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.

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

bhunt
you trying to give me a heartattack!?

L2 is currently 1:5
2 have gone red, I think its a Moneyam prob

M

capetown - apologies mate - it appears to be a moneyam problem - or at least one of their suppliers - gave me a bit of a turn too.

The wait is painfull.Cheers bhunt910

Any Oil experts here.
How long does Testing normally take?
It has been suggested to me that it
normally takes up to 6 Months, can any one
confirm or comment on that.

M

The large trades 450-350k are delayed and although appear to be shown as sells they are indeed buys.

I feel the wait is nearly over and that the news we are all hoping for will drive the price forward.

A positve spin on events will be the order of the day just as it has been seen in EME.

Williams De Broe update,
I saw this on another site,
Lack of news has left amer trading in a narrow range,
16 million in the bank+modest revenue from current production,
SP does not reflect Platanilo alone,let alone potential fenix and paraguay.
We all know this but good to have W.D.B on the case too,they also expect news by 31st march.

Apologies re last line,
They expect news soon following end of financial year 31st march.

Much improved volume,
Looks like the long awaited news is coming.

Radio 4 profile on Giles Clark, Sat/Sunday I think, mentioned Majestic, Pets and his love of cricket. but not AMER. Strange programme, a few comments from his sister and other people who did not know him well, with just one brief interview with him. Pretty pointless really - no inside info or side lights on his character. But presented him as a no nonsense go out there and get it sort of chap who does not suffer fools, which I guess suits us.

The buying has started,and looks like we are on the move at last!

ct-----Yes, up 6%ish atm.
2517

climbing nicely..hope it continues in the same direction
watcher

I have made slight updates to the header but have not adjusted the 'rule of thumb' effect in sp for every 1mb of oil. At the current price - if it is maintained - this company should travel far and fast.

From today's Daily Express:

'Vague talk of a tie-up between Amerisur Resources and Repsol'.

Make of it what you will.

From today's Daily Express:

'Vague talk of a tie-up between Amerisur Resources and Repsol'.

Make of it what you will.

B.D. Can I have that in triplicate please !