LONDON (Alliance News) - Amerisur Resources PLC Tuesday said the Ave-1 well in the Fenix Block of Colombian operations has begun exploration test production.
The oil and gas producer and explorer focused on South America said the well will be drilled to a depth of 3,183 feet, with results expected in the next month.
The company said the objective of the well is to evaluate oil potential from a nearby formation, located below previously discovered reservoirs by the company's well Isabel-1.
Isabel-1 carried out long-term tests in 2011 when production levels held steady at roughly 20 barrels of oil per day, but the company said orientation of the well was not best suited for uncovering oil potential and has now began developing new parts of the site.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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