AMER.L Regulatory News (AMER)

 26 August 2014

Amerisur Resources Plc

Platanillo-18 Update

· 14th successful new well in the current campaign in Platanillo field

· Confirms potential in the additional field area recently approved by the Agencia Nacional de Hidrocarburos ("ANH")

· High controlled test rate of 340 BOPD of 18.0 °API oil in N sandstone

· Successful Testing of N sand, coupled with previous N sand test in Platanillo-2 likely to convert prospective resources into 2P reserves in 2015

· High controlled test rate of 530 BOPD of 29.7 API oil in U sandstone

· Placed on commercial production at approximately 360 BOPD from U sandstone

· Rig moving to drill Platanillo-20 on Platform 5S

Amerisur Resources Plc ("Amerisur" or the "Company"), the oil and gas producer and explorer focused on South America, is pleased to announce an update on the well Platanillo-18 in the Platanillo Field, Colombia, the 14th new well of the current drilling campaign, in addition to three successful sidetracks.

The well has been successfully drilled to a total depth of 9,511ft MD, achieving an offset of 3,763ft to the south-west of Platform 9S, towards the area recently added to the commercial area of the Platanillo field.

The reservoir section was logged and log analysis indicated the presence of 20ft gross, 7ft net oil column in the U sand formation and the presence of 13ft gross, 12ft net oil column in the N sand formation using Schlumberger Anadrill Logging While Drilling tools.

The Company tested the N sand. A total of 5ft of the 12ft net oil pay was perforated and flowed 340 BOPD of 18.0 API oil on test.

The Company subsequently completed the well for commercial production from the U sand. A total of 5ft of the 7ft net oil pay was perforated and flowed 530 BOPD of 29.7 API oil on test. The well has now been placed on commercial production at approximately 360 BOPD.

The Serinco Rig D-10 is currently being moved to Platform 5S to drill Platanillo-20. That well will be vertical and it will be cored. Platanillo-20 is classed as an infill well whose purpose is to further develop that area of the field.

Current field production remains constrained in the range 7,000 to 7,500 BOPD. The Colombia and Ecuador bi-national agreement has been ratified and provides for the movement of oil and gas between those countries under favourable terms. Ecuadorian documentation has been submitted and formal approval is expected soon. In the meantime the Colombian environmental license process is underway. All indications are that the transfer line will be in operation by the end of the year.

 John Wardle, Chief Executive Officer of Amerisur, commented:

"Platanillo-18 is another important result for the Company, adding further to our production base. The test of the N sand was very positive, and since this test is located at some 3.4 km from the only other N sand test in Platanillo-2ST1, it gives further support to our view of an important resource existing within that unit which we will continue to define and develop over the next few years. I am also pleased to report that the Platanillo field U sand development, albeit under production constraints, recently passed the 4,000,000 barrels of oil produced milestone, and our confidence in the reservoir performance continues to build. Platanillo-20, our next well will be cored in all proven and probable reservoir sections. These samples of the physical reservoir, which will be the first seen on surface in this field, will allow us to further categorise the petrophysical properties of our reservoirs, and will lead to enhanced understanding. It is probable that these data will allow the Company to justify an increase in the expected ultimate recovery from the reservoirs and a consequent increase in certified reserves. "

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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