Amerisur Resources PLC ("amerisur" Or the "company")  Mariposa-1 Update CPO-5 Block

Source Press Release
Company Amerisur Resources Plc 
Tags Upstream Activities, Exploration, Discovery
Date May 31, 2017

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide the following update on drilling activities in the CPO-5 contract in Colombia.

The 7" production liner was successfully run and cemented in Mariposa-1, the exploration well drilled in the north-western part of the CPO-5 block. An interval of 12 feet at the top of the 120 feet of net pay logged in the L3 sandstone was perforated in order to perform a short-term test with a drill-stem-test temporary string.

The well was tested in natural flow over a variety of choke sizes, together with appropriate closed-in pressure build up periods to ascertain reservoir parameters. The natural controlled flow rate recorded was approximately 4,601 barrels of oil per day of 40.8 degree API oil with a water cut of 0.35% and 348psi flowing wellhead pressure over a 40/64" choke.  

The well has now been closed in pending interpretation of the short term test data. 

John Wardle, Chief Executive Officer, commented:"

This is a very promising initial short term test of Mariposa-1, the high wellhead pressure during the final flow period indicates strong further production potential. The Company is now considering the results of the test together with our partner to confirm plans for a potential long term test, the potential for further appraisal wells on this structure and the potential to declare the well a discovery under the terms of the CPO-5 Exploration and Production Contract held with the Agencia Nacional de Hidrocarburos."

Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 31 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd