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.

.and of course - the MM's might just take us there - just to make us think that - whilst accumulating shares for the good news over the next month or so!!

......and another 5.15m trade @ 6p.Mmmmmmmmm

Well guys and girls,at least its getting interesting!!!!!

HOLDING.

And the selling continues.

Can anyone blame people for selling? I still believe that this will turn out to be a winner but would be pushed to prove why I think that; and the mgt doesn't help with their lack of progress reports and dripping snippets to a couple of friendly brokers just to keep everyone mildly interested.

cape - you could buy at under 6p today, so a mixture. (I never thought we'd be back at 6p, but there you go).
s'sure - I share your frustration.

BWD - 6P now underpinned - only one traffic from the close today >>>>

The market tries to recover somewhat & yet Ameriseur does nothing.....even went down a tad earlier !! News on updates needed urgently, surely

Interesting that the large trades @ MID price continue to hide wether its buys or sells that win the day.

a lot of buys just before closing.

nite - yes, more traffic in the right direction...but price still has the brakes on. Looks promising though.

consensus on other boards seems to think these large trades are CFD's unwinding - ie matched buys and sells. I do not know but increased my position today as thought it wiser to be in than out with news from associated parties due on Thursda.

More than one reason to be thinking Thursday. Not only are Ecopetrol having their AGM that day in Bogota but also we have been promised news by Amer before the end of Q1. To leave it until 31st would seem ungracious when you can benefit from goodwill in the various sections in the run-up to the weekend. We shall see. There will be some severe criticism should they fall short of their written promise this time.
I note Solano and Gran Tierra have had major sucess a short distance away in their Costayaco field in Putumayo.

Move in the right direction at last,will very little volume,and only sells showing so far,this is getting very interesting.

Trades showing as sells are meant to throw us off track-Indeed the larger trades are most certainly buys which allows the mm's to offload surplus stock they have held on their books for some time now.

I know of at least one big player who has accumulated stock and is about to press the button shortly.

News Thursday-maybe.If not certainly before month end.

I am a buyer of this stock as the upside potential is massive.

I agree Sivad but when do we hear?

Looks like we might hear on Monday if their promise to update us before wnd of q1 is to be beleived ?

or it'll be late as usual & the sp will suffer further because of it.....

Other SB/CFD companies are increasing their margin
on Thurs next. I do not believe you can short Amer
but no doubt people will have to close some positions
to cover bets that are against them. So another drop
is on the cards next week as people have to close
out positions.

M

you could be right about an SP drop next week Moneylender in the absence
of a company update. Great buying opportunity should the SP fall back to
the support level of 5.9p imv.
Like the look of this companies prospects in the medium term- especially with
good quantity oil sales from the Columbian wells