ANALYST SITE VISIT

ANALYST SITE VISIT

19 – 21 SEPTEMBER 2016

A Latin American Producer & Explorer

www.amerisurresources.com

2

FULL CYCLE E&P ENTERING STRONG GROWTH PHASE

AMERISUR

· Strong financial position

· Solid, low opex production base

· Diverse portfolio of near term assets with strategic position in under-explored

Putumayo

· Strategic infrastructure in OBA pipeline

· 11 wells in next 15 months, fully funded, to convert resources into reserves and

increase production

· Visibility to diversify production base to up to 5 fields

· Broad portfolio of longer term exploration assets

· Strong management team

3

ORGANISATION

OUR BUSINESS IN COLOMBIA

AMERISUR RESOURCES PLC

AMERISUR EXPLORACION

COLOMBIA LIMITED

PETRODORADO SOUTH AMERICA S.A.

AMERISUR EXPLORACION

COLOMBIA LIMITADA (Sucursal)

PETRODORADO SOUTH

AMERICA S.A. (Sucursal)

Platanillo 100%

PUT-30 50%

PUT-12 60%

CPO5 30%

Tacacho 49,5%

Fenix 100%

PLATINO ENERGY (BARBADOS) CORP.

PLATINO ENERGY (BARBADOS) CORP. (Sucursal)

Coatí 100%

PUT – 8 50%

Andaquies 100%

Tax Losses

USD$57MM

(approx.)

Tax Pools

USD$24MM

(approx.)

4

WHERE WE WILL BE

STRATEGY TO 2019

• Focus on Putumayo growth with Llanos as a non-operated hedge

• Maximise value from producing assets

• Grow Production and OBA throughput

• Convert contingent resources into reserves – Infill drilling, efficiency & OBA

• Convert prospective resources into reserves - exploration drilling

• Broaden production base to at least 3 fields

• Advance light oil prospects first, followed by heavy oil

• Continue focused acquisitions in Putumayo which have strategic fit

• Target 20,000 barrels net per day by end 2019

• Multiple financing options available to fund growth

5

STRATEGY

WHY PUTUMAYO?

• Proven oil basin with light to heavy oil gradation in excellent reservoirs

• Big field potential in Colombian terms (+60 MMBO recoverable per field)

• Under explored with offset data over the river

• Previous Constraints:

– Security

• Peace process

– Isolation

• Amerisur road

• Increased Government spend

• New solutions and technology including fluvial transport

– High cost of transport to market - Trucking

• OBA

– Social challenges

• Amerisur proven track record of long term community interaction

6

STRATEGY

ECUADOR AND COLOMBIA FIELD DENSITY

7

INTRODUCTION

COLOMBIA ASSET SUMMARY MAP

• Platanillo 100% Operator

• Coati 100 / 60%* Operator

• PUT-12 60% Operator

• PUT-8 50%

• PUT-30 50%

• CPO-5 30%

• Andaquies 100% Operator

• Tacacho 49.5%

• Fenix 100% Operator

9 blocks

666,988 Ha Gross

345,309 Ha Net

Amerisur owns 100% of the Temblon discovery area. Canacol is farming into 40% WI in the exploration area.

8

Gerente de

Geología y

Geofísica

Gerente Técnico y

de Operaciones

J. Velasco

Ingeniero Sénior

Operaciones

Producción (2)

Supervisores

de Producción

[6]

Controller Líder de

Compras y

Contratos

Líder de

Logística

Integral

Jefe RSC y

Relaciones

Institucionales

Coordinador de

Operaciones de

Producción

Coordinador

Ambiental

Asistente

Contable

[2]

Contador

Sénior

Supervisor

General de

Seguridad

GERENTE GENERAL

AMERISUR EXPLORACION COLOMBIA LIMITADA

CARLOS ANDRES MARTINEZ BONILLA

Coord.

HSQ

Analista

Contable

[2]

Ingeniero

Yacimientos

Coordinador

Logístico Entregas

[2]

Asistente IT

& G.

Documental

Asistente de

Gerencia

Recepción

Servicios

Generales

Gerencia Administrativa y

Financiera

F. Rueda

PWC

IMIX

R. Salgado

Deloitte

G. Thornton

Gerente H.S.E.Q., Comunidades y

Talento Humano

S. Ramírez

Ingeniera Jr.

