AMER.L Share News (AMER)

AMER.L Information

There is currently no data for AMER

Amerisur revenue slips and loss widens in first half

Thu, 15th Sep 2016 14:29

(ShareCast News) - South America-focused oil and gas producer and explorer Amerisur Resources announced its interim results for the six months to 30 June on Thursday, with revenue of $24.4m down significantly from $40.3m in the first half of the prior year.The AIM-traded firm reported operating cash burn for the period of $0.4m, against cash flow of $8.1m a year ago, though it did see its non-cash amortisation charge reduced to $4.4m as a result of a technical increase in reserves.Amerisur's operating loss for the period was $7.2m, widening from $6.5m, and its loss before tax reached $6.8m, compared with a loss of $5.8m a year ago.The company's cash position at period end was $56.1m, with no debt."We have made great strides in the first half, further diversifying our portfolio within the Putumayo region of Colombia, with activity levels across many blocks increasing as we deploy the capital raised in March," said chairman Giles Clarke."I am particularly pleased the OBA pipeline is now fully completed and undergoing final commissioning checks before entering operation within days and as a result we are once again drilling wells on the Platanillo field to increase reserves and production and leverage the significantly reduced opex per barrel using the pipeline for oil evacuation."We would like to thank shareholders for their patience in what has been an exceptionally complex undertaking."Clarke said Amerisur now has a cluster of assets around the OBA pipeline including the Platanillo field, Put-8 to the West of Platanillo and Put-12 to the East."Following our successful placing of approximately $35m in March, we have the capital to invest in drilling new wells at Platanillo, to increase both reserves and production and to move forward our acreage elsewhere in the portfolio such that Amerisur anticipates producing commercially from more than one oil field during 2017."Production in the second half is expected to ramp up - whilst preserving the integrity of the reservoir - and we are targeting a 2016 exit rate of 7,200 BOPD."At 1629 BST, its shares were flat after an afternoon of choppy trading at 23.5p.

More News

30 Jul 2018 09:51

Amerisur Resources To Acquire Putumayo 14 Block In Colombia

LONDON (Alliance News) - Amerisur Resources PLC said Monday it has signed an agreement to acquire a 100% working interest in Putumayo 14 block in Colombia for no cost.The South America oil

24 Jul 2018 09:51

Amerisur Resources Awaits Platanillo-22 Test Results To Move Forward

LONDON (Alliance News) - South America-focused oil & gas producer Amerisur Resources PLC said it will base its decisions for the Platanillo-22 well on ongoing tests.Amerisur has been in

15 May 2018 11:04

Amerisur Says Revenue And Profitability Are Ahead Of Internal Budgets

LONDON (Alliance News) - Amerisur Resources PLC Chairman Giles Clarke said the company's revenue, cash generation and profitability are "significantly ahead" of the same period last

9 May 2018 10:45

Amerisur Resources Makes Progress In Colombia Despite Delays

LONDON (Alliance News) - Amerisur Resources PLC said Wednesday its Colombian operations are making "good progress" despite bad weather conditions and delays.The South producer and

8 May 2018 16:05

UK Shareholder Meetings Calendar - Next 7 Days

Wednesday 9 MayStandard CharteredVirgin MoneyRentokil InitialPatagonia & (re 10

8 May 2018 09:41

Amerisur Resources Monthly Production Falls Due To Work On Wells

LONDON (Alliance News) - Amerisur Resources PLC on Tuesday reported a drop in production in April from its Colombian assets due to some work carried out on its wells.Total production for of

18 Apr 2018 16:39

DIRECTOR DEALINGS: Amerisur Resources Non-Exec Director Buys Shares

LONDON (Alliance News) - Amerisur Resources PLC said that Non-Executive Director Dana Coffield purchased shares in the oil and gas company in a transaction on Wednesday.Coffield bought at a

17 Apr 2018 16:51

DIRECTOR DEALINGS: Amerisur Resources Chief Executive Buys Shares

LONDON (Alliance News) - Amerisur Resources PLC said a company related to Chief Executive John Wardle bought GBP49,909 worth of shares in the company on Tuesday.The oil and gas producer Ltd

4 Apr 2018 09:19

Amerisur Resources Sees Reduced Platanillo Reserves In 2017

LONDON (Alliance News) - Amerisur Resources PLC said Wednesday that production from its two producing fields increased during the month of March, despite a reduction in the of

9 Jan 2017 15:29

Amerisur completes latest Colombia well under time and budget

(ShareCast News) - South America-focused oil and gas producer and explorer Amerisur Resources announced an update on the drilling of well Platanillo-24 in Colombia on Monday. The AIM-traded firm said Platanillo 24 was drilled under time and under budget, to a total depth of 8,485ft measured depth, a

3 Jan 2017 10:54

Tuesday broker round-up

(ShareCast News) - BP: UBS reiterates buy with a target price of 550p. InterContinental Hotels Group: Barclays upgrades to overweight, 4000p target. Debenhams: Deutsche Bank downgrades to sell with a 5200p target. Amerisur: Barclays reiterates equal weight with a 36p target. Next: Deutsche Bank d

23 Dec 2016 07:35

Amerisur Resources Start Drilling On Platanillo-24 Well In Colombia

20 Dec 2016 08:03

Amerisur Resources buys stakes in Colombia oil sites

(ShareCast News) - AIM-listed oil and gas explorer Amerisur Resources has bought the remaining 50% stake in an oil block and a new working interest in a Colombia site from Talisman Colombia Oil & Gas, for an undisclosed fee. The company is to buy the remaining 50% interest in the Put 30 contract are

20 Dec 2016 07:41

Amerisur Resources Increases Interests In Two Colombia Licence Areas

27 Oct 2016 14:22

Amerisur Resources confirms OBA pipeline operational

(ShareCast News) - South America-focused oil and gas producer and explorer Amerisur Resources announced on Thursday that the regulatory agency of Ecuador, ARCH, has issued a decree to Petroamazonas EP for the operation of the OBA system in Ecuador. The AIM-traded firm said that as a result, transpor

Latest Share Chat

AMER.L Share News (AMER)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Amerisur revenue slips and loss widens in first half

Login to your account

Quickpicks are a member only feature

Login to your account