Sharesure
- 30 Jun 2007 18:48
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.
capetown
- 09 Apr 2008 13:41
- 690 of 3289
Thx blackdown,
A very tight spread indeed then.
sivad
- 09 Apr 2008 16:27
- 691 of 3289
Sharesure
I would not be a seller of this stock this week,next week or any week,until full news is released giving us the update on the potentail reserves this company clearly has now and will have an awful lot more once news of the % shareholding is released.
I am unable to fathom why it has taken so long when my contacts indicated to me 2 weeks ago that all was done and dusted-to coin a phrase.
EVO are clearly under instruction to keep a bottom price in place at 5.75.
You have to ask yourself why as these people do not normally accumulate stock unless they see a quick return.
HOLD
stewart3250
- 09 Apr 2008 17:11
- 692 of 3289
sivad,
many thanks for your post.
Is it ok to post it on the other board
bhunt1910
- 10 Apr 2008 07:39
- 693 of 3289
No news - oh well back to bed foe me
sivad
- 10 Apr 2008 09:22
- 694 of 3289
As you wish 3250
stewart3250
- 10 Apr 2008 10:51
- 695 of 3289
sivad,
many thanks I have posted your comments, if you would like to communicate off board then I have left my email below and indeed if anyone else would like to do so please get in touch.
I seem to remember sivad you don't communicate direct however I will leave it up to you I can let you have details of other large holders who would confirm I am genuine and not some strange individual !!
For the record I hold a considerable quantity of Amer shares and I will not be selling, EVO are high on the bid for a reason
simstew@btinternet.com
DYOR, IMHO.
razmun
- 10 Apr 2008 11:47
- 696 of 3289
stewart3250 is a strange stalking human being!! befriending un suspecting investors and trying to get his wicked way just ask valentine on the other board!!!
stewart3250
- 10 Apr 2008 12:25
- 697 of 3289
razmun,
What utter rubbish, by all means ask Valentine, I have met him and he no problem with me what so ever
Moneylender
- 10 Apr 2008 12:45
- 698 of 3289
Ignore him Stewart, he will go away.
M
razmun
- 10 Apr 2008 13:18
- 699 of 3289
Stew, thats because you an val are cut from the same cloth!!!
razmun
- 10 Apr 2008 13:55
- 700 of 3289
ml, have you given up talking about pigeons?? you wer beginning to sound like jack duckworth you loser!!!
Sharesure
- 10 Apr 2008 16:06
- 701 of 3289
Stewart, just apply the filter button.
stewart3250
- 10 Apr 2008 16:12
- 702 of 3289
Fliter applied, first class muppet
razmun
- 10 Apr 2008 16:27
- 703 of 3289
he cant even spell filter correctly, first class muppet!!!!
bhunt1910
- 10 Apr 2008 17:48
- 704 of 3289
I can also vouch for stewart3250 - razmun filtered
capetown
- 10 Apr 2008 18:49
- 705 of 3289
sivad,
could it be that if evo are under instruction to peg the price at 5.75,that there may well be a placing included in the hopefully soon to be released good news.
sivad
- 11 Apr 2008 13:39
- 706 of 3289
CT
I doubt that with a 15m warhorse at the disposal of the directors.What with the recent placing GC is not that naieve to think he can just go cap in hand and ask for more capital.There are other ways to raise the necessary cash needed.
EVO continue to absorb any stock available and this to me is a clear sign of very good news.EVO after all have a closer ear to tha action than any other market maker.
Time will tell.
I and others around me continue to aquire stock at the right price.
capetown
- 11 Apr 2008 13:49
- 707 of 3289
sivad,
thankyou very much for youre post.
Sharesure
- 11 Apr 2008 14:00
- 708 of 3289
Capetown, I know I said that I thought it would be a mistake to sell this week - maybe I should have added and for the forseable future since we seem to be on Sth. American timescales. I am convinced that what will end up being announced on a number of fronts will be very good when it is announced but at the current time it is not possible to predict when. No doubt there will be the usual extra volume in the run up to news.
Sharesure
- 11 Apr 2008 14:00
- 709 of 3289
Capetown, I know I said that I thought it would be a mistake to sell this week - maybe I should have added and for the forseable future since we seem to be on Sth. American timescales. I am convinced that what will end up being announced on a number of fronts will be very good when it is announced but at the current time it is not possible to predict when. No doubt there will be the usual extra volume in the run up to news.