Amerisur Resources Plc reported production results for the year 2014. For the year, the company reported average production of 6,242 barrels of oil per day, up 32% compared to 2013 average production of 4,730 bopd.

The company revised production and production guidance for the year 2015. The company has reviewed in detail its capital expenditure for 2015 in the context of the lower oil price environment and has revised its guidance from $95 million to $45 million, which is fully funded from operating cash flow and cash resources. Given the prevailing oil price and a conservative oil price assumption for 2015, and whilst the company waits for the commissioning, construction and operation of the Ecuador interconnector, the Board has decided to optimise production from the company's low lifting and transportation cost platforms in the Platanillo field. 4,500 bopd to be produced in the interim from Pads 5 and 9, which can be lifted at a cost of approximately $12 per barrel and transported and commercialised through Orito and the OTA system at approximately $12 per barrel. Production from more expensive pads expected to be temporarily suspended and transportation to Rio Loro at a cost of $23 per barrel to be reduced to a nominal daily volume, so preserving this delivery option. Production is expected to be increased to a 2015 exit rate of 8,200 bopd once the pipeline to Ecuador is operational and delivering transportation costs of under $5 per barrel. This is expected by the start of second half of 2015.