INTERIM RESULTS PRESENTATION 25 SEPTEMBER 2017 JOHN WARDLE NICK - PowerPoint PPT Presentation

INTERIM RESULTS PRESENTATION 25 SEPTEMBER 2017 JOHN WARDLE NICK HARRISON A Latin American Producer & Explorer www.amerisurresources.com 1

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

COMPANY OVERVIEW – INVESTMENT HIGHLIGHTS E&P COMPANY FOCUSED ON THE UNDER-EXPLORED PUTUMAYO REGION Experienced Board and management team Strong, in-country management / operational team • Owner and operator of strategic export infrastructure, the OBA, delivering world-class operating margins at $15/bbl opex and significant production growth potential Reliable, low cost route to commercialisation with technical capacity of 50,000 bbl/d to support future • growth Extensive licence portfolio delivering exploration success, value creation & significant future drilling news flow Opportunistic resource growth via corporate and asset acquisitions during the down cycle • Up to 16 fully funded exploration and development wells planned in the next 18 months • 1,497 MMBO unrisked resources • Robust financial position $29m cash at 30 June 2017, debt free, significant tax losses and positive operating cash flow • 3

COMPANY OVERVIEW EXPERIENCED COLOMBIAN OPERATOR Market Statistics Andaquies (Operator) Working interest: 100% Symbol (AIM) AMER Mecaya Working interest: 58% Put-9 (Operator) Put-30 (Operator) Working interest: 100% Market Capitalisation Working interest: 100% £197m Terecay (Operator) (close 22 Sept 2017) Platanillo (Operator) Working interest: Working interest: 100% 100% * OBA pipeline Operational Statistics Tacacho (Operator) Put-8 (Vetra Operator) Working interest: 2P Reserves 24.5 mmboe Working interest: 50% 100% Average Daily Production * 5,834 BOPD Coati (Operator) Put-12 (Operator) (August 2017) Working interest: 100% Working interest: 60% Temblon field, 60% 2017 Target Exit Production 7,000+ BOPD exploration area Netbacks at $45 oil $30/bbl MIDDLE MAGDALENA Built and owns strategic OBA transfer line to Ecuador Pacific Ocean Fenix LLANOS Working interest: 100% In process of Relinquishment Portfolio PUTUMAYO Size 12 blocks, 984,000 Ha (Gross) COLOMBIA ECUADOR CPO-5 Prospects 26+ identified Working interest: 30% BRAZIL Resources PERU 1,497 mmbo (Unrisked) 4 *Some interests awaiting approval by ANH

BOARD and MANAGEMENT STRENGTHENED AND REFRESHED BOARD AND MANAGEMENT TEAM Board: Giles Clarke, Chairman John Wardle, CEO Nick Harrison, CFO Stephen Foss, NED Douglas Ellenor, NED Recently appointed Directors: Chris Jenkins, NED Dana Coffield, NED Alex Snow, SID In country team: Hernan Antolinez Carlos Martinez Johnnie Velasco Fernando Rueda Edgar Herazo Geological Manager Country Manager Operations Manager Financial Manager Production Manager 5

OUR STRATEGY DELIVERING GROWTH THROUGH FOCUSSED PRODUCTION INCREASES AND EXPLORATION SUCCESS Leveraging our strategic position in the Growing our low cost production base Putumayo basin through the drill bit and OBA throughput Half-year Production Growth (BOPD) 2017-2018 FOCUS 6000 5000 Platanillo 4000 Working interest: 100% Put-9 (BOPD) Size: 11,119.4 Ha 3000 Working interest: 100% Size: 49,150,5 Ha 2000 * OBA pipeline 1000 Delivering improved reliability 0 and economics 2016 H1 2016 H2 2017 H1 2017 H2 Achieved Estimated * OBA Throughput (Quarterly) Put-8 Put-12 600,000 Working interest: 50% Working interest: 60% Size: 41,604,6 Ha Size: 54,434 Ha 500,000 (BO) 400,000 300,000 200,000 100,000 0 Q4 2016 Q1 2017 Q2 2017 Q3 2017 (est) Q4 2017 (est) 6

THE OBA – STRATEGIC EXPORT INFRASTRUCTURE OBA – PIPELINE CAPACITY AND FUTURE STRATEGY 6,332 September average BO $15 OPEX/BL @ operational days to date 7,000 BOPD OBA export achieved (including transport costs) Throughput increase strategy Short Term: Chiritza re-pumping station • 3 rd export pump in Colombia to • increase throughput to 1,200BOPH and redundancy VHR spares & generation • Cuyabeno pumps, metering • Result: 10kBOPD+ available capacity • Medium Term: Cuyabeno Connection from Roda to Andes line • at Km22 (30 kBOPD available capacity) Chiritza Long Term: RODA twinning or direct line to Lago • Agrio 7

