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A Latin American Producer & Explorer

www.amerisurresources.com

NDR

PRESENTATION

15-18 MAY 2018

JOHN WARDLE

NICK HARRISON

CASH GENERATION

BALANCE SHEET

EXPLORATION UPSIDE

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These presentation materials do not constitute or form part of any offer for sale or subscriptionor any solicitation for any offer to buy or subscribe for any securities nor shall they or any partof them form the basis of or be relied upon in connection with any contract or commitmentwhatsoever. No responsibility or liability whatsoever is accepted by any person for any losshowsoever arising from any use of, or in connection with, these presentation materials or theircontents or otherwise arising in connection therewith.

These presentation materials may contain forward-looking statements relating to the futureprospects, developments and strategies of Amerisur Resources plc (the "Company"), whichare based on directors' current expectations and assumptions and involve known andunknown risks and uncertainties that could cause actual results, performance or events todiffer materially from those expressed or implied in such statements. Each forward-lookingstatement speaks only as of the date of the particular statement and, except as required bylaw or regulations to which the Company is subject, the Company disclaims any obligationto update any such forward-looking statement to reflect future events or developments.

DISCLAIMER

IMPORTANT NOTICE

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FOCUSED ON OUR ADVANTAGES

1) BALANCE SHEET AND CASH GENERATION

Strong cash position of $41.3m with zero debt and low

cost production generating significant cash flow from

operations

In 2017, opex and transport costs sub $20/bbl - trending

lower

2) EXPLORATION PORTFOLIO

Extensive acreage position in the underexplored

Putumayo region with up to 14 fully funded exploration

and development wells planned in 2018

3) INFRASTRUCTURE

Wholly owned strategic OBA oil transfer line into Ecuador

4) REGIONAL EXPERTISE

Experienced in-country team with a strong track record

of success

EXPERIENCED COLOMBIAN OPERATOR

COMPANY OVERVIEW

* Prospective, mid estimate, net to Amerisur

* *

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2017 PERFORMANCE

2017 FINANCIAL RESULTS

2017 2016

Average production 4,857 BOPD 3,081 BOPD

Exit production 6,951 BOPD 4,071 BOPD

Average OBA throughput 4,440 BOPD 1,129 BOPD

# production fields Two O One

# of wells drilled Seven T Two

# of Colombian blocks Eleven Eight

Revenue $92.5m $47.2m

Net cash flow generated $30m -$3.3m

Cash opex and transport $18.6/bbl $24.9/bbl

2P reserves 20.70 MMBO 24.47 MMBO

2C resources 35.49 MMBO -

Prospective resources 1,376 MMBO 1,134 MMBO

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RESERVES

RESERVES

24.47

20.70

0

5

10

15

20

25

YE 2016 2P

reserves

2017 Production EUR Re-mapping CPO-5 Mecaya YE 2016 2P

reserves

MM

BO

Platanillo Platanillo PlatanilloYE 2017 2P

reserves

-1.76

-0.96-2.82

1.30 0.45

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DOWNTURN USED TO STRENGTHEN FOUNDATIONS

ACQUISTIONS

• Cash at year end of $41.3m and a $35m working capital facility agreed in April 2018• Significant increase in resource base at low cost

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Platanillo N Sand

11.44 MMBO

CPO-5

5.1 MMBO

Putumayo 8

5.63 MMBOPutumayo 9

37.8 MMBO

Putumayo 12

71.56 MMBO

2018 FULLY FUNDED WORK PROGRAMME

2018 WORK PROGRAMME

TARGETING 131.53 MMBO*

CAPEX OF $61M

Unrisked prospective resources net to Amerisur, mid estimate

Platanillo N Sands (3 wells)

$11m

Platanillo (civil

works and other)

$2.7m

CPO-5 (3 wells)

$6m

Putumayo 8 (2 wells &

civil works)

$8.2m

Putumayo 9 (3 wells

& civil works)

$19m

Putumayo 12 (3 wells &

civil works)

$14.4m

BLOCK 2018

Q2 Q3 Q4

Platanillo (civil works)

Platanillo N sands (drilling 3

wells, Pintadillo-1 and 2 further

wells))

CPO-5 (drilling 3 wells)

