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.
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
"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.
-
Lloyds axes foreign currency fees for Club Lloyds customersClub Lloyds customers will be able to withdraw their money abroad without incurring any extra fees
-
How to invest during stagflationTrump’s tariffs look poised to push the global economy into a period of stagflation. We look at how to ensure your investments can survive a global slowdown.
