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.

What about selling now and buying back when we get the new's we are waiting for.

i have taken my seat and getting ready for the action!!

ald-you sold too early and bought back higher-trading does not always work and with Amer it is downright dangerous.

I sold and banked some profit and reduced my holding to reduce the risk as I was overweight with these because of all the talk of how massive under valued they were. I banked profit way back when they were 19p + then went overweight with them ,am now holding an amount that am happy with. And waiting for them to become downright dangerous.

Q1 Aldi !!!!!!!

Due for another move soon, I reckon.

any one else having problems seeing the orders on level 2 ??

I don't have it Bas. I rely on you to tell me what's going on!

Nothing showing on L 2

Tfc

Any views on the 4m shares on offer on mon that suddenly disappeared?

sorry nas l havent a clue . lf i didnt know better i would suggest this stock is being "walked up" anyway ...ahem But without ANY doubt in my mind i believe there are so many variables in play at this company which smack of "all men are equal but some are more equal than others" when it comes to sharing informations,, l mean sshheeeesssh albeit the weather does play a critical role when drilling in a place like Colombia ,and as such warranted an RNS but not without simple news of issues like have we even yet sourced suitable rigs for soon to be drilling at PLAT 3 .........But who cares when s/p goes up to a b/o of 15.50/ 15.75 .lts only when s/p goes down we complain of a dearth of info. ....We are so fickle. ,,,,.....But as regards 4m vanishing holding; whosever pocket in which they ended it wasnt the first time "trades" have simply vanished .../ ,,,,,,,,,,,,,,,,,,,,Also bear in mind a lot of both Brit and esp. Canadian as well as Australian and South African general brokers touting AMER at the moment {lt seems article in FT about resource/commodity export dominated economies as are both Cananda and Oz place a far greater emphamis and hence price on that individual sector than do we in Europe.} .Had a few calls myself from brokers i dont use very often recemly reckkying Amer canr......Shorters are STILL very cold on AMER . No notifications of discloseable positions so RBC, and fellow mms, obviously passing thm on to individual holders which to my way of thinking is good. .A number of BUYS catagorised as SELLS passing through the system. SELLS immediately mopped up by RBC ,,,,cant beat it ......But at the end of the day comes the reckoning and its all the drillbit ..... its all in the drillbit ...so come on AMER -pull the coorperate finger out and keep us informed on that which is so simple and basic yet essential info ...........pur et simple !!! .... .or perhaps best for us all and a bid ....,,,,,,,,,,

Fwiw I think the order was there to spook a few sellers as very quickly that day the bid dropped to 14p as soon as a few sellers were outer the price went straight back to 15 or higher.
IMO it's a favourable sign that news is coming if they need to manipulate L2 to look weak!!!!!!

13m traded yesterday, up 40% over the last month and not one comment, shows no pi's on board yet before the drilling campaign kicks off next 1/4

No matter what nas-something has happened to initiate a buying frenzy. Time will no doubt tell. Sooner rather than later.

Following Friday's late buys, interesting to see what price it opens at on Monday.

With our track record - expect it will be down !!

Surprising turnover these last few days?

Yes, any ideas as to who the broker might be for these large recent trades?

RBC, maybe? They don't seem to be letting the sp go ahead......for the moment? Our chairman is probably absorbed with The Ashes so probably doesn't know either.

16m. buys?