Amerisur Resources PLC Mariposa-1 Update CPO-5 Block (4906N)
09 August 2017 - 4:00PM
UK Regulatory
TIDMAMER
RNS Number : 4906N
Amerisur Resources PLC
09 August 2017
9 August 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.
Mariposa-1, the exploration well drilled in May 2017, has been
officially classified as a discovery, as defined in the E&P
Contract executed with the Agencia Nacional de Hidrocarburos
(ANH).
In May 2017, Amerisur and its partner ONGC Videsh Ltd
successfully drilled the Mariposa-1 well to a total depth of
11556ft (MD). A 7" production liner was successfully run and
cemented in the well and 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 and indicated strong further
production potential.
The well has been closed in following interpretation of the
short-term test data. The Operator, ONGC Videsh has now presented
the "Aviso de Descubrimiento" (Advice of a discovery) to ANH. It is
expected to present the Evaluation plan, including provision for a
long-term test on Mariposa to ANH in the coming weeks, and once
approved, the Company is targeting for the well to come on stream
in H2 2017.
John Wardle, Chief Executive Officer, commented:
"We continue to be encouraged by the results of Mariposa-1 and
the future exciting potential within CPO-5. Preparations for
further drilling have commenced and we look forward to updating
shareholders on our progress."
Amerisur has a 30% (non-operated) working interest in the
contract, ONGC Videsh Ltd holds a 70% working interest and is the
Operator.
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
Amerisur Resources 333 8246
Billy Clegg/Georgia Tel: +44 (0)203
Edmonds 757 4980
Camarco
Callum Stewart/Nicholas Tel: +44 (0)20
Rhodes/ Ashton Clanfield 7710 7600
Stifel Nicolaus Europe
Limited
Chris Sim/George Price Tel: +44 (0)207
597 4000
Investec
Darrell Uden/Marcus Tel: +44 (0)207
Jackson 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 6100 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 including the
Platanillo block, Put-8, Put-12 and Coati. A 40% working interest
in contract Put-9, acquired from Talisman Colombia, 50.5% of
Tacacho and 100% of Terecay acquired from Pacific are currently
awaiting approval by ANH. It has a diverse portfolio of longer term
exploration assets.
www.amerisurresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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