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.

If all comes to fruition, I'd love to see the figures bandied about with regards a share price offer for a takeover bid......hopefully not for while yet tho, let them build up their portfolio even further to make it worth more when that time comes

the word on the street is that Rex H is a benign shareholder bent on building a substantial holding at extremely low prices with a target of??..well a lot more.
He has taken several companies over previously! Not quite as benign as I once thought then.

Company: Daniel Stewart

Ramp-up in Production Commences

Exceptional results from the first well of Amerisur’s campaign drives an increase in our target price.

Platanillo-3 confirms Amerisur’s seismic model and flows at 2,340 bopd from the U sand. It is now producing at a controlled rate of 1,500 bopd

Amerisur is on target to achieve its target of 5,000 bopd production by year-end ? We anticipate that the expanded development plan will see an uplift to the suggested plateau production of 5,000 bopd

We raise our target price to 51p and re-iterate our recommendation 29 June 2012 Operations Update Amerisur Resources Oil & Gas Exploration and Production AMER (FTSE AIM UK 50) Buy

Upside 52%

What’s Changed (since 26/04/12)

2012 EPS Increased from 1.8c to 2.4c

Price Target Increased from 38p to 51p

..and just for the record: RBC 60p

If anyone here has stayed the course with this share, further news (and most likely very good news) is imminent.

Also worth looking at whilst there is a temporary lull in its sp is US Oil & Gas (USOP). It was on Plus but is now on GXG (matched bargain) exchange in Denmark. News there is imminent and with only 41m shares in issue, 1100' of pay zone discovered in Nevada on its first drill and some very substantial firms engaged to exploit it, the next RNS should send this way beyond the current sp. Check it out on '3 eyes' where there is a very informed Thread. It is expected that US interest will be pick up on this when ADR's are available which the CEO has confirmed is being worked on. There are some very heady sp projections if confirmation of the field's anticipated size is confirmed or exceeded. See links below:

http://www.proactiveinvestors.com/companies/news/31319/us-oil-gas-considers-adr-to-boost-north-american-investor-appeal-31319.html


http://www.iii.co.uk/articles/42367/view-top-us-oil-and-gas

SS

Re your first sentence, you seem confident re timing and content.

blackdown, just counting the time it takes for what they are doing. ie no inside track. Newsflow on a regular basis until the end of the year looks to be a given purely because I am sure that they intend to hit their production target (hopefully exceed it!) plus oil may well become a big issue in the second half of this year.

Interesting read that USOP Sharesure, thanks. Sounds like another worth looking into. Currently heavily invested (for me) in Amer and Kmr, so cash shy at the mo sadly. However, I can't seem to find the current share price for USOP though, as it doesn't show up on iii

Pattern of late of AMER SP dipping during the day and returning to a slight overall improvement each day at the close - tells you something.

tudwick, go to http://gxgmarkets.co.uk/prices Usually the last company on the list on their prices page. It rallied today to £5.00-£5.20. If you believe what has been said of the company (I do) this has the potential to fly.

I see GC is at the Oval so no news for a day or two !!

Shows where his priorities lie. Strange how on other B/B's folk seem to get so exercised about each 1p drop (usually temporary) in the sp particularly when the volume is minute. Testing takes time and is all the better for being longer than a snapshot.

In tandem with this one still keep a watch on US Oil & Gas too. Together they make an excellent brace of near term hot prospects.

My trading outside LSE knowledge is limited - how would you go about buying into USOP which is not recognised when I search that EPIC.?

Oakapples, by ringing your broker and getting them to deal with one of the number of other brokers who have signed up to GXG. A list regularly appears on the 3 'i's B/B and less frequently on ADVFN

Thank you

Amerisur Resources
Platanillo-4 Update
RNS Number : 5152I
Amerisur Resources PLC
26 July 2012


26 July 2012

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

Platanillo-4 Update


Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce an update on the well Platanillo-4 in the Platanillo Field, Colombia, the second of a planned eight well drilling campaign.

The well has successfully reached total depth at 8,675ft measured depth, at a distance of 1,740ft from the bottom hole location of well Platanillo-3 and has been logged. The well is currently being cased and cemented in preparation for Drill Stem Testing.

The reservoir formations were encountered in line with the 3D seismic model, with the U sand package being slightly higher than prognosis. Initial analysis of the U sand interval indicates a 75ft gross oil column and 51ft net potential pay.

Additionally, logs indicate the presence of a high quality development of the N sand at this position, in line with the attribute model developed to determine the N sand distribution through the field. The reservoir sections encountered in the well are currently being studied to determine which zones will be tested, with log indications of significant oil saturations in at least 3 separate formations.

The Company expects to perform flow and pressure tests during the next two weeks, and will announce results once they have been analysed.

Following testing, completion and placing on production of Platanillo-4 the Serinco Rig D-10 will be skidded to the third drilling cellar, to drill the third well (Platanillo-5) of our current programme from the same location (Platform 9), deviating the well to an offset of approximately 1,400ft north from the bottom hole location of Platanillo-3. As previously reported, given the positive results of the wells, the Company intends to drill a total of 4 wells from Platform 9 instead of the 3 wells planned previously. The additional well, denominated Platanillo-9 (due to the order in which wells were permitted with the Ministry of Mines and Energy) will be directionally drilled to a location approximately 1,600ft west of Platanillo-3.

Amerisur Resources
Fenix Update
RNS Number : 5332I
Amerisur Resources PLC
26 July 2012


26 July 2012

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

Fenix Update


Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce an update on the Fenix contract.

The Company has entered into a Memorandum of Understanding (MOU) with PetroGranada, a private oil and gas exploration and production company focused on Colombia and Latin America. PetroGranada's British Management team has over 20 years of E&P experience in Colombia and is backed by the private equity arm of a major banking group. The MOU allows an exclusive period of two months for PetroGranada to complete technical and other Due Diligence into the Fenix contract prior to entering into definitive agreements covering an earned interest in the Fenix contract.

The Definitive Agreements, if entered into post the Due Diligence period, will require PetroGranada to fund certain operations in the Fenix block, including 2D seismic acquisition and the drilling of various types of high technology wells to confirm and exploit the block potential.

Here we go - through the 40p barrier

It all seems a continuation of good news. Not sure why others need to be brought in on Fenix unless they really are going to be worked over when it comes to agreeing the terms of any farm out. On Platinillo we need to be told what the latest projected resource size is. It looks like it could be way in excess of previous estimates.

40p breached. Leaves this open for a step revision when RBC buyers move in.