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.

TheFrenchConnection

re - l really laughed at myself being a quoted company ptoviding wind power


Hoping you are not going to provide the wind power as on the pictures.

TFC-you seem to forget that as a gold mining company in far flung places AMER is now an oil producer being run by highly competent oil men with a business guru at the helm.

Your pathetic attemts to rubbish the company are as laughable as the over inflated opinion you have of yourself mon ami!

Hi tudwick,

Post 1820, nice one!!!

Whilst having no knowledge of TFC's skills as a trader, his comparison with CDS is absurd.

CDS's assets are in Paraguay, and are on paper only. AMER has two fields in Colombia, one of which is producing. The second has shown tremendous promise, as we know, and is undergoing testing. AMER also has blocks in Paraguay.

As for his valuation, well, I wouldn't give you tuppence!

Well said.

Strange how blackdown; yuff and bigwavedave always appear and disappear together. One and the same person no doubt and a warning to those who may be pursuaded by him/her.

dealer: I think you should have a lie down. You sound like one of those mad conspiracy theorists. You'll be telling us what you think about the Moon landings next.

Mes amities mes amis ,Salut ! err .. deja vu man ...Now l expirienced the very same resistance on this BB when shorting NML , SEO , VOG, EEL ,RPT AND Amer ( ONCE when it was Chaco and again as Amer when it nosedived to less than 2p !! ),, and a host of other stocks - mainly retailers and construction outfits with high gearing -so obviously i am well accustomed to personal insults. As for my trading history; Well Wedd-Durlacher ,Killicks,Citigroup, Barclays and Casanove have all seen fit to employ me which at least surely suggests im not a complete naive, dupeable cretin of the first order of hauteur .Perhaps the over inflated opinion you think l have of myself spills over from the environment in which l worked for many years. l strongly disagree,of course , but in saying that lm am not the best judge of that.and am sorry you feel that way., l try to merely speak my mind. Perhaps Aldwickk who knows me best over a number of years ,and knows 99% of my reckies, could answer that better than me ......For one thing i have learnt is that u will always find someone something out there who is cleverer than yourself coupled with the simple fact in that we all have something to offer,. ......lncidentally i would like to say that this current mkt is one of the most dangerous, uncertain and corrupted one in which i have operated .l dont know what Adam Smith or Malthus would have made of such a subsidized mkt within a capitalist system l So vigilance is the keyword. D/D ...Are you saying those 3 individuals are in fact one character ? How strange Wow, talk about an alter ego ....

TFC - you should remember that AMER is a very much different company to the CHP days, and indeed this time last year. However, I do agree with your view about the dangers of the current market.

I can assure you that Blackdown, Yuff and BWD are not one and the same person. However, it is becoming more and more likely that dd is either Rex Harbour, closely related, or one of his employees.

Of all the things I wish I was, having a name like Rex isn't one of them!

lol

tfc

Amazing how such a successful trader on all those stocks can only manage a paltry 2k a penny.
Have a word with Rex he might teach you a thing or 2, paper profit has increased by 375k today, suspect he is worth paying attention to rather than a small time tea boy like yourself, and no I'm not yuff, blackdown or bigwavedave.
Most holders on amer, on here, wouldn't get out of bed for that, least actually be bothered to pick up a phone and place the short.

dealerdear - 16 Feb 2010 13:50 - 1826 of 1832
Strange how blackdown; yuff and bigwavedave always appear and disappear together. One and the same person no doubt and a warning to those who may be pursuaded by him/her.


WRONG!!!!!!! But the again DD I guess that is as far as your imagination goes. TFC On which BB do Adam Smith and Malthus post? LOL!!!!!!!!!

TFC why so many employers??

I rest my case.

I wondered how long it would be for 'them' to reply ..

It's them voices in yer head you've got to worry about, mate!

TFC you forgot to mention going short of PET when they were 140p.

Ticking up on low vol. today.
2517

.

ahhhaaa ello Roly .....you still holding AMER ? ..lf so can u tell me the target price you are preparing to exit ; or are u ad libbing and seeing which way the winds blowing on a daily basis ?. Twas a good day for the oiles -good and bad alike . . ..But current mkt is scarey ln saying that it didnt stop me adding a load of PTR and a few more mxp .......editing .........Yuff - Why so many employers ? you ask . Simple .Either promotion or a bigger slice of the cake.,,,pur et simple