Amerisur Resources PLC Loto-2 Update (7665Z)
September 22 2015 - 2:01AM
UK Regulatory
TIDMAMER
RNS Number : 7665Z
Amerisur Resources PLC
22 September 2015
22 September 2015
Amerisur Resources Plc
Loto-2 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 well Loto-2 in the CPO-5 contract area,
Colombia.
Well Loto-2 has been spudded with rig Tuscany 109 in the CPO-5
block, located in the eastern Llanos area of Colombia.
The well is currently at a depth of 2,024ft, having drilled
17.1/2"hole to the 13.3/8"casing point.
The well is expected to take approximately 20 days to drill to
total depth of 10,321ft, with logging and testing thereafter.
John Wardle, CEO of Amerisur commented:
"CPO-5 is a very prospective block, where Amerisur holds a 30%
working interest through a wholly owned subsidiary. The block is on
trend with a number of important Llanos discoveries. Additionally
we hold good quality 3D data over large areas of the block. These
data are currently being processed and interpreted and initial
analysis is very favourable. This 3D analysis, together with the
results of the well currently drilling will allow an estimate of
the full potential of the Loto structure. I look forward to the
results from Loto-2, after which further wells will be drilled on
this structure and potentially others identified by the 3D
seismic.
ENDS
Competent person: Technical information in this announcement has
been reviewed by John Wardle Ph.D., the Company's Chief Executive.
John Wardle has 29 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
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 of circa 4,350 BOPD. Amerisur's strategy is
to acquire, explore and develop large acreage positions in major
under explored basins located in South America. The Company's
distinctive approach has been to own 100% of its assets at early
stages in order to have full control over the fields' development.
That requirement is now being relaxed as a sound production
baseline has been established and in response to the widening
opportunity set to which the Company has access.
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 4,350 BOPD. The 11,341
hectare block is located in the Putumayo Basin. In addition, the
Company has a 60% working interest and operatorship in block
Put-12, a 55,000 hectare block which is adjacent to Platanillo and
shares its geology and a 50% working interest in Put-30 a 38,514
hectare block, approximately 55km to the north of the Company's
100% owned Platanillo field. The company has recently acquired a
30% working interest in the CPO-5 contract, located in the Llanos
basin and a 49.5% working interest in the Tacacho contract, located
in the Caguan-Putumayo basin.
In Paraguay, Amerisur is the largest acreage holder in the
country, with 5.2 million hectares covering five 100% owned oil and
gas permits in the Paraguayan part of the Chaco and Parana
Basins.
John Wardle is CEO of Amerisur, having worked in Colombia since
1994, first for BP Exploration and subsequently for Emerald Energy.
The Company is chaired by Giles Clarke and is listed on the AIM
Market of the London Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLUUSVRVWAKURR
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September 22, 2015 02:01 ET (06:01 GMT)
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