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.)

b>



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.

Something going on here-very strong buying.

plenty of volume, but really not that much excitement with sp, so could be just an institution moving it from one hand to the other

Do I detect the faint aroma of humble pie. ?

not really, or even not at all ..... as i posted a little earlier, pretty good volume, but nothing that exciting happened to sp ..... +14% of bugger all was 0.33p, so no yacht for you!

Aha - but I have 10m of the buggers - so 14% of 10m - is still bugger all !!!!!

what do your doctor and psychiatrist have to say about your dire affliction?

what are the costs at Alea to get the stuff out the of the ground?

Does anybody know the lifting costs in South America? i'm trying to get a feel of how profitable AMER could.

Oil Break-Even Prices
Nation US$/Barrel
Bahrain 40
Kuwait 17
Saudi Arabia 30
U.A.E. 25
Oman 40
Qatar 30
Canada's oil sands 33


Based on the formula, profitability of these countries' oil operations are in order:
Profitability at $100/barrel oil
Nation Break-Even Price Profitability
Kuwait 17 488%
U.A.E. 25 300%
Saudi Arabia 30 233%
Qatar 30 233%
Canada's oil sands 33 203%
Bahrain 40 150%
Oman 40 150%

Would be happy just to have some news re how much oil the company thinks it may have.

Well now you have had it B down!!

Not so good is it?

with your handle, perhaps you could offer to lend some money the (AMER) board as it is questionable whether anyone else will

That's assuming the company needs any.

looks as though it needs all the help it can get ..... which reminds me, should look at GOO similarly

Cynic, the company has circa 10mil, so cash is not a prob
short/medium term. Of course IF they decide to drill Plat3
then that will cost apx $6M. We do have the much rumoured JVs at
FIX to come that could well add Circa $15Mill per JV (target).
There are rumuored to be 3 potential targets on the block!!

M

Wakey wakey - good news at last


RNS Number : 5829O
Amerisur Resources PLC
10 March 2009



10th March 2009




Amerisur Resources Plc ("the Company")




Paraguay - Operational Update




Reinterpretation of existing seismic and well data reveals attractive opportunities
Prospective unrisked resources of 708 MM BOE and 248 MM BOE identified to date within sections of the extensive acreage held
New geochemical data being acquired
100% equity in two blocks, targeting farm out agreements


Amerisur Resources Plc, the oil and gas explorer and developer focused on South America, is pleased to give the following update on technical work performed in its Paraguayan properties and the reserves potential thereof.




In Paraguay Amerisur holds a substantial acreage position in two proven petroleum basins, one of which is among the most prolific in the continent. Amerisur has rights to a 100% interest in two concessions representing 1.6 million hectares (3.953 million acres) in Paraguay within the Chaco and Parana Basins, which are established hydrocarbon areas where oil and gas has been produced in Argentina, Bolivia and Brazil since the 1920s. This acreage is equivalent to approximately 70 standard North Sea blocks.




In order to advance the understanding of the prospectivity of the Paraguayan assets, we have undertaken a comprehensive geological and geophysical reinterpretation and we are very excited by the quality of the new leads identified. As such we have contracted an extensive surface geological and geochemical survey to further enhance that prospectivity and assist us in closing attractive farm out agreements.




We are also very encouraged with the renewed interest being shown by the international oil industry, including multinationals, in these exciting and under-explored oil basins.




The Company believes that the Republic of Paraguay represents an attractive opportunity for the following reasons:




HIS Energy, a US based energy consultancy, recently ranked Paraguay as the seventh best Oil and Gas fiscal regime in the world, while its neighbour Argentina ranks 38th and the United States 44th.
Overlooked for years due to the combination of a government that was largely closed to foreign investment amid a bygone era of cheap oil and gas, Paraguays potential oil and gas reserves have yet to be tapped. To date a mere 49 wells have been drilled by explorers in all of Paraguay, a country with a landmass roughly the size of California. It is remarkable that 24 wells (49%) have logged hydrocarbon shows.
Recent political and economic changes in the country, coupled with the establishment of gas imports to Southern Brazil from Bolivia, place Paraguay as a compelling area for exploration.


The Permits



Amerisur holds two oil and gas permits in the Paraguayan part of the Chaco and Parana Basins. Amerisur has more than 4,663 km of 2D seismic including approximately 1,800 km of 1971 vintage Texaco data, 817 km of more recent Phillips Petroleum data and 2,046 km of data acquired by Shell between 1979 and 1981. Much of this data has been reprocessed and reinterpreted to identify prospective leads within the permits. It is believed that these properties hold significant untapped resources of oil and gas that may be brought to commercial production.




