(Adds analyst comment, details, share movement)
Feb 2 (Reuters) - Oil and gas company Amerisur Resources Plc more than halved its 2015 capital spending plan andtemporarily suspended production from high-cost areas in itsasset in Colombia, in response to the depressed crude oilprices.
Amerisur shares recovered from an early loss of 14.5 percenton the London Stock Exchange on Monday, after touching theirlowest since June 2012.
The company, which has assets in Colombia and Paraguay, alsosaid it had suspended its exploration programme in Paraguayuntil oil prices recover.
"This course of action should allow costs to readjust withAmerisur's balance sheet strength providing this strategicflexibility," Investec analysts said in a note.
Amerisur's revised plans are the latest among oil and gasfirms and energy services companies struggling with the sharpfall in crude oil prices over the last seven months.
The company now expects capital expenditure for the year ofabout $45 million, down from $95 million it originally planned.
Amerisur also deferred production from expensive pads at itsPlatanillo oilfield in Colombia as it waits for the completionand commissioning of a key pipeline in neighbouring Ecuador,expected in the first half.
"We have in effect deferred production of 500,000 barrels ofoil; however, the deferment period will be less than 12 months,"Chief Executive John Wardle said in a statement.
The company plans to increase production once the pipelineis completed and exit 2015 with a production rate of 8,200barrels of oil per day (bopd).
Production averaged 6,242 bopd in 2014, up 32 percent from2013.
Amerisur shares were up 3.7 percent at 35.25 pence at 0908GMT. (Reporting by Abhiram Nandakumar in Bengaluru; Editing byGopakumar Warrier)
