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.

RF,

Hope to hear that you are a holder soon.

It's worth checking out the presentations on the Amerisur website. Whilst Paraguay is a way off and relatively high risk, the language used by the company - which has a reputation for prudence when it comes to public pronouncements -includes 'potentially tranformational for shareholders'. Make of that what you will, but I would say that success there will mean an sp measured in numbers of pounds rather than pence. Anyway, by mid 2011 we will know more - potentially a lot more.

Bon chance.

tfc

A lot has happened since last week namely the PIIGS and everyone being spooked about it and just wondered whether you had lost some of your bullishness but it seems that you haven't which is good to hear as I hold quite a few of these and have added over the last week on the dips.

Does anyone have any views on/knowledge about today's unusual trades?
TIA.

Your patently ref. to the 14.8 million " O " trades!!.,,ca pue !! lt takes a thief to catch a theif . Or so l am told .....Reg. wednesday trading -Smokes and mirrors comes to mind . And all is not as it seems .Not at all. ,,lt f*****g stinks .This market is rotton to the very core. ..On a note of comparative levity,of course, it could be GC selling up to finance his pending litigation with lMF what with him having maliciously and falsely stating that they (lMF) were in talks with the lndian premier league to stage a rebel cricket tournament in UK ...hehe lf only it was as nice and simple as that; but it never is ,,is it ? ...........My take on this is that it could be, and i am reluctant to say this - but it could be,and appears to be , a hi value individual ( having taken top accountant advice and considering the status and price achieved ) moving stock into one of the many financial instruments..( such as a simple holding company..) that exist for this purpose. / only one reason an individual would do that .and thats paying less CGT .But it was neither a buy nor a sell nor a rollie -u can be sure of that !!.......News iminent on lg ...have this from horses mouth . resavoir was re-entered and equiment installed in preparation for stimulation.......About f**** time as well as without this news in public domain we are being deceived in a big way -and meanwhile thousands of small pi s will be automatically sold out of the mkt while mms abuse privalege in taking s/p on walkies and lining pockets of mateys..............Have been on to GC about clarification of lg (thursday - unavailable for comment). ,,,,,utterly disgusted with the "old pals "act rearing its ugly head ........... Marx had the English well sussed out

Dave as I said on the other side. Its either someone moving their stock into a holding Co or some such like or it could be related to Bluehouse unloading their stock over the last 3 or 4 Months, yest ann signaling that they have now sold out 100% as rumoured in the FT. Crumbs they may have it right for a change!!!!

TFC - thanks re yesterday's trade etc.
Unfortunately, despite some positive developments recently, AMER has fallen back into the old habit of keeping its shareholders in the dark. I am content to wait for them get on with the work and learn the news once various tests etc have been completed. But I can think of no reasonable excuse for not issuing an update that Iguasa re-entry had actually happened.

ML - thanks. Didn't read all the posts on the other side properly but it sounds right. Just can't help feeling a bit miffed that someone has trousered a nice deal thanks to the price being walked down. Well, that how it seems anyway. In this case probably nothing to do with AMER - but I wonder if we would be back to sub 17.p had the appropriate updates been issued. One for the AGM, I suppose.

Taking bid down to 15.75 has all the hallmarks of a good old fashioned tree shake expoiting the principle that scared money never wins ....nothing more/ nothing less !!!...and so flagrant it beggars belief .No-one will convince me otherwise / dont ever talk to me about "sets" providing a level playing field; and preventing mms from walking the dog and buying it a diamond collar in the process -esp at a time when news of a positive nature reg lg is being prepared for public consumption early to mid june - from 150 to 350 bbloe p/d to in excess of 875/ 1025 bblpoe pd - Delay in this news is only due to AMER wishing to accurately evaluate the longevity of achieved increase in prod. levels and the very size of said resource ..../ utterly disgusted but never surprised reg mm activity . Will post later in more detail when have time as am planning a blitzkreig top up. o/t ..l note CDS- despite j/v with big oil - considering delisting from AIM as a consequence of inability to raise funds to finance drilling of Paraguyan prospects .Yet we with our Columbian/Paraguyan assets were successful .Think about it.........Lets not forget JW was content to expolit leads we had in Columbia prior to the raising of $20m to accelerate pace of drilling programme.

All in ...lm @ 16.62

That's a bold step.

TFC-are you the buyer of the 1m? If you are, and based on what you posted last week,I will follow you with purchases tomorrow???

GL

Went on a buying spree before the bell this morning topping up some of my holdings . AMER@16.60 , CEY@145 , MML@263 , AFE@4.38 , and PET@27.2

.........O/T...a nice shopping bag of goodies Roly -three of which i own myself. -AMER, CEY, and AFE. Have a lot of friends who like MML. As for PET -Do y/self a favour and watch it like a hawk as a story is in the making/ breaking that will absolutely decimate ALL oilees in lraq irespective of whether virgin fields or those KNOWN TO BE contaminated by uranium missiles from war with the usa/ coalition . . ...........

So what oilee would you go short on ? Maybe that is why PET as gone into Ghana now that they have got the cash from the Iraq goverment.

Even at this low price it as outperformed Afren.

May be even more after the next few days.

A couple of very large buys at 17p so far today. Has TFC been dipping into his small change pocket again? ;o)

Analyst presentation

http://www.amerisurresources.com/Amerisur_Analyst_Presentation_May_2010.pdf

A rehash of the April presentation b ut with updated oil of 500 barrels using acid flow and mention of gas reserves too

Barry: Are you surprised there is no update on progress re. mud problem on Iguasa 1 or do you believe this has now been overcome ? Regards.

yes I am surprised and yes I do think the mud problem has been overcome - but I have no intel to back that up - just my belief in this management team that they will sort it one wa or another

We will have to wait for TFC to post then.