Amerisur Resources PLC Operations Update - Platanillo-21 Spudded (9271C)
April 21 2017 - 2:00AM
UK Regulatory
TIDMAMER
RNS Number : 9271C
Amerisur Resources PLC
21 April 2017
21 April 2017
Amerisur Resources Plc ("Amerisur" or the "Company")
Operations Update
Platanillo-21 Spudded
Amerisur Resources Plc, the oil and gas producer and explorer
focused on South America, is pleased to announce an update on
operations in the Platanillo field in Colombia.
The Company has spudded well Platanillo-21 on Pad 2N with
drilling rig Serinco D-10. Platanillo-21 is planned as a short
deviation directional well aimed at the crest of the mapped
structure, with a drilling offset of 250ft and a total planned
measured depth of 8,485ft. As previously reported the Company plans
to log this well with both Logging While Drilling and Wireline
techniques, and additionally to acquire core data through the
entire Villeta sequence, i.e. from top N Sand to the igneous
basement. These data will be important in terms of enhancing
understanding at Pad 2N and in the Company's nearby prospects and
adjoining blocks. The well is expected to take approximately 27
days to drill and core to total depth at a cost of $3 million. The
final completion time and final cost of the well will depend upon
the completion options selected. A further announcement will be
made when drilling operations are complete.
John Wardle, Chief Executive Officer of Amerisur, commented:
"Platanillo-21 is a crestal well on the Pad 2N structure,
designed to maximise production capacity and life and as the second
well on this pad, to begin the construction of an optimal drainage
system as performed on other development pads. This will help to
maximise reserves recovery.
"I look forward to updating the market on the progress of
Platanillo-21."
Giles Clarke, Chairman of Amerisur said:
"I am pleased our executive team has moved rapidly to spud
Platanillo-21, and look forward to good success in this second
well, further adding to our productive capacity."
ENDS
Enquiries:
Nick Harrison, CFO Tel: +44 (0)330
Amerisur Resources 333 8246
Billy Clegg/Georgia Tel: +44 (0)203
Edmonds 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/Marcus Tel: +44 (0)207
Jackson 653 4000
RBC Capital Markets
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.
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 5,000 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.
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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