Amerisur to increase injection pressure at Platanillo-2, Alea-IR

Thursday, October 23, 2008

UK-based Amerisur Resources will increase injection pressure at the Alea-1R and Platanillo-2 wells on the Platanillo block in Colombia's Putumayo basin, the company said in a statement.

Both wells were tested in natural flow from the Lower U formation. The Alea-1R tested at 39b/d, and the Platanillo-2 well at 66b/d.

Hydraulic jet pumps were installed in both wells in September, and Alea-1R produced 166b/d at 500psi. Platanillo-2 output increased to 199b/d at 500psi, according to the statement.

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Amerisur now plans to increase pressure in coming weeks and will select a stable production rate on the basis of reservoir management and operational considerations.

The company expects Alea-1R to produce 370b/d at 1,500psi. Platanillo-2 output would increase to 540b/d at the same pressure, according to the company.

The oil produced during the tests is being sold to Colombian state oil company Ecopetrol and trucked 75km to the Mansoya terminal.

"These results, obtained through a careful and technically robust evaluation, give grounds for optimism regarding the intended strategy for the third well in the Platanillo field," Amerisur CEO Dr. John Wardle said in the statement.

"We foresee continued activity in the block through 2009," he continued, adding the company is looking at other opportunities to use its cash resources.

Amerisur has a 60% stake in the block and Ecopetrol holds the balance.