StockMarketWire.com - Amerisur Resources has announced that it has successfully mobilised Serinco rig D10 to Pad 2N in the north of the Platanillo field, in order to drill well Platanillo-22.

The Company said this is following resolution of regional social issues, in particular the provisional agreement for the substitution of illegal crops between Putumayo communities and the Colombian National Government.

The rig is now 100% mobilised and 85% rigged up.

Subject to function tests it is expected to spud Platanillo-22 on 11 March.

The well has a planned depth of 8,711 feet, and is targeting the U and T sands in a structural closure defined on 3D seismic as a potential continuation of the Platanillo Field. The well is expected to take approximately 30 days to drill and complete.

John Wardle, CEO said "I am very pleased that agreements between Government and local communities, in tandem with our own social management programmes, have removed barriers to the drilling on Pad 2N. Platanillo-22 is a step out well and as such carries more risk than wells drilled within the previously established field envelope. However, on success, this and subsequent wells will augment both reserves and production at Platanillo. The recent improvements in social conditions also augur well for our planned exploration in the N sand anomaly to the north of Pad 2N and Put-12. I look forward to updating the market on developments as they occur."




At 1:05pm: [LON:AMER] Amerisur Resources PLC share price was -1p at 21.25p



Story provided by StockMarketWire.com