21 May 2012 07:00
21 May 2012
Amerisur Resources Plc ("Amerisur" or the "Company")
Paraguay Update
Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce it has received a Prospection Permit by the Ministry of Public Works and Communications of the Republic of Paraguay for the Espartillar block in Paraguay.
The area covers approximately 2,400,000 hectares in the Piriti-Pilar basin in western Paraguay. This basin is believed to be an extension of the producing Lomas de Olmedo sub-basin in Argentina.
The Company will now commence initial studies on this block, alongside Las Palmas and Coronillo blocks, which cover approximately 2,400,000 and 402,000 hectares respectively to determine further detailed gravity data in these new blocks. Depending on these results, the Company will decide if it will apply for a Concession Contract for exploration and exploitation and seek farm out opportunities in these assets in order to acquire seismic data and drilling of these prospects to be developed.
ENDS
Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 27 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 FTI Consulting | Tel: +44 (0)207 831 3113
| ||
| Tel: +44 (0)207 653 4000 |