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.

Ald,

I don't blame you at all. I am thinking the same thing after 6 long years...

You know what's going to happen now , a RNS that will see these rocket

There is always that chance, maybe I'll keep a few just in case.

I wouldn't hold your breath!

I would-this share still has an awful lot to offer-what with a planned back to back drill programme in Q1 at Plat.

If Iggy cannot be resolved a new Iggy 2 will be drilled alongside once Fronterra release their findings.

Yuff - re the Fronterra report: I got the impression from the rns that it won't be until next year but I guess from what you say that something is due before then...?

BWD I am advised that work with Fronterra contiues both in Colombia and Houston.

OK, thanks. The asset is still worth pursuing. I guess it will be a case of where to put the new well(s).

Quick question people - Has anyone else received a phone call from a supposed american company offering to buy your shares @ 80p a share ? I know of 2 others who have also received calls over the past couple of days.

t,

Folks on the other side.

...am assuming you mean `don't touch them with a bargepole' lol

The worry is - where did they get your details from ??

that was my other thought...

from the shareholders list unless they are held in a nominee account

Unless i'm being extremely naive here, surely noone can buy the entire shareholder listing, including personal phone numbers...? If so, who the hell is selling this info in the first place ?

The words barge and pole spring to mind.

Why would they pay 80p for your holding when they can buy them for a fraction of that in the market, blackdown is right.
2517

Had similar offer for another share Think you will find they will want your bank details to transfer the money to your account. If you say please send me cheque and I'll send you certificate you'll probably not hear from them again. I didn't.

I simply told him what he was offering was surely illegal.....and funily enough, he immediately hung up on me

Let us return to reality -lf there be such a variable involved with this company - for a moment .Now it would appears there maybe yet a little trick in the tail here..Most importantly shorters are cold on AMER and the pack are kept at bay as such by Nomads activity.-lt is critical that shorters are kept on a tight leash as they hunt in packs and not isolation ( it takes one to know one as they say ....RBC and other mms seem quite at ease in mopping up stock at 11.25 / 11-75 irrespective of biggish- 500k+ sellers dominating proceedings and hence interaday movement.-but always returning to start of day spread .. .There will be a reason for their support and it will be hard copy aka good info, and not the dross we have endured . For a start we are a producer. We have no probs with casflow as cashburn is a derisory low 5k p/d !! Can you believe that ?..Five grand a day to run an oil company { which can be met by revenues}, a nice wedge in the bank,a good understanding of the permissive geology And what with a multiple back to back drilling prog ahead coupled with competitors successes in neieghbouring blocks, l am sure even RBC dont forsee several dusters on the row............ not even with with this motley crew ................ ln fact if you were new to AMER @ 11.5 youd think you had plucked a nice percentages winner from out of the ethers .....