LONDON (Alliance News) - South America-focused oil and gas producer Amerisur Resources PLC on Tuesday said the Loto-2 well at the CPO-5 contract area in Colombia has been spudded.
The well is expected to take about 20 days to drill, with logging and testing to take place thereafter.
"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," said Chief Executive John Wardle.
Shares in Amerisur were down 1.0% to 23.75 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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