INVESTOR

PRESENTATION

FEBRUARY 2017

A Latin American Producer & Explorer

www.amerisurresources.com

2

IMPORTANT NOTICE

These presentation materials do not constitute or form part of any offer for sale orsubscription or any solicitation for any offer to buy or subscribe for any securities norshall they or any part of them form the basis of or be relied upon in connection with anycontract or commitment whatsoever. No responsibility or liability whatsoever isaccepted by any person for any loss howsoever arising from any use of, or inconnection with, these presentation materials or their contents or otherwise arising inconnection therewith.

These presentation materials may contain forward-looking statements relating to thefuture prospects, developments and strategies of Amerisur Resources plc (the"Company"), which are based on directors' current expectations and assumptions andinvolve known and unknown risks and uncertainties that could cause actual results,performance or events to differ materially from those expressed or implied in suchstatements. Each forward-looking statement speaks only as of the date of theparticular statement and, except as required by law or regulations to which theCompany is subject, the Company disclaims any obligation to update any suchforward-looking statement to reflect future events or developments.

Disclaimer

3

FULL CYCLE E&P LONDON AIM LISTED – BOGOTA CENTRAL OFFICE

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 system

Class leading transport costs

· 10 wells in next 12 to 18 months, fully funded, increase production, converting resources

into reserves and adding new reserves

· Diversify production base from 1 to 3 fields by end 2018

· Broad portfolio of longer term exploration assets

· Strong executive, technical and operational long term Amerisur team – 99.5% Colombian

• *OBA is “Oleoducto Binacional Amerisur” – the 10.8” line owned and operated by Amerisur which transfers oil from the Platanillo field through

the Ecuadorian RODA (Red de Oleoductos Amazonica) to the export point at Esmeraldas Ecuador.

4

INTRODUCTION

COLOMBIA OVERVIEW

• Strong democratic tradition, winning independence in 1819

• Produced an average of 885,000 barrels of crude oil per day in 2016

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

Defence and Finance Minister

• Rating S&P BBB Moody´s Baa2

• December 2016: peace deal signed between Government and FARC

– Result of four years of formal negotiations

– Has led to lower levels of violence, better security of infrastructure and

improved operating environment

– FARC forces now concentrated in 23 zones

• Putumayo – Las Carmelitas

• Presidential Elections 2018

5

WHY WE ARE WHERE WE ARE

WHY PUTUMAYO?

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

• First mover advantage in eastern Putumayo

• Big field potential in Colombian terms

• Under explored but with impressive success and offset data over the river

– Ecuadorian Oriente Basin – 490,000 BOPD

• Previous Constraints:

