Amerisur Columbian Well Tests Positive for Oil

In the Platanillo-2 well in Columbia, the 'B' limestone, 'T' sandstone and 'U' sandstone zones have been tested and all have produced crude oil, stated Amerisur Resources.

A short test was performed in the 'B' limestone zone from 8,395ft to 8,402ft measured depth and produced crude oil at 21 to 32 degrees API with water cut of 2% to 30% at rates up to 450 barrels flowed per day (BFPD) through a 32/64' choke. Given the encouraging result, the deeper 'T' sandstone zone from 8,450ft to 8,455ft measured depth was tested. That test initially produced crude oil at up to 33.4 degrees API at rates up to 430 barrels of oil per day (BOPD) through a 22/64' choke, after which an increased water cut up to 70% was observed in the oil flow. The reasons for the increase are currently under review.

Following these tests, both intervals were temporarily suspended to allow the lower 'U' sandstone to be tested. The lower 'U' sandstone was perforated from 8,295ft to 8,298ft. The well was flowed at a controlled rate of approximately 161 BOPD through a 16/64' choke before a pressure buildup period. The crude oil has an API of approximately 32 degrees and zero water.

The partners in the Platanillo Contract have presented a 'Notice of Discovery' to the Agencia Nacional de Hidrocarburos (ANH) in relation to the hydrocarbons discovered in the 'B' limestone and the 'T' sandstone. On the basis of those discoveries, and in accordance with the terms of the Exploration and Production Contract, Ecopetrol S.A., as operator of the Platanillo Contract has applied to ANH for the approval of an 'Area of Evaluation' over the Platanillo structure.

The Company holds a 25% working interest in this block through its subsidiary, Chaco Exploracion Colombia under the Platanillo Exploration and Production Contract with the ANH. Repsol Exploracion Colombia S.A. holds 35% and Ecopetrol S.A. (40%) is the operator.