San Pedro Block - Parana Basin




Technical studies have now been completed on existing seismic and well data. 2 wells were drilled by Pecten (Shell) in 1982, Asuncion 1 and 2, recording strong staining with light oil in Silurian and Devonian sandstones. 803 km of 2D seismic data were also acquired by Pecten between 1979 and 1981. The analysis of these data, which cover approximately 40% of the block, have indicated the presence of 4 leads and a further 10 potential structures. According to analyses made from the electric logs run in Asuncion 1, the 4 leads identified have potential unrisked recoverable reserves of 708 MMBO. The leads were developed after study of the Barra Bonita field in the Parana basin of Brazil, and appear to observe the same play concept. Well data indicates the presence of high quality reservoir rocks, and although oil stains were recorded in those reservoir intervals in Asuncion 1 and 2, these wells are, according to the new mapping performed by the Company, located outside of structural closure. The depth of the target formations in this block is approximately 8,000ft. A 180 km surface geochemical sampling programme has been designed and will be performed during March 2009 over the 4 leads by a Colombian specialist consulting company. This work will allow further refinement of the lead configurations and assist in the design of a supplementary seismic acquisition programme.




Curupayty Block - Curupayty Basin




The Curupayty Sub-Basin may contain potential reserves of 6.5 TCFE or 1.1 billion BOE. Interpretation of existing seismic data in the Amerisur block, which data covers approximately 25% of the block area has indicated the presence of 3 structural leads. Three wells exist in the block, which showed significant hydrocarbon shows, even though they were located outside of the structural closures identified by Amerisur mapping. The unrisked potential recoverable reserves estimated within the 3 leads totals 248 MMBOE.. 190 km of additional 2D seismic acquisition will be required to upgrade these leads to drillable prospects. The depth of the target formations in the block is approximately 4,500ft.




Across the Paraguayan border from Amerisurs permit is the Bolivian part of the Chaco Basin, which holds the second largest proven natural gas reserves in South America. The Bolivian and Argentinean areas of the Chaco Basin have been heavily explored and are known to produce over 2 BCF per day of gas and over 50,000 BO per day. A survey by Energy Consulting International, Inc., a licensed petroleum engineering firm, indicates the potential of 43 TCFE of oil and gas reserves in the Paraguayan extension of the Chaco Basin, if the Paraguayan Sub-Basins achieve the average richness for all Chaco Basin fields.



The Company intends to farm out an interest in these blocks in return for the acquisition of additional 2D seismic data and the drilling of an exploration well in each block. Initial discussions are underway with 2 industry parties who have expressed interest in the projects.




The Company is operator of the blocks and holds a 100 per cent. working interest through its subsidiary, Amerisur SA (Paraguay).




Giles Clarke, Chairman commented:




"I am very pleased by the results of our technical analysis in Paraguay. Our Paraguay blocks are very large, and it is encouraging that we have identified significant prospectivity in the relatively small areas covered by existing data. This gives us considerable hope that we can convert these leads into commercial discoveries, and indicates that the eventual potential of our Paraguayan acreage may be very large.




"I congratulate our compact management and technical team on their hard work in developing these prospects, which has been achieved at a time of high workload in Colombia. Our operational focus continues to be on Colombia, where we have drilled exploration wells, made discoveries, have established production from those discoveries and also progressed the Fenix exploration project, where farm out discussions are ongoing. In addition we continue to seek further attractive opportunities in Colombia, where the global situation has created a number of interesting strategic options. I look forward to updating shareholders as progress continues."




Ends




Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D.., the Company's Chief Executive. John Wardle has 24 years experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.




ENQUIRIES:




Billy Clegg/Caroline Stewart,

Financial Dynamics



Tel: +44 (0)207 831 3113




Jerry Keen/Andrew Raca,

Blue Oar Securities Plc
Tel: +44 (0)20 7448 4400






This information is provided by RNS
The company news service from the London Stock Exchange

END

Let's hope for a positive impact on the sp.

we have identified significant prospectivity in the relatively small areas covered by existing data. This gives us considerable hope that we can convert these leads into commercial discoveries, and indicates that the eventual potential of our Paraguayan acreage may be very large.


real strong and positive stuff, of which dreams are made

Hey cynic - dont knock it - it may well still be jam tomorrow - but the RNS was a marked change to previous RNS's. Agreed it might take a couple more years to deliver - but I for one was encouraged

for goodness sake, why can't you just bite the bullet and put your money elsewhere where it has at least a realistic chance of growing within your lifetime

Because I like the odd challenge I guess