31 Dec 2018 12:33
31 December 2018
Amerisur Resources Plc
("Amerisur" or the "Company")
Retirement of Non-Executive Director
Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, confirms that Douglas Ellenor retired from the Board after ten years as of 31 December 2018.
Following the retirement of Dr Ellenor, the Board comprises two Executive Directors, a Chairman and five independent non-executive Directors, exceeding the expected level of independent director representation for an AIM-listed company.
Giles Clarke, Chairman of Amerisur, said:
"I would like to thank Dr Ellenor for his decade of service to Amerisur and for his significant contribution as a non-executive Director. The Board wishes Dr Ellenor all best wishes in his retirement."
ENDS
Enquiries:
Nick Harrison, CFO Amerisur Resources
| Tel: +44 (0)330 333 8246 |
Billy Clegg / Georgia Edmonds / Kimberley Taylor Camarco
| Tel: +44 (0)203 757 4980 |
Callum Stewart / Nicholas Rhodes / Ashton Clanfield Stifel Nicolaus Europe Limited
| Tel: +44 (0)20 7710 7600 |
Chris Sim / Alexander Ruffman Investec
| Tel: +44 (0)207 597 4000 |
Paul Shackleton / Dan Gee-Summons Arden Partners plc | Tel: +44 (0)20 7614 5900 |
About Amerisur Resources
Amerisur Resources is an experienced Colombian Operator with an extensive, strategic acreage position in the underexplored Putumayo in partnership with Occidental Petroleum ("Oxy") and a strategic acreage position in Llanos in CPO-5 with partner ONGC. Amerisur is the 100% owner and operator of the OBA pipeline, a key piece of strategic, cross-border export infrastructure delivering oil from the Putumayo in Colombia into Ecuador. Amerisur produces from two fields, Platanillo in the Putumayo which generates cash flow to fund its work programme and Mariposa-1 in the Llanos basin. Amerisur has recently announced a potentially transformational discovery at Indico-1, which significantly exceeded expectations - 283 feet gross, 209 feet net oil column.
Amerisur has a robust financial position with cash generation and balance sheet to fund its work programme.
These assessments are made in accordance with the standard defined in the SPE/WPC Petroleum Resources Management System (2007).
This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.
www.amerisurresources.com