AMER.L Regulatory News (AMER)

19 June 2014

Amerisur Resources Plc ("Amerisur" or the "Company")

Operations Update

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce an update on operations in Colombia and Paraguay.

Highlights

· Platanillo-15 becomes the 14th successful new well in the current campaign

· Good test flow rates of 439 BOPD of 30.6 API oil at 23.5% drawdown

· Placed on commercial production

· Platanillo-18 on platform 9S has reached 9.5/8" casing depth towards the recently added commercial area to the south of the Platanillo field

· Good progress on the Ecuador pipeline project in Environmental, Technical and Commercial terms

· San Pedro 2D Seismic data processed

Colombia

Platanillo-15 in the Platanillo Field, Colombia, has been completed and becomes the 14th successful well of the current drilling campaign maintaining our 100% record for the programme. In addition, three successful sidetracks have also been successfully drilled. Platanillo-15 was drilled on time and under budget, to a total depth of 8,573ft MD, achieving an offset of 1,580ft to the south-west of Platform 9S.

This well was designed as an infill well on the western flank of the Platanillo field, located between wells Platanillo 9 and 14. The reservoir section was logged and initial log analysis indicated the presence of 73ft gross, 23ft net oil column in the U sand formation. The analysis of T sand indicates a 19ft gross and 9ft net oil column but the N sand was not well developed at this location, in line with the Company's seismic attributes model. The well was completed for commercial production from the U sand and flowed 439 BPD of 30.6 API oil on test with 8% water at a controlled 23.5% drawdown.

The Serinco Rig D-10 was skidded within Platform 9S and has spudded the next well on that pad, Platanillo-18. That well will be drilled to a location 3,776ft to the south of Platform 9S, towards the area recently added to the commercial area of the Platanillo field where the Company estimates the potential for up to a further 5.0 MMBO. The objective of Platanillo-18 is to appraise and produce from that southern section of the Platanillo field and if successful will be followed by up to 3 further wells into the newly acquired area. These wells are targeting the conversion of up to 5 MMBO of potential new resources to 1P reserves at the southern tip of the field. The well has now reached a depth of 5,871ft, and the 9.5/8" casing has been set and cemented successfully. We expect results from this well in approximately 30 days.

The Ecuador export line project continues to proceed according to schedule. The Company has created the operating vehicle in Quito, "Amerisurexplor Ecuador SA". That company is the official operator for the construction, operation and maintenance of the private oil pipeline between Platanillo and Petroamazonas´ VHR Station in Ecuador. The process engineering and bidding specifications are almost complete. Environmental licensing processes are well advanced and proceeding satisfactorily.

Despite recent logistical delays caused by national elections, current field production using trucked oil transport to Orito, Rio Loro-Dina and Rio Loro-Vasconia and Babillas stations is approximately 6,700 BOPD.

Paraguay

San Pedro

The 366km of new 2D seismic data has been processed. The Company is currently reprocessing the legacy 2D data acquired by Shell Pecten in the 1970´s in order to integrate into the complete data set. In initial interpretation we continue to see the same valid structures within this area of the San Pedro block, which area constitutes approximately 15% of the total contract area. The complete data set will be interpreted during the next month to select preferred drilling sites. The prospects are associated with multiple stacked reservoirs within the Lima and Santa Helena formations which are of Devonian age. Amerisur has strengthened its operational office in Asuncion and is in advanced discussions with a selection of contractors to secure the drilling of at least one well in San Pedro during 2014. It is expected that well will be drilled to a depth of approximately 10,000ft with a cost of approximately US$10MM, testing the Lima and Santa Helena prospects. These are estimated to hold a potential unrisked Stock Tank Oil Initially in Place ("STOIIP") in the Lima formation of 501 millions of barrels of oil (MMBO), with unrisked prospective resources of 200 MMBO. The Santa Helena leads are estimated to hold unrisked STOIIP of 1,206 MMBO with unrisked prospective resources of 422 MMBO.

Western Blocks

The Company holds 3 prospection licenses covering an area of approximately 5.2MM Hectares in the Pirity/Pilar basin complex. Analysis of existing data, in concert with the gravity information acquired by Amerisur indicates that these blocks are located along the southern edge of the subsided basin, in the area where tilted fault blocks may be expected to exist, with the potential for significant oil accumulations. The Company is currently reprocessing 1,564km of legacy seismic data, acquired in 1974 and 1975 by Exxon-Mobil. Additionally Amerisur is negotiating the use of other legacy seismic data within the area held by a previous operator.

John Wardle, Chief Executive Officer of Amerisur, commented:

"Platanillo-15 is another successful well for Amerisur, bringing the total to 14 new wells and 3 successful sidetracks. I am very pleased we have been able to begin operations on Platanillo-18, focused on the additional field area recently approved by ANH. We await the results of this important well and are confident we can quickly add material 1P reserves to the asset base.

"I am very pleased with the work on our line to Ecuador, which is on track to be in operation in the second half. This will lift our current production constraints, reduce dependence on long distance trucking and have a very material impact on our operating costs and so result in even higher margins for the Company.

"Our work in Paraguay continues to indicate that we are facing a significant opportunity in this area and I look forward to reporting further progress on all fronts as our work continues."

ENDS

Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 28 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

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