30th Jan 2014 14:47
LONDON (Alliance News) - Amerisur Resources PLC Thursday said a seismic acquisition programme has been initiated on its San Pedro block in Paraguay.
The oil and gas producer said the study will acquire roughly 416 kilometres of new, high quality 2D seismic data over five key areas.
The company said the five leads, which are on its Lima and Santa Helena sites, were developed based on reprocessed legacy seismic studies and chemical, gravity and magnetic geotechnical data acquired by Amerisur in 2009, 2011 and 2013.
Amerisur estimates a potential unrisked stock tank oil initially in place for the Lima formation of 501 millions of barrels of oil, with unrisked prospective resources of 200 million barrels, while the Santa Elena leads are estimated to hold unrisked STOIIP of 1,206 million barrels with unrisked prospective resources of 422 million barrels.
The company said Global Geophysical Services will carry out the seismic tests and the programme is expected to take 60 days.
It then expects to select drilling locations with a view to drilling the first new well in San Pedro towards the end of 2014.
Amerisur Resources shares were up 2.0% to 50.5 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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