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.

Yes but with the spread, nobody has made money out of it and that is the point. MM's just playing games and I think it is still going down taking all the new investors with it.

and who on earth is Pepe when he is around ? ?Do tell.

sorry should have been peep's as in people... i'm up 25% so i call that a profit....don't you??

Can we have some views from people not shorting fellas?

Sorry BB. Not familiar with internet jargon . l thought u were having a personal poke at me. OH indeedy up 25% can only be called a profit despite spread./ Mr C.....J' aime MXP . Je voudrais savoir ce que vous pensez de MXP ?? Qu'en pensez vous ? Selon moi c'est bien.

FT today:
Amerisur Resources , which is chaired by Giles Clarke of the England & Wales Cricket Board, rallied 8 per cent to 13p after being granted permission to start commercial production at the Platanillo block in Colombia.

FWIT I'm not short anymore.

Anyway, I'm only a tiny player and can assure you I have no effect on the sp!

sounds like TFC is.......short that is..:))

I see we are getting closer to results of the first tests and the sp is slowly creeping up in anticipation of +ve news.

Lets hope we are not disappointed then

When do we see as the next big dates for the company?

Barry: I don't think we will be....Shankly: .. the ides of March ?

must be witching hour......;))

Someone loves you anyway .Nice tranche of 500,000 bought @ 14.25 yesterday.

Bought these less then 3 months ago , now showing a 74% profit.

Jamie, when will you have your email set up ? got some news that will surprise you. cheers Roly.

Go to AFR thread Roly. Read last post. lncidentally you have never failed to surprise me ..hehe .Ever since the time you told me many years ago that u were trading without a pc and using teletext :-)). ooo i like surprises .Do tell. You married a 16 year old fillipino ? ( juste teasing - @+ J

No, she is not 16 ........

suggest you check below you might have a big surprise!

perhaps it's 16 inches...:))

..:-)) hehe ..that was my first thought BB. But would l be half right Roly in asking if you entered into "un affaire de coeur et de honneur" " or indeedy married a Fillipino gal ? ?? l think i am......well F*** me ...but "eheu fugaces.....labuter anni . vita brevis ....Life is soooo bloody SHORT, tooooo short not to TRY and find happiness and a little deight in every day So great news Roly. !! .Wish you evry happiness non ami !!! ...a'beintot .. @+ .J....