4 Apr 2017 07:00
April 4 2017
Amerisur Resources Plc ("Amerisur" or the "Company")
Monthly Production and OBA Throughput Update
Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide unaudited production from the Platanillo Field and OBA throughput data for the month of March 2017 (the "Period").
Production
· Total production was 134,681 barrels of oil ("BO") during the Period.
· Average daily production was 4,345 barrels of oil per day ("bopd") during the Period.
· Peak daily production was 4,381 bopd during the Period.
OBA Export
· Total export volume was 129,566 BO during the Period.
· Average daily throughput was 4,180 bopd during the Period.
· Peak daily throughput was 4,808 bopd during the Period.
Since 1 April OBA export volumes have averaged 5,004 bopd, reflecting further efficiency gains within the transport system.
These data will vary month on month as development, appraisal and exploration operations continue, and also due to the factors involved in operating in the Putumayo region of Colombia. These factors include inclement weather, social issues with drilling and oil transportation and planned and unplanned shut downs for technical works undertaken, among others. This data has not yet been approved by the Colombian Agencia Nacional de Hidrocarburos (ANH) or national customs and tax authorities DIAN and may be subject to revision.
The Company notes with sadness the recent natural disaster in Mocoa Putumayo. Amerisur is cooperating with the response activities led by the Colombian Authorities, having provided specialist equipment, fuel, fresh water in bulk, logistical support including Helicopter work and we remain in close contact with Government officials. The area affected in Mocoa does not include the main road, and Amerisur operations have not been affected by the event.
In well Platanillo-22 7" casing has been successfully run to total depth and cemented, ahead of the commencement of production testing and commercial production. As previously reported, oil volumes from this well will initially be trucked to the south Platanillo Pad-9 for subsequent export via OBA and other point of sale options. Amerisur is currently completing the planning for up to two follow up wells on Pad 2N. The first of these wells will be spudded once testing operations are complete on well Platanillo-22.
Enquiries:
Nick Harrison, CFO Amerisur Resources
| Tel: +44 (0)330 333 8246 |
Billy Clegg/Georgia Edmonds Camarco
| Tel: +44 (0)203 757 4980 |
Callum Stewart/Ashton Clanfield/Nicholas Rhodes Stifel Nicolaus Europe Limited
| Tel: +44 (0)20 7710 7600 |
Chris Sim/George Price Investec
| Tel: +44 (0)207 597 4000 |
Darrell Uden/Marcus Jackson RBC Capital Markets
| Tel: +44 (0)207 653 4000
|
Notes to editors
Amerisur Resources is an independent full-cycle oil and gas company focused on South America, with assets in Colombia and Paraguay and production from the Platanillo field in southern Colombia. In 2016 Amerisur successfully built and is 100% owner of the strategic OBA oil transfer line into Ecuador.
In Colombia, the Company is operator and has a 100% working interest in the Platanillo block which includes the Platanillo field, which is currently producing circa 4,300 BOPD.
The Company has a strong position in the Putumayo basin and has a cluster of near term activity assets around the OBA export line including the Platanillo block, Put-8, Put-12 and Coati. A 100% working interest in contract Put-9, acquired from Talisman Colombia and Meta Petroleum Corp. is currently awaiting approval by ANH. It has a diverse portfolio of longer term exploration assets.
This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.
www.amerisurresources.com