13 Oct 2015 07:00
13 October 2015
Amerisur Resources Plc
Loto-2 Update
Amerisur Resources Plc ("Amerisur" or the "Company"), the oil and gas producer and explorer focused on South America, is pleased to provide an update on operations at the Loto-2 well, CPO-5 Block, Colombia.
The Company is pleased to report that the Loto-2 well has been successfully directionally drilled to a total depth of 10,320ft and has been logged and 7" production liner set and cemented. Amerisur log analysis indicates 54ft of net pay thickness in the Mirador formation. Petro Dorado SA, a 100% owned subsidiary of Amerisur, (30% Working Interest) and ONGC Videsh Ltd (70% Working Interest and Operator) are currently designing the programme to test the Mirador reservoir. Results from that operation are expected in the next 14 days.
John Wardle, CEO of Amerisur commented:
"This is an encouraging result from Loto-2. We look forward to positive test results from this well and also to beginning the drilling of the next well from the Loto pad, Loto North-1."
ENDS
Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 29 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.
ENQUIRIES:
Billy Clegg/Georgia Mann | Tel: +44(0)203 757 4980 |
Camarco
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Jeremy Low/Daniel Conti | Tel: +44 (0)207 653 4000 |
RBC Capital Markets
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Chris Sim | Tel: +44 (0)207 597 4000 |
Investec |