Amerisur Resources PLC Monthly Production, OBA and Operational Update (2988N)

TIDMAMER

RNS Number : 2988N

Amerisur Resources PLC

08 May 2018

8 May 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 April 2018 (the "Period").

Production

   --     Total production was 173,815 barrels of oil ("BO") during the Period. 
   --     Average daily production was 5,794 barrels of oil per day ("bopd") during the Period. 
   --     Peak daily production was 6,363 bopd during the Period. 

OBA Export

   --     Total export volume was 147,691 BO during the Period. 
   --     Average daily throughput was 4,923 BO during the Period. 
   --     Peak daily throughput was 5,440 BO during the Period. 

During the month the Company performed a number of surface equipment modifications, together with workovers and treatments on wells Platanillo-11, 6, 20 and 22, leading to a reduction in Platanillo production. It is expected that the benefits of these operations will be seen during May 2018.

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: [phone] 
  Amerisur Resources                        8246 
 Billy Clegg/Georgia Edmonds               Tel: [phone] 
                                            4980 
 Camarco 
 Callum Stewart/Nicholas Rhodes/Ashton     Tel: [phone] 
  Clanfield                                 7600 
  Stifel Nicolaus Europe Limited 
 
 Chris Sim/George Price                    Tel: [phone] 
                                            4000 
 Investec 
 
 Darrell Uden/Marcus Jackson               Tel: [phone] 
  RBC Capital Markets                       4000 
 
 
 

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 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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May 08, 2018 02:01 ET (06:01 GMT)