Amerisur Resources Plc presented an update on Corporate and Operational activities in Colombia and Ecuador. The Company announced the acquisition of the outstanding working interest in the Mecaya contract in the Caguan-Putumayo basin, bringing the Company to 100% working interest holder and Operator from 15% interest (58% effective economic interest). The Mecaya block lies adjacent to Putumayo-9 covering approximately 74,128 acres and has a faulted zone with potential traps similar to those in the Platanillo field. The Mecaya-1 well, drilled in 1989 produced 682 bopd of 27 degree API oil with 0% water on test from the M2 reservoir. An early objective of the programme within the Mecaya block is to place Mecaya-1 on long term test. Amerisur has been relieved of its obligation to carry capital expenditure of approximately $8.6 million and in exchange the Company will make the following payments: Mecaya Oil and Gas Ltd. will cede a 55% working interest in exchange for: A cash payment of USD 400,000 over a three-year period. The payment of USD 1.2 million from 50% of Amerisur production in the Mecaya block, payable only when the block is in production. Once the production payment has been completed, a royalty payment equal to 4% of production revenue post Government royalties. Petex Offshore Inc. will cede a 30% working interest in exchange for: A cash payment on completion of USD 150,000. The payment of USD 600,000 from 10% of Amerisur production in the Mecaya block, payable only when the block is in production. A royalty payment equal to 2.2% of production revenue post Government royalties.