Last time Amerisur Resources (AMER) provided a reserves update, the news wasn't so pretty. This week, the South American driller allayed investors' nerves - the results of its tests on the T sands for the Platanillo-20 field, as well as improved recovery rates, put proven and probable (2P) reserves at 23.7m barrels, significantly ahead of Peel Hunt's forecasts of 19.5m barrels. Excluding the 1.62m barrels of oil produced last year, the South America-based explorer increased its 1P proven gross field reserves during 2015.
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Prior to this update, broker Investec forecast a pre-tax loss of $15.5m this year, giving a 1.3¢ loss per share, against losses of $13.2m and 1.3¢ in 2015.
