2 Mar 2009 07:00
2nd March 2009
Amerisur Resources Plc ("the Company")
Platanillo- Operations Update
Amerisur Resources Plc, the oil and gas explorer and developer focused on South America, is pleased to present the following update on Platanillo operations.
In view of the force majeure condition which began on 20th November 2008 and ended on 4th January 2009, the Agencia Nacional de Hidrocarburos (ANH) awarded an extension of the evaluation period of the Platanillo contract of 46 days. That extension terminated at 00:00hrs 24th February 2009. As such the wells Alea-1R and Platanillo-2 have now been closed in and memory gauges were retrieved for data analysis.
Amerisur, as operator of this contract is now analysing these data, together with additional information acquired during the evaluation period, with the objective of presenting the final technical/economic report to ANH by the end of May 2009.
During the last testing period the average production from Alea-1R was 144 BOPD and from Platanillo-2 111 BOPD. Total net oil production from Alea-1R to date was 21,876 BO, and from Platanillo-2 was 11,211 BO.
The Company is operator of the block and holds a 60 per cent working interest through its subsidiary, Amerisur Exploración Colombia under the Platanillo Exploration and Production Contract with the ANH. Ecopetrol S.A. holds a 40% interest.
Ends
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/Andrew Raca, Blue Oar Securities Plc | Tel: +44 (0)20 7448 4400 |