Indico-1 Update

Source Press Release
Company Amerisur Resources PlcONGC 
Tags Production/Development, Exploration, Upstream Activities
Date October 31, 2018

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce that the rig mast has been raised at Indico-1, on the CPO-5 block ahead of spudding. The spudding of Indico-1 using rig E-2029 is expected shortly. Amerisur holds a 30% non-operated interest in the well, which is 70%-owned and operated by ONGC Videsh Ltd ("the Operator").  Photographs of the rig mast can be found on the Company's Twitter page @AmerisurResourc.

Indico-1 is targeting the same play as the successful Mariposa-1 well but is further up-dip in a larger structure. The Operator estimates a gross P50 recoverable resource at Indico-1 of 10.3 MMBO. CPO-5 is located to the south of the prolific Llanos 34 block and to the east of the Corcel fields and includes the producing Mariposa-1 well.

A further announcement will be made on completion of drilling operations.

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