Amerisur in Colombia

The re-entry of the Alea-1 well has been completed without operational problems using the work over rig Pride 6. The well was flowed at a controlled rate of approximately 160 bop/d.

The well has now been closed in again to conduct sampling and analysis, and is expected to return to production and begin Long Term Testing following the mobilization of the drilling rig Pride 17 to the Alea-1 location. This is expected to be complete within the next 15 days.

Oil production will be delivered to the Santana terminal, operated by Gran Tierra Energy Colombia for subsequent export.

Platanillo-1, the first new well in a two-well program, has been drilled to a total depth of 8,390 feet. The reservoir section was encountered 55 feet deeper at the Platanillo-1 location, which is located approximately 2,200 meters from Alea-1.

"The results from Platanillo-1 are also extremely important for the definition of the size of the field at Platanillo, since this firm knowledge allows us to make the best appraisal and development decisions in the future," said Amerisur CEO Dr. John Wardle.

It has been temporarily plugged to allow the rig to be released to drill Platanillo-2. Platanillo-1 remains a potential candidate for a subsequent re-entry and sidetrack to evaluate reserves up-dip of the current reservoir entry point. The drilling rig Pride 17 is currently being moved to the Alea-1 location. Platanillo-2 will be drilled directionally from that location, towards a culmination, which is expected to be higher on the structure than Alea-1.

Platanillo-2 will be drilled to a depth of approximately 8,300 feet over a period of around 30 days. Subsequent testing of the well will be performed using the existing facilities installed for Alea-1.

Amerisur Resources Plc holds a 25% working interest in this block under the Platanillo E&P Contract with the Colombian National Hydrocarbons Agency. Repsol YPF holds 35%; and Ecopetrol S.A., with 40%, is the operator.