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.

Ignore him Stewart, he will go away.

M

Stew, thats because you an val are cut from the same cloth!!!

ml, have you given up talking about pigeons?? you wer beginning to sound like jack duckworth you loser!!!

Stewart, just apply the filter button.

Fliter applied, first class muppet

he cant even spell filter correctly, first class muppet!!!!

I can also vouch for stewart3250 - razmun filtered

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.

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.

sivad,
thankyou very much for youre post.

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.

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.

Sivad

Do you intend to go to AGM in June?

M

Your not after doing a stewart on him are you ml?

No

I care not for the waffle that usually is espoused on such days.I am more interested in hard facts and round positive numbers.

The last pieces of jigsaw are being brought together.
The legal representatives of Repsol in Bogota, a locally based solictors, need to meet up with Ecopetrol and John Wardle simultaneously after the Minister for Oil and energy gives his approval to the acquisition of the Repsol quota.
Repsol have agreed as has been reported in widespread articles emanating from Colombia and Spain.
It all sounds simple but the respective Lawyers involved are dragging feet and/or specific time slots with ANH are being missed. All aspects are agreed in principle and we are the major benificiary. John Wardle is making all possible efforts to bring participants together for an amicable solution to an unnecessarily drawn out arrangement.
The resolution could be anytime soon.
It is simply dependant on all parties being in Bogota, and round the same table at one time.

Uponthelowdown,thanks for that,i am getting the vino out,and promised myself not to look in again for at least a WEEK!.

Having re read all my research and spoken to the tea lady
I think May will be the Month the question is beginning or end!!!!
EVO are obviously under the cosh and they must have been showed something
pretty impressive to go along with their current stance. They
may or may not give way but it is reassuring to know
that they are confident.

M

Is there a problem here - all bar 2 MM's are showing a bid price of -1