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.

It's OK for the Scotsman to say 'one to watch' - what do they think some folk have been doing for a few years now. I would appreciate a few key dates when some of the 16 wells will be drilled.

SS

they aren't going to be drilling anytime soon but RBC's clients will be loading up to their price target pre drilling.

na sdaq, But they committed to drill in the second half of the year and we are not far off from that timetable. I cannot see the Board wanting to miss that commitment and ruining a steadily accumulated reputation for at least doing what they say in their business plan. I agree about RBC clients being around to buy.

Large volume on Friday - so maybe the drilling programme is going to start as planned. If they are going to match their end of year forecast of 5,000 b/day it needs to start now. as ever there is nothing coming out of the company as far as RNS's!

Down 10% on RNS but not surprisingly buys equal sells !!

The economic moat of this early stage explorer rests mainly in the license, and the ability to commercially exploit the license-so eagerly await MAVDT confirmation of the Platanillo modification.

Print Thursday 25 August, 2011Amerisur Resources
Update on Paraguay Operations
RNS Number : 9984M
Amerisur Resources PLC
25 August 2011

25 August 2011



Amerisur Resources PLC



("Amerisur" or the "Company")



Update on Paraguay Operations





Amerisur announces that senior executives from the Company, accompanied by Professor Victor Graterol held a detailed briefing with the Paraguayan Minister of Public Works and Communications, General Cecilio Perez Bordon, the Vice Minister, Ing Mercedes Canesse and the Director of Hydrocarbons,Lic. Emilio Buongermini in Asuncion on 24 August 2011, to provide an update on the Company's recent Aeromagnetic and Gravity survey. Professor Graterol, consultant to the company, is a world expert on geophysical analysis and gravity, and has been examining sedimentary basin surveys for over 30 years.



The Company informed the Minister that initial analysis was encouraging and that a full detailed report would take approximately nine months to complete. This would then enable Amerisur to select with greater clarity appropriate areas for seismic surveys, given the size of the San Pedro block, which is over 800,000 hectares and only 40,000 hectares have ever been surveyed seismically.



Giles Clarke, Chairman commented:



"We have had immensely constructive discussions to brief the Paraguayan Government on the good progress Amerisur is making in understanding the geology and prospectivity of the San Pedro block. Amerisur is very confident that seismic locations will be identified with good drilling prospects."



Dr John Wardle, Chief Executive, has been completing the final aspects of the Companys work to obtain its environmental license modification to build access roads for the new wells in the Platanillo Field, which the Company believes will be approved in the near future.

Re Platanillo, let's hope that 'near future' means what it says.

Very quiet here for the last month, results out today.
2517

Very suspicious of the 'fat finger'trade last Friday which sparked off a dump and stop out of spreadbetting positions. This has happenned before on weak market days and in advance of news. Highly suspicious of this sp being rigged when it suits.
as for the interims. Where was the information on current production and shouldn't there have been more cash in the bank or is that because the comapny has pre-paid the drilling programme?
The Fenix JV looks to be a bit of a joke - no activity likely there in my view. The JV partner does not seem to do anything.

I could not agree more Sharesure there are too many important questions unanswered. SP seems to again being minipulated to-day. I for one have a large portfolio and all are `blue` this morning with the exception of Amerisur.

update re Plat.
http://www.amerisurresources.com/rbc_conference_oct11.html

Some news on the way?
2517

Oakappies142

How many are blue this morning ?

aldwickk

The air only has been blue here for too long. Other than AMER and I do like what I am seeing only others are BARC (just) and GFM (who I have great faith in)

Positive rns today.

Right on cue an excellent rns.
2517

Seems to have gone very quiet on here, yet it has gone up slightly over the past few days......does anyone know if there's any particular reason why ?

Possibly Fenix - funding agreed? Just a thought from another B/B

Due diligence completed but no guarantees on deal. I think some new seismic data is also due. RBC also back in the saddle.