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Amerisur Resources PLC  -  AMER   

Successful drilling at CPO-5 Block - Llanos Basin

Released 14:25 04-May-2017

RNS Number : 2273E
Amerisur Resources PLC
04 May 2017
 

4th May 2017

 

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

Successful drilling at CPO-5 Block - Llanos Basin

 

 

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce that well Mariposa-1 has been successfully drilled to a total depth of 11556ft (MD). Analysis indicates the presence of approximately 120ft of oil saturated net pay in the Lower Sands Unit 3 of the Une formation. In addition, good shows of oil and gas were encountered while drilling this section. The Operator, ONGC Videsh, is currently conditioning the well to run and cement a 7" production liner in order to initiate the testing programme.

 

John Wardle, Chief Executive Officer, commented:

"I am delighted with the result of the Mariposa-1 well, in the CPO-5 block. We look forward to updating shareholders upon completion of further tests by our partners ONGC Videsh."

 

 

 

ENDS

 

Enquiries:

 

Nick Harrison, CFO

Amerisur Resources

 

Tel: +44 (0)330 333 8246

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




Darrell Uden/Marcus Jackson

RBC Capital Markets

 

Tel: +44 (0)207 653 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 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 5,200 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.  It has a diverse portfolio of longer term exploration assets.

 

Competent person: 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.

 

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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Successful drilling at CPO-5 Block - Llanos Basin - RNS