Gulf Oil and Gas accountACCOUNT

Amerisur Resources Exercises Right of First Refusal to Acquire Put-8 Interest

Source: www.gulfoilandgas.com 3/20/2019, Location: South America

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, provides an update on corporate activities in Colombia.

Following notification by Vetra Exploracion y Produccion Colombia SAS of the proposed sale of its 50% working interest in block Put-8, Amerisur has exercised its right of first refusal to acquire that working interest, as per the terms set forth in the existing Joint Operating Agreement between Amerisur and Vetra.

Following approval by the Colombian National Hydrocarbons Agency (ANH) the Company will hold 100% working interest and operatorship in Put-8.

The consideration for the acquisition is USD $19.1 million which will be met from internal resources.

John Wardle, CEO of Amerisur Resources said:

"Put-8, strategically located between oil fields has been a prime part of our Putumayo portfolio since we acquired a 50% working interest by way of the Platino acquisition. The opportunity to increase our working interest and acquire operatorship was very attractive to us, consolidating even further our position around the OBA pipeline and bringing more operational flexibility. In the interim, while awaiting approval by ANH, preparations for the exciting drilling programme in the block will continue."

Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 32 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Acquisitions and Divestitures News in Colombia >>

Norway >>  8/17/2019 - Pandion Energy AS has entered into an agreement with ConocoPhillips Skandinavia AS (ConocoPhillips) to acquire a 20 percent interest in PL 891, contai...
Indonesia >>  7/18/2019 - Coro Energy, the Southeast Asian focused upstream oil and gas company, has renegotiated the terms of the proposed acquisition by the Company of a 42.5...

Indonesia >>  7/17/2019 - Mubadala Petroleum announces that it has signed an agreement with Premier Oil to farmout a 20 percent participating interest in each of the Andaman I...
Colombia >>  7/16/2019 - Frontera Energy Corporation (FEC) (Frontera) announces the award of the VIM-22 block in addition to LLA-99 block which was previously announced on Jun...

Brazil >>  7/15/2019 - Karoon Energy Ltd (KAR) make the following statement in relation to the news published by Upstream on the 12 July 2019. Karoon confirms it has been n...
China >>  7/15/2019 - MacGregor, part of Cargotec, has received a clearance decision from the Chinese competition regulator, SAMR, for the companyís acquisition of the mari...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Colombia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 |

Oil & Gas Projects in Colombia >>

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.