Amerisur Resources PLC CPO-5 Update (8820U)

TIDMAMER

RNS Number : 8820U

Amerisur Resources PLC

27 October 2017

27 October 2017

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

CPO-5 Update

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide an update on CPO-5, in which the Company has a 30% (non-operated) working interest.

The operator of the Mariposa discovery in the CPO-5 block has informed the Company that the equipment to initiate the Long Term Test (LTT) of the Mariposa-1 well is now on location and the function testing is 95% complete. The LTT will commence after the inspection visit by the National Hydrocarbons Agency (ANH) to approve the facilities, which is currently scheduled for 12 November 2017. The LTT is expected to commence shortly after approval has been received.

ENDS

Enquiries:

 
 Nick Harrison, CFO              Tel: +44 (0)330 
  Amerisur Resources              333 8246 
 Billy Clegg/Georgia Edmonds     Tel: +44 (0)203 
                                  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 Jackson     Tel: +44 (0)207 
 RBC Capital Markets              653 4000 
 
 
 

Inside Information

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.

Important notice

Forward looking statements and dates referenced in this announcement, in relation to Amerisur's production, development and exploration assets, are estimates and subject to change. Oil and gas operations are subject to varying inputs that may impact timing, including, inter alia, permitting; environmental regulation; changes to regulators and regulation; third party manufacturers and service providers, social issues and the weather. The Company's estimates of timing for forward looking operations are based on the best information it has to hand at the time, however these timings may change with little or no notice to the Company. The Company will update the market as and when it becomes aware of a material change to any of the operations or timings referenced in this announcement.

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 6,400 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 including the Platanillo block, Put-8, Put-12 and Coati. Additionally, the Company holds a 100% working interest in contract Put-9, 100% of Tacacho and 100% of Terecay acquired from Talisman and Pacific. These acquisitions have now been approved by ANH. It has a diverse portfolio of longer term exploration assets.

www.amerisurresources.com

This information is provided by RNS

The company news service from the London Stock Exchange

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October 27, 2017 10:51 ET (14:51 GMT)