Amerisur update

Amerisur Resources is an independent full-cycle oil and gas company focused on South America, with assets in Colombia and Paraguay. I have a holding in my growth portfolio (epic code: AMER).

Amerisur today issued an update on its Platanillo-7 well in Colombia, the 10^th new well of the current drilling campaign. The well has been successfully drilled, on time and under budget, to a total depth of 8,533ft (measured depth), achieving an offset of 1,181ft to the east of Platform 3N.  The well has been placed on commercial production at approximately 1,300 BOPD (on reduced choke).

CEO Wardle stated that "...The geological risk at Platform 3N was always higher than at previous wells simply because we were stepping out beyond the area where wells had been drilled previously. The fact that the structure at 3N and the flow rates surpassed our expectations bodes well for future development wells in the area, underlining the field potential going north..."

With respect to the on-going, but improving problems relating to the exportation of production, Wardle stated that "...We continue to work with all parties to resolve the constraints on our export processes, and I hope to be able to give an update on the Ecuador export option early in the New Year..."