27 Nov 2019 07:00
27 November 2019
Amerisur Resources Plc ("Amerisur" or the "Company")
Block Award
Amerisur Resources Plc ("Amerisur" or the "Company"), the oil and gas producer and explorer focused onshore Colombia (LSE: AMER), announces a portfolio update.
The ANH announced that as part of the Proceso Permanente de Asignacion de Areas 2019 round Amerisur Resources was awarded Block PUT-36. The company holds a 100% working interest in the block that covers approximately 59,902 hectares and lies within the Putumayo basin, immediately north of the 50% owned Mecaya Block. The work commitments in the first phase (over 36 months) include acquisition of 3D seismic and two exploration wells with a minimum spend of $26m.
John Wardle, CEO of Amerisur Resources said:
"We are pleased to secure acreage that expands our strategic position in the Putumayo Basin, onshore southern Colombia".
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 33 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.
Ends
Enquiries:
Nathan Piper, Head of Business Development and Comms Amerisur Resources
| Tel: +44 (0)330 333 8273 |
Billy Clegg/Kimberley Taylor | Tel: +44 (0)203 757 4983 |
Camarco
| |
Callum Stewart/Nicholas Rhodes/Ashton Clanfield Stifel Nicolaus Europe Limited | Tel: +44 (0)20 7710 7600 |
Chris Sim/Tejas Padalkar | Tel: +44 (0)207 597 4000 |
Investec | |
Paul Shackleton/Dan Gee-Summons Arden Partners Plc
| Tel: +44 (0)207 614 5900
|
About Amerisur Resources
Amerisur Resources is an experienced Colombian Operator with an extensive, strategic acreage position in the underexplored Putumayo Basin with Occidental Petroleum ("Oxy") and the large, prospective, Block CPO-5 in the Llanos Basin with ONGC. Amerisur is the 100% owner and operator of the OBA pipeline, a key piece of strategic, cross-border export infrastructure delivering oil from the Putumayo in Colombia into Ecuador. Amerisur produces from three fields, Platanillo, Mariposa and Indico that together generate cash flow to fund its work programme.