Amerisur suffers technical problems

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.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

"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.