Amerisur Encounters Net Pay at Well Platanillo-5

Amerisur Resources Plc announced an update on the well Platanillo-5 in the Platanillo Field, Colombia, third of a planned eight well drilling campaign.

The Company perforated the upper 30 feet of indicated net pay using a permanent completion assembly and "drop-off" tubing conveyed perforating guns. Over a flow period of 24 hours the interval produced in natural flow at a final stabilized rate of approximately 2,472 barrels of oil per day (bopd) of 31.8 degree API oil with trace water, while choked back and with wellhead pressure of approximately 61 psi.

The well has now been placed on commercial production and will be monitored to ascertain its optimum production rate. It is envisaged that the well will be produced at a controlled rate of approximately 1,500 bopd initially taking total Company controlled rate production up to approximately 3,500 bopd. The Company remains confident of achieving a year end production rate of 5,000 bopd.

The Company now plans to rig down and move the Serinco Rig D-10 and drill Platanillo-9 (so numbered due to the order in which wells were permitted with the Ministry of Mines and Energy), the fourth well of the current program from the same location (Platform 9), deviating the well to an offset of approximately 1,550 feet west of Platanillo-3.

"This is another impressive result from the Platanillo field. We continue to realize significant value in the asset, and I see significant further opportunity as we continue our development program," Amerisur Chief Executive John Wardle commented.

"I am very pleased with this latest result from Platanillo, which further underlines the potential we are dealing with. I would like again to congratulate Dr Wardle and our team in Bogota, who have continued to deliver success under very demanding conditions," Chairman of Amerisur Giles Clarke.