On 23 November 2018 Amerisur Resources reported a farmout agreement with Occidental Andina for four blocks in the Putumayo Basin. The USD 93.25 million deal includes 50% interest in each of the PUT-9, Terecay, Tacacho, and Mecaya blocks where Occidental will fully fund five exploration wells and pay 85% of the costs for a 2D seismic acquisition, estimated at USD 38 million and USD 55.25 million, respectively. Amerisur will retain operatorship and the remaining 50% interest in each block. This company deal accelerates Amerisurâs work programs in the Terecay and Tacacho blocks where the social consultations (Consulta Previa) and licensing procedures have already been completed for the 878 km 2D seismic survey to commence in Q1 2019. Consulta Previa for drilling on the Tacacho Block is anticipated to commence in Q1 2019 with drilling plans slated within a year.
Amerisur Resources reported a farmout (for 50% share) agreement with Occidental for 4 blocks Putumayo-9, Terecay, Tacacho and Mecaya blocks by funding a US$93.2 MM exploration and appraisal programme.