April 17 (Reuters) - South America-focused oil and gasproducer Amerisur Resources Plc reported a nearly 500percent rise in full-year profit helped by a steep increase inproduction.
Operating profit rose to 19.6 million pounds ($29.97million) in the year ended Dec. 31, from 3.3 million pounds ayear earlier.
Revenue grew almost 200 percent to 42.2 million pounds.
The company also said it expected a significant increase inproduction in 2013 as it planned to drill 10 new wells at itskey Platanillo field and an exploratory well at the Fenix blockin Colombia.
Amerisur, which had initially targeted a production of 5000bopd by the end of 2012, said last month that production wasconstrained at 4700 bopd due to the lack of certain pipeline andexport facilities, and that it was developing further routes bywhich oil may be brought to market.
It said on Wednesday that current production was 4000 bopdwith total field production capacity of 7000 bopd.
Production in 2011 was 407 bopd.
The company had said last month that proven and probablereserves at Platanillo rose to 29.9 million barrels of oil(mmbo) from 7.7 mmbo.
Amerisur's shares, which have more than doubled over thepast year, were up about 3 percent at 54.1 pence at 0718 GMT onWednesday on the London Stock Exchange.
