TIDMAMER

RNS Number : 3526E

Amerisur Resources PLC

09 February 2015

9 February 2015

Amerisur Resources Plc

Pipeline Update: Signing of Operation Letter of Intent by PetroAmazonas

Amerisur Resources Plc ("Amerisur" or the "Company"), the oil and gas producer and explorer focused on South America, is pleased to announce the signing of the Operation Letter of Intent ("LOI") by PetroAmazonas, the Operator of the Cuyabeño gathering system, and the wider Amazonas pipeline network (RODA) which outlines the terms under which Amerisur will make use of its infrastructure.

The LOI allows the final negotiation and signing of the final definitive agreements with PetroAmazonas and other Ecuadorian entities, ahead of construction of the pipeline. The terms of those final agreements are well advanced, and the Company expects to close these in the coming weeks. The LOI also allows the application to the Ecuadorian Environmental Licensing authority for the extension of the right of way from the PetroAmazonas operating area to the point south of the Putumayo River where the pipeline will reach surface.

In Colombia, the modification of the existing Platanillo environmental license to include oil transport by pipeline is being reviewed by the Licensing Authority and a positive response is expected.

Following these approvals the Company expects to construct and commission the Ecuador interconnector in H1 2015.

Giles Clarke, Chairman of Amerisur commented:

"We continue to make excellent progress towards commencing construction of the pipeline and the signing of the LOI by PetroAmazonas is an important milestone to take the project forward. The advances we have made in terms of physical preparation and agreements, the strong relationships we have established in Ecuador, together with the positive impact for all parties of this pipeline give us confidence the system will be delivered and operational at the start of H2 2015."

ENDS

Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 28 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

ENQUIRIES:

 
Billy Clegg/Georgia  Tel: +44(0)203 757 4980 
 Mann 
Camarco 
Jeremy Low/Daniel    Tel: +44 (0)207 653 4000 
 Conti 
RBC Capital Markets 
Chris Sim            Tel: +44 (0)207 597 4000 
Investec

This information is provided by RNS

The company news service from the London Stock Exchange

END

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