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Oil and gas producer Amerisur Resources said drilling at the Sol-1 well revealed a modest discovery of oil. The well was initially tested under natural flow then closed and completed with an electrical submersible pump producing at a rate of 253 barrels of oil a day of 38.9 API oil with a water cut of 5%.
Following initial analysis, 26.5ft net oil pay in the top of the LS3 sands and 10.5ft net oil pay in the LS1 sands of the Une formation were identified, the company said.
As anticipated the test results reflect a 'modest' discovery, the company said.
''We now look forward to drilling the Indico-2 appraisal well that has the potential to transform Indico reserves as it tests the extent of the oil-water-contact,' it added.
At 9:12am: (LON:AMER) Amerisur Resources PLC share price was +0.48p at 18.04p