Amerisur Resources Plc announced an update on the well Platanillo-9 in the Platanillo Field, Colombia, the fourth of a planned eight well drilling campaign.
Platanillo-9 is being drilled directionally to a reservoir target approximately 1,525 feet west of the bottom hole location of Platanillo-3. The well is currently at a depth of 5,725 feet, having successfully set and cemented 9.5/8". Total depth of the well will be approximately 8,650 feet. The Company expects log data from this well and to update the market by the middle of November.
The wells in the Platanillo field continue to produce commercially at a controlled rate of approximately 3,800 barrels of oil per day (bopd). The Company expects to exit 2012 with a production rate of 5,000 bopd.
After Platanillo-9 is completed and placed on production the Company intends to shift drilling operations to Platform 5 (the second new drilling location in the south of the field), for which civil works are already well advanced and will be ready by the time Platanillo-9 is completed. That platform has been redesigned to incorporate 4 drilling cellars as at Platform 9. Amerisur is also completing preparations to begin work on the northern platforms as well as further platform located between the Alea location and Platform 5.
"Drilling is progressing to plan and I look forward to updating shareholders on the results from Platanillo-9 and on our exciting development program as it evolves," said Chief Executive Officer John Wardle.
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