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.

The Repsol deal is NOT done!!!!

It may be close to finalisation but it has been like that for 12 Months now,
so dont hold your breath. The next news we get and I understand it to be on the day
of the AGM will be confirming operator status and recommencment of production
from Alea field. We may well get some info on future plans that will be juicy
but thats all in the future.

M

M/L that is contrary to what a few 'City' folk have been saying, in particular ones who might reasonably be expected to be reliable. The company might cite commercial sensitivity as a reason for holding back on an RNS and that may be true. I am curious as to how you feel that you know so much with such certainty?

SS, I have been right over the last 6 Months re any news so I dont think I am wrong over the next 6 days. We shall all know next week or maybe Tues week.

M

sivad,

Not seen you post of late, be interested on yout current take on the situation, share price and potential.

ML is only interested in being 'right'. Personally, I couldn't give a t**s whether he is right or wrong. Having flogged the other site to death, he is determined to try and do the same here.

Fortunately, most of the posts here are interesting. One of the downsides of democracy is having to put up with ML's egotistical outpourings.

Ultimately, the truth will out and ML's opinions will be consigned to where they belong: the composting bin. Well only if they are organic and recyclable.

Blackdown, when investing its best to be right more than your wrong!!!

M

lets be honest ML, it is easier to predict no news than it is to predict when news will arrive is it not? Based on probability and the fact that this company very rarely delivers news on time or on a regular basis, then the odds were weighted heavily in your favour over the past 6 months.

When we do get news, it has been hyped up so much that people have bought in anticipation and sell once it arrives, if it does not meet the wild expectations. That is one of the problems we have. I think we should avoid raising expectations despite the clear potential of all our acreage, when news does arrive then maybe a surprise or two will emerge and propel the share price? Here's hoping for a good week, we have waited long enough, but 6p support looks likely and RSI indicates we have been well oversold.

Good luck all

Hello Stewart-still here watching,waiting and continuing to buy.My colleagues feel they know who is buying today-on this I will not say more other than it is a good sign and these gentlemen rarely make mistakes.I am led to believe further lareg trades will appear prior to the AGM next week.

Volume and price picking up nicely.

sivad - no large trades to report today. Looked like a few punters got out on the first sign of weakness on Level 2. Strange decisions, I had no doubts there will be some shaking by the MM's on the way up. I see no reason why we cant reach the levels from previous weeks over the next month. Hope you think the same....

What about getting back to between 12-18p, it's about time for that surely!

I believe that we will be 20p + by September.

The ANH meeting today might have a bearing on how this responds tomorrow or early next week.

That surely depends if the outcome of the meeting is released to the public immediately.....and going by the past few years, that's highly doubtful unfortunately, but here's hoping anyway, if it's good news.

SS,

what makes you think there was an ANH meeting today?
I always thought the meetings were the last Thurs of
the Month.

Blackdown, here's hoping you get the price right then!!!!

M

ML I thought the AGM date was selected with that in mind? I realise that next Thursday is the last one in July. The ANH are reputed to control newsflow release dates (quite why they should wish to be so controlling isn't clear to me) and to penalise those who jump the gun quite heavily. There are quite a few issues surrounding this stock where I think the Board owes its shareholders an explanation - not least why so much 'information' seems to be generally known, or rumoured to be known, but not published. It is time they were open with all of their shareholders.

completely agree SS, I think they will be shocked at the level of discontent amongst shareholders at the AGM. I wish I was there to see it. Will anybody be doing an AGM report?

SS, if it was then its news to me. i am still confident we will
get a good OU on tues morning, but maybe all those that
are looking for an instant hit/rerating will be very disappointed.
I have been preaching for a long time now that your RTSpecs
are too heavily tinted. Having said that I know there
are some exciting things going on if the rumours are correct,
so potential to the upside is still a poss.

Robbie, I will get a report on here ASAP, I live about 100 yds from HQ
but I have promissed a few to take them on a tour of the City
and let them ply me with alcohol for my troubles!!!

M

ML I don't think that I do have any RT specs on this one now; as far as I am concerned I am taking nothing at face value until it is reported. For as long as my interests are aligned with the mgt of the company then I suspect that I can relax; the day they aren't then it would very much be time to move on. They have much to prove in my view.

Good stuff, cheers ML, looking forward to reading your slurred report:)