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.

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.

whats your prediction uotld

or monday, 26/11?

There is a fair bit of topping up going on, with these bad rumours circulating!!??!!

Best to ignore them.

I can't help feeling that there are a lot of unrealistic expectations re the potential for making money out of this stock.

Whilst I am a long term holder (since GMS days), I don't believe that the capacity is here for more than 50p/share tops, even with Paraguay, and that the timetable for this is at least 12 months away.

Dancing in the streets time if we reach 50p!

blanche ..... stick to IEC ..... immeasurably better chance of joy there than here

No RNS today. I was slightly disappointed earlier. Having made a few enquiries my mind is at rest. I understand a few more figures are being compiled and will be presented in a larger overview of Amer's potential now which will include Fenix Seismics, and possibly other licences.
Guardian's comments are a misinterpretation and misunderstanding of something insignificant in the scheme of things. Probably that Amer had deferred the release of an update due to a small logistical problem caused by a partner in the current venture. Good news will be revealed shortly and the Guardian will be a bad memory. I hope no one sold yesterday as a consequence! Be patient. This is the oil business remember and it does not always happen exactly to schedule.

or does not happen at all ..... old but true adage in the city is that bad figures take far longer to add up than good ..... it seems to me that you are guessing the contents of this alleged rns even more than the Guardian, who may actually have some sort of inside line

Upon
I hope the update comes next week as people have had a long wait.

News next week? Good a chance as any. The 30 days from last RNS will have passed, so it is due.
Plat-2 will have been drilled. Flow test of Alea-1 should have been completed. What does 'extended testing' mean in terms of time? Plat-2 will have another 2-weeks flow-testing on top, assuming we hit oil in upper and lower sands. I'm confident we will.
We know several things but unfortunately, from experience, the Oil biz is a capricious entity and not entirely dependable to deliver on time.
I would say a strong possible maybe before next Friday!.

on that basis, i would say there is a strong possibility of disappointment

Oh OK..If you are all here between 23.55 and 00.00 Sunday night I will reveal the exact time and numbers involved. That is after I have won the lottery Jackpot tomorrow. I will reveal the winning numbers of tomorrow's lottery for the next two minutes from now...(edit)

Did you get them? Hope so.

Getting up early for a few mornings won't hurt anyone.

someone looks to be confident, lets hope the news is filtering through

Lets hope thats 200 for uncle amer,200 for aunti i and 200 for cousin sur,and that insider knowledge is alive and kicking.