– Security

• Peace process – Physical Security is no longer a factor

– Isolation

• Amerisur road

• Increased Government regional spend – positive effects being felt now

• New solutions and technology - including fluvial transport of produced fluids

– High cost of transport to market - Trucking

• OBA – a unique advantage in safety, reliability, volume and costs

6

WHERE WE WILL BE

STRATEGY TO 2019

• Focus on Putumayo growth with a non-operated position in the Llanos basin

• Maximise value from producing assets

• Grow Production and OBA throughput

• Convert reserves into production – Infill drilling, efficiency & OBA

• Convert resources into reserves – appraisal and exploration drilling

• Broaden production base to at least 3 fields

• Advance light oil prospects first, closely followed by heavy oil

• Continue focused acquisitions in Putumayo which have strong strategic

fit

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

• Multiple financing options available to fund growth

7

STRATEGY

ECUADOR AND COLOMBIA FIELD DENSITY

Lightly Explored

Very Lightly Explored

Under Explored

8

INTRODUCTION

COLOMBIAN PUTUMAYO ASSET SUMMARY MAP

• Platanillo 100% Operator

• Coati 100 / 60%* Operator

• PUT-12 60% Operator

• PUT-9 40%**

• PUT-8 50%

• PUT-30 100% Operator**

• CPO-5 30%

• Andaquies 100% Operator

• Tacacho 49.5%

• Fenix 100% Operator

10 blocks

1,697,265 Ac Gross

920,502 Ac Net

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

• ** Subject to ANH approval

Platanillo

PUT 12

PUT 8

Andaquies

Coati

Tacacho

PUT 30

OBA

OBA

Cluster

A-30

Complex

Putumayo

Portfolio

PUT 9

9

OBA CLUSTER

PLATANILLO GEOLOGY AND RESERVES / RESOURCES

• Produced 7.68 MMBO to date

• U Sand Principal Reservoir – 31° API

• T Sand proven oil – Upside - 34 - 38° API

• N Sand proven oil – Upside -19° API

• 1P reserves of 15.2MMBO

• 2P reserves of 23.7MMBO

• Current production +/-4,400BOPD

• OBA in operation since 27.10.16

• Transport rate increased from 1,500 to 3,200

BOPD. Expected to increase through 5,000

BOPD in Q2

• 2016 exit production rate impacted by social

issues, but solution expected soon

• Plan to mobilise to Pad 2N for northern drilling

once issues settled

Well North Area 1

Well North Area 2

INFILL 9

INFILL 5INFILL 4

PAD 2N

PAD 3N

10

PLATANILLO – UPSIDE PROVEN IN N SANDPLATANILLO

Attribute analysis compelling and in line with

other local discoveries*

• Strong N sand development in central and

northern parts of the block – much stronger

than southern area (which produced 400BOPD)

• Optimum pads identified

• EIA study underway

• Plan to drill in Q4 2017

• Prospective resources 40.7 MMBO** P50

OBA CLUSTER

*Cohembi, Quinde, Quinde West (Put-7) ** Management estimates

Pad 2N

11

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. Fully developed in southern lobes

T sand Development Dual or re-completion once U sand depletes (U Sand well can produce T Sand)

Important prize, excellentreservoir– tested and proven

N sand Appraisal & Development

Seismic analysis indicates highpotential. EIA underway for 3 drilling pads

Estimated greater than 100MMBBL OOIP potential Target is to drill in Q4 2017

Appraisal of North Independent Closure

A pad to drill this structure will be licensed with the N sand EIA

Probably 2018

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, exploration of Put-9 associated structures first

OBA CLUSTER

12

OBA CLUSTER

PLATANILLO ACTIVITY PLAN AND CAPEX

• Drilling

– 2 infill wells –Platanillo-8 (400 BOPD IP), Platanillo-24 (480 BOPD)

– Up to 3 wells North Area (step out from Main Field – originally 2 planned)

• Platanillo-22 spud delayed by social protests. Expect resolution of issues soon.

– Capex $4MM per well

• Production

– Construction 10 KBO Tank PAD5

• Greater efficiency and flexibility for OBA feed

– Interconnection PAD5 – PAD9 Oil Transfer

• Construction to begin Q3

– Electric Interconnection PAD3 – PAD1

• Studies underway

– Workovers and recompletions

• Underway – Plat-20 recompletion (810 BOPD)

– Capex <$2.5MM

13

OBA PIPELINE OPERATIONAL

OBA CLUSTER

• OBA is operating, exporting Platanillo crude from Pad 9S to Amerisur facilities

in Victor Hugo Ruales Station from where crude is injected into RODA

• 3,200 BOPD currently

• Ramp up to 5,000 BOPD and beyond as de-bottlenecking advances in

Ecuador

14

OBA PIPELINE CAPACITY AND FUTURE STRATEGY

• Initial post-commissioning volume was ± 1,500 BOPD

• Agreed minimum contract volume 5,000 BOPD – building through 3,200 BOPD now

• Design Volume (OBA & VHR reception) 50,000 BOPD; 18,000 BOPD pumping

capacity currently installed

• Lago Agrio

• SOTE or OCP (segregated transport)

• Total capacity <260 kBOPD

• RODA currently 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 (Chiritza)

• Grow OBA throughput with focused investment – plans being agreed with PetroAmazonas

– Organically & Partner oil

– Bought in Crude & potential tariffs on Third Party Oil

OBA CLUSTER

15

OIL COMMERCIALISATION

OIL MARKER PRICES – 2013 TO 2017 (VOLUMETRIC COMPENSATION ESTIMATED)

16

OIL COMMERCIALISATION

TRANSPORT COSTS

17

OIL COMMERCIALISATION

TRANSPORT COSTS VS. PRICE

Average Price (November 2016 – January 2017)

