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Amerisur Resources Upgrades Colombian Production Assets Reserves

Wed, 06th Mar 2019 09:27

LONDON (Alliance News) - Amerisur Resources PLC on Wednesday reported an increase in the certified resources of its Colombian production assets.

The South America-focused oil and gas producer reported 17.8 million barrels of oil in working interest certified 1P proved resources in between the assets of Platanillo, CPO-5 and Mecaya.

The company owns a 100% stake in Platanillo, 50% in Mecaya and 30% in CPO-5.

Working interest Proved & Probable resources, 2P, amounted to 25.6 million barrels of oil.

This represents an increase of 28% in 1P and 24% in 2P reserves from year-end 2017, the company explained.

"The drilling success at Indico-1, together with the strong production behaviour observed at Mariposa-1 through the year have delivered a material increase in the company's reserve base. We look forward to further production and reserves increases as our exciting, fully funded drilling programme develops during the year," Chief Executive Officer John Wardle said.

Amerisur shares were trading up 1.9% at 17.02 pence each.

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