Update Presentation February 2013 John Wardle Chief Executive Officer
Disclaimer IMPORTANT NOTICE These presentation materials do not constitute or form part of any offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities nor shall they or any part of them form the basis of or be relied upon in connection with any contract or commitment whatsoever. No responsibility or liability whatsoever is accepted by any person for any loss howsoever arising from any use of, or in connection with, these presentation materials or their contents or otherwise arising in connection therewith. These presentation materials may contain forward-looking statements relating to the future prospects, developments and strategies of Amerisur Resources plc (the "Company"), which are based on directors' current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Each forward-looking statement speaks only as of the date of the particular statement and, except as required by law or regulations to which the Company is subject, the Company disclaims any obligation to update any such forward-looking statement to reflect future events or developments. 2
Investment Case Delivering exceptional results through a fully funded and balanced E&P portfolio Colombia and Paraguay focused, AIM listed independent E&P company with a US$750mm (1) market cap Colombia: 100% of Platanillo block and Fenix Block, both with light oil discoveries Paraguay: 60% Working Interest and Operator in Put-12 Block 5 blocks, approximately 6.40 million hectares 100% owned, including San Pedro exploration block with 708 mmbbl (2) of unrisked potential resources Current (logistic constrained) oil production of 4,300 bopd, strong balance sheet with $45mm (3) cash and no debt Current field production capacity approx 5,800 bopd Extensive 2 rig drilling programme planned during 2013 in Platanillo 10 new wells Exploration in Put-12 same geology as Platanillo 2D seismic acquired in Fenix exploration well during 2013 Gravity and seismic in Paraguay this year, exploration well 2014 Reserves report by end of March 2013 to reflect additions to year end 2012 (1) Market price as of 30 January 2013 (2) Management estimate, unaudited (3) Amerisur calculation January 2013 3
Company Overview Colombia - Putumayo Basin Substantial development and exploration upside with production ramp-up ongoing Current 2P reserves of 7.7 mmbbl (1) Logistically constrained production of ~4,300 bopd Current field potential production ~5,800 bopd Put-12 new block, Platanillo analogue Colombia - Middle Magdalena Valley Basin 2 discoveries on Fenix block 64km 2D seismic acquired December 2012 Exploration or Appraisal well 2013 Paraguay Highly prospective acreage in Paraguay covering c.6.4 million hectares Conventional and unconventional hydrocarbon potential Gravity and 2D seismic during 2013 Exploration well 2014 (1) Petrotech Engineering report, 31 December 2011 4
Colombia - Platanillo Drilling Drilled and completed 5 new wells to January 2013 Pay thickness and productivity at the high end of expected range 3 wells planned 2 Drilling programme was changed to optimise drainage after those early results 2013: 1 sidetrack 2 sidetracks planned 5 9 2 rigs drilling 10 new wells planned 1 well drilled, 1 drilling 2 wells planned 2 wells planned 3 sidetracks planned Activity is fully funded = Drilling Rig currently operating 4 wells drilled and producing 2 potential additional wells 5
Platanillo - Wells drilled to date PLATANILLO-4 PLATANILLO-3 PLATANILLO-6 PLATANILLO-9 PLATANILLO-5 PLATANIL LO-2 ALEA-1R PLATANILLO-10 PLATANIL LO-1 Currently drilling southern lobe, expect to drill northern wells Q3 2013 6
Platanillo Reservoir Data and Production Performance WELL UNIT Gross Oil Column Net Pay PLATANILLO-3 PLATANILLO-4 PLATANILLO-5 PLATANILLO-9 PLATANILLO-6 ARENISCA M2 5 2.5 ARENA U SUP. 14 7 80 9 ARENA U INF. 38 7 9 CALIZA B (Arena T Sup.?) 2 1.5 ARENISCA T 3 1 ARENA N 21 14.5 ARENISCA M2 10 1 ARENA U SUP. 14 8 75 2 ARENA U INF. 31 8 3 CALIZA B (Arena T Sup.?) 10 7 ARENA N 10 9 ARENA U SUP. 19 8 99 2 ARENA U INF. 60 8 2 ARENA N 13 7 ARENA U SUP. 17 8 71 2 ARENA U INF. 28 8 2 ARENA U SUP. 18 8 85 1 ARENA U INF. 33 8 1 ARENA T 13 10 I Initial Test Flow U Sand N [BOPD] T 2,340 1,100 2,472 730 1,550 Cementation and DST problems Packer problems 7
BOPD Platanillo Production Performance Logistical challenge is being met - new delivery points and methods developed 2012-2013 6.000 P6 5.000 4.000 P5 P9 3.000 P4 2.000 P3 1.000 0 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Sales Controlled Flowrate 8
Putumayo Basin: Put-12 Same geology as Platanillo Analogue fields in Ecuador Amerisur 60% WI and Operator 5 times bigger than Platanillo Currently analysing existing 2D seismic data 10 leads identified on existing seismic Potential 140 to 300 MMBO (1) Currently in Contract Phase 0 (Scouting) Fully funded 2D and 3D Seismic in 2013 Drilling multiple prospects in 2014 (1) Management Estimates 9
Colombia- Fenix Overview Amerisur currently has 100% working interest in Fenix, which is located in the prolific Middle Magdalena basin 2 Discoveries Iguasa and Isabel Iguasa poor reservoir quality stimulation planned Isabel to be appraised As of June 2012, Fenix has unrisked resource estimates of 65 mmbbl (1) 63km 2D seismic acquisition programme completed January 2013. One exploration well to be drilled during 2013 Upsurge in unconventional interest focused on the La Luna shale where Fenix also has significant potential (1) Management estimates 10
