Regulatory Story
Go to market news section View chart   Print
Amerisur Resources PLC  -  AMER   

Analyst site visit and 2017 guidance

Released 07:00 21-Sep-2016

RNS Number : 3842K
Amerisur Resources PLC
21 September 2016

21 September 2016

 Amerisur Resources Plc

Analyst site visit and 2017 guidance

Amerisur Resources Plc ("Amerisur" or the "Company"), the oil and gas producer and explorer focused on South America, announces that it is hosting a site visit for sell-side analysts to the Company's operations and offices in Colombia.  Today, a presentation will be made by management, which will be made available on the Company's website shortly.

The presentation sets out Amerisur's strong financial position, with its solid, low opex production base, its diverse portfolio of near term assets, with detail on its strategic position in the under-explored Putumayo basin.  The presentation describes the progress of the OBA pipeline and the impact this strategic piece of infrastructure will have on the OBA cluster of assets and the Company's wider business.  It also gives details of the fully funded 11 well drilling programme over the next 15 months to convert resources into reserves and increase production, adding new production centres.

Finally, it gives details on the Company's strategy to 2019, the visibility of diversity of production base from one to up to five fields on exploration success, and of the broad portfolio of longer term exploration assets.

Part of the presentation includes capex and production guidance and drilling guidance for 2017.  The Company is expecting a 2016 exit production rate of 7,200 BOPD and to produce between 7,500 and 8,500 BOPD in 2017.  The Company is expected to spend $52m in capex between now and the end of 2017, including drilling 11 wells across the Company's portfolio and conducting seismic operations and a long term test on the Coati field.

Aside from what is outlined above, no new material information will be disclosed.




Billy Clegg/Georgia Mann

Tel: +44 (0)203 757 4980




Callum Stewart/Ashton Clanfield

Stifel Nicolaus Europe Limited

Tel: +44 (0)20 7710 7600



Chris Sim/George Price

Tel: +44 (0)207 597 4000





Darrell Uden/Daniel Conti

Tel: +44 (0)207 653 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 pipeline 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 4,500 BOPD.  The Company has a strong position in the Putumayo basin and has a cluster of near term activity assets around the OBA pipeline including the Platanillo block, Put-8, Put-12 and Coati.  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. 

This information is provided by RNS
The company news service from the London Stock Exchange

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


Analyst site visit and 2017 guidance - RNS