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23 December 2009 

 

Amerisur Resources Plc ("Amerisur" or the "Company")

 

Operations Update Colombia and Grant of Share Options

 

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide the following update on the Platanillo contract in Colombia. 

On Thursday 17th December the Ministry of Environment in Colombia (MAVDT) granted the Global Environmental License for the project named "Platanillo Hydrocarbons Exploitation Area". The award of this license will allow the Ministry of Mines and Energy to authorise the commencement of exploitation activities and thus give continuity to the production from the wells Alea-1R and Platanillo-2.

 Total current production is approximately 300 BOPD. 

The Board of Amerisur further announces that on 22 December 2009 the Renumeration Committee granted options to directors over 14,500,000 new ordinary shares of 0.1p each, representing 1.74 per cent of the current issued share capital, with an exercise price of 11.05p per share. The exercise price is calculated by reference to the closing price of the Company's shares for the five days prior to the date of grant. There was no consideration paid upon the grant of the options and there are no performance criteria attached to the exercise of the options. These options are exercisable at any time from 23/12/09 to 23/12/19.

The options have been granted as follows:

Director	Number of options	Percentage of issued share capital
John Wardle	8,000,000	0.96%
Giles Clarke	3,000,000	0.36%
Nick Harrison	3,000,000	0.36%
Douglas Ellenor	500,000	0.06%
Total	14,500,000	1.74%

The company also announces that Dr John Wardle has assigned the interest of all of his options in the Company to Tracarta Ltd where he has an interest

Following this grant of options the interests of the directors are set out below:

Director	Number of ordinary shares	Percentage of issued share capital	Number of options
John Wardle *	8,865,860	1.07%	26,500,000
Giles Clarke	10,527,448	1.27%	29,100,000
Nick Harrison	2,245,025	0.27%	17,210,000
Douglas Ellenor	-		1,950,000

* Dr John Wardle's interest in his share options are held through his interest in Tracarta Ltd

 

Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 24 years experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

ENQUIRIES:

Billy Clegg/Caroline Stewart,  Financial Dynamics	Tel: +44 (0)207 831 3113
Jerry Keen/Lindsay Mair, Astaire Securities Plc	Tel: +44 (0)207 448 4400

Notes to editors

The Platanillo Contract is an Exploration and Production Contract held with the Agencia Nacional de Hidrocarburos. The block is located in the Putumayo Basin of Colombia and the commercial area covers 10,341 hectares. The Company holds 100% of the contract and is the Operator.

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