Amerisur Resources PLC 2 million barrels transported through the OBA (4702G)

TIDMAMER

RNS Number : 4702G

Amerisur Resources PLC

02 March 2018

02 March 2018

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

2 million barrels transported through the OBA pipeline

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce that on 20 February the Company transported its 2 millionth barrel of oil through the OBA pipeline, generating a total saving to the Company of USD$20.3m during the fifteenth month of its operation. As a reminder to shareholders, the OBA pipeline was completed in October 2016 at a cost of $18m. It has reduced average transport costs from USD$ 14.05 per barrel to USD$ 3.90 per barrel and has reduced opex per barrel to $15.

John Wardle, CEO of Amerisur said:

"The OBA pipeline has more than paid for itself after just fifteen months of operations. As production increases from the Putumayo region and OBA throughput increases the cost savings Amerisur will achieve will escalate further."

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/Nicholas      Tel: +44 (0)20 
 Rhodes/Ashton 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 two fields in 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 producing field in the Putumayo basin, and holds a 30% non-operated working interest in the CPO-5 block containing the Mariposa-1 producing field in the Llanos basin. Amerisur is currently producing approximately 7,000 bopd.

Amerisur has a strong position in the Putumayo basin and has a cluster of near term activity assets around the OBA export line.

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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March 02, 2018 02:05 ET (07:05 GMT)