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.

Uponthe - I'd like to move out of t'shoebox in middle of t'road.

OK BWD. I'm told Cardboard City is not so bad in the Summer months. The whole edifice is a pack of cards at the moment.

I am sure you will soon be able to do that BWD

ML. I bloody hope so. Keep on getting hit by heavy traffic heading in the wrong direction. (By the way did you know your posts are linked to danasoft spyware...)

BWD

Yeah just experimenting with it!
Nothing to worry about.

M

OK mate.

Does anyone know if the 4 mill trade was a buy or a sell?

A sell would result in sub-5p!

Well if we get sub 5p today then,we have a good idea as to why.

.and of course - the MM's might just take us there - just to make us think that - whilst accumulating shares for the good news over the next month or so!!

......and another 5.15m trade @ 6p.Mmmmmmmmm

Well guys and girls,at least its getting interesting!!!!!

HOLDING.

And the selling continues.

Can anyone blame people for selling? I still believe that this will turn out to be a winner but would be pushed to prove why I think that; and the mgt doesn't help with their lack of progress reports and dripping snippets to a couple of friendly brokers just to keep everyone mildly interested.

cape - you could buy at under 6p today, so a mixture. (I never thought we'd be back at 6p, but there you go).
s'sure - I share your frustration.

BWD - 6P now underpinned - only one traffic from the close today >>>>

The market tries to recover somewhat & yet Ameriseur does nothing.....even went down a tad earlier !! News on updates needed urgently, surely

Interesting that the large trades @ MID price continue to hide wether its buys or sells that win the day.

a lot of buys just before closing.

nite - yes, more traffic in the right direction...but price still has the brakes on. Looks promising though.