Amerisur Resources is exploring for oil and gas in South America, currently in Colombia and later it plans to exploit its licences in Paraguay. It has a new Board of Directors and following a recent Placing at 6p (250m shares) sufficient cash to see through its current drilling plans and carry out some further corporate asset improvement opportunities.

Valuation of Amerisur Resources : 'Rule of Thumb' based on c.800m shares and using 10% DCF on oil at $70/barrel is 0.75p on the sp for every 1m barrels (CHP's share) that is proved in the ground.

Amerisur (formerly Chaco Resources) now has two exploration blocks in Colombia which it is currently evaluating and preparing to drill, one of these in the last quarter of 2007. It has also applied for further blocks in Colombia which are also believed to offer near term production. It also has three substantial areas in Paraguay and is awaiting news on a fourth. The next six months (May-November 2008) should see a steady news flow as it establishes the companys transformation from being an exploration company to becoming a significant oil production company. Set out below are some of the milestones which should produce announcements and have a positive effect on the share price. Any potential reserves are quoted in recoverable oil assets.



Platinillo, Colombia :

100% interest in a field currently assessed at holding 38.1m barrels of light sweet crude oil. Previously this a well flowed at 533 b/d before it was capped.Modern extraction methods may achieve up to double this output/well. Drilling completed for assessment and details of reserve figures and resumption of production daily figures awaited at Dec.2009. (Some guessestimates suggest the field might contain as much as 70m-100m barrels.)

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Tigra/Fenix block

100%% Further 3D seismic is completed; previous drilling has resulted in 30,000 barrels of oil from this block. Other blocks nearby in the Magdalena basin have also produced well. Drilled 11/2009; optimistic RNS (17 leads to follow)but reserve figures awaited

RNS :Expect further news on this block imminently and maybe a JV or other arrangement to speed up the timescale to production



Additional blocks to be announced

New local management team, in particular the CEO, is reputed to have some excellent contacts which will bring some high quality blocks to Amerisur in the coming months.

Curupayty Block, Paraguay :

1.39m hectares in north, close to Bolivia. Two wells previously drilled and both showed oil.

RNS : Expect JV with larger producer.



San Pedro Block, Paraguay :

1m hectares in south-east. Previous drilling showed oil.

RNS : Expect JV with larger producer.



Parana Basin, Paraguay :

Canindeyu block covering 1,789,000 hectares. Bordering Brazil. Oil field on Brazilian side already drilled. Chaco also expect to find oil and, at a deeper level, considerable quantities of gas. Chaco has obtained valuable historic seismic for re-evaluation.

RNS : Presidential Decree received 2/11/06.. Petrobras has announced its intention to increase substantially its effort to exploit Paraguay's hydrocarbons and has announced a farm-in on CDS's adjacent block. Possibility that they or another major will do likewise with Amerisur



Corporate Activity : The new Chairman is believed to have been brought on board to prove some or all of the existing Colombian assets and get these oil producing, arrange a JV on the Paraguayan assets before negotiating a sale of the company as consolidation of explorers in the region continues. An exit sp north of 1.00 over the next 12 months might be a reasonable target provided the drilling programme lives up to expectations, the price of oil remains at/above current levels and an approach is made for the company.

all this good news is guaranteed of course and not just wishful thinking

Time will tell.

No one wanted to buy these @2.09 yesterday,and now paying 2.50!

FSA Fines Two Private Investors
MoneyAM


The Financial Services Authority has fined Stewart McKegg and Brian Valentine Taylor for market abuse.

Mr McKegg was fined 14,411.25 and Mr Taylor was fined 4,642.50.

In both cases this was the disgorgement of profits made on transactions where they had inside information. If it were not for their financial circumstances both would have been fined an additional 20,000.

Mr McKegg and Mr Taylor were private investors in Amerisur Resources (Amerisur, then known as Chaco Resources ). They were individually contacted by Amerisurs broker on 23 May 2007 to inform them of a placing of Amerisur shares to be announced the following day.

This was at a substantial discount to the market price. During the telephone calls they were informed that this was inside information and confidential.

Both committed market abuse by selling some or all of their existing shareholding prior to the public announcement of the placement.

They both then rebuilt their position in Amerisur stock by subscribing for discounted shares in the placing.

Tracey McDermott, head of wholesale in the FSAs enforcement division, said:Mr Taylor and Mr McKegg were given privileged access to information about the placing because they already held shares in the company.

"They took advantage of that information by selling existing shares, despite knowing that they must not do so. They made a profit from other, unwitting, shareholders who did not have that information.

Retail investors who are given inside information must observe, like any other market participant, the responsibilities this information brings.

1.4 million buy,and the 2.12 are also buys,interims due soon,i hope we have good news soon.

We've certainly had a long wait.

blackdown,indeed we have,i topped up this am @2.12.

A very detailed update in todays RNS,
10MILL in cash,and drilling in early 2009.
Jan update on potential new oil flow.

Maybe the directors would like to buy some more shares and show us the way? Pity Blue Oar cannot even get the % of Platinillo concistently right in the same RNS - perhaps it is time Amerisur dumped those hapless advisors; I am not impressed with them and I doubt that I am the only one on that front.

Happy new year to you sharesure,
Someone bought 1.4 million last week.

perhaps to close out a profit on a short position

And perhaps NOT.happy new year to you too CYNIC.

i love you too .... shame you don't seem to like being told the way it is or might be

might be YES,but you too sure of yourself sometimes cynic,and you know i love you!

i do indeed, but have never been one to pussyfoot around

I never said you were.All the best for 00000000000000000000000009

scary year ahead, but from a biz point of view, i think there will be lots of opportunities provided one's company is intrinsically strong and credit control is kept tight to minimise bad debts

Capetown, & Cynic, Happy New Year. I hope that we can profitably sell off this stock in the coming 12 months. For once Cynic I agree with you - for the nimble there are going to be lots of opportunities. Good luck with finding those that are going to perform first.

Despite the cynicism, there is plenty of evidence that AMER is a solid medium term hold. The problem here has been - for a while - that too many holders expect instant 'results'.

It seems that AMER is intrinsically strong and well managed. I would wager that holders can't lose: management delivers significant returns as reflected in an increased sp; or, company is taken over.

is that so!? ..... well take a good look at the chart below since the company came to market and take your head out of the sand