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.

I hear the milestone is well passed. 2000blspd from 3 wells being trucked out
over the recent months. 27 % profit to amer

Nite: interesting ... but 3 wells? Anything more you can say?

We dont have 3 wells with oil in them!!!!


M

just to prove my point that we do not know what we have, the following is from the Company:

Plat1 the first new well in a 2 well programme, has been drilled to a
total depth of 8,390ft. The reservoir section was encountered 55ft deeper at the
Platanillo-1 location which is located approximately 2,200m from Alea-1, and
analysis of electric logs indicates that the well might be close to the
transition zone between the oil and WATER columns of the Field.
The well has therefore been temporarily plugged

Plat 2 That test initially produced crude oil atup to 33.4 degrees API at rates up to 430 barrels of oil per day (BOPD) through
a 22/64' choke, after which an increased WATER cut up to 70% was observed in the
oil flow. The reasons for the increase are currently under review.

Up to 70% WATER is rubbish, that why we are still at 8p
why cant you guys understand this?

M

ML,

When you say 'we are still at 8p', presumably you are a shareholder. If so, why do you delight in slagging this share off on this board and elswhere?

blackdown,

You are correct about moneylender he is a constant pain in the neck, he uses every opportunity to put down Amerisur, some comments are subtle but most usually say there will be delays or comments such as no Repsol deal, small amounts of oil, price will be going down, no real chance of success or words to that effect, blah, blah, blah.

I wasn't too bothered initially and in fact he can be quite helpful at times with other matters however I have reached the end of the road with him, it may be a joke to him but personally to be pleased at the demise of peoples savings and in some cases huge sums annoys me in the extreme.

A significant number of people are pissed off with you moneylender and I am one of them, not bothered whether valentine at times makes out you are ok or not, I am fed up of your attitude, if you hold the stock you should start supporting it and in particular show the other holders some respect, if not why don't you just sod off, if you are at the AGM I would guess you will not be very popular, not with me anyway, so either change your attitude or evaporate.

I will post this on the other board and don't want a debate but it's time people realised what a complete pain you are.

hi guys, just finished doing a complete
re install on PC. I can see you all missed me including Stewart!!!
Ace said something constructive. Its not my fault if your
investment is not to your likeing, maybe if you did a little more research
you might have better luck, who knows.

see you at the AGM then, all of you!

LOL

M

stewart-it really is best to just ignore those whose banter is little more than jest.

I for one am absolutely convinced that this person is on a one man crusade to let peolple know just how disatisfied he is at the lack of news.
He just does it in a way which is different to most sensible people.

I am sure he means no harm.

Market forces dictate,even ahead of news.A little bit of selling marks a retreat for 3 mm's.
This is the way it is.

Be patient.

Sorry to be lazy but can you please let me know where and when AGM is? Thanks in advance

honk123 - AGM is on the 29th July, I presume it will be at the same place as last yr - The St Mellons Hotel, Castleton, Cardiff, CF3 2XR

We all know news is imminent,looking at todays start could be a leak as buyers are back!

Don't say we are going to have some sp movement at last!

WE DO!,enjoy the blue!

Reasonable volume as well.

blue is certainly making me feel less blue ...

comforting movement today........see if it continues till news flow starts

Well not long to go now and it is encouraging to see that some fairly largish buys are going through from perhaps others who see the future is bright.
AMER has held up pretty well with an overall 1p -ok only 1p but it will be more soon I am sure-without the normal driftback.
I would ignore the WINS/SCAP moves as those to firms as a rule tend to move on the slightest buy/sell.

I hear the news that will really make people wake up and smell the coffee will be in the lead up to the AGM and that this relates to Fenix acreage.

Well not long to go now and it is encouraging to see that some fairly largish buys are going through from perhaps others who see the future is bright.
AMER has held up pretty well with an overall 1p -ok only 1p but it will be more soon I am sure-without the normal driftback.
I would ignore the WINS/SCAP moves as those to firms as a rule tend to move on the slightest buy/sell.

I hear the news that will really make people wake up and smell the coffee will be in the lead up to the AGM and that this relates to Fenix acreage.

Yes sivad. Hope you are right. Very interested to see what they have to say about Alea/Plat also. I would expect news on a third drill amongst other matters.

With regard to Plat/Alea one would assume the quality of the sweet crude being tested may wll show to be above average for the area.
We will see.
Again,encouraging to see fairly largish buying occuring this morning.