Putumayo 8 (drilling 2 wells &

civil works)

Putumayo 9 (drilling 3 wells &

civil works)

Putumayo 12 (drilling 3 wells &

civil works)

TIMING:

• The above timing is subject to change, regulatory and permitting approval and

drilling success

* Net to Amerisur, prospective resources, mid estimate

DELIVERING SUSTAINABLE GROWTH

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OBA CLUSTER

100%Working interest

37.7

Prospective (MMBO)*

• Building of a 3.8 km

access road and six

well pads, with up to

seven wells per pad

commenced

• Three-well drilling

programme

• The first well,

Pintadillo-1, is one of

four such anomalies

identified in the

central part of block

targeting estimated

P50 resources of 11.44

mmbo

PLATANILLO – N SANDPlatanillo block

N Sand anomalies

* Mid estimate

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30%

Working interest

492,352

Acres

0.77

Contingent (MMBO)**

40.58

Prospective (MMBO)**

1.3

2P Reserves (MMBO)*

• Lower sands (Une) light oil play to

the south-east of the Corcel fields

and Mariposa discovery

Work plan:

• Three-well drilling programme

• Drilling of Indico-1, targeting an

updip section of the Mariposa play

on the Lower Sands, planned for

Q3 2018

• Followed by the drilling of two

further wells Aguila and Sol

• Pressure Build Up analysis of

Mariposa-1 indicates that

additional perforations may further

improve the flow characteristics of

the well. This operation is under

consideration by the partners

CPO-5

Source: Company, Geopark, Parex

** Net to Amerisur, mid estimate

* Net to Amerisur

LLANOS

CPO-5 – PROSPECTS TO BE DRILLED

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LLANOS

• Llanos 34 and Cabestrero

blocks demonstrate

continuity of traps on a NE-SW

trend – shown to be at least

30km long to date

• Llanos 34 – over 50 MMBO

produced to date,

approximately 55,000 bopd

• Tigana and associated fields

are trapped by relatively

small and subtle synthetic

(down to the basin) faults

• Drilling activity this year is

focused on different structure

types, proven by Mariposa-1

(compression structures)

• The Company believes the

synthetic Guadalupe trap

may extend into CPO-5

CPO-5 – KEY ACREAGE IN THE MOST IMPORTANT LLANOS TREND

Source: Company, Geopark, Parex

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PUTUMAYO-8 – BETWEEN OILFIELDS

• * Net to Amerisur, mid estimate• ** “Look Up”• *** The Great Potoo, common in the area• **** “Well Placed”

50%

Working interest

102,799

Acres

16.27

Prospective (MMBO)*

• Borders Platanillo to the

West

• Two-well drilling programme

• Miraparriba-1, a directional

well to the Miraparriba**

structure to spud in June

2018

• Second well may target

Nyctibius (3)*** or

Bienparado (2)****

OBA CLUSTER

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PUTUMAYO-12 & 9

OBA CLUSTER

60%Working interest

134,509

Acres

224.71

Prospective (MMBO)*

PUTUMAYO-12

• Similar geology to Platanillo

• 2D Seismic acquisition now underway

• Three-well drilling programme

• Coendu - proximity and similarity to

Platanillo

• Maracaya - Appears to be

continuation of Blanca Field in

Ecuador

• Prospect 3 - Trap door structure,

large area, potential Stratigraphic

component

• Targeting unrisked mean gross

prospective resources of 106

MMBO, 47 MMBO and 82 MMBO

respectively

• To commence in Q3 2018

* Net to Amerisur, mid estimate

100%

Working interest

121,453

Acres

64.43

Prospective (MMBO)*

• Three-well drilling programme

• 2D Seismic acquisition now underway

• Expected to commence in Q4 2018

• Targeting 30 MMBO

PUTUMAYO-9

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EXTENSIVE ACREAGE POSITION

FUTURE UPSIDE

Blocks (Amerisur WI) 2P reserves

(MMBO)

2C resources

(MMbbl)

Unrisked

prospective

resources

(MMbbl)

Platanillo (100%) 18.95 37.70

CPO-5 (30%) 1.3 0.77 40.58

Mecaya (58%) 0.45 2.26

Coati (100%) 34.72 26.72

Putumayo -8 (50%) 16.27

Andaquies (100%) 38.02

Putumayo-9 (100%) 64.43

Putumayo-12 (60%) 224.71

Putmayo-30 (100%) 337.66

Terecay (100%) 223.74

Tacacho (100%) 363.93

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CORPORATE SOCIAL RESPONSIBILITY

OUR LICENCE TO OPERATE

Having been present in the Putumayo basin for eleven years, Amerisur is one of the largest investors in the region and is

committed to delivering sustainable long-term growth in a safe and responsible manner, complying with all applicable

laws and regulations.

