Amerisur to Begin Data Interpretation at San Pedro Block

Amerisur announced an update on operations in Colombia and Paraguay.

Platanillo

The Company applied for a modification of the Platanillo Global Environmental License to the Ministry of Environment, Housing and Territorial Development (MAVDT) on January 21, 2011. That modification contemplated the construction of an access road to the southern part of the field and 8 new drilling locations within that section. The Company has maintained a close contact with MAVDT and has promptly provided all the information and assistance required by the environmental authorities. The proposal is under review by MAVDT.

It is expected that the drilling program will be underway during 4Q 2011. Given the delays occasioned by the permitting process the Company expects to complete 3 new wells during 2011, however the drilling program would continue consecutively should results merit, thus completing the total of 6 new wells during 1H 2012.

San Pedro Block Paraguay

The 13,000 km Aeromagnetometry program was completed on time and on budget and Fugro is well advanced with the data processing. The Company expects to begin interpretation during July 2011.

John Wardle, CEO, said, "The tremendous growth of activity in the Petroleum and Mining sectors in Colombia has placed an unprecedented load upon regulatory resources. This is an extraordinary situation, never seen before in the Colombian industry and has had an extraordinary effect upon the operations of all Operators in the country. Our respect for the environment where we work is paramount and is an integral part of our business. I believe we have maintained these high standards in our work and proposals to date. All preparations for the drilling program are complete, and have been so for some time, hence once we receive the approval of the environmental modification I expect to achieve rapid progress."

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