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Amerisur Resources PLC  -  AMER   

Platanillo-24 Update

Released 07:24 09-Jan-2017

RNS Number : 6306T
Amerisur Resources PLC
09 January 2017
 

 

09 January 2017

 

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

 

Platanillo-24 Update

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce an update on the drilling of well Platanillo-24 in Colombia. Platanillo 24 has been drilled under time and under budget, to a total depth (TD) of 8,485ft measured depth (MD), achieving an offset of 1,275 ft to the east of Platform 3N.

This well was designed as an infill well on the most northern developed lobe of the Platanillo field, located between wells Platanillo 7 and 17. The reservoir section was logged and initial log analysis indicated the presence of 67.5ft gross, 38ft net oil column in the U sand formation. The analysis of T sand indicates a 14ft gross and 8ft net oil column. The N sand was not well developed at this location, in line with the Company's seismic attributes model. The well is currently being completed for commercial production from the U sand and it is expected to produce into the Pad 3N facilities.

Subject to resolution of local social protests, the Company plans to mobilise the Serinco Rig D-10 to Pad 2N, in order to drill Platanillo 22, the first appraisal well from Pad 2N, the furthest north Pad on the Platanillo block.

 

John Wardle, Chief Executive Officer of Amerisur, commented:

"Platanillo 24 is a good result, the second of our planned infill wells. The well was drilled to TD in just over 15 days at a cost of under US$2M. I look forward to successfully initiating production from the U sand."

In accordance with the AIM Rules - Note for Mining and Oil & Gas Companies - June 2009, the technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 31 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

 

ENDS

Enquiries:

 

John Wardle/Nick Harrison

Amerisur Resources

Tel: +44 (0) 203 757 4980 c/o Billy Clegg



Billy Clegg/Georgia Edmonds

Tel: +44 (0)203 757 4980

Camarco

 


Callum Stewart/Ashton Clanfield

Stifel Nicolaus Europe Limited

Tel: +44 (0)20 7710 7600



Chris Sim/George Price

Tel: +44 (0)207 597 4000

Investec





 


 

 

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 producing field.  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-9, 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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Platanillo-24 Update - RNS