Produccion

Ingeniero

Perforación &

WO (2)

Gerente de

Seguridad

Ingeniero

TIC

Gestor de

Compras y

Contratos

(2)

SFA

Lideres de

Geología

[2]

DO – TH – 001

Versión: 1

Fecha actualización: 15-08-2016

Contadora

Tesorera

Gestor

Operacional

Coordinadora

de Seguridad

Auxiliar de

archivo

contable

Geologos

[2] Ingeniero de

Jefe de campo

Coordinador

Gestion Social

IN COUNTRY TEAM

9

INTRODUCTION

COLOMBIA MACRO ECONOMICS

• Strong democratic tradition, winning independence in 1819

• Produced an average of 1,005,400 barrels of crude oil per day in 2015

• President Santos has been in office since 2010 and was previously Minister of

Defence

• 24 August 2016: peace deal between Colombia Government and FARC

– Result of four years of formal negotiations

– Should lead to lower levels of violence, better security of infrastructure and

improved operating environment

– FARC rebels to disarm and demobilise

– FARC leaders given a role in politics

– Subject to referendum if approved by Congress – Plebiscite 2nd October

10

INTRODUCTION

AMERISUR PARTNERS

11

PUTUMAYO CONTRACTS & OBA CLUSTER

Platanillo

PUT 12

PUT 8

Andaquies

Coati

Tacacho

PUT 30

OBA

OBA

Cluster

A-30

Complex

Putumayo

Portfolio

OBA CLUSTER

12

OBA CLUSTER

PLATANILLO GEOLOGY AND RESERVES / RESOURCES

• Produced 6.98 MMBO* to date

• U Sand Principal Reservoir – 31° API

• T Sand proven oil – 34 - 38° API in LTT

• N Sand proven oil - 19° API

• 1P reserves of 15.2MMBO

• 2P reserves of 23.7MMBO

• Current production +/-4,500BOPD

• Targeting 2016 exit production rate of

7,200 BOPD

Well North Area 1

Well North Area 2

INFILL 9

INFILL 5INFILL 4

* As at 31st August 2016

13

PLATANILLO – UPSIDE PROVEN IN T SAND

U sand Horizon T sand Horizon

OBA CLUSTER

14

PLATANILLO – UPSIDE PROVEN IN N SAND

Spectral Decomposition – 35 hz

PUT 8

PLATANILLO

Attribute analysis underway

• Strong N sand development in

central and northern parts of

the block

• Building appraisal programme

OBA CLUSTER

15

PLATANILLO – SUMMARY OF FUTURE UPSIDE

Area Next Steps Upside Potential

U sand Development Infill and continued extension to the north (Plat-22)

Light oil, good production rates, excellent reservoir

T sand Development Dual or re-completion once U sand depletes LTT Plat-8

Important prize , excellent reservoir– tested and proven

N sand Appraisal & Development

Seismic analysis and model refinement underway – very encouraging to date

Estimated greater than 100MMBBL OOIP potential

Appraisal of North Independent Closure

Structure looks fine on 3D. May coincide with N sand appraisal

Probably post 2017

Appraisal of subsidiary structures West

Libélula-1 suspended at 7,850ft - technical issues

Post Put-8 North drilling

Northern section 3D seismic

Platanillo North 3D seismic completed – more faults, structures may be compartmentalised

Useful bolt on reserves for later

OBA CLUSTER

16

OBA CLUSTER

PLATANILLO ACTIVITY PLAN AND CAPEX

2016 Programme

• Drilling

– 2 infill wells

– Up to 2 wells North Area (step out)

– Capex $4MM per well

• Production

– Construction 10KBO Tank PAD5

– Interconnection PAD5 – PAD9 Oil Transfer

– Electric Interconnection PAD3 – PAD1

– Workovers and recompletions

– Capex <$2.5MM

17

OBA PIPELINE

OBA CLUSTER

COLOMBIA [Municipio de Puerto Asís, Putumayo]

ECUADOR [Provincia de Sucumbios]

AMERISUR

PLATANILLO FIELD [Pad 9 South]

PETROAMAZONAS E.P. VHR FIELD

LOS CHIPAROS EL PALMAR

18

PLATANILLO – OBA ROUTE TO MARKET

skadjf

OBA CLUSTER

19

OBA PIPELINE UPDATE

• OBA is constructed and tested from Pad 9S to Amer facilities in VHR Station

• Under River Crossing

– Drilling was completed on 22 March 2016

• 1500m (1420m horizontal section)

• Hole 22”

