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Amerisur's Platanillo 2P reserves up 114%

By BFN News | 09:01 AM | Wednesday 28 March, 2012


South America-focused oil and gas producer Amerisur Resources has revealed a 114% rise in proven and probable reserves at the Platanillo field in Colombia. It says an independent reserves report by Petrotech Engineering certified 2P reserves at 7.7 million barrels of oil. These 2P reserves have been evaluated by Petrotech as representing a net present value of US$401m undiscounted and a 10% discounted NPV of $204m. Petrotech also calculated 3P (proven, probable and possible) reserves at 10.6 MMBO. In addition, the report certifies a further 3 (best case) to 5.2 (high case) MMBO from the Lower U and N formations as unrisked prospective resources. At 9:01am: (LON:AMER) share price was +0.75p at 25.75p Story provided by StockMarketWire.com