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.

Sivad you have the same info as me obviously, Sales day, very early next week.

cmp0325 - 07 Apr 2010 20:54 - 2000 of 2001
How can trades just vanish?

By pressing delete.

blackdown,it was Wardle who at the last institutional presentation sold the prospects of the company. Go back to the website and download the content. It took us from 12p to 20p.Impressive. Are we in for a repeat performance on Isabel?

The Amer PR is so much better in keeping us and the city up to speed.

Thanks and noted.

http://www.amerisurresources.com/100408_ASNote_Amerisur_CORP_published.pdf

Brilliant update ncfltwo - thanks - I understand that other brokers are also visiting colombia and that there are broker presentations next week.

Tomorrow should be very interesting

bh,

I suspect that we will have to wait until we get an RNS before we will see any real action.

interesting day yesterday, any comments as to why so many buys failed to move the price up, only a 1/4 on the bid?

Possibly being held for a buy entry by city boys ahead of any possible placing?

You are perheps right Yuff. Qui sait ? Recently market almost certainly put a lid on s/p when only offering piffling tranches @ offer price. What with Amer trading in "sets" -meaning corresponding buys and sells , Nas has a moot point. lt should have risen a tad more considering buying/ selling ratio. One could not be blamed for thinking someone is selling hehind the scenes. "Shares" chartist rekkie to short Amer stock wont have helped matters. That 1.5 million Sell @15.75- which dissappeared- could be "in play" and/or be part of a bigger sell yet to be announced to market .Pure specualtion . of course.. Pretty bullish myself but appreciate no-one likes being overexposed in current mkt .....Monday trading will give indicators i am sure

Oil minnows tend to find their own price depending on their success with the drillbit, But looking at the bigger picture. Anybody noticed the move in FTSE 350 from cyclicals whose growth has been staggering this past 12 nonths to more defensive stocks. Dow frightens me/ looks and feels overbought . Back to pre crash levels. ...Solid gold stock underpinning portfolio an absolute must in my opinion

blackdown, well we've got the rns but no real action, infact it seems to have left everyone speechless.
2517

Similar pattern too of Buys outdoing sells by 2 to 1 and the SP drops 5%

TFC: I would be interested to know what you think of todays news. Regards.

Nothing that was in any way inconsistent with last week's broker's report.

I feel that expectations were running high and the rns was nothing to write home about, so some profit taking took place.
2517

Profit takers yes - but let us not forget the may be more significant amount of buyers.

Annie / To be honest i am rather deflated but never surprised..How capricious and fickle we mere mortals that make up the investing community can be, ln the past i have seen small finds like this, which most importantly establish the existance of a petroleum system in play, become company makers. Anyone recall Emerald energy-quite ironically also operating in Columbia? And what was thier first strike ? Yes you guessed it -180bpdoe . As regards Amer s/p . While day traders muddy the waters , and a few quite rightly exploited the oppertunity of crystalizing profitl feel for the most part the expectations of many pi's were simply not met which begs the bigger question of what were their expectations? . What did they expect ? The moon on a stick ? Or perhaps a "jubilee" style strike spewing out 100,000 bpdoe of sweetest crude. l agree with B/D-Todays RNS was in line with what surely was the consensus of half sane opinion and anticipated . and at the end of the day AMER FOUND oil ! and can bank between 600k and 2 million dollara p/a .Small potatoes i appreciate-but to look at some of the sells one would think AMER had followed in true Chaco tradition and toally screwed up bringing in 2 dusters. .l feel they will regret selling at what i feel is the pre rns pychollogical support level of 15.75 but you pays your money and ect ect ,,,,,,, On a more positive note .The depth of the successful strike was at a level classed as very shallow showing a series of wells can be spudded and drilled rapidy in this prospect .............To be honest it is the prospects Wardle brings to the table that ultimately brought me into this stock, and ill wait until news of that becomes known before taking any action That and the fact that the existance of the Cusiana field in the llanloss foothills in Columbia which happens to be the 5th biggest producer of crude in the world ........and how could all of Columbias neighbors be either in OPEC or swing producers and yet Columbia devoid of oil . l think not..............................................................................Do please feel free to tell me how delluded i am...You wont be the first nor the last

TFC: Thanks for sharing your thoughts......a riveting read, as ever ! Bonne chance a nous tous.

The answer maybe from yon side. Small piece in the FT today re concerns over whether AMER will seek to raise additional equity to fund an accelerated drill programme.