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.

ptholden


re- If you're going to ramp stocks at least try and remain sympathetic with the truth.

I have NO holding on the stock AMER, only because I am fully invested since last
Friday with EMG ( a keep an EYE last Week, and UPS last Sunday ) so stop talking nonsense

Whilst I have no opinion as to whether AMER will go up or down

But it seems I know just a bit more than you when the stocks are going to move, your problem is unhappiness, so trying to find faults around to fullfill those emptiness on you.

Just get lost, otherwise you are just another STALKER by now. Do not forget you did the same at LLOY

Another reasonable performance today on the back of expected and hoped for good OIP numbers.

MRSI

You really are a total moron, I can understand why AM gave you the boot (albeit apparently on a temporary basis)

I can assure you I am very happy and don't really care if AMER goes up or down, what I do care about is ill-informed chancers like you posting misleading information and not for the first time.

If you have a problem understanding my position, I'll make it clear:

You claimed the RSI was oversold at the 45 level - even anyone with half an understandingof TA knows that statement is rubbish, in any event, the RSI is not an over-bought / over-sold indicator, got it??

For the AMER holders I do indeed hope the stock lives up to expectations, I made a few bob on it myself during the Chaco days.

Sorry yuff: but i thought i made my position clear in posting 1813 when i said .."my short has paid of handsomely at 2k a point irrespective of premium paid " ...blah blah + more blah blah lol ...i even said i was a% player and NEVER greedy ....Perhaps b/cus buried in big posting u missed my statement .,............ Opened 2 options of initially 50,000 and then 100,000 to sell @16p/took up opt. to close pos. @ 13-47 and 13.9 . yielding a tad more than 6k after costs ...Hence why nas daq responded with his silly comment that he wouldnt get out of bed to make such a paltry sum let alone phone his broker to place it ..............................................................................................................................................................................................................................................................................................................................................................................................................................................................................But still not prepared to go long ......But as they say " NEVER say Never "..

...Dont get me wrong !!! Despite closing shorts i remain very suspicious and cynical reg Amer considering their past . Feel premature in closing sht and feel l should have waited for a bad couple of days on American bourses with its effect on Brit, mkt . But with 30 shorts in play ( 26 after today ) it makes for hard work and time consumption .... Still a feeling of negativity reg AMER hence recent postings . but i am always open to persuasion and am never too proud to admit i could be wrong - .......................................................................................................................................................................................................................................................................................................................................................................................................................................................................,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,................................................................... ,,,..D/D ..How comes it that MRSI got booted off $AM ? His charts and comments equate to very little -but surely u cant justify booting some-one of for that ?

mrsi was booted off for bad language and personal attacks. I lost a lot of respect for him following his indiscipline.[he was goaded but went too far in his responses]

i for one like his charts and his explanations but do take them with a pinch of salt[ i am not a chartist and i also never take anyone's word without DMOR]

Welcome back MRSI, i am all for banter[but please keep it clean and not too personal] as it spoils the threads.[same for other 'banter' merchants]

FWIW, i am looking to go long on AMER at suitable point in the future[not least when i have some funds to play with]. have been reasonably successful with this stock though was hammered when it was called chaco.

bon chance to all

Alex

abusing emu (BB) excepted .... that's all he's here for

and it looks as if it's all kicking off again on this thread..........what a bunch of .....

did someone abuse me????? so f** cking what, do I care..
Get back to Dubai you..

sheeesh, left more confused than b4 i asked the question . BB ..When u say go back to Dubai- to whom are you referring as i spent a couple of months there in 2008 . Talk about what oil money can achieve !!...rather wierd actually/very expensive / very strange laws/ / drinking illegal yet all brit pats( of which there are many) pissed every night.lt boasts what will be the tallest building in the world would u believe ??? . Entreprenuers have even shifted zillions and zillions of tonnes of sand into the sea making up a set if lslands which represent a map of the world . ABSOLUTELY amazing !! Need deep pockets tho ..Property prices are as crazy as UK in 2007 Bubble due to burst Mr. C knows it better than myself ; but Oi i couldnt find the cheap accomodation of which u talked ................................................SORRY im WAFFLING again

yep

yuff
Don't you just love the traders who suddenly decide they have closed their position 24hrs after the market went against them!

I wonder to whom you are referring nas??

Put it this way anyone with a short now open on AMER at this time prior to OIP news must be a very brave or silly person indeed.

it wasn't you tfc, it's the great one with crystal balls and the nose that grows..

Would you all please stop goading TFC , he has enough to do analysing the 26 companies (latest count) he is shorting without wasting time responding on here.

Another good start to the day, the sp movement I mean.
2517

annie

It's only 26 because he closed 4 shorts after they went up, but managed to get IG Index to let him buy the price pre the rise :-)

Yuff

do we know anyone who is allowed to trade on hindsight?

something going on between annie and tfc......very defencesive.

Confirmed

" ptholden " Is a STALKER,

I've checked the thread for the last 2 month and the stalker never posted, and soon as I did post a follow post did appeared.

2nd day moving higher since

Level 2 / order book

VERY STRONG bid side with 8 extra orders than offer side
most likley not much movement for the moment being as there are
large amounts at the moment at bid price 15p with 250k for 400K at offer 16p