Amerisur provides positive drilling update

Amerisur Resources, an oil and gas producer and explorer focused on South America, rose following a positive drilling update.

Its Platinillo-5 well in Colombia, the third well of a planned eight well drilling campaign, has found oil in the U sands of the Villeta formation.

Two further zones within the Villeta may also contain potential pay and are under evaluation.

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John Wardle, Chief Executive, commented: "I'm very pleased with the well results to date and look forward to updating the shareholders on flow data very shortly."

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House broker RBC Capital Markets has Amerisur as a top pick, albeit in the speculative risk category.

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