CONTINUING WORK PROGRAMME 18 MONTHS WORK PROGRAMME, FULLY FUNDED AT $45 OIL FOCUSSED ON CORE OBA AREA Platanillo: (Amerisur 100%, Operator) Significant upside potential: U and T Sand development – Pad 2N • Put-9 N Sand central anomaly • Working interest: 100% Work programme 5 wells - 2 development, 1 exploration, 2 appraisal CAPEX $24.5m Platanillo Put 9: (Amerisur 100%, Operator) Working interest: 100% Unrisked resource: 53.5 MMBOE CPO-5 OBA pipeline Work programme: 3 wells * Working interest: 30% CAPEX $17m Objective is to tie back all oil to the OBA Put-12: (Amerisur 60%, Operator) Unrisked resource: 211.9 MMBOE (gross) Work programme 3 wells CAPEX $11m * Put-8: (Amerisur 50%) Put-12 Working interest: 60% Unrisked resource: 26MMBO (gross) Put-8 Work programme: 2-3 wells Working interest: 50% CAPEX $10.5m CPO-5: (Amerisur 30%) Unrisked resource: 142.3MMBO (net) Work programme 2 wells and LTT CAPEX $5m 8

MAP OF ACQUISITIONS SUCCESSFULLY DELIVERED ACCRETIVE STRATEGIC ACQUISTIONS Pacific parent company restructured in Canada. June 2015: Petro Dorado South Mar 2017: Pacific Exploration & Amerisur made unsolicited approach and America SA Production subsidiaries offered a direct negotiation. 4 out of 6 Putumayo Price paid: $6m blocks selected. $4.25m outstanding farm in Price paid: $4.85m (Net $600k) Tax losses: $57m ($20m Net) MANAGEMENT’S ACTIONS payment (PDSA to Pacific) cancelled by this Andaquies Unrisked prospective resources: 321MMBO transaction. Achieved 100% in Put-9 and key Unrisked prospective resources: 131.3MMBO $/bl of prospective resources: ± ZERO position in eastern Putumayo $/bl of prospective resources: NEGATIVE Jan 2016: Platino Energy Price paid: $7m Repsol acquired Talisman and decided to exit Tax loses: $24m ($8.4m Net) Farm Out:+$7m COLOMBIA Putumayo. Opportunistic offer. Key starter Unrisked prospective resources: 190MMBO PUT 30 position in Put-9 plus outstanding 50% of Put-30 $/bl of prospective resources: NEGATIVE Dec 2016: Talisman LLANOS Mecaya Terecay Price paid: minimal costs Unrisked prospective resources: 245.9MMBO Private owner decided to exit Putumayo. Opportunistic offer. Subsequently farmed out a further 20% of Coati Exploration area for $7m Platanillo work commitment. Tax losses $8.4m Net to PUT 9 Amerisur. Key position in Put-8 Coati PUT 8 PUT 12 Exploration failure and tightening markets led PetroDorado to seek a buyer. Amerisur rejected 3 of 5 blocks, acquiring only CPO-5 (Mariposa Tacacho light oil discovery) and key block Tacacho (49.5%) 9

FINANCIALS Operating netback per barrel ($) Cashflow H1 2017 50 1m 5m 8m 45 16m 42m 40 35 11.2 29.6 30 1m 29m 25 20 15.8 15 12.9 10 11.4 5 4.8 0 Brought EBITDA Other w/c Asset Capex Tax/financing Cash at 30 FY 2016 H1 2017 forward cash movements acquisitions June 2017 Operating netback Operating costs Transport costs Jan 17 Revenue per barrel - 2016 & 2017 EBITDA H1 2017 60 45 40 50 35 30 40 25 US$ 30 20 15 20 10 10 5 0 0 Sales Operating Royalties Transport High prices Admin EBITDA H1 Jan-16 May-16 Aug-16 Nov-16 Mar-17 Jun-17 costs costs tariff costs (UK & 2017 Colombia) Revenue per barrel Average Brent oil price 10 Average selling price approx. at a $4.5 discount to Brent

PRODUCTION PRODUCTION 2017 production H1 2017 average production • 10,000 of 4,475 BOPD 9,000 Average production for 8,000 • 7,000 August 5,834 BOPD PRODUCTION 6,000 BOPD 5,000 FY 2017 exit rate of +7,000 • 4,000 BOPD driven by increased 3,000 production from the ongoing, 2,000 low-cost drilling programme 1,000 at Platanillo and CPO-5, 0 delivering FY 2017 average production of 5,000 BOPD 7,000+ 2017 exit production Focus is to increase • production to 20,000 BOPD in the medium term 6,300 Diversifying production base • from 1 to 3 fields by end of 2018 Production to fund • exploration programme 11