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.

That is what I call negative comment - I too could be wrong.

Or is there more news imminently?

Read the rns.
2517

So Peel Hunt was successful in driving the price down to fill an order?? What next?

Fenix RNS?

They really are taking the piss now!

JW ain't tekkindapiss..for sure. Heel Punt may have and looks very suss what they and Evening Stannit did..very suss. First week of Feb, latest!

Good news on fenix and more importantly pipeline tax-free to Ecuador..and maybe indication of what is what in Paraguay!

Fenix is said to be "low risk". Is that the same as high chance of success? Or is there a subtle technical difference?

What should I make of trading in the last hour or so - which has been a multitude of very small holdings of 50 to 60 shares ?

AMER is turning quite active now with a bias to the downside, but news not far off now.
2517

Same trading pattern as last Friday with lots of small sells taking the price down. Always seems to happen before good news. How do they get away with it?

3.77M buy and the price still goes down! These guys are doing an outstanding job for someone, especially as they've already managed to force the price down from 65p in the last week.

Last weekend I received another call (the previous one being a couple of years ago) asking me if I would like to sell all of my Amerisur stock at higher price than I would get in the market. I didn't want to get embroiled by asking how much more. Sounded American but who knows. Has anyone else had a similar call recently? And, no, I am not selling, least of all to a cold caller and not at anything like the current depressed sp. This still can be the 'Cairn of South America' a tag I gave it about 10 years ago on this thread; possibly a touch awry on the timing since I hadn't reckoned on so much phaffing around by the previous BoD but still reckon that this has a lot, lot more legs yet.
If it is any consolation after the last time I received a similar call asking if I would sell, the stock went up quite considerably over the next few months. I wouldn't be surprised if there isn't a repeat performance this time provided we hear some news that the pipeline is due to come on stream in the next couple of months. That might be optimistic unless Amerisur's EIS has been rushed through the Colombian approval process.

''I hope to be able to give an update on the Ecuador export option early in the New Year."
Looks like I took the above comment from JW too literally believing it would be announced this month. The sp sliding from 65p is a bit annoying but hanging on tight to mine. No cold callers.
2517

Not had any cold calls recently, but had a couple about 18 months ago.....

https://www.gov.uk/government/news/nick-clegg-brings-business-delegation-to-latin-america

http://www.youtube.com/watch?v=3avFFQhkKhM

John W doing more cities than before with his personal presentation. several members of the team are accompanying him. London covered now. Paris today, and NY are last on list. NY Monday? and then back to Bogota.

Why nothing on here since 7 Mar or have I missed something that answers the silence - RNS have been positive - I thought

Be patient. The real news on developments in Paraguay, possible farm-in or partner, or buy some area outright. The dates for the pipeline to Ecuador should be the talk of the AGM in 10 days time.
Remember they have an area larger than the home counties..someone said as big as Wales down there. Whatever, it is far too much for Amerisur to handle alone. BP and BG keep being mentioned in despatches. TLW were interested at some stage also. Paraguay is 'hot' now and they should be lining up to get involved.