• 10,8” line installed under river and integrity tested on 28 April 2016

• Currently commissioning Control and Communication systems

• Awaiting SHE/ARCH decree for operation into Ecuador

OBA CLUSTER

20

OBA PIPELINE CAPACITY AND FUTURE STRATEGY

• Initial post-commissioning volume ± 1,500 BOPD

• Agreed minimum volume 5,000 BOPD

• Design Volume (OBA & VHR reception) 50,000 BOPD

• Lago Agrio

• SOTE or OCP (segregated transport)

• Sale to PetroEcuador

• RODA has transport limitations

• Increase in production levels from PAM fields

• Outage of 1 intermediate pumping station

• Production uplift short term

• Pumping station to be rehabilitated

• 1 further new pumping station to be constructed

• Grow OBA throughput

– Organically & Partner oil (tariffed)

– Bought in Crude

OBA CLUSTER

21

OIL COMMERCIALISATION

OIL PRICES – 2013 TO 2016 (WITH VOLUMETRIC COMPENSATION ESTIMATED)

22


TRANSPORT COSTS

23


TRANSPORT COSTS VS. PRICE

Average Price (Jul-Sep/16)

24

OBA CLUSTER

PUT 8 BORDERS PLATANILLO TO THE WEST – PRODUCTION THROUGH OBA

• PUT-8 (North)

• Platanillo Style Play 2% X Factor

• “Platanillo West” Light Oil Structural

Trap – Platanillo analogue

• 3D seismic mapping gives high

confidence

• P50 4MMBO (net) recoverable

• Central part can be drilled from

Platanillo License area

• Easily tied back to low cost OBA

transport

Programme – Platanillo West Well

• PUT-8 (South)

• N Sand Play 2% X Factor

• Cohembi field (ECP) holds 126MMBO

in place

Water injection is underway to

increase RF to 25%

• Luzon-1 discovered oil

• Cohembi/Luzon potential likely

to extend into Put-8

• 2D analysis indicates a very large N

Sand amplitude anomaly in Put-8

South >150MMBO*

Programme – N Sand Anomally Well

25

OBA CLUSTER

PUT-12 GEOLOGY AND RESOURCES

Summary

• Amerisur 60% working interest and

Operator – 29% X Factor

Geology

• 55,000Ha – 5x bigger than Platanillo

• Similar geology to Platanillo

• 9 leads on the existing seismic with

the potential for 185 to 465 MMBO of

gross resources

PUT 12

PLATANILLO

COLOMBIA

PLATANILLO PUT-12

Ecuador

Peru

Brazil

26

OBA CLUSTER

PUT-12 STRATEGY, ACTIVITY PLAN AND CAPEX

2D Seismic:

• Stage 1 - 2016

– West of block

– 119.7 km

• Stage 2 – 2017

– Eastern and southern areas

– 152.3 km

COLOMBIA

PLATANILLO PUT-12

Ecuador

Peru

Brazil

27

OBA CLUSTER

PUT-12 STRATEGY, ACTIVITY PLAN AND CAPEX

Initial Drilling Focus:

• Lead 1

– Proximity and similarity to Platanillo

Field – P50 106MBO

– Easy tie back into OBA

– EIA studies beginning

– 2 wells in 2017

• Lead 6

– Appears to be continuation of

Blanca Field in Ecuador – P50

47MBO

• Lead 3

– Trap door structure, large area,

potential Stratigraphic component

– P50 82MBO

* Management estimates

PLATANILLO

PUT 12

COLOMBIA

PLATANILLO PUT-12

Ecuador

Peru

Brazil

1

6

3

28

OBA CLUSTER

COATI GEOLOGY AND RESOURCES

• U & T structural trap tested in 3 wells

• Currently estimated at 16MMBO

contingent resources (best case)

• O% X Factor

• Exploitation area 100% Amerisur

• Caballos hydrodynamic trap

• Currently estimated at 7.2MMBO*

prospective resources (low case)


29

OBA CLUSTER

COATI GEOLOGY AND RESOURCES – STRUCTURE TEMBLON


Unit ÁREA (acre)

NET PAY (ft)

Phi (%) SW (%) FV OOIP (MM

Bbls)

Prospective Resources (MMBls)

FR (%)

0.25 0.30 0.35

Caballos 2403 20 0.14 0.38 1.12 28.89 7.2 8.7 10.1

Unit ÁREA (acre)

NET PAY (ft)

Phi (%) SW (%) FV OOIP (MM

Bbls)

Contingent Resources (MM bls)

