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Amerisur Resources PLC  -  AMER   

Colombia Asset Acquisition

Released 07:00 20-Dec-2016

RNS Number : 2853S
Amerisur Resources PLC
20 December 2016
 

20 December 2016

 Amerisur Resources Plc

Colombia Asset Acquisition

 

Amerisur Resources Plc ("Amerisur" or the "Company"), the oil and gas producer and explorer focused on South America, is pleased to provide an update on corporate activities in Colombia.

 

Put 30 and Put 9 Acquisition

The Company is pleased to announce the closing of a transaction with Talisman Colombia Oil & Gas Ltd to acquire, subject to approval from the Agencia Nacional de Hidrocarburos ("ANH"), the remaining 50% working interest in the Put 30 contract area and a new 40% working interest in the Put 9 Contract. The application for approval to ANH includes the appointment of Amerisur as operator of Put 30. Put 9 is located immediately to the north of Put 12 and to the east of Platanillo and is operated by Meta Petroleum Corp. with a working interest of 60%.

 

John Wardle, CEO commented:

"Our already very strong acreage position has been further strengthened with the acquisition, subject to ANH approval, of these Talisman assets. The acquisition cost to the Company was non-material. Put 9 is a key block which is located within the OBA cluster, adjoining Platanillo and Put 12 and is very prospective in our view. On the basis of existing seismic data there are several interesting structures which are shared between Put 12 and Put 9. Also, there are independent structures which lie within Put 9. We are currently performing detailed work to link the geological models of Put 12 and Put 9, after which an independent resources report will be commissioned covering both assets. Put 30, a heavy oil play, will be, upon approval, 100% owned by Amerisur and, coupled with its adjoining block Andaquies where we also hold 100% working interest, offers a variety of compelling opportunities."

 

Ends

 

Enquiries:

 

Billy Clegg/Georgia Edmonds

Tel: +44 (0)203 757 4980

Camarco

 

 

Callum Stewart/Ashton Clanfield/Nicholas Rhodes

Stifel Nicolaus Europe Limited

Tel: +44 (0)20 7710 7600

 

 

Chris Sim/George Price

Tel: +44 (0)207 597 4000

Investec

 

 

 

Darrell Uden/Marcus Jackson

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 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 4,200 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.  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
 
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Colombia Asset Acquisition - RNS