18

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 4 MMBO* (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 >150 MMBO*

Programme – N Sand Anomaly Well

* Management estimates

19

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

PUT-9 Resources – 53.5 MMBO (P50 gross)*

* Management estimates

20

OBA CLUSTER

PUT-12 STRATEGY, ACTIVITY PLAN AND CAPEX

2D Seismic:

• Stage 1 - Underway

– West of block (nearest structures)

– 119.7 km

– EIA for Lead 1

• Stage 2 – 2017

– Eastern and southern areas

– 152.3 km

COLOMBIA

PLATANILLO PUT-12

Ecuador

Peru

Brazil

21

OBA CLUSTER

PUT-12 STRATEGY, ACTIVITY PLAN AND CAPEX

Initial Drilling Focus:

• Lead 1

– Proximity and similarity to Platanillo

Field – P50 106MBO*

– EIA studies Underway

– 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

22

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)

* Management estimates

23

OBA CLUSTER

COATI STRATEGY AND ACTIVITY PLAN

2016/2017 Programme

• Complete Consulta Previa

• LTT Coati 1 H2

• 3D seismic

– 2 programmes, Temblon &

Exploration Area

• Temblon Appraisal well 1

• US$7MM carry

37 Km² 3DExploration

Area

10.5 Km 2DExploration

Area

6

7

51

23

4

115 Km² 3DTemblon

Area

24

OTHER COLOMBIA ACREAGE

CPO-5 GEOLOGY AND RESOURCES

• New 3D data interpreted

• Objective rich with good seismic and

well data

• Costs reduced significantly

• 2 x A3 wells : June 2017 and

September 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

25

TACACHO

TACACHO GEOLOGY AND RESOURCES

Heavy oil on the Putumayo

Basin Fringe

• Very large prospects

– Heavy oil trend similar to

Llanos and ITT (Ecuador)

discoveries

– Scouting during 2017

Capex spend will be

pushed out to 2018

LeadsArea

(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

Platanillo

Put-12

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SUMMARY – TOTAL ACTIVITY AND CAPEX PLAN NEXT 12-18 MONTHS

AMERISUR RESOURCES PLC / AMERISUR COLOMBIA

DRILLING CAMPAIGNCAPEX (TOTAL

AMER)100% COST

PLATANILLO: P-19 / PAD 3N 4,000,000 4,000,000

PLATANILLO: P-21 / PAD 2N 4,000,000 4,000,000

PLATANILLO: P-22 / PAD 2N 4,000,000 4,000,000

PLATANILLO: P-IF1 / PAD xN 4,000,000 4,000,000

PUT 12: PT-01 / Lead A 4,800,000 8,000,000

PUT 12: PT-02 / Lead A 3,600,000 6,000,000

PUT 8-1 3,750,000 7,500,000

PUT 8-2 3,250,000 6,500,000

COATI-2 4,800,000 6,000,000

36,200,000

SEISMICCAPEX (TOTAL

AMER)100% COST

SEISMIC COATI - EXPLORATION AREA 2,550,000 8,000,000

SEISMIC COATI - DEVELOPMENT AREA 9,000,000 9,000,000

11,550,000

ADDITIONAL INVESTMENTCAPEX (TOTAL

AMER)100% COST

COATI-1 / LONG TERM TEST 1,000,000 1,000,000

1,000,000

AMERISUR RESOURCES PLC / PETRODORADO

DRILLING CAMPAIGNCAPEX (TOTAL

AMER)100% COST

CPO5-05 / EXPLORATORY-1 1,500,000 5,000,000

CPO5-06 / EXPLORATORY-2 1,500,000 5,000,000

3,000,000

27

ACTIVITY PLAN

10 WELLS IN NEXT 12-18 MONTHS

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017

PlatanilloSeismic analysisDrilling P-21, P-22, P-IF1

EIA N Sand Pads

Coati Complete Consulta PreviaLTT Coati 1Temblon & Exploration 3DTemblon Appraisal Well