'Sustiticion de Cultivos Ilicitos - illegal crop substitution programme'

• The Government's 'illegal crop substitution programme' compensates farmers for

the eradication of their coca crop.

• Amerisur has been providing local farmers in seven villages in the Putumayo

region with pepper plants and farming skills such that they can swiftly make the

transition to a more socially desirable and profitable crop.

• Black Pepper is a high demand crop in Colombia and provides a steady

income.

Helping to end water poverty

• Amerisur has helped to reduce water poverty in the Platanillo region, making water

safe to drink with its involvement in the installation of LIFESAVER® clean water filtration

tank filters in local schools in Alea, Santa Isabel, Sevilla, Sinai II – Badio and Sinai,

providing an effective long-term clean water solution.

• The ‘LifeSaver C2’ water tank filtration system, is a community led solution that holds

750 litres of water at one time and can be connected to a rainwater harvesting

system to ensure a constant supply of clean drinking water.

• Microbiologically clean water, which filters out 99.99% of all viruses’ bacteria and

cysts, produced from the tank can be used for drinking, washing, cleaning and

cooking.

The Platanillo flower

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CORPORATE SOCIAL RESPONSIBILITY

OUR LICENCE TO OPERATE

Santa Isabel School

• Currently Amerisur supports 454 families in the Platanillo block across the following villages; Alea, Bajo Mansoya, Peneya,

Sevilla, La Rosa, Sinai II – Baldio, Camelias, Monteverde and Kanakas.

• During 2017 Amerisur continued to focus on improving access to and promoting further education through the construction

of two classrooms for grades 10 and 11, two laboratories and two sets of toilet facilities for the students of Santa Isabel School.

• This project will improve the students’ educational prospects and help create the country’s next generation of high school

graduates.

• The construction of the new facilities have been undertaken by local villagers thus creating more job opportunities.

• Focus on local hiring and contracting wherever possible

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2018 OUTLOOK

1 2

3 4

Drilling of up to 14 fully funded wells Increasing reserves and resources

Increasing production Cash generation from production

Sustainable growth

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APPENDIX

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STRENGTHENED AND REFRESHED BOARD AND MANAGEMENT TEAM

BOARD AND MANAGEMENT

Giles Clarke, Chairman

Committee membership:

John Wardle, CEO

Committee membership:

Nick Harrison, CFO Alex Snow, SID

Committee membership:

Stephen Foss, NED

Committee membership:

Douglas Ellenor, NED

Committee membership:

Chris Jenkins, NED

Committee membership:

Dana Coffield, NED

Committee membership:

Carlos Martinez

Country Manager

Johnnie Velasco

Operations Manager

Edgar Herazo

Production Manager

Carolina Gelvez

Lead Geologist

Selected In country team:

N N N R

A N R A A N R A R

Board:

Key

Committee

membership

A Audit

N Nomination

R Remuneration

Chairman

Maribel Escobar

Head of Consulta Previa

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A ROBUST AND SELF-SUSTAINABLE BUSINESS MODEL

BUSINESS MODEL

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FINANCIALS

2017 Cashflow Operating netback per barrel ($)

0

10

20

30

40

50

60

70

80

Brought

forward

cash Jan 17

EBITDA Working

Capital

movements

Tax

repayment

Asset

acquisitions

Capex Cash at 31

Dec 2017

20

46 5

26

42 41

0

10

20

30

40

50

60

Platanillo N

Sands (3

wells)

Platanillo

(civil works

and other)

CPO-5 (3

wells)

Putumayo

8 (2 wells &

civil works)

Putumayo

9 (3 wells &

civil works)

