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.

SS ..the only defence, and it is something of a weak defence , i can put forward for GC is that he did stipulate from day one of his appointment that the days of "piecemeal " drip fed news to the mkt were over as, in his eyes, they caused too much speculation and too much froth in s/p; but for him to try to USE that statement now to justify this sudden dearth of news addressing a number of very important coorperate informations / issues ,such as Fenix reserves , and esp. state of play at lguasa 1 and lsabelle 1 ,and future drilling intinary is simply not on ..This information is imperative to us ALL. Look at all the trouble regs put in place to create a level playing field when it came to takeovers, yet when it comes to everyday coorperate info that stimulates the mkt they treat us as children. After all old Giles had no difficulty in opening his mouth, and spilling the beans, in persuading bloody Japanese vulture capitalists and other as yet un named nefarious institutions to buy millions and tens of millions - so why not treat us as adults and dare risk a little froth ( bloody chance would be a fine thing ;-)) in s/p and tell us what is going on esp at a well we drilled in oct of 2009 .... Oh indeedy i can picture GC wishing to pile up info for maximum impact /effect ...but say s/p in meantime s/p fell to 13p any post AGM rise in s/p would have to be in excess of 50% to even approach respectability, and the very position we were in months ago . As you said interims within 10 days should shed a little more light on subject .....hmmm One last thing - Not that it would initially effect me directly, or immediately, but one thing that does bother me SS is GC in his determination to reduce share register opting for a share consolidation - say on a 1 / 10 basis - and enforced selling with those left with less than 10,000 shares ( 100,000 pre consolidation) being sold out at current low levels leaving approx 90 million shares in the mix- all bearing the lost premium on those sold out .. ...What sayeth you ? lve seen it happen so many times recently . lf my memory serves me right it happened at JWs previous employers - EEN ,,,... .....NAS ...You have more or less summed up by position reg. this matter very succinctly.Like your good self , l dont think for one second , bad news is on the horizon ,and not only as a consequence of these multi million $ buys of late, but more as a result of what we ALREADY have in our portfolio of prospects .-surrounded as we are at both sides at Fenix/ Tigra by gushers exploited by Petrominerales and Pacific Rubiales and ect ect ....but my real reason for attending AGM is to try to get a few minutes alone with JW ............As SS clearly states - he is the key to success here - and if by chance the s/p is 20 odd pence before AGM i will still want GC to justify such late disclosure ..... l may have a bad temper; but i am always courteous and polite ......

Not like Lottie ... ..... lol

" I see a black car and want to paint it white "

Sorry off topic

..Quite the comedian Roly lol :-))..Perhaps a little before my time but thats an absolute classic - The Rolly Stones ? ..Paint it Black ? ..The irony of you bringing it up now is quite remarkable ... l laugh about it now- but at the time of its happening it wasnt too funny explaining to the insurers . hmmm....

Also by Chris Farlowe, who had a hit with " Out of time "

I note that Pacific Rubiales (a big player in Colombia) has taken up a block next door to Platanillo. Got block PUT9 in the latest ANH bidding round to find "production opportunities similar to surrounding blocks." Starting work asap. Part of $2b exploration spend in Colombia over next two years. Interesting.

thought the very same thing myself BWD,,,,,,,, more than implies surrounding blocks- like ours- are very lucrative. Pity the mkt doesnt yet see it that way ....Yet again buys outweigh sells by 4.5 / 1 ....buys of 500,000 and 250,000 standing out against a sea of silly sized sells and mms shave 0.25 from s/p Sets ! utter tosh

Sounds like AMER could become a target before too long. Hopefully, not before the Paraguay potential has been assessed.

This may be why Amer has been storing up newsflow ie so that it has something big to announce in case an opportunistic bid comes along (I don't believe the ANH is responsible for all the absence of news) - a very "full update" is likely this week, latest Monday week, and a few nearer to this than I am now reckon on an immediate hike in production to 2000 b/d plus an independent assessment of reserves at much higher levels than previously forecast for Colombian fields.
The Pacific Rubiales investment must be very good news and is sure to help a wider interest in this locality.

Chart beginning to look a bit dodgy. SS that last post is total bollocks, wishful thinking, but good luck anyway.

Is it? We'll see soon enough.

Pth,

I doubt that you have any better info than SS. The chances are then that your post is total bollocks too. Fair's fair.

correct me if i'm wrong but isn't a head and shoulder pattern extremely bullish?

nas -yes same breakout pattern as stirrup and horseshoe chart. Buying signal.

yes nas .so they say ..... a very similar purist head and shoulders pattern in dec. led to a breakout in s/p .........oops already answered by Yuff- apologies ....(edit ).

Bd, I don't have any info at all, so difficult to determine if my lack of info bollocks is any better or worse then SS's lack of info bollocks!. For clarity, my bollocks comment referred to the CO witholding price sensitive information. It all sounded like a desperate attempt to rationalise the poor SP performance.

Incidentally, I've turned the chart on its side and upside down and fail to see a H&S formation, must go to Specsavers.

Now there's a good investment for someone with a little foresight

If Specsavers stocked them, I would've invested in a pair of hindsight goggles.

Assuming the mooted July 5 deadline and emails from the company are to be believed, then tomorrow or Monday are the only likely days left for an update on developments. I am, however, prepared for anything.

Results out this morning , will they move the share upwards ?

I would doubt it with a pre tax loss...think i shall sell and take a bit of profit whilst it's there.

Will be 7-8p soon no matter what they say here.