22nd Oct 2014 08:59
LONDON (Alliance News) - Amerisur Resources PLC on Wednesday said it has entered an application for a new exploration licence in Colombia via a joint venture with a subsidiary of Talisman Energy Inc.
Amerisur said it has entered an application with Colombian authorities to take a partial interest in the Put-30 exploration contract in the Putamayo basin, awarded to Talisman Colombia Oil & Gas Ltd in the Ronda Colombia licensing round.
Amerisur has entered into a 50-50 joint venture with Talisman Colombia, and its application would mean Amerisur becomes the operator of the contract.
The bid by Amerisur would include an additional 4% in royalties for the state, in addition to the baseline 8% royalty agreement, it said, while the total work programme would cost around USD27 million in the first, three-year exploration phase.
"We are very pleased to announce this important addition to our Putumayo portfolio," said Amerisur Chief Executive John Wardle.
Amerisur shares were up 2.0% to 50.75 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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