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 another good start to the day.

If it could do what AGU did yesterday and rise 400%, then I might smile a bit!!

You never know.

I wouldn't be so lucky capetown.
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GEORGE,you just dont know,if your not in it,you can not win it,
Lets hope 0000000000000000000000000009 is the year we smile about holding on to this what has been a most frustrating holding.

.. and if you are in it, you can lose it .....

Of course.thats the risk we all take,
Hope there will not be too much selling as the sp increases to the dizzy highs of 4.5p.

I was hoping for 11p actually but will start with 4.5p.

I've lost it, (ha!ha!) so far, hopefully not completely though, seem to have held these for ages.
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What i find most irritating about this stock is the amount of trades at mid price,leaving me with no indication as to if its a buy or sell,whats wrong with .01 under or over,unless you are trading in millions!

is this a delay from the RNS or is something else due to be released?

I would like to think its more a reaction to the fact that the sp of 2.5p was oversold.

Slight lift today

Hopefully, the precursor to something more substantial.

All is fine with the tests. Looks like pumping again after the psi hit optimum levels. I hear the man himself is happy with the world.

This man will also be happy when this translates into a rise in the sp.

Come on AMER, let's be having some information. Even a postcard from sunny Colombia would do.

A postcard with no news?,they can keep it and save the money on a postage stamp!

Only card i want is one ccovered in oil.

is there anything to choose between GOO and AMER as total crap investments?

Oh yes, I got out of GOO @ 8.18p with a profit, but I'm sat on a loss with AMER, so in my case there's a big difference between them.
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