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.

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.

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chairman's statement

big upside at Alea by end of feb!

he's late perhaps his fax isn't working in SA

Perhaps it's such a big upside that the calculation is taking longer than he thought.

He's either in or about to go to South America, according to a small article in the sports pages of the mail on Monday; I think it was.

Extract,

Giles Clarke, the highly combative chairman of the ECB who is usually very visible during Test tours, will be in South America rather than Bangladesh over the next month. Clarke is also chairman and a significant shareholder of oil and gas exploratory company Amerisure Resources, who have already found oil in Colombia and are searching for it in Paraguay, where Giles will find rather more interest in the forthcoming football World Cup than cricket.

Read more: http://www.dailymail.co.uk/sport/article-1254726/CHARLES-SALE-Fabio-Capello-spared-Frosty-inquisition.html#ixzz0hI4d5Flv

Price firming up. Perhaps we will get a postcard from the boss man before too long.

An update must be coming very soon

Pinga ding ding!

I daren't say anything.
2517

Decent rise today, does anyone know if news will be coming in in the next few days?

I guess we will get an RNS tomorrow - something must have leaked for the price to be this high

Well I am disappointed - no RNS.

Daily Express:

steady as she goes.

All time highs for the sp and not one comment.
News expected on all fronts imminently.

Nas: yes, it's very exciting. The company is now entering a new phase in its development. An announcement tomorrow? Who knows? - but this week surely.

Well I hear that the time is very very close for major announcement. I am topping up when I am able to as it is sheer folly to be out of a stock that could easily treble from its current share price within a matter of months.

Sivad,

You sound confident and I very much hope that you are right.

sivad

I think news would have to be fanatastic on all fronts and that maybe a little optimistic, but 30's is very possible if fenix is a sgood as they think it might be along with the major upside at Alea.