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.

7m sell?

Sivad - news is imminent?

I am starting to lose faith after 18 months of waiting....How much longer can the lack of news go on for investors?

Have to say it's a difficult postion to be in on this one for me also, I am averaging at about 12p, and hold a larger amount than is comfortable, (my mistake for not employing a strict stop loss), and in current market climate i would like to offload some stocks, particularly in these for example, however, you cant help wondering if selling up at the current loss would be a clever move when a few more months could see some progress and a more favourable sp...???!

Whether it proves to be true but the main source of any information on Amer in the city has always maintained that by the end of november they will issue the drilling results for Platinillo. Seems too close to give up on the stock at this point - more so because Platinillo does at least have some oil according to the last drilling 15 years ago. Whether it has a lot more and Amer gets a bigger share courtesy of a deal with Repsol - those are things we need to see.

any comments on recent trading anyone?

Nothing particularly spectacular happening. Just waiting for news.

Sell and switch to SER

Notice of holding 52 million shares!!!!!!!!!!!


LOL

M

I wonder if that explains all the large buys at mid price over the last two weeks.
Either way 6% holding demonstrates a significant boost on long awaited news,all to be revealled soon,lets hope it does not end in tears this time.

I'll drink to that.

Some fairly interesting buys today.

long time since a spread like that too

Some one is confident to buy 56K,700@8,
News PLEASE!

Just thought I'd warn you guys (I don't have any AMER shares myself currently):

From today's Moneyam Press Roundup:
"Word of imminent bad news from Amerisur Resources on production levels" - Guardian.

Hasn't affected sp

I beg to differ...

Please can someone paste the article here?

I've told you all I know, cmp. Don't have the Guardian myself, but maybe someone here does.