Amerisur Resources PLC Monthly Production, OBA and Operations Update (1315K)

TIDMAMER

RNS Number : 1315K

Amerisur Resources PLC

05 July 2017

5 July 2017

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

Monthly Production, OBA Throughput and Operations Update

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide unaudited production from the Platanillo Field and OBA throughput data for the month of June 2017 (the "Period").

Production

   --     Total production was 137.267 barrels of oil ("BO") during the Period. 
   --     Average daily production was 4.576 barrels of oil per day ("bopd") during the Period. 
   --     Peak daily production was 5.109 bopd during the Period. 
   --     Current production is approximately 6,075 bopd. 

OBA Export

   --     Total export volume was 125.386 BO during the Period. 
   --     Average daily throughput was 4.180 bopd during the Period. 
   --     Peak daily throughput was 4.518 bopd during the Period. 

Average production volumes were slightly down over the previous period, due to some well down time while well treatments and reconfigurations were executed. These operations were very successful, leading to current production in excess of 6,000 bopd.

In Platanillo-21, the second well on Pad 2N, a leak in the primary cement job was detected and that well is currently being recompleted after a cement squeeze was performed and is expected to be placed on production in the next week, thus further raising production levels.

The drilling of Platanillo-25, the third well on Pad 2N will commence once the recompletion of Platanillo-21 is finalised.

OBA throughput was reduced below contractual levels due to equipment maintenance activities in the RODA system of Ecuador. It is expected these will be completed shortly.

Production volumes are in excess of current OBA export capacity; excess production is currently in storage in field. The Company holds various options for sale of this crude within Colombia as and when required.

This data has not yet been approved by the Colombian Agencia Nacional de Hidrocarburos (ANH) or national customs and tax authorities DIAN and may be subject to revision.

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 6,075 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. A 40% working interest in contract Put-9, acquired from Talisman Colombia is currently awaiting approval by ANH. It has a diverse portfolio of longer term exploration assets.

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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July 05, 2017 02:00 ET (06:00 GMT)