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.

Greetings all from broadmoor

salut !/ Mes amities........... a room for one please

Tfc

JW made a big thing at the agm about how they had detailed logs and images from every foot of iggy, shame they are still keeping that info to themselves a year later!!!!!!

bwd, Don't know re RBC - when I asked I got a load of c**p about chinese walls between their research team and dealing room. That's what Balls Bros etc was invented for! I agree with TFC - they do know a lot more than they are letting on but why they want to keep it quiet for the moment you can only guess. I reckon that they don't want to attract attention at the moment - that may be in our interests longer term but it is crediting them with more than I generally do. Just relax in the knowledge that the board do have significant holdings and not just the 'cheap' share options.

SS I agree with your sentiments. What does surprise me is that if Iggyboy is as good as we were initially led to believe by JW and i still do believe him as he looked in to my eyes and told me it was a gem of well, why have the likes via Bob C not piled in at these lowly levels. apart from that mini spurt last Friday.

I suppose the be all and emnd all is that once remedial work is 100% completed ,they wont release potential oip numbers for fear of causing a false market.

GC is very thorough on these sort of things and will not I believe want to sully his golden boy reputation in any way.

However,the end result will be positive for us all.

TFC you will just have to bite the bullet on this one and not trade it!!

not sure if i understand you correctly yuff. But, seriously mon ami , albeit a trader by inclination, i bought AMER as a long term investment and as such is held in a sipp and trust fund .l did not buy to trade . ....but even with an investment i expect to be kept up to speed and be told about developments - and not be left sitting on my arse a year after a well has been spudded and still non the wiser as to its result !.............

TFC -I agree with what you say and as Nas always says its almost a year since Iggyboy was spudded. And we know as much now as we did then.

I only hope that you are right when you say ".But on a cryptic note ,i hear voices -and one voice is telling me they do fucking know ...aww sssshhhheeeeesshh ,,,,,, l must have sleep walked into another century"

I have patience and it will be rewarded.

SS - thanks. Similar reponse for me. I'm sure they have their own reasons for holding back. I can only assume it's because they are waiting for a further developments so that coverage can be updated/tweaked accordingly.
But, as Yuff says, it is odd that AMER themselves are frustrated that the report is tucked away gathering digital dust.
I did notice that both RBC departments were represented on the last RNS for shareholder enquiries so the Chinese wall must be only so thick.

satis verborum !! ..........verbum sat sapienti

quiet here today!!!!

basically nas because as my posting infers there is nowt to say reg.AMER that hasnt been said a thousand times - but a single word be enough for a wise man ......must say all week buying has outstripped selling ..........and when bid hits 12.75 a ready market appears from the ethers and snaps the beggars up .{ as citizen SS pointed out ages ago}......posing the usual conundrum do an element of traders / investors construe that level as good value ..few rollovers this week / impending news ?? .........but dont hold your breath ...zzzzzzzzzzzzzzzzz

No AT trades until 4.24 and then a spike up to 14p

Roll on next week Nas.

Friday is approaching!

What happens on Friday?

Poet's Day.
2517

Hi bwd

It has spiked up in the afternoon last 2 fridays, I suspect on potential result of iggy test

Ah, I see. Well you never know Nas. Friday could be the new Thursday!
George - think I'll bring poet's day forward ... I can actually see the sun.

bwd---Good on you, you deserve it.
2517

Oh, not sure sure about that George! But same to you. ATB.