Amerisur Resources PLC Mariposa-1 Update CPO-5 Block (4780G)
30 May 2017 - 4:02PM
UK Regulatory
TIDMAMER
RNS Number : 4780G
Amerisur Resources PLC
30 May 2017
30 May 2017
Amerisur Resources Plc ("Amerisur" or the "Company")
Mariposa-1 Update CPO-5 Block
Amerisur Resources Plc, the oil and gas producer and explorer
focused on South America, is pleased to provide the following
update on drilling activities in the CPO-5 contract in
Colombia.
The 7" production liner was successfully run and cemented in
Mariposa-1, the exploration well drilled in the north-western part
of the CPO-5 block. An interval of 12 feet at the top of the 120
feet of net pay logged in the L3 sandstone was perforated in order
to perform a short-term test with a drill-stem-test temporary
string.
The well was tested in natural flow over a variety of choke
sizes, together with appropriate closed-in pressure build up
periods to ascertain reservoir parameters. The natural controlled
flow rate recorded was approximately 4,601 barrels of oil per day
of 40.8 degree API oil with a water cut of 0.35% and 348psi flowing
wellhead pressure over a 40/64" choke.
The well has now been closed in pending interpretation of the
short term test data.
John Wardle, Chief Executive Officer, commented:
"This is a very promising initial short term test of Mariposa-1,
the high wellhead pressure during the final flow period indicates
strong further production potential. The Company is now considering
the results of the test together with our partner to confirm plans
for a potential long term test, the potential for further appraisal
wells on this structure and the potential to declare the well a
discovery under the terms of the CPO-5 Exploration and Production
Contract held with the Agencia Nacional de Hidrocarburos."
Competent person: Technical information in this announcement has
been reviewed by John Wardle Ph.D., the Company's Chief Executive.
John Wardle has 31 years' experience in the industry, having worked
for BP, Britoil, Emerald Energy and Pebercan, and is a trained
drilling engineer.
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.
ENDS
Enquiries:
Nick Harrison, CFO Tel: +44 (0)330 333 8246
Amerisur Resources
Billy Clegg/Georgia Edmonds Tel: +44 (0)203 757 4980
Camarco
Callum Stewart/Ashton Clanfield Tel: +44 (0)20 7710 7600
Stifel Nicolaus Europe Limited
Chris Sim/George Price Tel: +44 (0)207 597 4000
Investec
Darrell Uden/Marcus Jackson Tel: +44 (0)207 653 4000
RBC Capital Markets
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 the Platanillo field in southern
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
field, which is currently producing circa 5,200 BOPD. The Company
has a strong position in the Putumayo basin and has a cluster of
near term activity assets around the OBA export line. It has a
diverse portfolio of longer term exploration assets.
As a reminder, Amerisur acquired its 30% interest in the CPO-5
block as part of the acquisition of Petro Dorado South America SA
(PDSA), a subsidiary of Petro Dorado Energy Ltd (PDEL). In that
contract ONGC Videsh is the Operator and holds a working interest
of 70%.
www.amerisurresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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