1. UK-Paraguay Trade and Investment Forum www.amerisurresources.comwww.amerisurresources.com – a Latin American Producer and Explorer November 2014

2. 2 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

3. Overview Amerisur in Summary 3 Full cycle, approved Operator Full cycle, approved Operator Successful Explorer and Developer Successful Explorer and Developer Substantial proven reserves Substantial proven reserves Growing production Growing production Developing regional infrastructure Developing regional infrastructure Strong Balance Sheet coupled with low cost, efficient operations and high net back Strong Balance Sheet coupled with low cost, efficient operations and high net back Large upside within proven assets Large upside within proven assets Exciting low risk step out exploration base Exciting low risk step out exploration base High impact exploration in Paraguay High impact exploration in Paraguay

4. Introduction Amerisur in Summary 4 Colombia Producing field Platanillo located in the prolific Putumayo basin Exploration block Put-12 directly to east of Platanillo (60% working interest) Fenix block (100% working interest), in the Middle Magdalena Basin to the North of Colombia Put-30 50% WI H1 2014 Production of 6,561 BOPD – Pipeline to Ecuador under development 1P field reserves 19.8MMBO, 2P reserves of 32.8 MMBO* Net mean resources of 235 MMBO** Paraguay Transformational potential in Paraguay - Extensive acreage position in Paraguay comprising two E&P and three Prospecting permits Active low cost exploration programme continues – Seismic, Gravity, Aeromagnetics Jaguareté-1 High Impact Well Q1 2015 - resources estimated at 685 MMBO** Finances H1 2014 Revenue US$114.1MM (H1 2013 US$64.4MM) Cash of US$96 MM as at 29 September 2014 cash flow and resources Exploration and development funded from cash flow and resources Curupayty E&P San Pedro E&P Espartillar Permit Coronillo Permit Las Palmas Permit Brazil PARAGUAY Bolivia Argentina Peru Brazil Ecuador Pacific Ocean Caribbean Sea Venezuela COLOMBIA PLATANILLO FENIX PUT-12 *As at 31 December 2013 ** Net Unrisked Management Estimates

5. A full cycle E&P company Amerisur in Summary 5 Production Development / Appraisal Exploration Current production of ±6,500 BOPD from the Southern/Central lobe of Platanillo 2014 H1 avg. production 6,561 BOPD Total Field production to date 4,271,605 BO* Field reserves 1P 19.8MMBO, 2P of 32.8MMBO** Ecuadorian export connector will drive down costs and increase volumes U and T Sand 5 to 7 well drilling campaign in Platanillo in 2014 - U and T Sand 2P 1P & Resources Reserves (Pad 2N & Northern structures) Platanillo resources 35MMBO** T Sand now established producer (Plat-20 and soon Plat-10) N Sand (proven stratigraphic trap) reserves additions at end 2014 Potential to add material reserves at Platanillo – Libélula-1, Northern structures, Independent closure, Northern 3D Seismic initiated Put-12 – same geology but 5 times bigger than Platanillo – Mapping currently indicates 200 - 480MMBO*** of potential resources Put-30 Neme tertiary Heavy Oil play Potential game changer well in Paraguay – San Pedro 460km 2D completed – Drilling Q1 2015 – 685 MMBO** potential resources *As at 30 September 2014 **As at 31 December 2013 *** Net Unrisked Management Estimates

6. 6 Production and Reserve Growth Platanillo – Production Performance Year End Audited Reserves

7. 7 Paraguay from an Oil and Gas Perspective Paraguay Overview Geological No commercial discoveries to date 5 sedimentary basins – large area Under explored – data density very sparse Operational Lack of Hydrocarbon infrastructure Good physical infrastructure (except far west) Contractual Established Governmental entities with clearly defined roles Appropriate Government take Business focused administration

8. 8 Paraguay – The opening of a new Petroleum province Paraguay Overview Basins shared with adjoining petroleum producing regions Excellent contractual terms Significant increase in interest and activity – serious players Recent announcement of discovery President Petroleum PetroPar YPF YPF A AA A A

9. 9 Our work suggests that all necessary conditions are present for a commercial hydrocarbon discovery Paraguay Operations Our work suggests that all necessary conditions are present for a commercial hydrocarbon discovery Paraguay Overview Brazil Paraguay Bolivia Argentina Curupayty Permit San Pedro Permit Espartillar Permit Coronillo Permit Las Palmas Permit San Pedro – Coronel Oviedo, Lima, Santa Helena and Cary potential reservoirs – 460km 2D acquired – Jaguareté-1 exploration well in Q1 2015 – Unrisked Resources – 620MMBO Western Blocks (Las Palmas, Coronillo and Espartillar) – Yacoraite Fault Traps and Onlap (tilted blocks and stratigraphic) – Interpreting 1590 km reprocessed 2D seismic Curupayty – Non Conventional potential in Los Monos thick Devonian Shales – Under technical / economic review

10. San Pedro Block – Paraná Basin 2 Wells drilled by Shell Pecten - off structure or low on structure Indications of residual oil with gas shows Strong Geochemical surface signatures New seismic (Jan 2014) confirms structural model 10 San Pedro – Wildcat but with Offset Data and remote studies

11. San Pedro Block – Paraná Basin 11 San Pedro – Solid Structures LEAD 1 LEAD 2 LEAD 3 20% of Block area shown Jaguaretè-1 Jaguarete-1 ± US$14MM Potential Resources ± 700MMBO

12. 12 Paraguay West – Yacoraite Onlap according to Gravity Mapping West Blocks Paraguay Yacoraite onlap Our play concept is focused on the edges of the basin, where the tilted Palaeozoic fault blocks may create major traps, charged from the down-dip central basin kitchens in the Cretaceous source rocks of the Yacoraite group, with potential additional charge from Devonian source

13. 13 Paraguay West Overview – Geo-Seismic Section and Play Concept Argentina Analogue Paraguay Overview Hydrocarbon generation in the deeper cretaceous source rocks, with potential for additional Devonian sourcing Tilted Palaeozoic Fault Blocks at basin edges Migration Route N S

14. 14 Paraguay West Overview – Reprocessed seismic supports gravity model Paraguay Overview NS LAS PALMAS BLOCK Possible Yacoraite On- Lap Yacoraite Devonian

15. 15 Summary – Exciting times in Paraguay Attractive and stable environment for investment Reasonable Contractual and Fiscal terms Exciting upside with large but unproven potential Operations are challenging but feasible Amerisur Forward Programme Drilling of Jaguaretè-1 in early 2015 2,000km of new Seismic Acquisition in the West during H1 2015 Summary