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Chevening Scholarship Scheme

Amerisur has co-funded the Chevening scheme which provides approximately 20 annual Chevening scholarships to Colombian students, and additionally, the Company has begun to co-fund four scholarships available to Paraguayan applicants.

Through the scholarship, Amerisur supports talented Colombian and Paraguayan professionals helping them gain international experience through post graduate study at a UK university for one year. The professionals subsequently return to Colombia and Paraguay to apply their newly gained knowledge and support their countries' economic development.

In Colombia scholarships have been awarded in the following subjects: politics and government, economics, commerce, natural resources, climate change, sustainability, infrastructure and transport, defence and security. In Paraguay, scholarships have been awarded in the following subjects: public policy management, petroleum and gas, geosciences, engineering, economics, finance or international relations.


About Chevening

Chevening is the UK government's international awards scheme aimed at developing global leaders since 1983. Funded by the Foreign and Commonwealth Office (FCO) and partner organisations, Chevening offers two types of award - Chevening Scholarships and Chevening Fellowships - the recipients of which are personally selected by British Embassies and High Commissions throughout the world.


Chevening Scholar Testimonials

"I sincerely want to show my gratitude for the contribution made by Amerisur in sponsoring my studies in the UK. In my case, I am studying at the University of Manchester and I must say the programme I am doing has fulfilled my expectations. Former Cheveners are not wrong when they say this is a life changing experience. This Chevening scholarship has been such a blessing to me. I really hope to put into practice the knowledge and skills acquired at the UK, becoming a positive actor of change to contribute to my country's development".
- Jose Ricardo Villar Uribe, Chevening Scholar 2015-2016

"I had the honour of being co-sponsored by Amerisur. As such, I would like to take this opportunity to say a huge THANK YOU for all the support and help I have received from you during this academic year."
"It has been a wonderful and unforgettable experience."
"Thank you once again for everything Amerisur has done, not only for me but for the other scholars."
- Nicolás Alberto Mejía Riaño, Chevening Scholar 2015-2016

"This experience has been life-changing."
- Jose Ricardo Puyana, Chevening Scholar 2015-2016

"I am deeply grateful to Amerisur and Chevening for this amazing opportunity. This year has been a milestone in my life, there are so many memories, experiences and lessons. Now I am even more eager to help make Colombia the great country we know it can be. These are really exciting times in my home country, with an upcoming peace process, there is an opportunity for Colombia to shift its history and build a new society, and therefore, there are plenty of opportunities to grow in every sector."
- Emanuel Llanos, Chevening Scholar 2015-2016

"My gratitude with Amerisur Resources is immense as you helped me to fulfil this important step in my career, the base for an exciting future."
- Veronica Uribe, Chevening Scholar 2015-2016

 

Environmental Policy Statement

Amerisur works to reduce environmental impacts and protect biodiversity and ecosystems. It is committed to limiting its environmental impact in the areas where the Company operates and has a formal environmental policy and framework in place to protect the environment. The Company aims to comply with all relevant regulatory and legislative requirements and industry best practise and has been awarded the following certificates: OHSAS 18001, Occupational Health and Safety Management Systems; ISO 14001:2004 Environmental Management Standard; and ISO 9001:2008 Quality Management Standard.

To help manage its environmental risks the ISO 14001:2004 Environmental Management Standard has been in place since October 2012 and the Company communicates its environmental policy to all employees and agents. The Standard is valid until October 2018 and there is a yearly review in order to check compliance and processes are regularly reviewed by external parties.

 

Relationships with Communities

Amerisur is committed to building and maintaining good relationships with the communities within the localities of its operations. The Company focuses on responsible behaviour and risk management. Areas of activity are in:
  • Respect for communities' rights, culture and heritage
  • Engagement in open dialogue
  • Responding and listening to grievances, and
  • Supporting community development.

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Operations in Paraguay

Posted in Operations

The Company holds 100% in four blocks (one E&P and three Prospecting permits) in Paraguay, extending over 5.8mm hectares. The blocks offer significant potential with two of the basins shared with adjoining petroleum producing regions.

