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.

Amer bid / offer - 13.75 / 14p ...within a few mins of mkt opening .

sources on other boards seem to indicate that there maybe news tomorrow. Who knoows !!

Yes - but what is it? What has JW been telling the Canadians?

Cant see any news in the offing that would create a price rebound-but RBC seem to have been doing a great job in mopping up shares at 11.5 and now hopefully selling them on to Canadian based clients??

Hope it's not a damp squib, or a "surprise" like last months.
Developments at Plat? New recruits?
Maybe, just maybe, mgt will have to start a new regime regarding news updates.

Meanwhile, I think this might go a little further today.

TFC

Posted on another board-what is a principal position?

Yuff: I use Pritchards as one of my brokers and I spoke to them this morning regarding the above post and they told me they never take principal positions in any stocks anymore !
I agree though that this has started to come to life again just give us a good update on things soon.

BWD-I agree L2 looks decidedly more positive and that the next move is up.

Goldman Sachs has recently written a report on Oil Explorers & Producers and has Amer as a BUY with some encouraging comments; maybe explains some of the additional buying.

Pritchards inherited the original principal position from the t/o of Wills and co...........and are adding themseves

There she goes dave-just like a big wave!

Sharesure-plse post the link from GS

tks

some nice sized AT trades going through the system ......B/o now 14.25/ 14.50 ....and going like a train .......News impending ...

http://www.mediafire.com/?5vc4vbeueq8qbv1

Yuff - can download the report from link above

Borisdog

Yuff - indeed. Surfers will tell you that good waves are not guaranteed. Best to sit out the calm, be patient and watch the horizon closely. Sometimes you can see them building up some distance away. It gives you time to get ready, choose your moment and wait for the surge. I don't always get it right but it seemed clear that pressure was building.

Well, we did try to tell 'em, didn't we?

But I must admit that 15p is a bit of a surprise!
Hope it doesn't get ahead of itself.

Yuff .... Personally l dont recall AMER on GS note .....lf unnsuccessful with other thread then try this link ...http://mediafire.com/?isbdmxxpmo6tm16

TFC, It's referred to generally on pages 10.12,14,16 & many, many more!!!! There is a company analysis on pages 114/115. The document runs to 300 pages so emailing is problematic, Yuff.

TFC and SS I downloaded from the link given to me by Borisdog.

There is huge coverage on many oil stocks.

It surprises me the give as a buy to Des and RKH.

Its amazing hw differently GS value a stock to RBCE. GS include a bit of Fenix and come in at 19.9p. RBCE exclude and come in at 29p

To be honest SS l havent given the document more than a quick perusal having merely glanced through the meat of its contents .To be equally honest i am not a great fan of broker /analyists assessments when it comes to tiny microcaps ,and those stocks with a m/c of less than 100m ... While i conceed they are pretty decent when it comes to FTSE 350 constutuients and other midcaps there is more than an element of guesswork when it comes to their compiling a note on microcaps; and indeed after having watched coverage by analyists over the years perfunctually going through the motions with a total air of indifference seemingly plucking numbers from nowhere, l would be untruthful if i said l did not place more emphasis on my own research, or my pet parrot , than their utter half baked tosh . .../......lncidentally nice to hear you have been busy snapping up Amer stock while that 11.5 -11-75 spread was in place...l had a few nibbles myself at 11.75 once i realised RBC were underscoring the s/p............

TFC - tend to agree re brokers. Obviously something is pushing this forward at last.