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.

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

Wakey wakey - long awaited news is out and it is not irrelevant!!!

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11520934

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11520935

Todays update on production and more especialy on reserves looks great.

"Further Drilling Success, Growing Potential: The company also provided
updates on the Platanillo-10 and Platanillo-1ST wells. Platanillo-10 (sixth new
well on the block) intersected 68ft net pay (in the U and T sands), drilled from
pad-5. The well should be completed and on production later this month. More
significantly, the sidetrack of Platanillo-1 (first drilled in 2007 by Ecopetrol)
encountered 22ft net pay in the U-sands. This extends the main producing
reservoir (U-sand) much farther north, derisking the northern part of the block
(to be drilled later in 2013). The Platanillo field could now be 100mmbbls+ oil
field, in line with the Victor Hugo field over the border in Ecuador. The
company intends to provide a resource update on the block mid 2013 to update
the existing 69mmbbls P50 prospective resource outlined prior to the 2012/13
drilling success."

Who said that?
I still think sp will remain steady for 3 weeks, or so, before the Annual results are published when we will see how much they made last year to 31st Dec.

See Amerisur website and Update Presentation March 2013 - 30 pages.

extract Broker's note..shhuush!

RBC raises target to 90p.
http://www.cnbc.com/id/100566244

Expect to be inundated with news in coming weeks up to AGM in early May!

That is the end of year tax people gone then.
Finals due shortly based on past issue in second week of April, traditionally.
They will be very good this time. Production figures are up to Dec 31st 2012.
A minimum 10x increase on previous year imo.
Remember Amer have significantly increased output since the turn of the year!
I'm awaiting a proposal to ship the stuff over the river into Ecuadorian pipeline, as mention in RBC 'note'. Possibly we'll have to wait until AGM for that announcement. AGM is 14th May @ 09.30 in Cardiff. One RNS will be to include the date of AGM which they have not officially announced yet, afaik.
I expect at least a couple of strong RNS' between now and the AGM!
Next week will see the knowledgeable getting back in, in anticipation of the news deluge!

Strong chance of a news release before Final Year-end Figures flagged up for 17th. I'd guess a couple of days time. P10 results.
News with the Finals also, and a strong chance of another update, next well, prior to the AGM on May 14th when there will be a further round-up report announcing completion of 10-well programme and how much in production; plus poss announcement of JV partners for Fenix and Paraguay. It will be a big AGM day..after that you are on your own; until September time when it all starts again and they tell us what they were up to over the summer.

I an hoping for news tomorrow / Thursday ahead of results next week

They are getting unpredictable with the days for sure..cept for Finals. Someone will know those figures by now, and I think I know someone who knows a man who knows a ....

If Rex wants more that is fine with me. He looks at 10x his input, and more, on past performance!

Educate me please - how do you know that the notified large, and increased, holding is "Rex" and who is he ?

As far as I know he lives in Monaco has a good investment track record. His stake would be very useful to a potential bidder when the time is right. More news to come on Amerisur very shortly in my view.

from a friend

'Our Rex is a busy guy, he took over at Maudore, is sniffing after Barkerville, and now he’s in Amerisur!'


Rex has a long and very successful track record..Look at Medusa Mining..bought at the bottom and sold, a proportion, right at very top..Not sure he is in the Oil takeover business but he may know a man who is.
Close family run business, based in Monaco, with something in Zurich, I believe
Considerably richer than what I am..Must have £75m tied up in Amerisur now.

Thanks SS and Up-etc. Rex holding makes my 25k shares look completely small fry. I have always had a strong feeling about this one since buying into Chaco some years ago. We await the 17th with confidence.

A couple of major funds await 17th, if not before for a P10 update, with even more confidence!
Rex buying in the mid-50's should indicate he knows something! He did go out to Colombia recently, with several brokers/fund managers, around the end of Feb/early March!