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.

The Berlusconi effect eh? Not affected Amer too much. The US gets a cold eh and we get pnuetumayo.

Investec, Oriel, RBC, Marlborough plus various analysts just returned from a flying visit to Bog; guests of aforesaid co. They did not go to Put! The 'Note', from RBC, I believe, is a result of what was heard. I expect an 'official' update soon. The visitors are very pleased with what they heard, allegedly

Positive RBC note out!

Where?

Only the in-crowd have seen it. Cannot C&P. Good stuff. All you would want to hear. A little ooo imo giving the big-timers a head's up before the minions!

If you have an email??

Up..., I would be grateful for a copy. Are you able to email it via moneyam contact list?

I sent one to you at address I have. Is it still the same? @onetel.com?

Thanks; unfortunately I had to change that one - I received too much spam on it! The one I use for share info is sharesure@talktalk.net
Look forward to hearing what they say. I am not surprised that it is positive although the turnover so far is not that great. Maybe when the US and Canada open that will change.

sent..

Interims are only a month away based on last year's date 10th April, a Tuesday. Tuesday is the 9th this year!
Surprised no news on P10, P1 et al today.

Buy before 20th..Thurs before tbs!

Dbl emphasis.

Being a bit slow this morning - Dbl????

Double?

Possibly "diabolo" (on the way up).

Just a double post. Then again?
Anyone up for lunch at Investec's invitation in two weeks time?

Could be as long as it is not the 22nd

Can you get me an invitation please ?

I think you may be out celebrating on the 22nd anyway. Certainly you will be in better spirits.
The lunch sounds like it is for clients only! Who will attend is the question, as guest of honour!?

I've asked but no reply. Maybe the day before after the RNS is out? You never know.

It would be brilliant to meet up with JW but I sense some major suits major present and..and it's a secret anyway.
NZ Test this Thurs so uhhmm GC might be busy?
Following week more likely as he have some free time to do the conference calls at the end of play. JW will handle the PR stuff this end.
I note Investec sponsoring UK tests..not sure who is doing NZ end. Mutual back-scarthing here amongst the great and good in the Pavilion?

Thu 14 - Mon 18
21:30 GMT, 10:30 local New Zealand v England
2nd Test - New Zealand vs England
Westpac Stadium, Wellington
Fri 22 - Tue 26
21:30 GMT, 10:30 local New Zealand v England
3rd Test - New Zealand vs England
Eden Park, Auckland