Amerisur Resources has provided the following update on the Platanillo contract in Colombia.
On Thursday, December 17, 2009, the Ministry of Environment in Colombia (MAVDT) granted the Global Environmental License for the project named "Platanillo Hydrocarbons Exploitation Area". The award of this license will allow the Ministry of Mines and Energy to authorise the commencement of exploitation activities and thus give continuity to the production from the wells Alea-1R and Platanillo-2.
Total current production is approximately 300 BOPD.
The Board of Amerisur further announces that on December 22, 2009 the Renumeration Committee granted options to directors over 14,500,000 new ordinary shares of 0.1p each, representing 1.74 percent of the current issued share capital, with an exercise price of 11.05p per share. The exercise price is calculated by reference to the closing price of the Company's shares for the five days prior to the date of grant. There was no consideration paid upon the grant of the options and there are no performance criteria attached to the exercise of the options. These options are exercisable at any time from December 23, 2009 to December 23, 2019.
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