RF (%)

0.25 0.30 0.35

ARENA U 6327 10 0.14 0.13 1.12 53.38 13.3 16.0 18.7

30

OBA CLUSTER

COATI STRATEGY AND ACTIVITY PLAN

2016/2017 Programme

• Complete Consulta Previa

• LTT Coati 1

• 3D seismic

– 2 programmes, Temblon &

Exploration Area

• Temblon Appraisal well 1

37 Km² 3D Exploration

Area

10.5 Km 2D Exploration

Area

6

7

5 1

2 3

4

115 Km² 3D Temblon

Area

31

OTHER COLOMBIA ACREAGE

CPO-5 GEOLOGY AND RESOURCES

• Interpreting new 3D data

• Objective rich with good seismic and

well data

32


CPO5 RESOURCE POTENTIAL

All numbers net to Amerisur

33


CPO-5 STRATEGY, ACTIVITY PLAN AND CAPEX

• Costs reduced significantly

• 2 back to back A3 wells before May 2017

• May – August 2016: tested well Loto-1 in Upper Mirador – L4/L5

– Not economic stand alone but useful bolt on production potential from Loto Mirador

34

A-30 COMPLEX

PUTUMAYO-30 GEOLOGY

• Exploration block in the Putumayo basin

• 50% WI over 38,500 hectares (partner Talisman)

• Cretaceous potential and recognized Tertiary play

concept

• Significant Heavy Oil Resource expected in Neme Sands

• Low to medium exploration risk, high upside

Put-30

Platanillo Put-12

35

PUTUMAYO-30 GEOLOGY – REGIONAL SETTING

35

• Exploration block in the prolific Putumayo basin • 50% WI over 38,500 hectares (partner Repsol) • Cretaceous potential and recognized Tertiary play concept • Significant Heavy Oil Resource expected in Neme Sands • Low to medium exploration risk, high upside

A-30 COMPLEX

36

PUTUMAYO-30 GEOLOGY – WELLS IN THE AREA

36

A-30 COMPLEX

37

Amerisur internal estimates

A-30 COMPLEX

PUTUMAYO 30 RESOURCE POTENTIAL

Play Area

(acres) Net pay (ft) Phi (%) Sw FVF OOIP (MM bbl) RF

Resource (Gross MMbbl)

P90 19000 60 0.17 0.48 1.08 724 0.10 72.4

P50 30000 89 0.21 0.38 1.05 2,497 0.18 449.5

P10 60000 125 0.25 0.25 1.03 10,102 0.25 2,525.5

38

A-30 COMPLEX

ANDAQUIES GEOLOGY

• 6 prospects and leads – all 2D

• 2 reservoirs

• OOIP – 411MMBO*

• Unrisked resource 123MMBO*

Programme – 1 well and Seismic

acquisition in 2017 - 2018


39

Amerisur internal estimates

A-30 COMPLEX

ANDAQUIES RESOURCE POTENTIAL

Leads Area

(acres)

Net pay

(ft) Phi (%) Sw FVF OOIP (MM bbl) RF

Resource (Gross

MMbbl)