Amerisur has more than 4,663km of 2D seismic including approximately 1,800km of 1971 vintage Texaco data, 817km of more recent Phillips Petroleum data and 2,046km of data acquired by Shell between 1979 and 1981.

 


San Pedro Permit

This Exploration and Production (E&P) permit covers approximately 800,000 hectares in the north west of the Paraná basin. Approximately 1,000km of 2D seismic data has been reprocessed in Bogotá, and has been re-interpreted both in house in Bogotá and by a geophysical consultancy in Perth, Australia.


Latest Developments

• Jaguerete-1 was drilled in April 2016 and initial analysis indicates the presence of oil saturations within low porosity sandstones of the Lima and Santa Elena formations.

• A technical programme has commenced to study the results of the well in order to determine whether the poor reservoir quality observed is likely to be a regional characteristic or more locally associated with the basement uplift observed in drilling. Additionally, cuttings samples will be analysed both for physical characteristics and an assessment of the oil quality present.

 


Western Blocks (Las Palmas/Coronillo and Espartillar)

The Company holds 3 prospective licenses covering an area of approximately 5.2MM hectares in the Pirity/Pilar basin complex.

Piriti/Pilar Complex basin appears to be extension of the Lomas de Olmedo sub-basin of Argentina.

Analysis of existing data, in concert with the gravity information acquired by the Company, indicates that these blocks are located along the southern edge of the subsided basin, in the area where tilted fault blocks may be expected to exist, with the potential for significant oil accumulations.

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Operations in Colombia

Posted in Operations

Amerisur is focusing on developing its assets in Colombia, which has a well established petroleum industry with highly productive basins, yet remains relatively unexplored. The Company believes there remains significant opportunity to explore lower risk opportunities aiming to deliver significant medium term cash flows through focussed exploration in Colombia.

Amerisur has a cluster of assets around the OBA pipeline including Platanillo, Put-8 and Put-12, able to utilise the lower cost OBA export route. In addition, Amerisur has interests in Coati, Put-30, Andaquies, CPO-5 and Tachacho. It will continue to review new portfolio additions in Colombia that offer near to mid-term production opportunities that provide value for shareholders.

 


Platanillo

The Company is Operator and has a 100% working interest in the block. The 14,341 hectare block is located in the Putumayo Basin, in the south of Colombia. The Company has continued to make excellent progress with the drilling and production programme in Platanillo, having successfully drilled 15 wells, three sidetracks and one infill well.

The OBA interconnector pipeline connects production from the Platanillo field under the Putumayo River into the Victor Hugo Ruales pipeline infrastructure in Ecuador. The pipeline is now operational and has increased production capacity constraints.


Latest Developments

• OBA pipeline is complete and operational.

• Highest daily throughput has been 4,110 barrels of oil on 9 December 2016.

• The first infill well, Platanillo 8, has been drilled and encountered oil columns in the Upper U, Lower U and T sands, with excellent reservoir quality.

• Drilling has commenced on the second infill well, Platanillo 24.

 


Putumayo-8

Acquired in January 2016, the Put-8 Block is adjacent to the west of the Platanillo field and is in Phase 1 of its exploration period with a 2% X Factor and low work commitments of one exploration well and 208km2 of 3D seismic.Amerisur has a 50% (non-operated) working interest and Vetra holds the remaining 50% and is Operator.


Latest Developments

• Inversion processing of 2D and 3D seismic data in progress.

• The Company has begun the studies required to apply for an exploration environmental license in the central to northern part of the Platanillo block (which includes Put-8). It is expected to complete these studies in Q1 2017.

 


Coati Block

Acquired in January 2016 as part of the Platino transaction, the Coati Block, 100% owned and operated by Amerisur, is located in the South West of the Putumayo basin, adjacent to the Loro and Hormiga oil fields and is in Phase 3 of its exploration period with no X Factor and low work commitments.

Canacol Energy Colombia SA ("Canacol"), a subsidiary of Canacol Energy Ltd. of Canada has a 40% working interest in the exploration area of the Coati contract. The consideration for the farm in is a total carry of US$10.75 million, of which US$6.95 million is outstanding in favour of Platino Energy ("Platino").

