Amerisur Resources buys stakes in Colombia oil sites

The company is to buy the remaining 50% interest in the Put 30 contract area and a new 40% working interest in the Put nine contract, subject to approval from Agencia Nacional de Hidrocarburos (ANH), Colombia’s oil and gas regulatory body.

The approval from the ANH includes the appointment of Amerisur as operator of Put 30, whereas Put nine is operated by Meta Petroleum, which has a working interest of 60%.

Chief executive John Wardle, said the cost of the acquisitions “was non-material”.

“Put nine is a key block which is located within the OBA cluster, adjoining Platanillo and Put 12 and is very prospective in our view. On the basis of existing seismic data there are several interesting structures which are shared between Put 12 and Put nine. Also, there are independent structures which lie within Put nine."

He said the company is currently performing work to link the geological models of Put 12 and Put nine, after which an independent resources report will be carried out covering both assets.

Put 30, a heavy oil play, will be, upon approval, 100% owned by Amerisur along with adjoining block Andaquies.

Shares on Amerisur Resources were up 0.05% to 26.01p at 0831 GMT.