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.

13m traded yesterday, up 40% over the last month and not one comment, shows no pi's on board yet before the drilling campaign kicks off next 1/4

No matter what nas-something has happened to initiate a buying frenzy. Time will no doubt tell. Sooner rather than later.

Following Friday's late buys, interesting to see what price it opens at on Monday.

With our track record - expect it will be down !!

Surprising turnover these last few days?

Yes, any ideas as to who the broker might be for these large recent trades?

RBC, maybe? They don't seem to be letting the sp go ahead......for the moment? Our chairman is probably absorbed with The Ashes so probably doesn't know either.

16m. buys?

Is this thread drying up or what, come on guys what do we reckon is going on at the moment 1p dip today why?
I'm selling at over 20p for certain long term but just wondering if people think this will drop further.

15mill in buys at 1530hrs ? really, surely not.

Reported late?

No idea why it should dip. Who does? Sells outweigh buys for weeks and the price goes up. Buys (apparently) outweigh sells 16.6million v 275k and it goes down. Go figure.
My view is that we have seen hefty buys recently at 15.75-16p so surely that can only be a good thing. Admit that it's hard to tell what is a buy/sell these days.
Another drop still possible but not necessarily for the usual reasons.

same old scenario ....walking down the s/p to accomodate inst buyer/ retail broker lackies without their paying a large premium for massively exceeding NMS .( 50,000, l believe )....../ will return to normal b/o today/ monday... What with drilling prog. commencing soon this is only going one way ....and its NOT down !.{ courtesy of RBC mopping up any unwanted stock and serving dual purpose of growing the s/p whilst reducing the size of share register by up to 70 million stock in past few months- relieving smaller PI s of their holdings in favour of bigger players } Had we still had Astaires or cretins of their ilk we would be now languishing @ 7p or 8p or so .............Weather permitting .....O/T...Of course. it was inevitable that moment we embark on said aggresive high impact back to back drilling prog. that the rainy season and ensuing floods in Colombia should turn out to be the worst since records began ! .Plat in the south looks unaffected but Fenix in the MMV along the San Marta faultline is periously close to badly affected areas .... Nowt runs smoothly or comes easy for this company ............lncidentally what with not seeing any of the contributors to this thread make contributions to other threads begs the question ...Are many of you only holding this particular stock ?

Yes

yes

Tfc

Haven't got round to posting on other stocks as they are too busy on other threads and a little aggressive, rrr, rrl etc

RHEP my only other.

Never put all your egg's in one basket .......... well someone had to say it.

Tfc

Interims next week!
Not that they will be fantastic although a major improvement it might be an opportunity for an update on drilling programme.

I think the strange low permeability at Iggy 1 is most likely down to formation damage clear-up factors, so maybe a natural solution, like unusually heavy rainwater, filtering down the structure might re-set the permeability in the formation back to how it was pre-heavy barite mud.

I don't know how much water would filter through to a TD of 5,000-6,000ft?

Another possible out-come is that the rainwater could make permeability worse, if that is possible, and hold up the remedial work-or of course the rain could have no impact either way.