Following an independent reserves report for the field as at the end of 2017 by Petrotech Engineering Ltd, the certified proven gross field reserves were 12.8 million barrels of oil, down from 15.1 million barrels in 2016, after production of 1.8 million barrels of oil during the period.
After production, the current proven reserves reflects a decrease of 500,000 barrels of oil from the end of 2016. The technical decrease of the Expected Ultimate Recovery takes account of wells drilling during the year, including the poor reservoir quality and initial flow rates from wells Platanillo 25 and 27.
Since the Mariposa-1 well is under the long term test, and not in the exploitation phase, Amerisur's total proven reserves stands at 13.9 million barrels of oil.
However, for the month of March, Amerisur reported production from both Platanillo and Mariposa-1 averaged 6,476 barrels of oil a day, to produce a total of 200,772 barrels. Peak production in the period was 6,647 barrels on a daily basis.
For the pipeline, formally known as Oleoducto Binacional Amerisur, the total export volume was 171,888 barrels during March, with an average daily throughout of 5,544 barrels of oil. Peak daily throughput during the month was 5,809 barrels during the month.
Also, Amerisur announced that Indico-1, the first new well on CPO-5 is estimated to hold P50 gross resources of 10.3 million barrels of oil, and is expected to spud by May. Also, modification of the Platanillo Environmental Licence for N Sand drilling has been approved, allowing for the building of a 3.8 kilometres access road and six well pads.
Rig mobilisation and spudding of the Pintadillo-1 well, the first of up to three wells targeting the N Sand anomaly within the Platanillo block is expected to take around 65 days.
"The reduction in reserves at Platanillo over and above production through the year was a result of various factors, including the relatively poor performance of two wells drilled during the period and the latest mapping of the Platanillo structure, part of our wider effort to maximise our understanding of the opportunities within our portfolio. The board is confident of future reserves growth at Platanillo and that improved mapping will undoubtedly be an advantage as we begin to explore our wider opportunity base in the Putumayo," said Chief Executive John Wardle.
Shares in Amerisur Resources were down 9.2% at
