Amerisur Resources Acquires Assets in Caguan-Putumayo Basin

LONDON--Amerisur Resources PLC (AMER.LN) said Thursday it has acquired certain assets in the Caguan-Putumayo basin, Colombia, from Meta Petroleum Corporation and Pacific Stratus Energy Colombia Corporation for $4.9 million.

The oil and gas producer and explorer focused on South America, said the working interests acquired are 60% in the Put-9 contract area, 58% in the Mecaya contract area, 100% in the Terecay contract area and 50.5% in the Tacacho contract area.

The consideration for the acquisitions was paid in cash from existing resources, Amerisur said. Additionally a 2% overriding royalty interest will be payable to Pacific Exploration and Production in respect to Amerisur net production from the Terecay block and a 1.2% overriding royalty interest on net production from the Put-9 block, it said.

Meta Petroleum Corporation and Pacific Stratus Energy Colombia Corporation are owned by Pacific Exploration and Production.

The acquisition is subject to Agencia Nacional de Hidrocarburos approval.

-Write to Razak Musah Baba at [e-mail]; Twitter: @Raztweet

(END) Dow Jones Newswires

March 16, 2017 04:13 ET (08:13 GMT)

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