AMER.L Regulatory News (AMER)

07 October 2014

Amerisur Resources Plc

Platanillo-20 Update

· 15th successful new well in the current campaign in the Platanillo field.

· Confirms potential for T sand production

· Controlled test rate of 1,041 BOPD of 38.2 °API oil in T sandstone. Placed on production at approximately 400 BOPD

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

· Rig moving to drill Libelula-1 on Platform 1N to a new structure identified to the west of the Platanillo field

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-20 in the Platanillo Field, Colombia, the 15th new well of the current drilling campaign, in addition to three successful sidetracks.

The well has been successfully drilled vertically to a total depth of 8,357ft MD and was cored over the N, U, T and Caballos basal sands. The reservoir cores recovered in Platanillo-20 are being analysed with the objective of physically determining the properties of the reservoirs, which will allow a refinement of the reserves model, as announced in the Interim Results for the six months ended 30 June 2014.

The reservoir sections in Platanillo-20 were logged and log interpretation indicated the presence of 55ft gross, 27ft net oil column in the U sand formation and the presence of 20ft gross, 14ft net oil column in the T sand formation using both Schlumberger Anadrill Logging While Drilling and Schlumberger wire line tools.

The Company performed a production test of the T sand. This is only the second production test of the T sand interval, the first having been performed by the previous operator in Platanillo-2 in 2007.

A total of 4ft of the 14ft net oil pay was perforated and this interval flowed 1,041 BOPD of 38.2 API oil with trace water in natural flow over a 48/64" choke with 84 PSI of flowing pressure at the wellhead.

The well has now been placed on production at approximately 400 BOPD from the T sand interval and an application for a Long Term Test (LTT) of this reservoir will be submitted in the next few days to the Agencia Nacional de Hidrocarburos ("ANH").

The petrophysical evaluation and the preliminary observations of the cores taken in Platanillo-20, combined with the T sand test results have confirmed the T sandstone as a separate oil reservoir within the field. Similar pay intervals and reservoir quality have been identified in other wells drilled during the current campaign, including Platanillo-6 (10ft pay), 7 (24ft pay), 10ST (12ft pay), 11 (17ft pay) y Alea 1R ST1 (5ft pay).

The Serinco Rig D-10 is currently being moved to Platform 1N to drill well Libélula-1. That well will be directional and is classed as an exploratory well whose purpose is to evaluate the productive potential of a new structure identified to the west of the Platanillo field.

John Wardle, Chief Executive Officer of Amerisur, commented:

"Platanillo-20 is another significant result for the Company, with important implications for the overall reserves of the field. The test of the T sand was very positive, and since this test is located at some 1,700 metres from the only other T sand test, in Platanillo-2, 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 years. In addition, the excellent oil quality encountered, even better than our Platanillo U sand crude is very exciting and will add substantial value to our overall field output. Once we have performed a few weeks of LTT we will be able to confirm the development plan for this important new horizon. Our business strategy continues to evolve within the Putumayo, soundly based on our Platanillo field, where this recent work demonstrates the important upside yet to come. Our efforts to establish an export connector into Ecuador continue on schedule, as does our exploration work in the Put-12 block. The additional 3D seismic in the north of Platanillo is underway, and I am confident these new, high quality data will demonstrate significant structures to add to our already impressive forward drilling inventory. Additionally I welcome the imminent drilling of Libélula-1. This is an exploration prospect and of course carries exploratory risk; however on success it will add additional potential into our already very interesting and important mix of opportunities within the Putumayo basin."

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.

ENQUIRIES: