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 board obviously has its reasons whether we like it or not. JW said they prefer to always underplay expectations and announce news when it is factual.

What I want to know is why the delay in RBC note on Amer. Maybe waiting for long term test confirmation on Iguasa??

Plenty still to look forward to though with a planned 11 well drill programme. in 12 months.

If Iguasa is now on LTT, does it mean the clean-up operation was successful? If it does, then surely it requires an RNS. Don't tell me that is not price sensitive info!

PS: fund managers at AXA and Henderson bought more during July lows.

I am sure they will issue a RNS when they are good and ready, i am more concerned about the quality than quantity of news flow.
The company should not have to micro-manage news flow in order to manipulate the share price up to keep PI's happy-the long term growth of intrinsic value should do that job-hopefuly!
Any idea where the change in AXA and Hendersons stakes came from?

As we grow steadily, we will attract the attention of the majors as to the asset acreage we hold. This is turn will attract real investors interest and then we will see a prolonged and steady rise. 11 well drilling target is ambitious by anyones standards. Wardle believes he can do it.Paraguay is the unknown in this evolving story.
We seem to have found support at 14p Positive news will take us up and we still await the numbers of OIP to cement further gains.

A very exciting time in the company's evolution from being a small producer to a medium sized one.

Evermore: yes, according to data on ft.com, AXA added circa 9m; the Henderson buying revealed by fund manager Stephen Peak (although he did not say how many).

Ooops: re my earlier post about Henderson. They sold their holding (according the FT they had about 4.2million) in July. Apologies all. Genuine mistake.

12.50 bid now ...... any theory's on what's going on ?

Low volume and disinterest. The RBC Broker report is due according to the comments at the AGM but until it is published and, assuming that they are still pleased they took on Amer - and why shouldn't they be? - or the company releases its drilling programme, clean up results etc, this just look like it will be overlooked.

SS doubt any of us can get any info from RBC re the brokers report unless any of us are clients. Iasked Nick if he knew and he has no idea when it will be out. One would assume the delay is to tie in with the release of news on Iguasa ,any LTT or drilling programmes.

Or could the delay in the broker note be to allow favoured clients in before the release, that's assuming it's bullish.

You lot can pump it up as much as you like but for whatever reason it was clearly well over-bought at 20p.

Maybe my 7p is a little negative but 8-10p would still be my target.

who cares

If it happens, you will if you're long!

I like to think I am

RBC told me that the report that their firm will put out will only be available to institutions because that is only who they deal with - no matter if you are in the market for a significant block of shares depending upon what it says. Confirms the view that this Board do not really value having private shareholders.
As for when that report will be issued the dealing part of RBC say that they do not know in advance as it is prepared independently of them. Guess one shouldn't be cynical but would be surprised if it is not fairly imminent.

Thanks SS. The RBC note will have moths on it at this rate.
I got the impression from someone quite senior in RBC that AMER would make the report public (as they did with Astaire's). Maybe that's changed since I made contact last month.

life is a paradox; so l am told. And the market is no different. So be the way of things. They say never get too sentimental about a stock. Yet surely it is pure sentiment that feeds the inertia/ momentum that sends a stock into orbit . l am extremely bullish about this stock ;of that i make no secret and after months of watching its individual trading idiosyncracies l am more bullish than ever; but with hindsight it was perhaps an error in judgement to have made known the size of my holding as it leaves anything i might wish to say open to accusations of ramping. lncidentally PTH ........qui s'excuse s'accuse ...{reg post 2379 ) l have no sinister agenda as you farcically suggest when you state i will dissappear altogether if AMER bombs or return attired in glory claiming credit if it should it hit the jackpot FFS .l dont need a free b/b to bolster my ego as you seem to think. l apologise if i gave you that impression; but l stand or fall on my own trading decisions.- tout a' fait !! Furthermore BHUNT posting 2381 l have sold NON of my holding as you have erroneously stated -au contraire - l have added. Where did you dream that nonsense ? Reg. My recent absence to which PTH catalogues a list of bizzarre possibilities and to which i resent in the strongest terms.Am i your lackey to be at your beck and call ........ l have a fu434g life you know.and in life the elements conspire on occassion in an attempt to put your ase in the hot seat .Mine was in a preliminary disciplinary hearing before my regulator which was "struck out" but not without causing a great amount of sleepless nights, and intrusive outrageous intrusive questioning to which i am not accustomed and more importantly could have led to criminal proceedings .-somehow that diminishes ones interest in stock trading .................................. and that is all i am prepared to say reg.the utter tiresome twaddle you twitter on about ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,. SS . l concur 100%-. GC is running this company like it was his private concern .His attitude reminds me of the many autocratic pre IPO company managing directors with whom l have had the fortune/ misfortune to have to negotiate prior to their admission to the market .But can we condemn him altogether? He is popular in a number of circles and successfully brings in investment , and is not scared to invest himself But i get your point .He can manage to smile and prattle on for a couple of hours at an AGM - but once outside that environment he is very reluctant to even locate let alone question. And that is unfortunately a very big negative for a chairman of what is an emerging public company with a huge s/ register which he undoubtadly abhors..As for RBC. You have a better chance of giving Mike Tyson a good hiding than getting anything out of them . Merchant bankers talk in a jargon that says a lot but means so little / REG AMER - lf Schlumberger have corrected the diverse complicated situ at lggy in remedying and preventing propogation of the cracks in the host rock ( and this will only be known when production itself commences ) and succeeded in isolating and rerouting basins of gas the said production will be cranked up nice and slowly to optimum levels of tolerance - it could be huge - shesssh- over two levels totalling over 350 feet of hydrocarbon saturation with drill stem tests showing light sweet crude oil on one level weighing in at 35.6 degrees -thats top dollar oil basically sayeth the RNS of Decembre 3rd 2009 .....thats a lot of oil mon amis -and an amount that would render irrelevant the sheer volume of shares in circulation and if brought to surface yield an s/p of 115 to 195p .... and thats in a single lead within the prospect - and after spending months studying the permissive geology of the prospect i STRONGLY suspect lggy will prove to be the first well of a field formation. Of that i am convinced. Totally.Seen this very pattern of trading lead to success for oil minnows so many times ..... ......you simply cant walk away from a find of that size and i would humbly suggest l think more than a couple of offset wells will be spudded here in the forecoming programme of high impact drilling . .lts a disgrace really that even to this very day most investors have no idea what is going on at lggy .l dont fully myself. lt must be one of the best kept secrets in the junior oil market yet perversely had the mkt known the worst scenario possible in that we expirienced a gas surge in the wellbore which nearly blew it into Honduras the s/p would, i admit, have been utterly decimated .With thier tardiness AMER, through lack of regulation, bought themselves the time to at least attempt to rectify matters and allowed the mkt to think what it wanted As i said earliar life is a paradox ; and here we have one staring us in the face.Everyone thought the high kilopascal mudweight was the cause of the problem, when in fact it was the cure to what could have been a disasterous blowout ...................Reg the markets - Now while l place a great deal of the blame at the door of AIM regulation, l think the board, and esp GC has totally excerbated the situation and given mms free reign to play this stock like a piano. - but accept it - thats their job !! Their job is simple- to make ,and stimulate, a market and not simply destroy it juste for the sake of it as some PI s tend to think .This recent pruning in s/p has all the hallmarks of a good old fashioned treeshake..with silly little buys adding 0.5p to offer on a number of occassions ....mms picking them up cheap now only to resell in a few months at a nice premium .They are collecting and not the reverse as dealer would have you believe. lf they thought this was a turkey it would be 8p already mms are no more than bookies at the end of the day- with a very a sharp nose for peoples fear and greed ..Furthermore, and on this point i rest my case - we are surrounded on all sides by producing fields - some producing 10,000 bpdoe- at both our Platinillo and Tigra/Fenix prospects .Literally surrounded by producers who share adjacent prospects with identical permissive geology -companies like Petrominerales whose last 4 strikes of 6,000 10,000,11,00,15,000, bpdoe respectively were all found in adjacent prospects to ours. Same story at Pacific Rubiales . Finally PTH is quite wrong . You can ONLY measure the future success of a micro oil expo/ producer by the quality of its senior geologists and their success ratio and in John Wardle we have one of the very best. As with gold prospectors it is no coincidence the cream of the oilmen dont make juste one truly great find -they have a tendancy to repeat it time and time again .Accredited for identifying three prospects for BP in Columbia ( which very recently sold for $1.9 billion) ,and later transforming Emerald energy drilling in Columbia from a company with an s/p of 2p into one that sold for $530 million to Sinopec, l would suggest this individual knows his marbles when it comes to the geology of Columbia .And with the numerous big finds in columbia recently and several components of big oil sniffing around i juste cant resist it ............ramping ? moi ?? mais non !!! :-) ............l would simply suggest to GC its safe now to come out of the bunker and come clean . now let this deliciously cruel game play itself out ,,,,,,,,,,,,

Good to have you back.

Yes Good to have you back "J"

juste about Roly ...juste about mon ami ,,,,my friend was sentanced to six months the other day for insider trading so everything feels a little hollow at the moment - mind you he always said he would get the FT front page one day but somehow i dont think he meant it in that manner ,,,,....is nice to speak to you also ,,as always ......,doyourself a favour and retain all gold stock now its broken $1275 and an even bigger favour and find a junior play on silver ,,,,,,,,vox et praeterea nihil