Amerisur Resources PLC Monthly Production, OBA and Operational Update (5913V)

TIDMAMER

RNS Number : 5913V

Amerisur Resources PLC

06 November 2017

6 November 2017

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

Monthly Production, OBA Throughput and Operational 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 October 2017 (the "Period").

Production

   --     Total production was 191,342 barrels of oil ("BO") during the Period. 

-- Average production per calendar day was 6,172 barrels of oil per day ("bopd") during the Period.

   --     Average production per operational day was 6,172 bopd during the Period. 
   --     Peak daily production was 7,398 bopd during the Period. 
   --     Current production is approximately 6,023 bopd. 

OBA Export

   --     Total export volume was 189,172 BO during the Period. 
   --     Average throughput per calendar day was 6,102 BO during the Period. 
   --     Average throughput per operational day was 6,102 BO. 
   --     Peak daily throughput was 8,001 BO during the Period. 

The 3(rd) export pump at the Platanillo export facility has now been fully installed and is undergoing testing. It is expected to be available for service in November. Well service works continue with the objective of supporting the Company's exit rate target of 7,000+ bopd.

This data will vary month on month as development, appraisal and exploration operations continue, and also due to the factors involved in operating in the Putumayo region of Colombia. These factors include inclement weather, social issues with drilling and oil transportation and planned and unplanned shut downs for technical works undertaken among others. 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/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 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 6,000 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.

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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November 06, 2017 02:00 ET (07:00 GMT)