CLEAR PATH TO SUSTAINABLE GROWTH

INVESTOR PRESENTATION
FY18 Results
APRIL 2019

A Colombian Producer & Explorer

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www.amerisurresources.com
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.

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STRONG BALANCE SHEET AND FLEXIBLE SPENDING

AMERISUR - A COMPELLING INVESTMENT CASE

1) Debt Free Growth – Not Putting Balance Sheet at Risk

YE18 Cash $44m; FY19 Capex (~$35m) Funded From Cash/ Cash Flow ($43/bbl net back post royalty in FY18)

2) Colombia Focus – Low Cost Onshore Oil, Move Discoveries to Production

Deep local insights - CEO based in Bogota (26 years in-country)

3) Strategic Deal with Occidental Petroleum to fund five wells and seismic
Industry Endorsement from a big player ($50bn market cap) active in Colombia for decades

4) Active Drilling Programme - up to 10 Exploration/Appraisal wells in 2019

Targeting over 145 MMBO gross prospective resources

5) Shareholder Alignment / Board Renewed Full Compliance with QCA code

CEO/Board invested around £1.4m in past 6 months; ~5% management ownership

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EXPLORING PROVEN BASINS

WHY COLOMBIA

1) Low Cost, Onshore Oil, in Proven Basins with Established Infrastructure

Brent Linked Pricing

Six Major Pipelines Connecting to Atlantic and Pacific Markets

2) Political Stability; Business Friendly

Invited to become a member of the OECD in May 2018

2016 Peace Deal ended conflict with FARC

President Duque Elected in 2018 – Reinvigorating Colombia’s Upstream Sector

3) Established Oil Industry with Competitive Fiscal Terms

National Production of 860,000 BOPD over 500,000 BOPD exported; around 400 active fields

Stable Fiscal Terms – Sliding Scale Royalties; Recent launch of new licensing system for future blocks

Mature In-Country Oilfield Services Industry

High Standard of Regulatory Oversight

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 YEAR END 18 2P RESERVES INCREASED 24%

GROWING AND DIVERSIFYING RESERVES BASE

2P Reserves Increases – 25.6 MMBO YE18

Field 1P 2P 3P
Indico 5.3 6.8 10.0
• CPO-5 – Indico and Mariposa Discoveries – Both Producing Llanos
Mariposa 0.7 0.9 1.3
Platanillo 11.6 17.5 20.2
• Platanillo – reserves maintained Putumayo
Mecaya 0.3 0.4 0.5
17.8 25.6 31.9
• Reserves split 30/70 between Llanos and Putumayo Basins

31.9 MMBO YE18 3P Reserves

30% Llanos/70% Putumayo
Possible – 6.3
2P at YE 2017 20.7
- Production 2.0
Probable – 7.8
+ 2P Reserves 6.9
2P at YE 2018 25.6
*
2P Reserves Replacement Ratio 343%
Proven – 17.8

2P Reserves life Index >12 years **

* Calculated based on FY18 2P reserves increase divided by FY18 production

** Calculated based on YE18 2P reserves divided by FY18 production
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 ACTIVE EXPLORER

2019 DRILLING PROGRAMME: UP TO 10 EXPL/APP WELLS PLANNED

Expl/App Infill Seismic

Llanos Basin

CPO-5 Up to 6 wells - 3D

Putumayo Basin

Platanillo - 1 well + 2ST -

PUT-8 1 well - 3D

PUT-9/-12 1-3 wells -

CPO-5
Tacacho - - 2D

Terecay - - 2D

Drilling plan remains dynamic depending upon results Plat, PUT-8,-9,-12, COLOMBIA
Tacacho, Terecay

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 MOVING DISCOVERIES ONTO PRODUCTION

BLOCK CPO-5 - SURROUNDED BY RECENT MATERIAL DISCOVERIES

• Discovery to Production: Mariposa
and Indico discovered in 2017/18,
Working interest
together produce ~8,000 BOPD
30% GARIBAY
(gross).
CORCEL LLA-34
TIPLE

• Follow on Opportunities:
Acres GUATIQUIA
CABRESTERO Discoveries opened up other
492,352 Mariposa prospects in the same LS3 play

2P Reserves (MMBO)*
Índico
LLA-86
• Proven Plays: Further play types to
CPO-5
be tested through 2019/20 proven
25.11 LLA-94
by discoveries in surrounding
Prospective (MMBO)**
ONGC Videsh 70% (Op), AMERISUR 30%
acreage
49.3 VALDIVIA-ALMAGRO
Discoveries • Nearby Success: CPO-5 is
CPO-10 LLA-66
CPO-11 Prospects immediately south of the prolific
Land Map from ANH, December 2018
LLA-34 block and east of the
Corcel and Guatiquia blocks.

