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.)

b>



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.

Doubt Evo would be behind any disposal of shares other than intra-fund transactions because they know the story on Chaco and are very bullish.This stock should be strengthening further even though there are 7 trading days to their update.

Disappointed that they were not able to keep to the timetable for keeping shareholders updated.
This was not for want of trying,but the legal logistics are simply enormous.
We can take it that 24th will bring suitable information.
Perhaps and this is only me guessing,maybe a little sweetner before 24th.

Market report, Daily Express, today: "South America-focussed oil and gas explorer Amerisur dropped to 8.5p before recoevring to close 0.13p lower at 8.88p on heavy volumes on hopes a joint venture deal was due."

bwd
JV would be welcome at this stage.

sivad we have been here before hoping for information just before the AGM, but it never happened. News will be announced as and when not before, but it is interesting to see the continued interest in this share. If the news is good how much is already in the price, on the other hand if the speculation surrounding flow rates and the Repsol situation prove over optimistic will the small investor run for the door. We will see no doubt during the course of the next few months. ADVFN message board is very polite and entertaining we will see how well informed they all are soon. With 800M shares in issue P2 and P3 reserves will have to be considerable to rerate the share price although I accept any really good news of whatever sustainable value will excite the market in these oily times!!

Bo - guess so. Would rather hear about other stuff first but there are certainly a couple of outstanding companies operating locally that could get things moving fast imo. John Wardle, AMER's man in Colombia, is very familiar with one of them in particular. I would be delighted if either of them were lined up for partnership.

At last the MM's are capitulating to the inevitable-marking the price down on nothing , in a last ditch but naive attempt to shake out any more weak holders.
It is my view that buying will now be sporadic in the lead up to the 24th-simply because those wise men have already loaded up,and those in doubt but who watch-and there are plenty, will now wait for release of the RNS which will make them pay a higher price.

Many are prepared to do this and to see their investment on a solid footing.
Nothing wrong with this if one is a cautious poker player.With AMER all the players have seen the cards and are purchasing from a position of strength.

Re: Platanillo Contract (Amerisur Resources)

RNS Number : 0502X
Amerisur Resources PLC
19 June 2008


19th June 2008

Amerisur Resources Plc ("the Company")

Operator status re Platanillo Contract

Amerisur Resources Plc, the oil and gas explorer and developer focused on South America,
is pleased to announce it has become Operator
of the Platanillo contract in Colombia.

The appointment of Amerisur as Operator has been ratified by the Agencia Nacional de
Hidrocarburos (ANH), the contract governing body.

The partners decided that this change would bring economic benefits which will facilitate
the evaluation of the block. Amerisur expects
to perform the handover with ECOPETROL and begin operations during June 2008, including the
installation and commissioning of the equipments
required by the Ministry of Mines and Energy for the simultaneous long-term testing of the
wells Alea-1 and Platanillo-2.

The Company holds a 25% working interest in this block through its subsidiary, Amerisur
ExploraciColombia under the Platanillo
Exploration and Production Contract with the ANH. Repsol ExploraciColombia S.A. holds 35% and
Ecopetrol S.A. holds a 40% interest.

Dr. John Wardle, Amerisurs Chief Executive Officer commented:

"Becoming operator in this contract is a great step forward for Amerisur. Besides
reiterating the progress we have made during this last
year, it demonstrates the confidence of our partners in Amerisur. We believe that this change
will allow us access to a reduced cost base
and more flexible technical options for the future appraisal and development of this exciting
project."

Mr. Giles Clarke, Chairman commented:

*The Board is very pleased with our development to Operator status. We look forward to
providing an operational update in due course.*

- Ends -

Competent person: Technical information in this announcement has been reviewed by John
Wardle Ph.D., the Company's Chief Executive. John
Wardle has 23 years experience in the industry, having worked for BP, Britoil, Emerald Energy
and Pebercan, and is a trained drilling
engineer.

It seems as if the requirements for qualification as a Colombian E&P operator under ANH authorisation are different depending on which "round" of licenses the award was made.

For example in the recent "Caribbean Round" of 2007, ANH required an operator to hold at least a 30% stake and

* be a "top 100" oil company as defined by Petrol Intelligence Weekly
OR
* have operated porduction of 5000 boe/d in 2006
OR
* have a minimum USD 2 billion in market capitalisation
OR
* have a minimum USD 1 billion of shareholder equity

The AMER licenses, which of course were awarded under the Chaco regime, are earlier than 2007 and therefore the operator qualifications may not be as stringent. Nevertheless, it seems to me that as things currently stand (in as much as is publicly known), AMER would fall far short of qualifying for operator status.

This suggests that what is publicly known is not the whole picture. It is not clear whether other news has not yet been released because all the i's ain't dotted and t's aren't crossed or because the AMER board is playing a tactical game of some sort in timing their news items.

However, it does seem obvious to me that there is more to this picture than today's RNS and that it must be favourable to AMER.

All this is of course only my (very poor) opinion.

WDIK, PDYOR.

camlad

camlad,

Excellent post and I would fully agree with your comments and views, they seem as if they are going to release news bit by bit up to the prelims 24 June and then annual accounts 30 June and finally as we progress to the AGM on 29 July.

All beginning to fall into place, I would like to post your comments on the other board, are you happy with that

regards

Stewart

Stewart,

no problem with you posting it on the other board.

camlad

Agree that this is only a small part of the jigsaw; increased % stake in the field should be next announcement.

Camlad,
long time no see, i remember we were only 2 people posting about this damn share on another site years ago if i am remembering correctly,LOL !

as always Up the Redmen!

Shanks,

Still around but don't post much - due to work commitments.

Stuck with this share through thick and thin - but it seems mostly thin. Just too stubborn to let go.

Hope all is well with you. Wish the Redmen a good 2008/9.

camlad

D Express market report today: "Traders expect oil and gas group Amerisur Resources, steady at 8.63p, to expand its drilling programme after becoming operator of the Platanillo contract in Colombia."

Maybe the w/e press will pick up on what sems to be being put in place. Quite optimistic that next Tuesday will give a great deal more information about the way Amerisur will evolve over the next 6 months. Still expecting an improved % share to be announced for Platinillo plus some idea of the potential for that field.... and more on other areas.

Various writers have alluded to the probability that AMER cannot be an operator unless it has a substantially higher %. However could it be the case that if Ecopetrol were happy for AMER to be the operator normal criteria would be waived. Repsol's 35% could be cancelled or shared or transferred to either party. It is certainly not a forgone conclusion. The financials next week will be interesting, I hope!!

I know of one company in Colombia which is the operator on a project even though it has a minimum share. But AMER has stated that it wants a bigger stake at Platanillo -just remains to be seen if/when it can pull it off.

At least AMER has fulfilled its ambition to be an operator - again previously stated -which will certainly give it more clout in dealings with the ANH and other govt agencies.

I agree that Amer's operator status does not necessarily mean that they have increased their share of Platinillo but there seem to be enough rumours around that they have done just that.

S/S
Surely we must get some operational information on Tues to get the SP moving in the right direction.