Amerisur Resources PLC Successful drilling at CPO-5 Block - Llanos Basin (2273E)

TIDMAMER

RNS Number : 2273E

Amerisur Resources PLC

04 May 2017

4(th) May 2017

Amerisur Resources Plc ("Amerisur" or the "Company")

Successful drilling at CPO-5 Block - Llanos Basin

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce that well Mariposa-1 has been successfully drilled to a total depth of 11556ft (MD). Analysis indicates the presence of approximately 120ft of oil saturated net pay in the Lower Sands Unit 3 of the Une formation. In addition, good shows of oil and gas were encountered while drilling this section. The Operator, ONGC Videsh, is currently conditioning the well to run and cement a 7" production liner in order to initiate the testing programme.

John Wardle, Chief Executive Officer, commented:

"I am delighted with the result of the Mariposa-1 well, in the CPO-5 block. We look forward to updating shareholders upon completion of further tests by our partners ONGC Videsh."

ENDS

Enquiries:

 
 Nick Harrison, CFO          Tel: +44 (0)330 
  Amerisur Resources          333 8246 
 Billy Clegg/Georgia         Tel: +44 (0)203 
  Edmonds                     757 4980 
 Camarco 
 Callum Stewart/Ashton       Tel: +44 (0)20 
 Clanfield                    7710 7600 
 Stifel Nicolaus Europe 
 Limited 
 
 Chris Sim/George Price      Tel: +44 (0)207 
                              597 4000 
 Investec 
 
 Darrell Uden/Marcus         Tel: +44 (0)207 
  Jackson                     653 4000 
  RBC Capital Markets 
 
 
 

Notes to editors

Amerisur Resources is an independent full-cycle oil and gas company focused on South America, with assets in Colombia and Paraguay and production from the Platanillo field in southern Colombia. In 2016 Amerisur successfully built and is 100% owner of the strategic OBA oil transfer line into Ecuador.

In Colombia, the Company is operator and has a 100% working interest in the Platanillo block which includes the Platanillo field, which is currently producing circa 5,200 BOPD. The Company has a strong position in the Putumayo basin and has a cluster of near term activity assets around the OBA export line. It has a diverse portfolio of longer term exploration assets.

Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 31 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

www.amerisurresources.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 04, 2017 09:25 ET (13:25 GMT)