Amerisur oil find goes commercial
Amerisur Resources, an oil and gas producer and explorer focused on South America, hit a new high on news that the oil found at its Platinillo-5 well has been placed in commercial production.
Amerisur Resources, an oil and gas producer and explorer focused on South America, hit a new high on news that the oil found at its Platinillo-5 well has been placed in commercial production.
It is envisaged to produce at a controlled rate of approximately 1,500 barrels of oil per day (BOPD) initially, taking the company's total controlled rate production up to approximately 3,500 BOPD.
Moreover, the company has stated that it is "confident of achieving a year end production rate of 5,000 BOPD."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It is well on the way to meeting market expectations and house broker RBC Capital Markets has a price target of 60p.
CM
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Half of UK homeowners will need to tap housing wealth to pay for retirement
Unlocking property wealth could inject £21 billion each year into UK economy by 2040, according to new research
-
When will M&S take online orders again?
Shoppers have not been able to place orders on the M&S website for more than two weeks, following a cyberattack. Meanwhile, the retailer’s share price has plummeted by 15%. When will things get back to normal?