Putumayo

12 (3 wells

& civil

works)

2018 total

capex

2017 EBITDA 2018 CAPEX

$m

$ /

bb

l$m

3.910

14.7

14.9

31.413.5

0

5

10

15

20

25

30

35

40

45

50

FY 2017 FY 2016

Transport costs Operating costs Operating netbacks

0

10

20

30

40

50

60

70

80

90

100

Sales Cash

operating

costs

Royalties Transport

costs

High prices

tariff

G&A costs EBITDA

(3.2))

$m

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OBA – AFTER 15 MONTHS OF OPERATIONS, IT HAD PAID FOR ITSELF

4,932April 2018 average daily

throughput BO

THE OBA – STRATEGIC EXPORT INFRASTRUCTURE

Throughput increase strategy:

Short term strategy successfully delivered

• 3rd export pump in Colombia installed

increasing export capacity to 28,800

BOPD

• January 2018 agreed to increase

throughput capacity under agreement

with Petroamazonas from 5,000 to

9,000 BOPD once Amerisur has built

and commissioned the Chiritza re-

pumping system,

Next steps:• Debottlenecking

Chiritza

Cuyabeno

2 MBO transported by Feb 2018, generating a total saving of $20.3m during the 15th month of operation

Cuyabeno pumps, meteringChiritza re-pumping station

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OBA CLUSTER

PLATANILLO – PRODUCTION MAINTENANCE

• Lifting system is hydraulic – up to 3,800psi injection pressure

• Sliding Sleeve (SSD) holds the jet pump. Both production and

power fluid pass through the sleeve

• Over time the sleeve becomes eroded and must be replaced -

workover

• Example shown has had over 7.3 million bls of fluid circulated

through it

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OBA CLUSTER

PLATANILLO – N SAND – WELL SCHEMATICS

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OBA CLUSTER

PLATANILLO – N SAND – WELL SCHEMATICS

• Horizontal drilling increases the reservoir exposure and hence production rate and EUR

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LLANOS

CPO-5 – an example – AGUILA STRUCTURE

• Solid closure on 3D seismic

• Minimum mapped closure = ±4.1 mmbo

recoverable

• Potential closure = 20+ mmbo

recoverable

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PUTUMAYO-12 & 9

OBA CLUSTER

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1 Growing Low Cost Production Base –focus on Putumayo core assets around OBA

Prime position in under explored basin

Low cost onshore operation with short lead time from exploration to production

Maximise value from producing assets

Plan to increase production to 20,000 bopd in the medium term through ongoing development and exploration while

growing OBA throughput, diversifying production base

2 Own Strategic Export Infrastructure

Amerisur’s OBA pipeline paid for itself in 15 months

Provides a reliable, low cost route to commercialisation with technical capacity of 50,000 to support future growth

Ability to grow OBA throughput through focused investment

3 Extensive Growth Portfolio

12 blocks covering c.984,000 Ha (gross) predominantly in the prolific Putumayo - proven oil basin with light to heavy oil

gradation in excellent reservoirs, big field potential in Colombian terms

Key acreage in the most important Llanos play

Exploration portfolio of more than 26 identified prospects targeting 1,376 mmbo of unrisked prospective resources

Significant future upside at Platanillo – unrisked prospective resources of 37.7 mmbo

Up to 14 fully funded wells to the end of 2018

CPO-5 on trend with most important recent discoveries

4 Robust Financial Position

Cash generation and balance sheet strength core values

Fully funded work programme at $45 oil and well positioned to pursue organic and inorganic growth – continuing to

consider acquisitions in Putumayo which have strong strategic fit

Debt free balance sheet and cash of $41.3m at year end, positive operating cashflow

5 Experienced Board and Management Team

Experienced and strengthened Board with CEO and management based in Colombia enabling streamlined decision

making

Extensive experience of operating in country with strong community relations developed over the course of a decade

INVESTMENT HIGHLIGHTS

FINANCIALLY AND OPERATIONALLY WELL PLACED WITH A CLEAR STRATEGY TO MAXIMISE

POTENTIAL OF EXTENSIVE PORTFOLIO AND TO CONTINUE TO DELIVER SHAREHOLDER VALUE