News

January 06, 2009

Amerisur Resources Sharpens Colombia Focus As It Targets Maiden Production

The priorities of South America-focused Amerisur Resources are similar in many respects to many of its peers right now. Most importantly, these include generating some cash flow from oil and gas production from its projects in Colombia and Paraguay and perhaps others.

The London-listed company starts 2009 in a better position than many, however, in that it has some decent cash reserves behind it in the bank. This is important at a time when both banks and investors are feeling reluctant to part with their money.

At the end of the year, Amerisur released its interim results for the six months ended 30 September 2008, which showed a net cash position of £10.1 million. The report also showed that losses fell during the same period to nearly £250,000,...