Amerisur Resources Plc announced that drilling at Indico-1 well on the CPO-5 block (AMER 30%) has reached target depth of 10,604 feet measured depth and has encountered the targeted Lower Sands (LS3) of the Une formation. The LS3 sand package is the same formation which holds the 120 feet oil column discovered at Mariposa, which lies some 6.5 kilometres to the North West of Indico-1. The Mariposa well has produced at a stable rate of approximately 3,200 barrels of oil per day in natural flow from 10 feet of perforations near the top of the 120 feet oil column for over a year, during which time it has produced over 1.2 million barrels of oil with no significant water cut, which remains at 0.05%. The well Indico-1 has now been logged with a Triple-Combo wireline logging suite from Schlumberger. Initial analysis by the Company indicates that a 283 feet gross, 209 feet net, oil column is present in the LS3 formation. The LS3 unit is a high quality sand with some shale intercalations, principally towards the base. The LS3 unit sits upon Palaeozoic basement. In the Company's initial analysis, no Oil-Water-Contact ("OWC") was detected in the wireline logs acquired to date, hence the base of the oil column encountered at the Palaeozoic level represents a Lowest-Known-Oil for the Indico structure. The next steps for the well operations include the acquisition of further wireline logging data, including pressures and samples across the reservoir. A 7-inch production liner will then be run and cemented followed by short term testing of the well. Further updates will be provided as operations develop and the volumetric models are refined based on logging and testing data. Once operations are complete at Indico-1, the rig will move to drill Sol-1, which is a further 6.5 kilometres south of Indico-1 and approximately 13 kilometres southeast of Mariposa-1. The Sol-1 well will also target the LS3 unit as encountered in Mariposa-1 and Indico-1.