Platanillo-24 Update

Source Press Release
Company Amerisur Resources Plc 
Tags Exploration, Discovery, Upstream Activities
Date January 09, 2017

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce an update on the drilling of well Platanillo-24 in Colombia. Platanillo 24 has been drilled under time and under budget, to a total depth (TD) of 8,485ft measured depth (MD), achieving an offset of 1,275 ft to the east of Platform 3N.

This well was designed as an infill well on the most northern developed lobe of the Platanillo field, located between wells Platanillo 7 and 17. The reservoir section was logged and initial log analysis indicated the presence of 67.5ft gross, 38ft net oil column in the U sand formation. The analysis of T sand indicates a 14ft gross and 8ft net oil column. The N sand was not well developed at this location, in line with the Company's seismic attributes model. The well is currently being completed for commercial production from the U sand and it is expected to produce into the Pad 3N facilities.

Subject to resolution of local social protests, the Company plans to mobilise the Serinco Rig D-10 to Pad 2N, in order to drill Platanillo 22, the first appraisal well from Pad 2N, the furthest north Pad on the Platanillo block.

John Wardle, Chief Executive Officer of Amerisur, commented:

"Platanillo 24 is a good result, the second of our planned infill wells. The well was drilled to TD in just over 15 days at a cost of under US$2M. I look forward to successfully initiating production from the U sand."

In accordance with the AIM Rules - Note for Mining and Oil & Gas Companies - June 2009, the 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.

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