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.

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

can these shares go into an ISA

Not yet, but maybe next year.

thanks, blackdown.

If you have to ask patronising questions about ISA's here then you don't know a lot.
I suspect every bb where a new poster comes in and introduces himself with the ISA question.
AIM shares as afar as I know are not ISA'able..full stop.
Read the Indie today and learn something about the share.

But the good news is that there is an exception to the 'no Aim shares' rule. There are, in fact, around 69 Aim companies you can buy and place within an Isa - because their shares also trade on a recognised investment exchange somewhere else.

That usually means resources companies with shares trading in Australia or Canada

You can't put AMER in an ISA yet. Why is that a patronising question? U: that's an out of order response to a perfectly reasonable post.

Perhaps B. Perhaps? I am fed up seeing them on bb's. Not just for this share but many others. bb's are for information. Sorry but just the way I feel. One thing it does is clog up the bb with irrelevant 'helpful' responses that have nothing pertinent to say other than blah.
Ask a broker. it is simple.
I look forward to the day, soon, when we will be in the FTSE and isa'able. I would guess it may be a topic of animated conversation at the AGM, in early May!

What you need to remember here before it gets subsumed in a deluge of irrelevance is:

John W is coming to London to deliver a personal update to major shareholders this week.
It is very likely news will precede that engagement.
We have an RBC 'note' out detailing most of the pertinent points.
They mention transporting oil to Ecuador, by barge, to a pipeline there.
Fenix is one of the last fields left in Llanos not acquired on a JV footing and/or complete takeout by a US major.
President Oil, PPC, are near the end of their Seismic survey in Paraguay. Plans to drill will follow; early 2014.
Possibly we can use the 'freed up' seismic equipment for our area?
P12 new block needs to updated with drilling plans. Seismics completed there. I believe.
P1, P10 'Test' results should be complete now.
The testing of current wells is way behind promised release date.
All in All John Wardle will have rather a lot to regale major shareholders with later in the coming week!

Roll on silly season questions.

This is a nice little bb with informative posters who have good contacts. Keep it that way!

JIC it was missed elsewhere

http://www.independent.co.uk/money/spend-save/derek-pain-im-biding-my-time-before-any-amerisur-plunge-8536945.html