31st Mar 2014 11:47
LONDON (Alliance News) - Amerisur Resources PLC Monday said it has increased its certified reserves and resources for its exploration and production assets in Colombia and Paraguay.
The oil and gas producer said the independent report provided by Petrotech Engineering Ltd showed that its proven gross field reserves increased 65% to 19.8 million barrels of oil from 12.0 million.
The company also said the report showed its proven and probable reserves increased 9.7% to 32.9 million barrels of oil from 29.9 million barrels, representing a Net Present Value to Amerisur after tax of USD2.0 million undiscounted or USD1.3 million at a 10% discount rate.
Amerisur said it has also calculated additional prospective resources within the structure of the Platanillo field at 35.3 million barrels of oil on a P50 basis.
Last Week, Amerisur noted that its a high controlled test at its twelfth new well in the Platanillo field showed 1,527 barrels of oil per day from the well, and it has now been choked back and placed on commercial production at roughly 1,100 barrels of oil per day.
The company said it is currently extending the attribute based mapping of the N sand prospect within the Platanillo contract area in order to estimate the reserves and resources associated with this prospect which has been proven to contain oil in the well Platanillo-2.
It said the analysis is expected to be complete by the third quarter and is expected to add further important potential within the Platanillo contract area.
Amerisur Resources shares were down 0.8% to 55.78 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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