Executive Summary
Amerisur Resources is an oil and gas explorer and developer focused on South America. Its countries of operation are Columbia and Paraguay.
A new management team was appointed during the course of 2007 focused on taking Amerisur towards production. It has been doing this by striving to deliver production, generate cash flows and increase Amerisur's exposure to low risk, high impact prospects.
Specifically Amerisur Resources has interests in Columbia where they have two prospects, Platanillo and Fenix. The Company has 100% working interest in both sites. In Paraguay, Amerisur own 100% two sites, San Pedro Block and the Curupayte Block.
Company History
2009
• Increased interest to 100% interest in Platanillo block after being appointed operator of the contract, in line with strategy of having controlling interest in prospects.
• Reinterpretation of existing seismic and well data reveals attractive opportunities in Paraguay – completed comprehensive geological and geo-physical reinterpretation.
• 100% equity in two Paraguayan blocks, targeting farm out agreements.
• Evaluation period of the Platanillo contract completed and the wells Alea-1R and Platinillo-2 have been closed in and memory gauges retrieved for data analysis, with the objective of presenting the final technical/economic report to ANH by mid June 2009.
2008
• Appointed Operator of the Platanillo contract in Colombia, bringing economic benefits that will help to facilitate the evaluation of the block.
• Recommenced long-term testing operations of Alea-1R and Platanillo-2 wells following the installation of upgraded facilities, with both wells tested individually and simultaneously under natural flow and with artificial lift conditions.
• Appointed as unrestricted Operator for the purposes of the Mini-Ronda 2008.
• Dr Douglas Ellenor appointed as Non-Executive Director.
Previously
• Acquired an additional 35% interest in the Fénix block through control of the holding company to gain 100% economic benefit of the Fénix block.
• Acquired and processed 103km2 of new 3D seismic data on the Fénix block.
• Well Alea 1 successfully re-entered and placed on test production.
• Platanillo 1 and 2 drilled on time and within budget. Two new zones tested oil in the Platanillo-2 well.
• Company raised £16.9m before expenses through two share placings to enable the new…
