19th Jun 2008 07:00
19th June 2008
Amerisur Resources Plc ("the Company")
Operator status re Platanillo Contract
Amerisur Resources Plc, the oil and gas explorer and developer focused on South America, is pleased to announce it has become Operator of the Platanillo contract in Colombia.
The appointment of Amerisur as Operator has been ratified by the Agencia Nacional de Hidrocarburos (ANH), the contract governing body.
The partners decided that this change would bring economic benefits which will facilitate the evaluation of the block. Amerisur expects to perform the handover with ECOPETROL and begin operations during June 2008, including the installation and commissioning of the equipments required by the Ministry of Mines and Energy for the simultaneous long-term testing of the wells Alea-1 and Platanillo-2.
The Company holds a 25% working interest in this block through its subsidiary, Amerisur Exploración Colombia under the Platanillo Exploration and Production Contract with the ANH. Repsol Exploración Colombia S.A. holds 35% and Ecopetrol S.A. holds a 40% interest.
Dr. John Wardle, Amerisur´s Chief Executive Officer commented:
"Becoming operator in this contract is a great step forward for Amerisur. Besides reiterating the progress we have made during this last year, it demonstrates the confidence of our partners in Amerisur. We believe that this change will allow us access to a reduced cost base and more flexible technical options for the future appraisal and development of this exciting project."
Mr. Giles Clarke, Chairman commented:
“The Board is very pleased with our development to Operator status. We look forward to providing an operational update in due course.”
- Ends -
Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 23 years experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.
ENQUIRIES:
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Billy Clegg/Caroline Stewart, Financial Dynamics
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Tel: +44 (0)207 831 3113
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Jerry Keen/Rhod Cruwys, Blue Oar Securities Plc |
Tel: +44 (0)20 7448 4400 |
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