Amerisur Resources PLC Analyst site visit and 2017 guidance (3842K)
September 21 2016 - 2:01AM
UK Regulatory
TIDMAMER
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 www.amerisurresources.com 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.
Ends
Enquiries:
Billy Clegg/Georgia Tel: +44 (0)203
Mann 757 4980
Camarco
Callum Stewart/Ashton Tel: +44 (0)20
Clanfield 7710 7600
Stifel Nicolaus Europe
Limited
Chris Sim/George Price Tel: +44 (0)207
597 4000
Investec
Darrell Uden/Daniel Tel: +44 (0)207
Conti 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.
www.amerisurresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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