Andaquies-Caballos - StratTrap 5200 50 0.25 0.25 1.15 198 0.30 59.5

Andaquies-Tardigrado - Updip Neme 450 45 0.2 0.35 1.15 11 0.30 3.3

Andaquies-Tardigrado-Backthrust2CAB 600 45 0.2 0.25 1.15 17 0.30 5.0

Andaquies-Lead E Neme 550 45 0.2 0.35 1.1 16 0.30 4.8

Andaquies-Lead E Caballos 550 45 0.2 0.25 1.15 17 0.30 5.1

Andaquies-Lead S Caballos 1800 45 0.2 0.25 1.15 40 0.30 12.0

Andaquies-Lead S Neme 1800 45 0.2 0.35 1.1 43 0.30 13.0

Andaquies-Marmota - Caballos Subthrust 1300 80 0.2 0.25 1.1 47 0.30 14.1

Andaquies-Cachalote Updip 450 50 0.35 0.25 1.15 21 0.30 6.4

Total 411 123.2

40

TACACHO

TACACHO GEOLOGY AND RESOURCES

Heavy oil on the Putumayo

Basin Fringe

• Very large prospects

– Heavy oil trend similar to

Llanos and ITT discovery

in Ecuador

– Challenging logistically

– Activity and spend in

2017/2018

Leads Area

(acres) Net pay

(ft) Phi (%) Sw FVF OOIP (MM bbl) RF

Resource MMbbl

Tacacho Norte 12480 53 0.20 0.35 1.1 606 0.20 121.0

Tacacho Sur 24756 53 0.20 0.35 1.1 1,203 0.20 241.0

Total 1,809

362

Amerisur (PDSA) Net Share 895 179

Resources – Pepino Only

41

PARAGUAY

PARAGUAY ASSET SUMMARY MAP

• San Pedro

– Coronel Oviedo, Lima, Santa Helena and

Cary potential reservoirs

– 460km 2D acquired

– Jaguareté-1 exploration well drilled in 2016

– Unrisked Resources – 620MMBO – under review

• Western Blocks (Las Palmas, Coronillo and

Espartillar)

– Yacoraite Fault Traps and Onlap (tilted

blocks and stratigraphic)

– Interpreting 1590 km reprocessed 2D seismic

No material Capex spend before end

2017

42

PARAGUAY

A TECHNICAL LOOK AT JAGUARETE-1 WELL

• Started on 22 April 2016

• Reached total depth of 8,626 ft

• Positive indications of oil and gas in

potential reservoir sections

• Drilled on budget and safely

• Target formations:

– Santa Elena

– Lima

– Both tight at this location

• Reservoir samples under analysis

• 18 month technical study (end 2017)

43

CSR

CSR AND COMMUNITY RELATIONS

We have been committed to intensive social work, creating productive and sustainable projects

Solar panels were

installed in the homes

of 300 families

Built a multi – function play and

meeting area

Built a classrooms and

sanitary/bathroom unit

A clean, potable water supply

was designed and installed

44

CSR

CSR AND COMMUNITY RELATIONS

45

SUMMARY – TOTAL ACTIVITY AND CAPEX PLAN TO END 2017

AMERISUR RESOURCES PLC / AMERISUR COLOMBIA

DRILLING CAMPAIGNCAPEX (TOTAL

AMER)OPERATOR W.I.

PLATANILLO: P-19 / Pad 3N 4,000,000 YES 100%



PLATANILLO: P-IF1 / Pad xN 4,000,000 YES 100%

PUT 12: PT-01 / Lead A 4,800,000 YES 100%

PUT 12: PT-02 / Lead A 3,600,000 YES 100%

PU8-1 3,750,000 NO 50%

PU8-2 3,250,000 NO 50%

COATI-2 4,800,000 YES 60%/100%

36,200,000

SEISMIC CAPEX (TOTAL

AMER)OPERATOR W.I.

SEISMIC COATI 12,000,000 YES 60%/100%

12,000,000

ADDITIONAL INVESTMENTCAPEX (TOTAL

AMER)OPERATOR W.I.

COATI-1 - LONG TERM TEST 1,000,000 YES 100%

1,000,000

AMERISUR RESOURCES PLC / PETRODORADO

DRILLING CAMPAIGNCAPEX (TOTAL

AMER)OPERATOR W.I.

CPO5-05 / EXPLORATORY-1 1,500,000 NO 30%

CPO5-06 / EXPLORATORY-2 1,500,000 NO 30%

3,000,000

46

FULLY FUNDED WORK PROGRAM TO PROFITABLY GROW PRODUCTION AND RESERVES

INVESTMENT CASE

Strong financial position

• Cash of $56.1m as at 30 June 2016

• Competitively priced RBL undrawn - $60m available

Low opex, high quality oil production from Platanillo

• 1P reserves of 15.2MMBO, 2P reserves of 23.7MMBO

• Targeting 2016 exit production rate of 7,200 BOPD

• Targeting 2017 average 7,500 to 8,500 BOPD

• Built and owns strategic OBA interconnector pipeline to RODA Ecuador

• Opex & Transport/bbl $15, operational netbacks $30 /bbl assuming $45 oil

Fully funded work program to increase production and reserves

• Contingent Resources: Platanillo 13MMBO; CPO5 13.39 MMBO

• Prospective Resources: Coati 23.2 MMBO; CPO5 39.08 MMBO

• 11 wells in next 15 months - 4 on Platanillo, 1 on Put-8, long term test at Coati, 2 on CPO-5,

Coati appraisal, additional Put-8 and 2 on Put-12

Exploration portfolio of more then 26 prospects and unrisked mean prospective resources of 518 MMBO

Experienced Board and management mainly based in Colombia

47 47

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.

Disclaimer

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ANALYST SITE VISIT