Amerisur Resources PLC Announces Audited Consolidated Financial and Production Results for the Year Ended December 31, 2017; Provides Production Guidance for the Year 2018
For the year ended December 31, 2017, the company reported average production of 4,857 BOPD, up 58%, with an average realised price of $50.0 per barrel. Exploration, drilling of seven exploration and appraisal wells: Platanillo-22 from Pad 2N at the beginning of the year identified an extension to the field to the north, with a deeper oil-water contact; and mariposa-1 discovery in the CPO-5 block which sits on trend with the prolific Llanos-34 contract.
For the 2018, up to 14 fully funded exploration and development wells planned by the company. The company expects to ramp up of near term exploration activity: N Sand anomaly at Pintadillo-1 is one of four such anomalies identified by the Company in the central part of the Platanillo block. The well is targeting estimated P50 resources of 11.44 MMBO; regulatory permission received to drill the Miraparriba-1 well in the Put-8 block, a low risk U and T sand light oil structural target, with estimates of P50 gross resources of 4.4 MMBO. The well is expected to spud in early May 2018; and Indico-1, the first new well at CPO-5, estimated to hold P50 gross resources of 10.3 MMBO, is expected to spud by May 2018.