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.

Annie

Any such rise is of course welcome, even for long termers, although still favours the bottom feeders and spread betters at this stage.

Surely, what is needed is an endorsement, in the form of an RNS, so that we can get more solid confirmation that this latest spike of encouragement isn't yet another pump and dump exercise but built on solid, tangible and meaningful progress, that is for once fully and effectively communicated to the market, specifically long starved shareholders.

I am sure you can agree with me, however hard it might be against all your principles, that my last paragraph is what has been missing for nigh on three years.

AIMHO

Beau

Beau: No problem whatsoever in agreeing with what is quite obviously a common sense statement. Regards.

Hmmm

Higher volume, upward sp movement, still all speculation until rubber stamped by an official statement justifying the renewed level of interest.

I really really do hope this is not same old.

With the return of all the old pump and dumpers, serial rampers, on the dark side, who always seem to buy or top up or average down, but never advise of selling, I'm beginning to get more suspicious it is same old, particularly with the heightened hype that is permeating on the thread.

Happy to proven wrong, naturally.

Beau

Looking through past contract notes I see it was Sept 2006 I sold some of these (Chaco) @ the heady price of 14.5p, be nice to return there and sell my current holding. I suspect it could be a long wait.
2517

Much more of this rise and I will even start thinking about getting my money back.

Another few months should do it I guess. A long wait just to break even!

DITTO!!!!!

Imagine a huge find!

Cape: You can't imagine how hard I am trying.

Dont try,just let it happen,i just have a gut feeling this time its our turn,
GKP @pennies,and now look!,i am not suggesting for a moment this is the next GKP,but you never know.
annie38,good luck,et all.

Let's just hope this isn't the usual annual sp rise that then comes crashing back down to 3p again in no time at all once nothing further is announced, like we've got accustomed to year after year....

annie,just let this happen.

annie38---if it's any consolation my wife says I'm trying as well ha!ha! SP going in the right direction but a bit further to go yet before I'm breakeven.
2517

2517

Its good to see some posting again on here,i wonder if news re a takeover or partner has leaked.

From what I see this stock has reserves in abundance-from the blocks they hold and the seismics carried out.

Just need time to spud and whoosh-another GKP may very well be on the cards.

I'm in for 500,000 and its not often that I place a losing bet.

There's chatter on the iii board that 12p would be a realistic takeover price.....I for one would be devastated if they sold out that low, if the reserves turn out to be anywhere near as sizable as some folks are saying. On the flip side however, how often have we heard how good things look, only to be let down yet again.
I'm sure we'll find out sooner or later

Guys understand that Glitzy & Co are NOT going to sell
for less than 50p. If you want to know how I got that
figure then I suggest you come to AGM's.

Thats good enough for me M.

A lot of selling yet the price goes up significantly. Is this games or people wanting large amounts of stock?

Here to see how the 'lady's man' is - miss you on the other side- but your not here either. Hope you are well.

And the 'Romantic' one -hope you o.k. too.

Where is 'the Knight rider'- will he be back soon ?- not to saddle sore.

Please sp keep going in the upward direction. Best wishes to all.

Expecting further progress today.I know other associates will be buying large.

Could we be on to a 5 bagger her or even 10 once spudding and future drill results are known?
Wardle has done it in the past,so why not now????