7th Oct 2014 07:46
LONDON (Alliance News) - Amerisur Resources PLC Tuesday said its Platanillo-20 well in the Platanillo Field, Colombia, has been placed on production following successful tests.
The Platanillo-20 well has been drilled to a total depth of 8,357 feet. The reservoir cores recovered from the well are currently being analysed to allow a refinement of its resource model, it said in a statement.
The reservoir sections in Platanillo-20 indicated the presence of two oil columns, which represents the vertical thickness of an oil accumulation. Amerisur performed a production test on a 20 foot gross, 14 foot net oil column successfully, it said.
The well has now been placed on production at approximately 400 barrels of oil per day and an application for a long-term test of the reservoir will be submitted in the next few days to the Colombia's Agencia Nacional de Hidrocarburos, it said in a statement.
"The excellent oil quality encountered, even better than our Platanillo U sand crude is very exciting and will add substantial value to our overall field output. Once we have performed a few weeks of long term testing we will be able to confirm the development plan for this important new horizon," said Chief executive John Wardle.
"Additional 3D seismic in the north of Platanillo is underway, and I am confident these new, high quality data will demonstrate significant structures to add to our already impressive forward drilling inventory," Wardle added.
In the same statement, the company said its Serinco Rig D-10 is being moved to drill its Libélula-1 exploratory well, located to the west of the Platanillo field.
"This is an exploration prospect and of course carries exploratory risk; however on success it will add additional potential into our already very interesting and important mix of opportunities," said Wardle.
Amerisur shares were up 3.9% to 52.75 pence per share Tuesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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