Amerisur Resources PLC Platanillo-21 Update (1724G)
May 25 2017 - 02:01AM
UK Regulatory
TIDMAMER
RNS Number : 1724G
Amerisur Resources PLC
25 May 2017
25 May 2017
Amerisur Resources Plc ("Amerisur" or the "Company")
Platanillo-21 Update
Amerisur Resources Plc, the oil and gas producer and explorer
focused on South America, is pleased to provide an update on
Platanillo-21, the second well on Pad 2N, the northern extension of
the Platanillo Field.
Platanillo-21, the 19(th) new well of the drilling campaign, in
addition to the three successful sidetracks, has been successfully
drilled and cored as a short deviation directional well, aimed at
the crest of the mapped structure, to a total depth of 8,447ft
measured depth, on time and budget.
The well was cored over the N sand, M2 sand, A Limestone, U
(upper and lower) and T sands. The reservoir cores recovered from
Platanillo-21 are currently being analysed with the objective of
physically determining the properties of the reservoirs at this
northern extension of the Platanillo field. This will allow a
refinement of the reserves model and will serve to calibrate both
Logging While Drilling and wire line run electric logs.
Log interpretation indicates the presence of 36ft net oil column
in the U sand formation and a 17ft net oil column in the T sand
formation using both Schlumberger logging-while-drilling and
Schlumberger wire line tools. The N sand did not present net pay at
this location, in line with the pre-drill model. The M2 sand and A
limestone core data are being evaluated to determine their
potential as pay zones.
The 7" production casing has been successfully run and cemented
and the Company expects to initiate commercial production from the
U sand.
John Wardle, Chief Executive Officer, commented:
"This is a further good result on Pad 2N. I look forward to
updating shareholders on production performance from this
well."
ENDS
Enquiries:
Nick Harrison, CFO Tel: +44 (0)330 333 8246
Amerisur Resources
Billy Clegg/Georgia Edmonds Tel: +44 (0)203 757 4980
Camarco
Callum Stewart/Ashton Clanfield Tel: +44 (0)20 7710 7600
Stifel Nicolaus Europe Limited
Chris Sim/George Price Tel: +44 (0)207 597 4000
Investec
Darrell Uden/Marcus Jackson 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 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.
As a reminder, Amerisur acquired its 30% interest in the CPO-5
block as part of the acquisition of Petro Dorado South America SA
(PDSA), a subsidiary of Petro Dorado Energy Ltd (PDEL). In that
contract ONGC Videsh is the Operator and holds a working interest
of 70%.
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
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLPGURCAUPMGBC
(END) Dow Jones Newswires
May 25, 2017 02:01 ET (06:01 GMT)
Amerisur Resources (LSE:AMER)
Historical Stock Chart
From Feb 2024 to Mar 2024
Amerisur Resources (LSE:AMER)
Historical Stock Chart
From Mar 2023 to Mar 2024