Grant of Share Options

18 February 2014

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

Grant of Share Options

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, announces that on 15 February 2014 the Company's Remuneration Committee ("the Committee") granted options to directors over 6,500,000 new ordinary shares of 0.1p each, representing 0.61 per cent of the current issued share capital under the Long Term Incentive Plan ("LTIP") approved at the 2011 AGM. The Committee designed the LTIP in accordance with current best practice and with the intention of delivering appropriate awards to senior management on the delivery of exceptional corporate performance.

In December 2013 the Remuneration Committee also granted options over 3,085,000 shares to employees under this scheme.

The options are nominal cost options and, with the exception of options over 1,750,000 shares granted to John Wardle, are eligible to vest over a three year period ("Vesting Period") subject to achieving performance levels which create value for shareholders. Vesting is on a sliding scale which depends upon the effective shareholder return during the Vesting Period:

Total Shareholder Return (p.a.) Level of Vesting (%)

20% (73% compound over three years) 100%

15% (52% compound over three years) 75%

10% (33% compound over three years) 50%

The total shareholder return ("TSR") target is calculated from a base price of the average closing share price in the 30 day period prior to the date of award, which was 53.9p. Options will vest during the Vesting Period when any of the three percentage thresholds for 3 year TSR is achieved for a 30 day period based on the average closing share price for that period.

There was no consideration paid upon the grant of the options and the options expire on the fifth anniversary of the grant.

6,500,000 options have been granted to Directors as follows:

* Dr Wardle's interests in his share options are held through his interest in Tracarta Ltd. Options over 1,750,000 shares granted to Dr Wardle vest in accordance with the performance conditions set out above. In recognition of Dr. Wardle's contribution during 2013, options over 1,750,000 million shares vest without performance conditions in equal installments on the first, second and third anniversary of the grant.

Options over 20,924,800 shares are currently outstanding under this scheme, representing 1.98 per cent of the issued share capital. Options over a further 9,000.000 shares, representing 0.85 per cent the issued share capital remain outstanding from the Company's former scheme.

ENQUIRIES: