Amerisur to extend oil pumping in Colombia

Amerisur Resources, the South America-focused oil explorer and producer, heads towards the Colombian festival of Navidad 12 per cent down on the year.

But the trimming in the share price of the Aim-quoted company leaves it in reasonable shape.

Amerisur is chaired by Giles Clarke, chairman of the England and Wales Cricket Board, who controls a 7 per cent stake in the oil junior.

Unlike some peers, it has (modest) production revenues to help fund further exploration. 

Wells near Colombia’s border with Ecuador helped to double interim profits to $2m on revenues of $6m.

Its priority is to extend pumping in a country largely abandoned by foreign operators during the protracted guerrilla insurgence.

But any upgrade in Amerisur’s stock could depend on prospecting in blocks recently acquired in Paraguay.