AMER.L Regulatory News (AMER)

12th April 2011

Amerisur Resources Plc ("Amerisur" or the "Company")

Farm Out Agreement Fenix Contract

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce that it has entered into a Commercial Agreement with Reto Petroleum Limited Colombian Branch (Reto) under which Reto has the right to acquire a working interest in the Fenix Exploration and Production contract (100% owned and operated by Amerisur) in exchange for completing certain work programmes and investments.

Phase 1 of the agreement contemplates the drilling of 10 wells to appraise and develop the Isabel structure. These wells will be funded 100% by Reto. Once this work programme is completed to Amerisur´s satisfaction, the Company will cede a 20% undivided working interest in the Fenix contract to Reto, subject to regulatory approvals.

The drilling operations associated with Phase 1 must be completed within 18 months of the effective date of the agreement.

Phase 2 of the Commercial Agreement gives Reto the right, subject to satisfactory completion of Phase 1, to earn an additional 10% undivided working interest in the Fenix block in exchange for the funding (100%) of the acquisition and processing of a seismic programme of at least 75 line kilometres within the Fenix contract area. In the event that Reto does not exercise this right, they will fund 20% of this seismic programme.

Amerisur Exploracion Colombia, the Company branch established in Colombia will remain the operator of the contract. The effective date of the agreement is 6th April 2011.

John Wardle, CEO, said:

"I am very pleased to welcome Reto, whose principals have enjoyed great success in the Colombian E&P sector in the past and who bring a wealth of experience and background understanding to the Fenix contract. Your board believes this is a strong win-win deal for both parties, which will expose us to significant activity in the Fenix block without impacting upon progress or taking our focus away from our principal challenge this year, the development of the Platanillo asset. The terms of the agreement may also cover off our exploration commitments in the Fenix contract for the next two phases, which begin on 22nd April. Naturally this agreement also demonstrates the level of industry interest in Fenix, which we continue to believe has very significant potential. These work programmes will go a long way to defining and accessing that potential"

Competent person: Technical information in this announcement has been reviewed by John Wardle Ph.D., the Company's Chief Executive. John Wardle has 25 years' experience in the industry, having worked for BP, Britoil, Emerald Energy and Pebercan, and is a trained drilling engineer.

ENQUIRIES:

Notes to editors

About the Fenix block

The Fenix Contract is an Exploration and Production Contract held with the Agencia Nacional de Hidrocarburos of Colombia. The block is located in the Middle Magdalena Valley basin of Colombia and covers 24,116 hectares. Nearby oil fields include Bonanza, Provincia and Payoa. The Company holds 100% of the block through its Colombian branch. Amerisur´s first exploration well on the block, Iguasa-1 was drilled during October and November 2009. The second exploration well, Isabel-1 was drilled in March 2010. The contract is currently in the third exploration phase of 14 months which terminates on 21st April 2011. The exploration commitment for this phase was satisfied by the drilling of Isabel-1. The fourth phase of the Fenix Exploration Period has a duration of 14 months and the exploration commitment is the acquisition and processing of 50km of 2D seismic data and geological studies. Exploration phase 5 has a duration of 12 months and the work commitment is the drilling of an exploration well.

About Reto Petroleum Limited (Reto)

Reto Petroleum Ltd is a private Cayman Island company with a branch in Colombia which has explored for heavy oil in the Middle Magdalena Valley Basin. It's President, Dr.Keith Hewitt is an ex director of Emerald Energy Plc and a co-founder of Solana Petroleum Ltd.