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.

Andy,that would certainley explain the state of the SP,if what you say is true.

capetown,

I was referring to a rumour that there has been a large gold find in Columbia, as oak mentioned gold in his post.

I know a few people that are confident here, so i hope both companies find what they are looking for!

GLTA

Andy,
Thx for clearing that up,will sleep better tonight!!!

have a good one!

if gold found in Columbia it is scarcely surprising that AMER is not a beneficiary!

merry christmas to you CYNIC!,
have a good one.

capetown,

Thanks, you too!

For Better or Worse I added to my shareholding on Friday.

The market is already questioning whether the new management really will succeed in its expectation of creating shareholder value. Notwithstanding managements' significant Shareholding/Option interest in so doing, it is still a perfectly fair question, even at this early stage. The market has clearly been frustrated by "timing" delays in updating shareholders on progress; currently Platanillo. However these delays can often be beyond management control when dealing with and dependent upon the actions of 3rd parties!

My hunch is that this management will succeed in extracting oil flows which will turn AMER into an exciting investment over the next couple of years. I have backed this hunch by averaging down!

Good luck to us all and here's to a prosperous 2008.

you mean by trying to catch the falling knife

Spark,have also done the same here as i did with goo,all looking good for now.

Buyers coming back,rns tommorrow would be good!!

Also backing IPL might give a double?

Good luck sharesure with IPL,Double would be most rewarding after all the ups and downs!

News should be with us next week.

Lets hope so,over a million shares purchased yesterday,only 50k sold and the sp did not shift.

From memory of yesterdays trades I think most of the "purchases" you refer to
were in fact rollovers. Hence no movement in s.p. Regards.

annie38,thanks for that,at least it explains the impotency of the sp.

Can anyone tell me how to determine if a trade is a rollover?,Thx.

capetown,

Usually a rollover will be identified as 2 trades going through for the same quantity only a few seconds apart but at a slightly different price.

So that does not indicate todays trades as being rollovers?

Capetown :Trades for 100k,250k ,and 200k have all been executed within 12/14 secs. of each other and therefore ARE almost certainly rollovers. Regards.