Shares in South America-focused oil and gas producer Amerisur Resources Plc rise as much as 8 percent after the company says it secured additionalexport capacity through the Rio Loro oil reception facility.
The facility is set to receive a minimum of 3,500 barrels of oil per day(bopd) potentially increasing the production capability in its key Platanillofield, the company says.
Investec Bank analyst Brian Gallagher says that the update is positive forAmerisur, but progress on other export options such as through Ecuador and theOrito facility upgrade is also important, which will open up a new avenue toramp up production.
Amerisur, which had initially targeted a production of 5,000 bopd by the endof 2012, said last month that production was constrained at 4,700 bopd due tothe lack of certain pipeline and export facilities, and that it was developingfurther routes by which oil may be brought to market.
To see Amerisur's statement, please click on
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