Frontera Energy in November 2017 announced, that the Agencia Nacional de Hidrocarburos (ANH), on 22 September 2017, had approved the transfer of Frontera's interests in a number of Caguan-Putumayo Basin assets, to Amerisur Resources. The transfer is subject to execution of a formal amendment. Amerisur previously announced in March 2017 that it is acquiring working interest from Frontera (then Pacific E&P) in the following blocks:->60% in PUT-9->58% in Mecaya->100% in Terecay->50.5% in TacachoThe total consideration for these transactions was US$4.85MM. Also, a 2% Overriding Royalty Interest (ORRI) will be payable to Pacific E&P in respect to Amerisur net production from the Terecay Block and a 1.2% ORRI on net production from the PUT-9 Block. The Chief Executive Officer of Amerisur, John Wardle, said, "I am very pleased to announce this important acquisition which positions Amerisur for significant growth in the Caguan-Putumayo basin. The working interests we have acquired are strategically located close to our OBA transfer system, thus potentially securing rapid and basin leading margin monetisation of new reserves in these blocks, and expose the Company to the full suite of exploration opportunity in the basin."<P />
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