5 Jul 2018 07:00
5 July 2018
Amerisur Resources Plc ("Amerisur" or the "Company")
Monthly Production, OBA Throughput and Operational Update
Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide unaudited production from the Company's two producing fields, the Platanillo Field and the Mariposa-1 Long Term Test (LTT), and provide OBA throughput data for the month of June 2018 (the "Period").
Production
· Total production was 154,064 barrels of oil ("BO") during the Period.
· Average daily production was 5,171 barrels of oil per day ("bopd") during the Period.
· Peak daily production was 5,400 bopd during the Period.
OBA Export
· Total export volume was 128,689 BO during the Period.
· Average daily throughput was 4,332 BO during the Period.
· Peak daily throughput was 4,530 BO during the Period.
During the month an organic treatment was performed on well Platanillo-22 which was partially successful, initially returning production to approximately 650 bopd. However, within a few days this volume fell to approximately 350 bopd. The well is currently being monitored. The Company continues to review options for production increases at Platanillo.
Civil works for the Pintadillo-1 road and location in the Platanillo block continue to advance despite difficult climatic conditions and extensive flooding in the area. The three well cellars have been completed and civil works are expected to complete in the next two weeks, followed by rig mobilisation. Spudding of Pintadillo-1 in the N Sand anomaly is expected in July 2018.
In the CPO-5 block in the Llanos basin, weather conditions have improved and civil works are expected to be complete in July. The well Indico-1 is also expected to spud in Q3 2018 as previously guided.
In the PUT-8 block, the operator Vetra informs that the well Miraparriba-1 is expected to spud in Q3 2018 as previously guided.
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. The 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.
ENDS
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 / Nicholas Rhodes / Ashton Clanfield Stifel Nicolaus Europe Limited
| Tel: +44 (0)20 7710 7600 |
Chris Sim / Alexander Ruffman Investec
| Tel: +44 (0)207 597 4000 |
Paul Shackleton / Dan Gee-Summons Arden Partners plc | Tel: +44 (0)20 7614 5900 |
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 two fields in 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 producing field in the Putumayo basin, and holds a 30% non-operated working interest in the CPO-5 block containing the Mariposa-1 producing field in the Llanos basin.
Amerisur has a strong position in the Putumayo basin and has a cluster of near term activity assets around the OBA export line.
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