Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce that all resolutions put to shareholders at the Company's Annual General Meeting held earlier today were duly passed.. Amerisur is the 100% owner and operator of the OBA pipeline, a key piece of strategic, cross-border export infrastructure...
RNS Number: 8875 Y Amerisur Resources PLC 14 May 2019 14 May 2019. Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, provides an update on operations in Colombia ahead of its annual general meeting today.. The Sol-1 exploration well was spud on 11 May 2019.
RNS Number: 5110 Y Amerisur Resources PLC 09 May 2019 9 May 2019. Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, confirms that the Company will be holding its Annual General Meeting at 09:30 on 14 May 2019 at Sea Containers London, 20 Upper Ground, South Bank, London SE1 9 PD.. Amerisur is the 100% owner and operator of the OBA...
RNS Number: 1141 Y Amerisur Resources PLC 07 May 2019 7 May 2019. Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce that the company has received all the required approvals to begin transportation of third-party crude via the 100% owned OBA pipeline system to Ecuador. Access to this lower cost route to...
Amerisur Resources Plc (AMER.L) Announced that Dana Coffield, Non-Executive Director, has very sadly died in an avalanche whilst skiing in the Rocky Mountains. The Board extends its deepest sympathies to Dana's family.
RNS Number: 7144 W Amerisur Resources PLC 23 April 2019. Amerisur announces with great regret that Dana Coffield, non-executive Director, has very sadly died in an avalanche whilst skiing in the Rocky Mountains. Amerisur is the 100% owner and operator of the OBA pipeline, a key piece of strategic, cross-border export infrastructure delivering oil from the...
Amerisur Resources Finals today from Amerisur but all the information is in the price and I will report back from the conference call should anything emerge. It was by any standards an excellent year for the company, revenue was up 28% to $108.2m, adjusted EBITDA was up by 72% to 34m and with cash of $44.1m and no debt the company reported an operating profit of $11m ($0.3m). Production was 5,356 b/d with 4,113 b/d through the OBA where delivery of the Chiritza pumping station increased the capacity right within the Petroamazonas pipeline system to a minimum of 9,000 b/d. This opens up the possibility for exporting third party crude ‘in the coming months’. Exploration success at CPO-5 now firmly establishes production from that field and diversifies the production base whilst the farm-out with Occidental Andina adds a $93.5m exploration and appraisal programme in the Putamayo, bringing forward valuable drilling. The company also acquired the 100% stake in the Putamayo 14 block and after the period end acquired the remaining 50% of Putamayo 8 for $19.1m. Going forward the company has a fully funded work programme of $35m with ten wells planned across the Putumayo and CPO-5. Finally all this success added 27.8% to 1P reserves to 17.82m MMBO and 2P reserves were up 23.6% to 25.59 MMBO. What’s not to like about AMER at the moment, it has had exploration success delivering increasing production and revenue and has free cash flow. With the exciting position at CPO-5, partnering Oxy in the Putumayo and third party revenues from the OBA the company is in a very strong position to show significant growth this year and onwards.
Amerisur Resources Plc (AMER.L) Announced, in its final results for the year ended 31 December 2018, that revenues rose to $108.2 million from $84.7 million recorded in the previous year. Profit after tax narrowed to $1.6 million from $11.5 million. The Board is not recommending a dividend for the year ended 31 December 2018.
·Significant revenue growth of 28% to $108.2 m. ·Adjusted EBITDA increased by 72% to $34.0 m. ·Robust cash position of $44.1 m* and zero debt.
Amerisur Resources AMER has announced a drilling update from CPO-5 where the Calao-1X exploration well is dry in the LS3 reservoir, the formation was deeper than prognosis and located in an area without closure. The well could possibly be used for water disposal in the future but for now the next step is a further appraisal well on the Indico structure and it should be noted that this has no impact on current booked CPO-5 reserves. The company has also announced that a workover has been completed on Platanillo-8 to install a selective completion which enables perforation of the lower U sand which can be produced with existing production from the T sand which is now a combined 820 b/d, very impressive. Next stop is a similar operation on Platanillo-2 followed by Plat-7 and then a new infill well on Plat-26 followed by the re-entry of Plats-22 and 21 to side-track. Whilst a duster at a wildcat like Calao is disappointing it is not of much significance, I have even just gone back to my recent interview with John Wardle where he describes the location as being a ‘step out’ from Indico in an attempt to define the discovery. There will be likely be at least two appraisal wells and further exploration before the totality of the field is established and the significant upside for AMER remains hardly diminished by this result.
Amerisur Resources Plc (AMER.L) Announced, in an update on operations in Colombia, that the Calao-1X exploration well was drilled to a final depth of 11,445 feet, the LS3 reservoir was logged and no hydrocarbon potential was identified. The company analysis indicates that the formation was encountered deeper than prognosis and the well was located in an area without closure. The well has the potential to be used as a water disposal well in the future. The company and the Operator are currently integrating the results of this well into the general geophysical model while reviewing the model applied for the well Pavo Real-1. Meanwhile it is planned to drill a further appraisal well within the Indico structure
RNS Number: 9535 T Amerisur Resources PLC 26 March 2019 26 March 2019. Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, provides an update on operations in Colombia.. The Calao-1X exploration well was drilled to a final depth of 11,445 feet, the LS3 reservoir was logged and no hydrocarbon potential was identified.
Amerisur Resources AMER yesterday announced that it had exercised its right to first refusal on the Vestra sale of PUT-8 acreage to Gran Tierra Energy at a cost of $19.1m. The amount is easily funded from cash reserves built up in the last couple of years for just such an opportunity. Commitment is 3D seismic and a well when permission allows but much more importantly AMER get to put more oil down the OBA pipeline at financially beneficial economics. With the result from CPI-5 imminent and the Occidental deal bedding in I can think of few better investments in the sector.
Amerisur Resources (AMER.L) 17p £206m Following notification by Vetra Exploración y Producción Colombia SAS of the proposed sale of its 50% working interest in block Put-8, Amerisur has exercised its right of first refusal to acquire that working interest. Following approval by the Colombian National Hydrocarbons Agency (ANH) the Company will hold 100% working interest and operatorship in Put-8. The consideration for the acquisition is USD $19.1 million which will be met from internal resources. “The opportunity to increase our working interest and acquire operatorship was very attractive to us, consolidating even further our position around the OBA pipeline and bringing more operational flexibility. In the interim, while awaiting approval by ANH, preparations for the exciting drilling programme in the block will continue."
RNS Number: 3717 T Amerisur Resources PLC 20 March 2019 20 March 2019. Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, provides an update on corporate activities in Colombia.. The consideration for the acquisition is USD $19.1 million which will be met from internal resources..
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