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.

Go to ADVFN to see a report of the presentation-very good stuff and some hefty buying this morning on the back of the presentation.

Looks positive.

sivad

dont you mean hefty sells?,i cant see a single buy.

Most of the sells are in fact buys.

Surprisingly quiet here today considering the sp rise.
2517

Yes, it is George. I wondered if anyone had picked up info from the presentation last week. They was a helpful poster on the other board. Sounded encouraging. I understand something is being put up on the website.

Oh, and it's the 24th tomorrow!

I believe LR2 first raised that date, I have no idea of it's significance.
2517

2517, yes I posted a date of today in response to a post from Cynic. I don't want to say why I posted that date. Sorry. Anyway, I had bought AMER at 2.28p the day before my original post (and subsequently topped up at 1.64p and 1.70p) and fully expected to be showing a reasonable profit by now. It looks as though that, whilst I will be showing a profit, it may not be quite as much as I had anticipated by tomorrow. I remain convinced of the likelihood of very good profits here at AMER in the future but for now the best I can say of my wager with Cynic is that the result is likely to be a no score draw. Still the game has a tiny bit longer to run and I might just sneak a late winner. Regards, LR2.

thank goodness you don't hold GOO, or at least i hope that is the case

No I don't hold GOO. I did have a look at them but passed.

I hold only AMER and PELE for South American assets.

wouldn't want either of those!

Each to his own.

Thanks for the reply LR2, I also hold PELE did hold GOO a couple of times, but sold yonks ago @ 8.18p thank goodness.
2517

Last week's presentation now on the AMER website.
Worth a look: http://www.amerisurresources.com/Amerisur_Resources_plc_Update_Presentation_March_2009.pdf

Things are certainly looking up with yesterdays gains being added to.

Did anything happen yesterday?

Sharesure,

I'd be grateful for your current thinking on this please.

(Cynic, don't bother, we all know what yours is.)

lol! ..... at least AMER is first class shit, which is a lot better than can be said of GOO!

From the Irish Times.
http://www.irishtimes.com/newspaper/finance/2009/0327/1224243542467.html

RUMOURS CIRCULATED this week that John Teeling was preparing to do a deal with British oil and gas explorer Amerisur Resources for his AIM-listed Pan Andean oil production company.

Amerisurs chairman, Giles Clarke, was in Dublin for a series of meetings and met with Teeling and his associates this week.

Clarke is head of the England and Wales Cricket Board and has taken serious flak of late for sponsorship deals he agreed with financier Alan Stanford, who is accused of fraud in the US, in relation to Englands cricket team.

Were told his meeting with Teeling was to discuss a joint venture in Colombia, where both parties have prospects, rather than any MA activity. According to sources, nothing concrete was agreed.

Good volumes this morning ahead of Paraguay developments.

sivad - are you expecting news this month too?

I am