23 Dec 2009 11:11
23 December 2009
Amerisur Resources Plc ("Amerisur" or the "Company")
Operations Update Colombia and Grant of Share Options
Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide the following update on the Platanillo contract in Colombia.
On Thursday 17th December the Ministry of Environment in Colombia (MAVDT) granted the Global Environmental License for the project named "Platanillo Hydrocarbons Exploitation Area". The award of this license will allow the Ministry of Mines and Energy to authorise the commencement of exploitation activities and thus give continuity to the production from the wells Alea-1R and Platanillo-2.
Total current production is approximately 300 BOPD.
The Board of Amerisur further announces that on 22 December 2009 the Renumeration Committee granted options to directors over 14,500,000 new ordinary shares of 0.1p each, representing 1.74 per cent of the current issued share capital, with an exercise price of 11.05p per share. The exercise price is calculated by reference to the closing price of the Company's shares for the five days prior to the date of grant. There was no consideration paid upon the grant of the options and there are no performance criteria attached to the exercise of the options. These options are exercisable at any time from 23/12/09 to 23/12/19.
The options have been granted as follows:
| Director | Number of options | Percentage of issued share capital |
| John Wardle | 8,000,000 | 0.96% |
| Giles Clarke | 3,000,000 | 0.36% |
| Nick Harrison | 3,000,000 | 0.36% |
| Douglas Ellenor | 500,000 | 0.06% |
| Total | 14,500,000 | 1.74% |
The company also announces that Dr John Wardle has assigned the interest of all of his options in the Company to Tracarta Ltd where he has an interest
Following this grant of options the interests of the directors are set out below:
| Director | Number of ordinary shares | Percentage of issued share capital | Number of options |
| John Wardle * | 8,865,860 | 1.07% | 26,500,000 |
| Giles Clarke | 10,527,448 | 1.27% | 29,100,000 |
| Nick Harrison | 2,245,025 | 0.27% | 17,210,000 |
| Douglas Ellenor | - | 1,950,000 |
* Dr John Wardle's interest in his share options are held through his interest in Tracarta Ltd
Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 24 years experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.
ENQUIRIES:
| Billy Clegg/Caroline Stewart, Financial Dynamics | Tel: +44 (0)207 831 3113 |
| Jerry Keen/Lindsay Mair, Astaire Securities Plc | Tel: +44 (0)207 448 4400 |
Notes to editors
The Platanillo Contract is an Exploration and Production Contract held with the Agencia Nacional de Hidrocarburos. The block is located in the Putumayo Basin of Colombia and the commercial area covers 10,341 hectares. The Company holds 100% of the contract and is the Operator.