Amerisur Resources

Spudding of Pintadillo-1, Platanillo N Sand

RNS Number : 3318Z
Amerisur Resources PLC
31 August 2018
 

31 August 2018

 

Amerisur Resources Plc ("Amerisur" or the "Company")

 

Spudding of Pintadillo-1, Platanillo N Sand

 

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce that the spudding of Pintadillo-1, in the central part of the Platanillo block using Rig D-10 occurred on 30 August 2018.


Pintadillo-1 is the first of up to three wells targeting the N Sand anomaly, which has been identified on 3D seismic. Pintadillo-1 will be a slightly deviated well, with a planned total measured depth of 8,448 feet.

 

The N Sand anomaly at Pintadillo is one of four such anomalies identified by the Company in the central part of the Platanillo block. It is estimated to hold P50 resources of 11.44 mmbo. Photos of the mobilisation operations have been posted to the Company's Twitter feed and can be found on the Company website.

 

Amerisur is 100% owner and Operator of the Platanillo block. The Company will make a further announcement in due course once the well has been drilled and logged.

 

John Wardle, CEO of Amerisur Resources said:

"We are delighted to have commenced the drilling of Pintadillo-1, in the central part of the Platanillo block, the first of up to three fully-funded wells targeting the N Sand anomaly and estimated to hold P50 resources of 11.44mmbo. This is an exciting time for the Company and I look forward to updating shareholders in due course on the results."

 

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

 

 

Notes to editors

Amerisur Resources is an independent full-cycle oil and gas company focused on South America, with assets in Colombia and Paraguay and production from two fields in Colombia. In 2016 Amerisur successfully built and is 100% owner of the strategic OBA oil transfer line into Ecuador.

 

In Colombia, the Company is operator and has a 100% working interest in the Platanillo block which includes the Platanillo producing field in the Putumayo basin, and holds a 30% non-operated working interest in the CPO-5 block containing the Mariposa-1 producing field in the Llanos basin.

 

Amerisur has a strong position in the Putumayo basin and has a cluster of near term activity assets around the OBA export line.

 

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 

 

These assessments are made in accordance with the standard defined in the SPE/WPC Petroleum Resources Management System (2007).

 

Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 32 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

 

Glossary

 

mmbo

million barrels of oil

 

P50

The probability that a stated volume will be equalled or exceeded. In this case, a 50% chance that the actual volume will be greater or equal to the volume stated.

 


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