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.)

b>



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.

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.

Lower down the market, mining minnow Bezant Resources added 5.5p to 90.5p; it benefited from news that 20% of a neighbouring project had been sold for 35m, more than Bezant's entire market capitalisation. But manufacturing group Acertec dropped 32.25p to 53.25p after it warned trading profits seemed to have been overstated for at least three years. Finally, oil and gas business Amerisur Resources fell 0.125p to 7.625p as word went round the market that there may be imminent bad news on production levels.

Since when was the Guardian the best source of financial news? - maybe someone has an agenda for trying to shake out some shares to get them in bulk and more cheaply. Whatever, we are unlikely to be that far away from news.

sHARESURE
I am continuing to hold.

I'm amazed that a brief comment such as this causes so many sells!

How many times has this sp risen on a rumour only to fall back when it turns out to be just that, the same may well be happening in reverse here, hopefully. Still holding mine.
2517

It's just following the ages old stock market adage: buy on the rumours, sell on the facts.

Hope not!

when a respectable paper rumours then i'll listen

Set your clock for an early rise.