Amerisur Resources PLC Operational and production update (2677X)
09 August 2018 - 4:01PM
UK Regulatory
TIDMAMER
RNS Number : 2677X
Amerisur Resources PLC
09 August 2018
9 August 2018
Amerisur Resources Plc ("Amerisur" or the "Company")
Operational and production update
Amerisur Resources Plc, the oil and gas producer and explorer
focused on South America, is pleased to provide an operations
update including unaudited production from the Company's two
producing fields for the month of July 2018.
Chiritza
The Chiritza re-pumping station project continues to advance
ahead of schedule. On 6 August 2018, the tie-in of the Chiritza
manifold to the RODA main line was successfully performed. The
Company is currently installing the booster pumps and control
systems. The Chiritza station is expected to be commissioned in
September 2018, on budget and ahead of schedule. Once completed
Amerisur will have access to a minimum daily carrying capacity of
9,000 bopd through the RODA system. The Company wishes to express
its gratitude to Petroamazonas EP, RODA and the Ecuadorian
Government for their support in expediting this highly complex
engineering operation.
Platanillo-22 Workover
Further to the announcement on 24 July 2018, the initial phase
of the Platanillo-22 workover has been successful. The logs run in
the well indicated that a severe degradation of the cement sheath
had occurred, giving direct communication to a deeper aquifer. This
communication served to reduce oil production significantly while
increasing water cut and flowing water into the oil leg of the
reservoir. The reason for this degradation is not known. A cement
squeeze operation was performed, and subsequent logs indicated that
full integrity between the oil leg and the aquifer has been
recovered. The well was recompleted and partially perforated on 2
August 2018 in order to confirm the isolation at low production
rates. The well is now producing approximately 360 bopd at a low
pump rate, and the water cut is at 3.2% and steadily declining.
This water is assumed to be a product of the water flowed into the
oil leg while the aquifer cross flow was occurring. The well will
remain under observation at these parameters for approximately a
further five days, after which a further perforation and pump
increase will be performed to increase production rate.
Pintadillo-1
The Company expects to mobilise Rig D-10 to drill Pintadillo-1
once the ongoing work on Platanillo-22 is completed. A further
announcement will be made on the date of spud. 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.
July production
Total production during the month of July was 150,911 BO,
equating to an average daily production of 4,868 bopd, with peak
daily production of 5,119 bopd. July production was impacted by the
work on Platanillo-22. Total OBA export volume was 121,785 BO,
equating to an average daily throughput of 3,929 BO, with peak
daily throughput of 4,547 BO. The data has not yet been approved by
the Colombian Agencia Nacional de Hidrocarburos (ANH) or national
customs and tax authorities DIAN and may be subject to
revision.
John Wardle, CEO of Amerisur Resources said:
"I am delighted the Chiritza re-pumping station upgrade is on
budget and ahead of schedule and am grateful to the Ecuadorian
Government for their support in this complex engineering project.
July production was impacted by the work on Platanillo-22, which to
date has been successful. We are ready for the upcoming drilling
programme and I look forward to updating shareholders on its
progress."
ENDS
Enquiries:
Nick Harrison, CFO Tel: +44 (0)330 333 8246
Amerisur Resources
Billy Clegg / Georgia Edmonds Tel: +44 (0)203 757 4980
/ Kimberley Taylor
Camarco
Callum Stewart / Nicholas Rhodes Tel: +44 (0)20 7710 7600
/ Ashton Clanfield
Stifel Nicolaus Europe Limited
Chris Sim / Alexander Ruffman Tel: +44 (0)207 597 4000
Investec
Paul Shackleton / Dan Gee-Summons Tel: +44 (0)20 7614 5900
Arden Partners plc
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
BO barrels of oil
bopd barrels of oil per day
mmbo millions of barrels of oil
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contact rns@lseg.com or visit www.rns.com.
END
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