Seven prospects and leads have been identified on 2D seismic with unrisked resources of 79 MMBO.


Latest Developments

• The Company is currently performing the Consulta Previa required by law with local indigenous communities in order to initiate the seismic and long term test ("LTT") programmes in this block.

• The Company expects to complete this process in Q1 2017.

• The LTT is expected to begin in Q2 2017.

 


Putumayo-12

Put-12 was acquired following a successful bid in November 2012, in a joint venture with Pluspetrol. It is a 55,000 hectare block which is adjacent to Platanillo and shares its geology. The Company is Operator with a 60% working interest. The bid included a commitment to a seismic acquisition programme and the drilling of one exploration well during the first three year exploration phase.


Latest Developments

• 2D seismic to commence on the resolution of social issues, which is anticipated during Q1 2017. This will focus on the Western prospects in the block, as on success these could be tied into the Platanillo infrastructure.

• The Company has begun the studies required to apply for an exploration environmental license in the central to northern part of the Platanillo block (which includes Put-12). It is expected to complete these studies in Q1 2017.

 


Putumayo-30

Put-30 covers approximately 38,514 hectares and lies within the Putumayo basin, approximately 55km to the north of both the Company's 100% owned Platanillo field and 60% owned Put-12 Contract. The Company has formed a joint venture with Talisman Colombia, with each party owning 50% respectively.

The block has cretaceous potential and is a recognized Tertiary play concept. The joint venture will explore to evaluate the potential of producible heavy oil deposits in the Neme formation.


Latest Developments

• The social consultation process is in progress and is expected to be completed in H1 2017.

 


Andaquies Block

The Andaquies Block, 100% owned and operated by Amerisur, was also part of the Platino acquisition and is located in the north east of the Putumayo Basin with no X Factor and low work commitments of one exploration well by May 2017. The block has multiple proven reservoir targets, six mapped leads targeting both proven and novel plays and unrisked resources of 66MMBO prospects both proven and unproven and sits to the north east of a proven structural play within the Putumayo Basin.


Latest Developments

• The environmental management plan ("PMA") is currently under preparation.

 


CPO-5

CPO-5 was acquired in June 2015 through the Company's acquisition of Petro Dorado South America SA (PDSA) a subsidiary of Petro Dorado Energy Ltd (PDEL). Amerisur has a 30% (non-operated) working interest in the contract, ONGC Videsh Ltd holds a 70% working interest and is the Operator.

CPO-5 is an Exploration and Production Contract, covering 198,000Ha and located to the south of block Llanos 34 and to the east of the Corcel fields. The block includes the evaluation area related to the Loto-1 oil discovery. That well was drilled in 2013 and tested oil in the Mirador formation during a short test however lack of zonal isolation prevented performance of a long term test. Core and electric log data indicate 61ft of net pay within the Mirador. A further two wells within the north western sector of the block, Kamal and Metica also tested oil.


Latest Developments

• Amerisur and ONGC Videsh have defined the location of two exploratory wells within the North West 3D seismic data. The Company expects to drill the first of the two wells in April 2017.

• The testing data from the Loto-1 Mirador L4 zone is undergoing analysis.

 


Tacacho

Tacacho was acquired in June 2015 through the Company’s acquisition of Petro Dorado South America SA (PDSA) a subsidiary of Petro Dorado Energy Ltd (PDEL). Amerisur has a 49.5% (non-operated) working interest in the Tacacho contract, Pacific Stratus Energy holds 50.5% and is the Operator.

Tacacho is an Exploration and Production contract, covering 238,000Ha in the eastern Caguan-Putumayo basin. It is a heavy oil exploration play, supported by regional studies which indicate a continuation of the heavy oil trend extending from the eastern llanos basin through to the ITT field complex in the eastern Oriente basin of Ecuador. Additionally, the well Solita-1, drilled nearby by Texaco in 1948 indicated the presence of hydrocarbons in the Pepino formation. Large structures have been defined on existing 2D seismic, with closures at both the base and top of the Pepino formation. The contract is currently in Phase 1, where the exploration commitment is 480km of 2D seismic. The phase is currently suspended while social consultations and security planning is performed.

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