Shares in Amerisur Resources (AMER) clicked into reverse earlier this year, after the Latin American driller revealed a 6 per cent downward revision to its proven reserves. That followed a sustained period of progress at the company's Platanillo site in Colombia.
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But investor sentiment has been restored - at least partially - by news that the company has signed an agreement with Ecuador's Petroamazonas EP for the development of its new South American pipeline. A minimum volume commitment of 5,000 barrels per day has been agreed between Petroamazonas and Amerisur. Construction work on the interconnector system, as well as a central processing station, will get under way shortly.