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.

Tfc

Sorry o/t but know you are heavily into gold price rising, have you looked at rrr?

Nobody post on here anymore ?

SP doing OK without too much dribble and unnecessary red herrings about other stocks. HNY

Morning : Barry: Stunned perplexity I think !

There isn't much point in speculating when the delayed (because of rainy season?) 3D seismic or the first half drilling programme for this year will be announced. Maybe our chairman is distracted by The Ashes - so after tonight's final day in Sydney maybe he wouldn't mind telling shareholders what they should be told about Amer. The sp seems reasonably solid ahead of that news.

SS

Can you tell us?

looking to add more things about to change in my view

Na sdaq, I am not close to this bunch of directors - and as you will know from previous comments from me about our chairman - probably not that welcome as a shareholder. He didn't like my involvement in seeking to get his option exercise price increased from its derisory level to a more respectable figure. My earlier comment was only that that batch of news items is already due (on their timetable) so it is time that we were told about it. It would not surprise me to find out that they had already spudded a well but as they had already said that they would be drilling in the first half of 2011, then they believe that that should suffice as information release.

SS
There update on jguasa and iasabel was fairly good so cant see they would go from one end of the spectrum to the other.
Have you heard a rumour about spudding?

Tanker - hope you acted on your "hope"

Na sdaq, No, I haven't. I just think that this team may already have done so and thought it immaterial telling anyone else - possibly a few institutional holders know a bit more?

After several persistant irate phone calls to the company secatary et al at AMER- and posing a plethora of questions to them l am assured an update will be made when "deemed appropriate" which as you all know could encompass absolutely anything . But there exists news that cannot stay out of the public domain much longer without attracting scrutiny . What amounts to a blackout of information for the majority is known to the tiny minority - hence our main "mop" {RBC} and other mms are only to pleased to buy as much stock as you can throw at them and still mark the price north - reason being, of course, they have inst buyers in the know with deeeeep pockets prepared to BUY them !!! .Much of the blame for this dearth of price sensitive informations i lay firmly at the door of AMER b/o/d themselves { esp. GC } and the remainder is unfortunately deeply inherrant in the laxity and ineffectiveness of AIM regs which almost invite secrecy and operating by stealth . .But BOTH my sources who work for different NOMADS in rival oilees in Colombia tell me in the clearest of terms so as to avoid ANY confusion quite a different story regarding a number of issues ranging from state of play at Fenix in the MMV ( and its phenomonal reserves ,targets for drilling, prepatory work already having already commenced, ,and without wishing to sound sinister an agenda i would prefer not to divulge on a public BB . All of which adds much credence to what you say SS. lt would seem both you and l are singing from the same songsheet,; and like your good self i would not be surprised either to learn of a spudding already having occured . l am only to pleased you broached this matter as i was begining to think i was stunbling around in a dark room with the door in the ceiling . Bid has juste hit 20p and yet there is not even speculation let alone hard copy to support/ justify this occurance ....lncidentally NAS their newsflow reg. lggy post mudweight debacle was an absolute farce / disgace .

selling outstrips buying by 3#1 yet b/o goes UP to 20,5/21p, and what is more, in a pig of a market .......When will investors learn MMS WANT this stock for their well heeled buddies..??? Yet they sell - Like lambs to the slaughter .. ..B/O now 21p /21p ...DO you need it all spelling out for you !!!!????............O/T ..Yes Nas -Have a position in RRR already . Resource stocks will be the biggest winners of both 2011 and 2012 .....The rest of the mkt can kiss my ar**.....

TFC: My thoughts exactly! Why on earth play into their hands ? A blind man could see that there must be, an as yet undisclosed (to we mere mortals) reason for the shares being bought and surely this can only be positive news.

Tfc

I totally agree about post iguasa drill, I still think someone/some broker potentially pressured someone somewhere to delay results to help a certain broker mop up all the sells from 11p, prior to that they seemed quite open.
I still go back to the agm and jw was extremely bullish I wish you could have been there(tfc) to see his optimism, somehow that's been lost in the last 4 months

TFC are you still a buyer at this level without firm news as to whats happening?

My own view is that Fenix is the driver behind the share price move.

Do you agree?

ln short - Yes l agree .....>l 3 levels totalling 500 feet vertical thickness of hydrocarbon bearing sands did not simply dissappear at lggy on the Fenix block no matter how bad the gas build up/ mudweight fiasco/ and well bore damage { which incidentally i believe was aggrevated by the earliar attempts to rectify the matter . But at the end of the day the light sweet crude oil is still there.; and furthermore i feel they have found a way to unlocking much of its potential. ...ln addition price is reacting to the impending intensive drilling prog that Amer has already embarked upon whose positives are already known to inst. investors.

Agreed TFC 350m barrels estimated to be down there in Iguasa. Just hope FG are able to do something positive and get the black gold flowing.

can you imagine the impact on the SP if the next RNS states that Iggy 1 is flowing at 500bopd!!!!

What a battle this afternoon.

nice start to day ....currently b/o of 21,50/ 22.00 with some half decent sized buys..........................