Amerisur Encounters Net Pay at Platanillo Well

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, announced an update on the well Platanillo-3 in the Platanillo Field, Colombia, the first of a planned six well drilling campaign.

After analysis of the electric logs the Company has estimated that the Platanillo-3 well encountered an interval of 85 feet gross, 52 feet net pay in the U sands of the Villeta formation. Two additional zones within the Villeta may also contain potential pay and are under evaluation.

The Company perforated the upper 26 feet of indicated net pay using a Drill Stem Testing assembly. Over a flow period of 24 hours the interval produced in natural flow at a final stabilized rate of approximately 2,340 bopd of 30.4 degree API oil with trace water, while choked back and with wellhead pressure of approximately 44 psi.

The well has now been closed in to perform a pressure build up (PBU) test, in order to acquire pertinent reservoir pressure information. Once the PBU is completed the Company plans to install a permanent completion string and commence commercial production from the well. Given the high productivity of the well, Amerisur is evaluating completion options to maximize efficiency, including the installation of a downhole electrical pumping system.

With these excellent results from Platanillo-3 the Company plans to skid the Serinco Rig D-10 and drill the second well of the current program from the same location (Platform 9), deviating the well to an offset of approximately 600m south of Platanillo-3.

"This is an impressive result which underlines the potential of the Platanillo field. Our objective now is to push forward with the next wells, optimizing their costs and operational efficiency to deliver our production targets this year," Amerisur Chief Executive John Wardle commented.

"I would like to congratulate our CEO John Wardle and all staff and contractors who have been working under extremely arduous conditions. The geological analysis performed by Dr Wardle and his colleagues has been fully vindicated. The Board looks forward to more exciting developments of this field," Chairman of Amerisur Giles Clarke said. 


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