- Amerisur Resources said an exploration well in Colombia in which it had a 30% stake didn't find any oil.

The Calao-1X exploration well was drilled to a final depth of 11,445 feet.

The target LS3 reservoir was logged and no hydrocarbon potential was identified, the company said.

Amerisur Resources said the hole could be used as a water disposal well in the future.

'A disappointing result from Calao, however the information obtained from the well is allowing us to further refine our model in this important area, where we have already established material reserves through the drilling of Mariposa-1 and Indico-1,' chief executive John Wardle said.

'It is important to ensure that we fully re-evaluate Pavo Real-1X before committing to drill, and Amerisur has recommended to the operator that drilling focus should return to the Indico structure for the moment, with the drilling of Indico-2, a low risk appraisal well.'

'The Calao result has no impact on the previously disclosed CPO-5 reserves for year-end 2018.' At 1:49pm: [LON:AMER] Amerisur Resources PLC share price was -2.65p at 14.21p

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