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.

Yes it's great isn't it BB

Ah well, at least my partner loves me


... now where the hell has she gone ...

oh for goodness sake you 2. i'm trying to eat my supper.;-)
regards
jkd

Still falling down to it's true level.

It's very quiet in here..

MM's just keep playing games to pretend it's going back-up again to catch the greedy

Rex Harbour must be a numpty then, maybe he needs you as his advisor.
When the market wobbles people always take some profit off the table and probably much to your disgust there have been profits to be made here.

dd is Rex Harbour

another 1.5m US$ a year in the kitty announced today, at today's oil prices.
On top of the update a month ago at this rate they will be raking the cash in by the end of the year.

D/D. Amities mon pote.....Only 2 variables reg. trading -Greed and Fear. Formerly the Gold mines of Sardinia which resurfaced as Chaco Res and now AMER it remains a highly risky play . Despite a definitive improvement in calibre of board who at least understand the mechanics and dynamics of the oil industry/ market,l still think they live more in hope a big player will surface to line their pockets / save their skins. Furthermore with almost a billion shares in play a share consolidation looks quite likely which in 99% of cases has a detrimental effect on s/p..........Not knocking the stock . Merely think there are better oil juniors out there .............{ Off Topic } > Aldwick { Roland}. Juste flew in from Port of Spain where l now reside and resetting pc to send e-mail using hotmail address .Always told you i would retire from city before was 40 .

RNS this morning was a bit thin, I thought. Could have done with some explanation as to what it means! Some here:

http://www.smallcapnews.co.uk/article/Amerisur_Resources_gets_goahead_for_exploitation_plan_on_Platanillo_field/8338.aspx

There 830 million shares in issue, which is not nearly 1 billion.

BD. TFC edited his post today, deleting the reference to the fact that he was shorting the stock. I would suggest that he would not have done so had the price fallen today. Credibilty = NIL .

TFC writes, "Merely think there are better oil juniors out there", with which i thoroughly concur

l am SHORT !!!!!! ; but decided { for once } to employ a little diplomacy and avoid a personal frigging confrontational bitching match with the consensus of a partisan thread which hates objectivity or ANYONE with a contrarian view.Had same crap when declared being short on SEO,NML and this very stock last time around when it fell from 16p to 1.65p or so . Do you imagine a half a point gain on a single day has an iota of an effect on how i view this stock ? You must be mad or a comedian or blind or all of them . . While capitalism is not dead; its on a life support machine .Once all that newly printed money is spent we shall see a DEPRESSION and stock market crash that will make that of the2o's and 30's look like a happy day in the park ...Then resource wars and ohh F*** it !!! What with global debt being at current levels i see a BIG payback time on the horizon. l am short on over 30 stocks !!! Happy now ??

that's a lot of stocks to be short of and pretty brave ..... to be honest, i would rather be short of indices or sectors if shorting seriously (would be neutral all round at the moment) ...... in any case, i rather take TFC's utterances with a pinch of sel de guerande

cynic, I know you aren't a fan of AMER but they have performed far better than either GKP and AFR, both around 100 - 105p at the time of your (better of the oilies) comment in january.
2517

is that really true? ..... i believe you of course, though at least both AFR and GKP have found pretty serious quantities of the black stuff

============

just done a little check, and you're right of course, though your timing is a bit selective, as AMER has really only outperformed since some time in november

There is no doubt that both GKP and AFR have been excellent performers up to mid january, but since then GKP has lost 23% and AFR 24.5% against a loss of 8.3% for AMER over the same period, ie the date of your better of the oilies comment.
2517

not disagreeing with you, though i know where i would still rather have my money ..... one could even rationalise and say (i'm not!) that AFR and GPK offer far better investment opportunities at current levels

a 10% gain today not to be sniffed at with your long nose cynic, pepe's trying to put a spanner in our works.....not working so far..

Yes but with the spread, nobody has made money out of it and that is the point. MM's just playing games and I think it is still going down taking all the new investors with it.