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.

Ss
I wouldn't be too hopeful that amer are capable of wording an RNS well, yet.
Goldman Sachs carry a lot of weight in the city it's just a shame they had to do amer's pr.
It would be great if affix for iggy was on the cards!!!!!!

But al always - an RNS will mean a drop in the SP - so perhaps best we dont get an RNS

perhaps .Who knows? One day perhaps with better technology, and a better understanding of the highly friable sands of Northern Colombia.: But no matter what work GEO do lggy will never be the well it could, and should, have been .DST indicating over 400 feet of heavily saturated sands of the most perfect API grade ...ssshheeesh .... was a potential bonanza. ......instead we end up spending months juste trying to re-enter after the mudweight episode ...That "absolute farce of a cock up is a bloody mystery all of its own!! ,,,,,Anyway then is then ; and NOW IS NOW .Forget lggy for now. ..Looks like Plat 3 which is being accorded a high COS by analyists who a matter of weeks ago had NEVER even heard of AMER is to be spudded soon yet we dont even know if we have sourced a bigger rig yet as the ones used at Fenix were only for very shallow wells.....This company needs to communicate and now coverage has been iniatiated by some of the big players out there it will be FORCED to seen to improve communications Whetether it does is another matter . ...........,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,...On a more serious note . l do apologise YUFF-. l wasnt ignoring your posting reg. Pritchards . Whoever posted suggesting Pritchards dont have principal positions is talking nonsense . l happen to know for a fact that they aquired the said principal interest in AMER when they aquired the now defunct somewhat disgraced house of "Wills and CO", Even senior staff at Pritchards such as lan Murrell, Jonathon Craier and my man are ex Wills men ...l trust that claifies matters. A Principal position . ? Quite ironically it has grown to mean a number of things . You have really opened a can of worms here..;_} But i mean it in its most literal form in so far that when one party holds stock on behalf of a third party; be it a big retail broker,struck at an agreed discounted rate with the remit to sell directly to clients without the need to go via a dealer on the floor) MM)...; or holding stock on behalf of a third party to sell via the trading floor, or holding on behalf of a another party to utilize and expoit as happens when stock is held in nominee for shorting purposes ( tradeing the shell yet still holding the core of the stock; or simply holding on behalf of a another party as an investment such as a hi value client ; or as more likely their own corporate investment. ....ln saying that i have heard many brokers use the term to mean any sizeable interest held by a house which -while considerable -does not crossthe legally disclosable 3% threshold....... l am not explaining this very well so shall quit while still sane .....

wheres my medication ?

Maybe then the company will get some 'assistance' to exploit Fenix.

TFC-its working Tks

Tfc

So that's about 27m shares then.
Seems like they have picked up a fair chunk then

I see they have taken the pics of Fenix off the front page of the website. Plat now centre stage.

BWD: Looks like they do read these boards, as someone was wishing that they would do just that, recently.

OH believe me Annie. They do indeedy. They most certainly do . . ......First rule laid down in Sun Tzo s classic "The Art of War" - ..know thine enemy and his stratagy ...ect ect ....What is gauling though is certain posters are in the employ of companies or their PR or certain MMs and paid to ramp a stock to the skies ......Anyone rememebr Paulmasterson for one who ramped SEO ? /........Hello Nas ,,,indeed RBC earning their crust ....JW must have a good story to tell .DO you know ?-..ls .Plat 3 which is believed to be an extension of the Victor Hugo field the next well to be spudded or is it the workover of the old producing well ?....Shall have to visit updated website and hopefully info there......Come to that . Do you think Amer as an entity will exist by then ? ...Having noted G/S comments and.s/p looking toppy yet no shortage of buyers at top end ----a takever/ bid / merger on the cards ?............at a nice premium ,of course :-))

They must have file on you by now " J "

"certain posters are in the employ of companies or their PR or certain MMs and paid to ramp a stock to the skies "

I asked how much Proselenes was being paid to ramp RKH, last week. And he told I was being silly ....... lol

well Roly sometimes ignorance can be bliss Dont disillusion him .

Difficult to argue against the recent recovery, although I'm not really sure why.

SP has at last shot through the downtrend resistance established in April this year, so perhaps something to look forward to for the long suffering holders. Possibly resistance at 16p from an old uptrend.

Buy tip in The Scotsman: http://business.scotsman.com/business/One-to-watch-.6622844.jp

Tfc

At the agm all the wells were to be new although that may have changed due to delays at fenix and more concentrated focus at plat.
I suspect they want to maximise income at plat to give fenix a good go before licence conditions impinge on their ability to maximise the site.

I still think the oil at Iggy 1 was "stranded", isolated by the heavy mud, and will with a bit of luck, patience and osmosis work it's way through to the main channels that lead to the well bore, a 30% chance of success (GS) say is not that bad odds, and we might end up with a impaired constant flow rate of maybe 50-100 BOPD on LTT.

Looking forward to seeing slow steady progress on the ground-share price at present giving a positive hint.

Evermore. Interesting take on things. I don't profess to understand what's going but at the agm the CEO did say that Ig was being temperamental, complex geology etc. I suppose it could spring back to life either on its own or with a little tweaking.
Meanwhile, I reckon the sp should start to move again after falling back from last week. (Up, preferably!)

this company is still very much under the radar!!

they are planning on producing 5000 barrels in 1 years time with some of the lowest costs in the oil industry($16).

they could be making a staggering $70 a barrell profit x 1,825,000 barrels per year. profits per annum of around the $128,000,000.00!!!

then they have fenix to unclog or re drill once the cash from Plat is flowing! Remember Fenix has massive potential and the exploration well has proved oil is there, management reserves estimate 300m barrels!!

then a stab in the potential 700m barrel field in Paraguay.

all debt free and fully funded!!

Oil companies take time to build as you will find looking back at Tullow and Dana!!

My advice buy now come back in 4 years time for the big rewards!!

raz-never a truer word spoken.