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.

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.

...Nas . well one would hope - as a matter of priority-they would use this oppertunity to outline chosen drilling sites and schedule reg Plat .....Once such informations are placed in the public domain we can the make an educated judgement on matters ........ln addition we will be hopefully be updated on state of play at Fenix and flow rates at Alea and so forth ....,,,reserves ect ect

Tfc

Yes it could be enlightening times ahead for amer!!!
I still don't get how we can be half the Market cap of DES with all our potential as no doubt fenix will be sorted in due course. Also I believe fenix is a bigger find than RKH's recent success and we all know what that did to their sp.
Tfc

Have you looked into rrr at all?

rrr I am in there Nas. Good RNS today,

i love rrr made me a fortune bought in at 6p sold recently and now in 3 stocks equally amer, rrr and rem(formally zest).
made mine and my wifes CG Tax allowance for this year , won't be selling until after April now earliest.

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much anticipated interims due Roly, Nas Yuff et al on 17th ....and judging by the relatively strong buying volume/ pressure it would appear some decent news is on the horizon .........

TFC: They're out tomorrow, the 16th, I believe.

TFC BWD is correct 16th really hoping that current trading indicates more than just results. It will be a first for AMER if the price rises and holds on an RNS.

tfc

its long overdue.
perhaps when rbc have filled their boots they might miraculously sort fenix out!!!!!!!!!!!!!!!!!

na-daq-I reckon tomorrow will contain updates on Fix which may very well be positive based on volume recently. Its not based on what we are producing on a daily basis as this was updated recently. Can only think it is seismic update,drill dates with rigs hire etc.

Not long to wait.

Rien ne va plus-a nice close.Good luck all.

Call me a cynic if you like - but the sp will drop tomorrow - it always does with this share

Oh you are such a cynic bhunt :- )) Well you did ask; but in all probability correct yet possibly not ...:-) ...Covered all my bases theres Mr.B. ;-)............. lnterims something of a mixed bag ....No news on Fenix as yet ; but when compared to the same corresponding period of 2009, revenues from oil produced are up from a loss of 467,000 to a profit of 2,382 million ,gross profit up from a loss of 340,000 to a profit of 2.362 million and operating profit up to 1,23 million from a loss of 1.1 million ...........Based on the number crunching and the simple fact that we are about to embark on an aggresive drilling prog very soon l cant see s/p going into a nose spin -- au contraire mon pote ..........

Off topic J , What's your view on CEY now ?

have reduced a tad since high of 200p level as was becoming very overweight on gold stock which acts as a reserve currency ....But cant deny it is in a slow downward trend which i fail to understand as last RNS stipulated that the company will meet mkt expectations/and also i thought recent placing would underpin s/p at 166p/170 level . And what with gold price at all time highs of late l am at a loss to explain such a high percentile drop from 200p highs .....l think the city awaits to see what they spend the said proceeds from placing on Roly ......KYS would make an ideal target as would NYO or another junior gold play as CEY could be construed as something of a one trick pony as it currently stands ..... Will expand on comments after unpacking and had some breakfast ..../ currently jetlagged to the point of falling asleep in my chair ...lts six o clock here and already 22 degrees .....................................................................................................................Reg -AMER ...Price holding steady despite selling pressure . Could be a big order being filled. lncidentally many of those sells are simple rollovers or indeed some savvy investors collecting on the bid - and as such are BUYS !!!

Ok J. Is the gun crime rate still rising out there ?

if you cant afford a gun its suphuric acid in the face .......l am a few miles from POS..........WHITES only ( due to price of houses )

Bit like South Africa , BTW a very good RNS from PAL today.