Amerisur Resources PLC Monthly Production, OBA and Operational Update (8533D)

TIDMAMER

RNS Number : 8533D

Amerisur Resources PLC

05 February 2018

5 February 2018

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 Company's two producing fields, the Platanillo Field and the Mariposa-1 Long Term Test (LTT), and provide OBA throughput data for the month of January 2018 (the "Period").

Production

   --     Total production was 211,950 barrels of oil ("BO") during the Period. 
   --     Average daily production was 6,837 barrels of oil ("bopd") during the Period. 
   --     Peak daily production was 7,142 bopd during the Period. 

OBA Export

   --     Total export volume was 174,287 during the Period. 
   --     Average daily throughput was 5,622 BO during the Period. 
   --     Peak daily throughput was 6,541 BO during the Period. 

OBA

OBA throughput in January was affected by planned maintenance and enhancement work at the Cuyabeno station. The planned maintenance has now been completed.

Platanillo

Well optimisation work, including chemical washes were successfully performed on the Platanillo-21 and Platanillo-8 wells. These wells returned to previous performance at 475 bopd and 255 bopd respectively, at lower drawdown. Planned maintenance was also performed on surface systems at Pads 3N and 2N. These works are now completed. It is planned to perform a chemical wash on Platanillo-11 at the end of February. The Company is also planning the installation of horizontal electrical lifting pumps at Pad 2N. It is envisaged this work will be completed around the end of H2 2018, depending upon equipment availability.

CPO-5

The Company and its partner ONGC Videsh continue to analyse the results of the LTT. Mariposa-1 continues to produce at a stable rate of approximately 3,250 bopd.

These 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. The 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 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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February 05, 2018 02:00 ET (07:00 GMT)