Amerisur Resources, the oil and gas producer and explorer focused on South America, said tests on a Colombian well had been interrupted by equipment failure.
The problems have come at the Platanillo-4 well n the Platanillo Field, Colombia, the second of a planned eight well drilling campaign.
"A 30ft section of the logged 75ft gross oil column was perforated in the U formation in order to perform flow and pressure tests," the firm said.
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
"A number of tool failures prevented the test from continuing and the company has had to source alternative equipment and reconfigure the well."
The firm now expects to perform the tests over the next seven days and results will be announced once they have been analysed.
Amerisur's shares were off 1.3% following the announcement.
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.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
UK dividends rose in final quarter of 2025, but share buybacks ate into investor payoutsLast year saw dividend growth continue to fall below pre-pandemic averages, against a backdrop of increasing share buybacks.
-
Lifetime ISA reform: Retirement option could be scrapped in overhaulA consultation on a product replacing the Lifetime ISA is set to be launched this year, and the option to use it to save for retirement is expected to be axed in the shake-up
