Shares in Amerisur were on the rise again this week after the Colombian oil and gas explorer raised £26.3m through placing 70m shares at 37.5p a share. Investor sentiment remains positive as the company has rapidly pushed up daily production from last year's exit point of 400 barrels.
Earlier this month, Amerisur announced it had placed its Platanillo-5 well on a commercial production footing, with an envisaged daily rate of approximately 1,500 barrels of oil. The strong results from Platanillo-5 provide confidence that Amerisur will achieve its year-end target rate of 5,000 barrels a day. The market's attention will now switch to the results from the next two wells in its drilling programme due in November and December, which will could be accompanied by a material upgrade to reserves.
