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.

bwd: Yes, i think that they have been buying steadily. Not surprising as RBC have this in their top 20 performing shares for 2012. Hope that they are right. I bought a few more on Monday which didn't immediately look too good a move by Monday afternoon but it has since.

Yes, definitely a good decision! Another 14 per cent up... and before breakfast time in Toronto.

Plus some decent volume for a change.

Its like we are the last to know whats going on and never seem to kn
ow why the share price has dramatically moved in ANY direction.

Thought GC looked particularly smug in Abu Dhabi considering the cricket - may be with good reason.

Decent rise today albeit on low volume.
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This looks set to travel much higher as testing continues and then spudding in March (which begins tomorrow!) Although 12 months behind where the company implied they would be at the beginning of last year this now looks a very decent prospect. At last!!!!!

I'm pleased to see that Sharesure is so positive about these.

The recent report looks very promising indeed, I am astonished these are not 50 pence plus.

Even then I consider them extremely good value considering the potential upside offered.

At the risk of putting the mockers on it-----these are doing well today.
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Noted and on Friday 13th too boot - always a lucky day for me personally

Today's RNS looks to be just what the BoD was hoping for (and more!). At last the target of 5000 b/day looks like it may well be attainable.

I'm sure it is SS. But we could have done with some meat on the bones rather than that minimalist announcement.

Amerisur Resources PLC

06 June 2012

6 June 2012

Amerisur Resources Plc ("Amerisur" or the "Company")

Platanillo-3 Update

-- The Platanillo-3 well encountered an interval of 85ft gross, 52ft net pay in the U sands of the Villeta formation

-- Platanillo-3 flowed 30.4[deg]API oil with trace water at 2,340 BOPD in natural flow

-- The Company plans to skid the Serinco Rig D-10 and drill the second well of the current programme from the same location (Platform 9), deviating the well to an offset of approximately 600m south of Platanillo-3.

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce an update on the well Platanillo-3 in the Platanillo Field, Colombia, the first of a planned six well drilling campaign.

After analysis of the electric logs the Company has estimated that the Platanillo-3 well encountered an interval of 85ft gross, 52ft net pay in the U sands of the Villeta formation. Two additional zones within the Villeta may also contain potential pay and are under evaluation.

The Company perforated the upper 26ft of indicated net pay using a Drill Stem Testing assembly. Over a flow period of 24 hours the interval produced in natural flow at a final stabilised rate of approximately 2,340 BOPD of 30.4[deg] API oil with trace water, while choked back and with wellhead pressure of approximately 44 psi.

The well has now been closed in to perform a pressure build up (PBU) test, in order to acquire pertinent reservoir pressure information. Once the PBU is completed the Company plans to install a permanent completion string and commence commercial production from the well. Given the high productivity of the well, Amerisur is evaluating completion options to maximise efficiency, including the installation of a downhole electrical pumping system.

With these excellent results from Platanillo-3 the Company plans to skid the Serinco Rig D-10 and drill the second well of the current programme from the same location (Platform 9), deviating the well to an offset of approximately 600m south of Platanillo-3.

John Wardle, Amerisur Chief Executive commented: "This is an impressive result which underlines the potential of the Platanillo field. Our objective now is to push forward with the next wells, optimising their costs and operational efficiency to deliver our production targets this year."

Giles Clarke, Chairman of Amerisur said: "I would like to congratulate our CEO John Wardle and all staff and contractors who have been working under extremely arduous conditions. The geological analysis performed by Dr Wardle and his colleagues has been fully vindicated. The Board looks forward to more exciting developments of this field."

The meat on the bones.

Indeed blackdown. Now that's what I call an RNS.

Great news.Once the limit positions have been cleared out this should go much better still. I would expect an updated resource statement in the next couple of weeks and that this will show a huge improvement on the current figure.

This rise in sp looks like the news on flow rates is imminent and that it will be good.

Agreed - lets hope so we have waited patiently for some years

......been a long time coming for some of us

That's a disappointing end to the day after being up 4.5p earlier.
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