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.

Help please. Any more updates due?

Wait for week of 7th through to 10th Oct. CEO visiting UK. .Investec and RBC have excellent, bullısh, notes out with 70p to 100p respectively. Next year...whoo!!?

Thanks.

Would expect the Presentations to be accompanied by an RNS re Q.4 drilling dates and some updates on other activities, possibly relating to Fenix and Paraguay? Should be good for the sp.

Taiwanese reps and US Energy Secretary, Ernest Moniz, were present at new Brit Embassy opening in Paraguay on Thursday. What's going on?

A little bit of nothing??
http://www.taipeitimes.com/News/taiwan/archives/2013/09/27/2003573125

Excellent presentation

http://www.amerisurresources.com/Amerisur_Presentation_Oct2013.pdf

Hope we get a reaction to 50p+.

JW has been in Europe today. Back doing last round in UK tomorrow, Scotland perhaps, and off home to Colombia at weekend. Will we see an RNS before he goes?

Some big buying activity. Is this due to JW's rounds or is something else imminent?

A 'friend' tells me the digging of the pipeline trench on the Colombian side is 'in progress' and is now deeper than the 15.5m pipe level shown in presentation. This is to allow for the drilling beneath the river.
The pipeline will have an incline upwards into Ecuador, pumped and controlled, from the Colombian side.
JW rarely mentions anything unless he is pretty sure of the outcome.

Presentations were impressive, as always, according to another source and he is buying on behalf of clients!
JW now back at the coalface!

Doesn't seem to have helped the share price!

JW never stops preparing for the next move which is all well and good. Until they tell us about it we are, and the market is effectively, in the dark. They need the tunnel ready to go when the Ecuadorian Govt give the permissions. When is the question?

1.4+M buy and the sp goes down?

No response to the FARC news.

Soon time to update the thread header - should be by of end this week.

A lot of 'rumours' going around. JW made a quick visit to London 10-days ago to meet major investors, and elaborate on the Presentation. Assurances were well received and disseminated to clients. Next well results will confirm Platanillo is much bigger than formerly believed ie Double current credited size. In fact indications, long term, are that the Plat licence could turn out to be 'rather big indeed'!

Any idea when next well results are due? I was expecting something at the end of November.

Amer never do what is expected of them, on time. That does not mean they will not deliver what is expected! Be patient.

News tomorrow???

Might be unusual on a Friday and on day 2 of a Test Match

Agree about test match but we've had quite a few on Fridays from memory.