Ave-1 Update

3 February 2014

Amerisur Resources Plc ("Amerisur" or the "Company")

Ave-1 Update

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce an update on the well Ave-1 in the Fenix Block, Colombia. Ave-1, an exploration well in the Fenix Block has been drilled to a depth of 3,300ft MD (2,752ft TVD) with a maximum inclination of 44.7 degrees.

The objective of the well was to evaluate the oil potential in the Mugrosa formation, located below the reservoirs previously discovered in the Esmeraldas formation by the well Isabel-1. To the drilled depth no prospective sands were encountered in the Mugrosa formation. Within the overlying Esmeraldas formation, a gross column of 99ft TVD and net column of 73ft TVD of Hydrocarbon bearing sands was encountered.

This zone was tested and flowed limited volumes of 32.7 degrees API oil and associated gas. Log analysis indicates a slightly lower reservoir quality than that observed in the shallow Esmeraldas section of Isabel-1. The Company is currently preparing a detailed evaluation and stimulation programme for the well.

John Wardle, CEO, commented: "It is slightly disappointing that the Mugrosa at this point did not contain prospective sands; however the confirmation of the continuation of the Esmeraldas sand bodies first seen in Iguasa-1, then tested in Isabel-1, is great news and gives us further important insight into what could be an extensive resource in the Fenix block. We remain very enthusiastic about this area and will continue our work to develop the important potential of Fenix, made up of multiple light oil play types within a complex, but increasingly understood structural system."

ENDS

Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 28 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

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