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.

News on its way? Hope its good!

as do most holders.
good day so far, ACC up 13%, AMER 7%, D1 9%.

Big buys in the pipeline from BC I hear-I guess we will have an update on P1 tomorrow and confirmation of Alea sooner rather than later-this from my contacts at the dealing desks

and GOO stays true to form and grovels around with the maggots!

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Sharesure
A good week overall but still waiting for news.

Bit worrying the amount of large (ish) sells going thru so far this morning....hopefully this isn't an early warning sign of (further) bad news about to be announced re. latest drilling

tudwick,you took the words out of my mouth!!,

are these sells all the (in the know)????,very worried now.

I doubt it. This new management team have operated a very tight ship and the number of sells going through are tiny. If there had been a leak - we would have seen a much higher volume than this.

I think this is profit taking - after all they had risen 25% over last weak - and who van blame them.

bhunt,i hope you are right.,just strange that sells took place in a small timeframe,it seems to have calmed down for now .

Ditto, i so hope you are right Bhunt, especially after what us long term holders have already been thru - surely we are due some good news and by god we need it !

tudwick - am a long termer too - bought originally 3 years ago at 6p and went all the way to 18p+ and held all the way down to 6p where I had to unload 75% of my shares cos I got greedy and bought CFD's.

Badly burned - so a tad more cautious this time round.

Likewise, hold various groups of these ranging from 6.8p up to 16.2p and haven't offloaded any to date, probably a dangerous stance on my behalf....so my fingers are crossed that with the new management & hopefully better chances of a positive outcome from these re-opened sites, (although in this field absolutely nothing is guaranteed) I'm hoping for good news to spark up the sp somewhat.
Who am i kidding....

Looks like the lights have been switched back on!!!

about time too... lets hope someone knows something positive, although i suspect just anticipation purchasing...

Far too early to get excited,however yesterday was a worry when all the sells started to come through,we all know this can go either way,so i am holding on to my seatbelt,if youre not in it you cant win it,same applies to loose it.
GOOD LUCK TO ALL THAT HOLD!!

I think that if the step out well had proved to be a duster then an RNS would have come out a couple of days ago. Announcing that the drilling was successful but not being able to say what the flow rates are would have led to speculation - something the mgt has said it wishes to avoid. I think it is fairly safe to assume that they are now testing flow rates and will not announce anything until they can say what those are. That still doesn't mean that this is a one way bet just yet since if the flow rates are useless it's the same as hitting a dry well.
The key followers of this stock in the City still seem to be very positive that this is going to do well.
The selling yesterday was miniscule as is the buying today so until the testing is finished this is likely to be the way things go - unless someone leaks some information - always a possibility with 3 parties involved.

I suppose the results from Platanillo-1 could dovetail with initial news from Alea which has much better odds of success, seeing as it has produced oil before... but may take longer.

I am told evaluation testing taking place as drill depth reached over the weekend.

Nervous waiting period for confirmation of hydrocarbon find.

VERY NERVOUS here.,Then thats the game on this type of stock