Paraguay Overview Amerisur holds 2 E&P and 3 Prospecting permits in Paraguay extending over 6.4mm hectares Country offers significant potential for Amerisur shareholders San Pedro block unrisked potential resources estimated at over 708 mmbbl (1) Piriti Basin exploration started in July 2012 and Amerisur plans to perform seismic and other geophysical work in the blocks in the near term The US Energy Information Administration (EIA) estimates 62 (2) Tcf of unconventional gas reserves Gravity and magnetic work reveal significant potential Industry interest is high as evidenced by the recent President Petroleum US$50mm Piriti farm-in Field work to begin in April, initially Piriti gravity and San Pedro seismic. Potential drill in 2014 (1) Management estimate, unaudited (2) 2009 data from World Shale Gas Resources report (published April 2011) 11
Summary Strong track record of success to date 5 new wells in place, 10 further appraisal/development wells and 3 sidetracks of legacy wells planned Production capacity targets achieved, logistical challenge being met Closely focused on building further success in Colombia Positioned for important revenue and value growth Forward programme extensive and fully funded Put-12 an important addition to the portfolio 12
Appendices 13
Board & Management Name / Position Age Experience Giles Clarke Chairman 59 Successful entrepreneur and Chairman of several private organisations Founded Majestic Wine in 1981, co-founded Pet City in 1990 and co-founded Safestore in 1998 Chairman of the England and Wales Cricket Board John Wardle CEO 53 18 years of experience in Colombia, joined Amerisur in 2007 after having worked with BP and Emerald Energy Experienced drilling engineer and has held several senior management positions with oil exploration companies B.Sc. Mining Engineering, PhD Geophysics Douglas Ellenor Non-Executive Director 69 Detailed and extensive knowledge of Colombia having acted as CEO of the Shell Companies of Colombia and CEO of Hocol SA, a Colombian E&P Has over 37 years of experience in the E&P industry George Woodcock Non-Executive Director 72 20 year career at BP, including a period as Chief Geophysicist of BP Colombia Co-founded and managed various exploration companies in Colombia including Copeco, Expet and Petex Victor Valdovinos Regional Director South America 48 Paraguayan lawyer with a Masters degree in Energy and Environmental Law from Tulane University, New Orleans, USA Acted as legal advisor to the United Nations Development Programme and the Minister of the Environment for the Government of Paraguay Served as General Secretary of the City Government of Asuncion Nick Harrison Finance Director 53 Qualified as an Accountant with Arthur Andersen Has worked at Deloitte, Midland Bank (International), Coopers & Lybrand and acted as CFO at Pet City 14
Oil and Gas Reserves in Colombia A note on process The Operator of an Exploration and Production Contract in Colombia are required to calculate an estimate of reserves within that contract at the end of each year and submit that report to the National Hydrocarbons Agency (ANH www.anh.gov.co ). The cut-off date for the report is 31 st December of the year in question. Hence only wells, data and other information available at that time may be taken into account in calculating the estimate. The report must be submitted to ANH by 31st March of the year following that under review. ANH, in association with the Ministry of Mines and Energy (MME) use the data supplied to update the national reserves database, which is instrumental in the creation of forward energy policy. In Platanillo Amerisur use independent third party, certified reserves assessors, who observe the standards set by the Oil and Gas Reserves Committee of the Society of Petroleum Engineers (www.spe.org). 15
Price (GBp) Volume (mm) Share Price Performance 2007 to 2013 60 Raised 25MM at 37.5p 50 45 50 40 Raised 14MM at 16p 40 35 30 30 Raised 15MM at 6p 25 20 20 15 10 10 5 0 May 07 Feb 08 Dec 08 Oct 09 Aug 10 May 11 Mar 12 Jan 13 0 Volume Amerisur AIM 100 Index AIM O&G Index 16
Platanillo- Prospective Resources P90 45 MMBO P50 69 MMBO P10 95 MMBO Monte Carlo Simulation based on 3D Seismic Data Amerisur Internal Evaluation 17
Colombia: Platanillo Block (100%) Geological Overview = Proven Reservoir = Potential Reservoir 18
Paraguay: San Pedro Block (100%) Paraná Basin Surface geochemical work found hydrocarbon anomalies Planned seismic replaced by 39,000km Airborne Magnetic Survey May 2011 Gravity and Magnetic mapping completed October 2011 Basement now understood potential enhanced Significant partner interest Area is heating up Project Area Location Lines with data acquisition 19
Paraguay: San Pedro Block (100%) Paraná Basin Significant sedimentary thickness near-to and within the block Important apparent structuring at basement level Irati shale and other source rocks could be mature in the area Seismic test line planned for 2012 20
Paraguay: New Prospection Permits (100%) Piriti/Pilar Complex Amerisur analysis indicates basin boundaries and internal forms are different to what was supposed. Piriti/Pilar Complex basin appears to be extension of the Lomas de Olmedo Sub-basin of Argentina. Gravity work underway to extend mapping into Olmedo area Palmar Largo area +/-100MMBO discovered in area to date 21
Paraguay: New Prospection Blocks (100%) Piriti/Pilar Complex Basin is pre-cretaceous failed rift with subsequent thermal subsidence Production from Cretaceous and Paleozoic in Argentina 22