Amerisur Resources PLC OBA Pipeline Update (4516L)
October 03 2016 - 2:00AM
UK Regulatory
TIDMAMER
RNS Number : 4516L
Amerisur Resources PLC
03 October 2016
3 October 2016
Amerisur Resources Plc
OBA Pipeline Update
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 its wholly owned OBA interconnector
pipeline between Colombia and Ecuador. Construction is complete and
all necessary instrumentation testing has been successfully
completed. The full documentation of the line systems, together
with the successful testing results have been delivered to SHE /
ARCH, the regulatory bodies of Ecuador. As soon as ARCH issues the
decree to begin operations pumping will begin at an initial rate of
1,500 BOPD.
Cash opex costs per barrel are expected to reduce from
approximately $26 to under $15. In addition to the cost savings,
Amerisur OBA and SOTE (Ecuadorian pipeline to the coast) exported
crude will receive Oriente plus a quality compensation factor,
which has historically approximated to WTI pricing. Current trucked
production is sold as South Blend, which is at a discount to
WTI.
The Company will provide a further update once oil exports
commence.
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 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 4,500 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
END
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