* Preliminary results of independent reserves report, gross 2P technical reserves at Indico-1X and Mariposa, McDaniel and Associates Consultants Ltd
**Mean gross prospective resources associated with the LS3 structural play in the area of Indico and Mariposa which are the targets of upcoming drilling programme, McDaniel and
Associates Consultants Ltd 7
 DISCOVERED DECEMBER 2018, PRODUCING JANUARY 2019

INDICO DISCOVERY – PROVEN RESERVES, FURTHER UPSIDE

1P Reserves (MMBO)*

17.76
• Material Upside – 2019
2P Reserves (MMBO)
appraisal drilling has the
22.7 potential to expand 1P, 2P and
3P Reserves (MMBO)**
3P reserves

33.3
• No Oil Water Contact – Lowest
Known Oil covers only 25% of
Structural Closure

Indico Discovery Highlights

• 283 feet gross oil column in LS3 sand package, high quality reservoir up to 4,300 mD
• Producing around 5,000 BOPD (gross) on natural flow; Indico-1X 5.9 MMBO estimated EUR

McDaniels CPR, Jan 2019

*Gross, certified to LKO 8
** Gross, assuming OWC at LKO plus 40 feet
 PUTUMAYO - OCCIDENTAL FARM-IN - ACCELERATES PLANS TO UNLOCK >500 MMBO

STRATEGIC POSITION IN PUTUMAYO – 2m GROSS ACRES, OBA Pipeline

PUT-14 Mecaya
PUT-9

560 MMBO Gross Prospective Resources

PUT-12

Putumayo
Basin

Terecay

ECUADOR

OBA Pipeline Connects Putumayo to Tacacho

underutilised Ecuadorean Pipeline Network

Industry Endorsement - Occidental $50bn market cap company, active in Colombia for four decades

Funding - $93m carry to fund exploration campaign; five fully funded wells and 85% of 878km 2D seismic

Utilise OBA – OBA pipeline; Final Certification for 3rd Party oil H1/19, 9,000 BOPD min throughput

Expanding Footprint – Added PUT-14 and Increased interest at PUT-8

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 OPPORTUNISTIC ACQUISITIONS

ACQUISITION STRATEGY HAS DELIVERED SIGNIFICANT BENEFITS

Used balance sheet strength to make

accretive acquisitions

Established a material resource base

over 800MMBO gross prospective
resources

Pacific E&P Acreage, acquired Mar 2017 for

$4.8m, adding 321 MMBO
Talisman Acreage, acquired Dec 2016 at zero
cost, adding 245.9MMBO
Platino Energy, acquired Jan 2016 for $7.6m,
adding 190 MMBO
Petro Dorado SA, acquired June 2015 for $6m,
adding 131.3MMBO

AMERISUR HAS CREATED $367M VALUE THROUGH THESE TRANSACTIONS

* 33% of total value of tax losses acquired ($57m from Petro Dorado South America, $24m from Platino Energy)
** McDaniel and Associates 10
CASH FLOW FUNDED

FY18 CASH FLOW BRIDGE ($M)

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RENEWED BOARD, COMPLIANCE WITH QCA GUIDELINES

Full compliance with Quoted Companies Alliance Code

Website Disclosure
New Auditor Appointed

Social Investments
Implementing UN verified Sustainable Alternative Farming Programmes
Investing in Local Education, Recreation and Sustainable Productive Projects

Renewed Board
Consisting of CEO, CFO and four Non Executive Directors (three appointed in past 12 months)

Alignment with Shareholders

In last 6 months Directors have bought almost £1.4m stock
Management Ownership around 5%

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APPENDIX

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 BOARD AND MANAGEMENT ALIGNED TO SHAREHOLDERS

• Amerisur Resources Directors hold 4.9% of the share capital

• £1.42m worth of shares purchased by the current Board since May 2018

Director Date Value of shares purchased

John Wardle, CEO* January 2019 £75,000

Dana Coffield, NED January 2019 £84,000

John Wardle, CEO* November 2018 £90,000

Giles Clarke, Chairman November 2018 £69,000

John Wardle, CEO* November 2018 £1,000,000

Chris Jenkins, NED November 2018 £18,000

Elodie Grant Goodey, NED November 2018 £5,000

John Wardle, CEO* May 2018 £80,000

*Shares purchased by Tracarta Limited, a company in which John Wardle has an interest 14