26th Aug 2014 10:23
LONDON (Alliance News) - Amerisur Resources PLC said Tuesday that successful drilling of its 14th well at the Platanillo field in Colombia confirms the potential of the additional field area that was recently approved by the Agencia Nacional de Hidrocarburos.
The reservoir section was logged, and log analysis indicated the presence of a 20 foot gross, 7 foot net oil column in the U sand formation, and the presence of a 13 foot gross, 12 foot net oil column in the N sand formation, said the company.
It tested the N sand, and a total 5 foot of the 12 foot net oil pay was perforated, and flowed 340 barrels of oil per day of 18.0 American Petroleum Institute oil on test. The company said that the test of N sand had been positive, and further supported its view that an important resource exists in the Platanillo-2ST1 unit.
It subsequently completed the well for commercial production from the U sand. A total of 5 foot of the 7 foot net oil pay was perforated, and flowed 530 barrels of oil per day of 29.7 American Petroleum Institute oil on test. It has now been placed on commercial production at around 360 barrels of oil per day, it said.
The development recently passed four million barrels of oil produced, the company said, building its confidence in its performance.
Current field production remains constrained in the range of 7,000 to 7,500 barrels of oil per day, it said.
It said that samples from the next well it will core, Platanillo-20, will allow it to further categorise the petrophysical properties of its reservoirs. It said it was probable that this data would allow it to justify an increase in the "expected ultimate recovery from the reservoirs and a consequent increase in certified reserves."
Shares in Amerisur were trading down 2.5% at 64.62 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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