Put-12Seismic Acquisition & processDrilling Lead 1, Lead 2 Plus 1 further well

Put-8Seismic analysisDrill 1 A3 well

CPO-5Drilling 2 A3 wells

Tacacho

Op

era

ted

blo

ck

sN

on

-op

era

ted

blo

ck

s

N-Sand seismic analysis

Drill P-21

Drill P-22

Drill P-IF 1

Consulta Previa

LTT Coati 1

Temblon 3D

Stage 1 2D seismic - West

Stage 2 2D seismic – East & South

Drill Lead 1 Drill Lead 2

Put-8 seismic analysis

Drill Put-8

Drill Temblon

Drill Mari 1 Drill Sol 1

Technical Studies

EIA N Sand

EIA Put 12

28

FULLY FUNDED WORK PROGRAM TO PROFITABLY GROW PRODUCTION AND RESERVES

INVESTMENT CASE

Strong financial position

• Cash of $51m 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 rising production through 2017

• 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: CPO5 13.39 MMBO

• Prospective Resources: Platanillo 57.8 MMBO Coati 23.2 MMBO; CPO5 39.08 MMBO

• 10 wells in next 12 -18 months – 3 on Platanillo, 1 on Put-8, 2 on Put-12, long term test at Coati, 2

on CPO-5, Coati appraisal well, and an additional Put-8 or Put-12 well

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

MMBO

£213m of value created by current management team - £294m market cap, £81.5m equity raised

Experienced management and technical team based in Colombia

29

ANNEXES

Additional Materials

30

ORGANISATION

OUR BUSINESS STRUCTURE

AMERISUR RESOURCES PLC

AMERISUR EXPLORACION

COLOMBIA LIMITED

PETRODORADO SOUTH AMERICA S.A.

AMERISUR EXPLORACION

COLOMBIA LIMITADA (Sucursal) PETRODORADO SOUTH

AMERICA S.A. (Sucursal)

Platanillo100%

PUT-30100%

PUT-1260%

CPO530%

Tacacho49,5%

Fenix100%

PLATINO ENERGY (BARBADOS) CORP.

PLATINO ENERGY (BARBADOS) CORP. (Sucursal)

Coatí100%

PUT – 850%

Andaquies100%

Tax Losses

USD$57MM

(approx.)

Tax Pools

USD$24MM

(approx.)

US$7MM US$7MM

PUT-940%

31

Gerente de

Geología y

Geofísica

Gerente Técnico y

de Operaciones

J. Velasco

Ingeniero Sénior

Operaciones

Producción (2)

Supervisores

de Producción

[6]

ControllerLíder 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

SeguridadIngeniero

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 CEO Amerisur

Resources Plc

John Wardle

32

AMERISUR PARTNERS IN COLOMBIA

Amerisur acquired Repsol WI in a cash transaction

33

OBA DE-BOTTLENECKING FOCUS

OBA CLUSTER

OCP > 250 kBOPD available

SOTE currently ± 10 kBOPD availableDe-bottleneck focus

34

PUTUMAYO-30 GEOLOGY AND POTENTIAL

34

A-30 COMPLEX

PlayArea

(acres)Net pay

(ft)Phi (%)

Sw FVFOOIP (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

35

A-30 COMPLEX

ANDAQUIES GEOLOGY

• 6 prospects and leads – all 2D

• 2 reservoirs

• OOIP – 263MMBO*

• Unrisked resource 73MMBO*

Programme – 1 well and Seismic

acquisition in 2017 - 2018

* Amerisur Internal Estimates

36

OBA CLUSTER

COATI GEOLOGY AND RESOURCES – STRUCTURE TEMBLON

* Management estimates

UnitÁREA (acre)

NET PAY (ft)

Phi (%) SW (%) FVOOIP (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

UnitÁREA (acre)

NET PAY (ft)

Phi (%) SW (%) FVOOIP (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

37

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

38

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 under negotiation (Las

Palmas, Coronillo and Espartillar)

– Yacoraite Fault Traps and Onlap (tilted

blocks and stratigraphic)

– Interpreting 1590 km reprocessed 2D seismic

No material Capex spend planned

39

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)

40

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 classrooms and

sanitary/bathroom units

A clean, potable water supply

was designed and installed

Social Management is the key to success with Peace breaking out

41

CSR

CSR AND COMMUNITY RELATIONS

Social Management is the key to success with Peace breaking out