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.

Brief mention in the D Express today: "Talk of a positive update on its Fenix block boosted oil and gas group Amerisur Resources 1.5p to 16.25p".

Yes bwd, AMER has been stronger this week, may be in anticipation of a good update, let's hope so.
2517

DAQ et les filles -lf l had edited my posting how comes it u retorted immediately with your banal comments reg. my ' paltry profit of 6k ' - NOW ANSWER MY QUESTION THIS TIME ! !!!!!! ...tu es un branleur et aussi- vous vous trompez !!!!!!!sien !!!! / .ln addition Annie would have noticed any edit immediately as she seems to have an eye for such things :- )).................................Yuff - Have no position at all. Cheers for info/data reg Amer tho ... Was a post of interest in stark contrast to all this uneccassary bickering

Yes TFC, this thread has deteriorated because of the unnecessary bickering, it would be good to get back to discussing the merits (or otherwise) of AMER. Exciting times may be just weeks away now, so come on guys please stick to the reasons the threads were intended for. Good luck to all.
2517

I think the only "french connection " with TFC is in the high street..

Bb
if only you knew how true those words are. maybe you do,;-)
regards
jkd

merde

TFC
a translation would be appreciated.
many thanks to you.
regards
jkd

actually what do ferkin care .Personally i dont care if you think i am the proverbial Dutchmans uncle .ln fact i shall adopt that new NDP/..@+.....

JKD
surely this must be one of the first words of French every schoolboy learns and remembers much to his teachers chagrin. i remember the meaning well and i last studied French in 1980/1. if you are truly in the dark will be happy to translate if you are merely being sarcastic i will quietly climb back in my hole.
regards
Alex

A
thanks for your post, i did know the word, and i was not being sarcastic.
thanks for your concern.
regards
jkd
edit/ps it is much appreciated.

Certainly holding up well this morning and can only bode well for what we hope for and that is positive numbers of OIP.

If these are as good as we hope than will not be a surprise to see a small but steady move up this week and perhaps early next week.

.

..Yuff -Could i merely ask you if i may ; What is yr strategy reg AMER ?. Are you in strictly for the long term { involving exploitation of their many prospects } Hence do you have a target sp ? ; or rather, do u await a bit of froth in current s/p, after what is positive news and then selling either a % or all your holding ? ..l notice the majority of oiles up again today inc my own minnions ..MXP, AFR and PTR ,.....but have a feeling a little paper profit will be crystalized this week following some rather big gains ....

TFC

KYS , up on increased volume. shame about AFE ,ZOX and LUP all of which I don't hold now.

........O/T >> APOLOGIES to Amer readers !.!.sold lup pre-consolidation @18p rebought 12p post consol after GH shafted all small holders with less than a 20k holding .....Since then s/p gone crazy on rel. small volume .One of the most discounted stocks on mkt . G and T, its 100% subsid is worth 50p to 60p on its own ....Study the trades - Despite selling of past few weeks mms have marked it up ........which is odd considering no declaration of major intetest has been announced . Sold ZOX years ago but have a small interest in AFE ...................................................................................................................................................................................................................................Roly - What is your strategy reg Amer ? Long / short term ? SP target ? What sayeth you ?

re - merde

A present for TFC from the Ice cream COW

Jamie,

Bought @ 8p ..... sold half @ 16 , ..... maybe wait for next update

so effectively a free ride. There always the best....,,,,as scared money never wins...........put remainder in AFR ,,,,,run by ex head of OPEC ,,............You think he isnt in the loop >

TFC

Have you read ... The February Newsletter from the SF t1ps Smaller Companies Gold Fund ? its not off topic it mentions the oil market as well.