LONDON (AFX) - Chaco Resources PLC said it is proposing the reverse takeover
of two Paraguayan companies -- Amerisur SA and Bohemia SA -- from Candey SA and
Daniel Sztern in exchange for 27,322,404 new ordinary shares in the company.
It also plans to raise up to 750,000 stg before expenses in a placing of
36,585,365 new ordinary shares.
The company's shares were suspended on Sept 3 and it said it expects this to
be lifted today. It has called an EGM for Nov 15 to approve the acquisition and
placing plans.
Amerisur holds two oil and gas prospecting permits in Paraguay and is the
registered applicant for exploration and exploitation concession contracts over
the same permit areas. Bohemia holds registered applications for an oil and gas
prospecting permit in Paraguay and for an exploration and exploitation
concession contract over the same area.
The exploration areas covered by these three applications comprise a total of
approximately 48,000 square kilometres of the Curypayty and Parana Basins.
Chaco said these basins extend respectively into Bolivia and Brazil, where
commercial oil and gas production has been established for many years from
similar geological sections.

camlad, you are being selective in your interpretation if you got your overnight 1.20/share expectation from my post #87 ; you will see that I mentioned 3-6 months to get the production going. Nobody would sensibly expect any full potential to be immediately reflected in the price but you would have to admit that in the current mkt., where oil is flavour of the month, the confirmation of something more certain than just a drilling programme is bound to set a company like CHP on a very good sp trajectory. Obviously they need to pull off the deal longer standing shareholders have been following for a few months, but if they do, I am going to be right in my prediction.

sharesure,

in #87 you said "even if it took 3 to 6 months" not that "it would take 3 to 6 months" - hence my (and not only my) interpretation. you also talk about 10000bopd which is greater than 2.5 times EEN who have 3 (or 4) wells actually in production. so chp is going to sign a deal and acquire enormous production facilities? will it use its whole 1m in cash? or perhaps issue another 1000M shares?

in #96 your interpretation of the EEN drilling/operations update implies (IMHO) a new oil strike which wasn't the case

also chp do not even have a drilling program as you suggest in #100.

and from what I've seen this week oil is not flavour of the month as the sector (as a whole) is taking a pounding.

i think people are creating unrealistic and unachievable expectations of chp in the short term. i expect there to be a positive rns in the near future but it can't match up to what some are expecting in the short term given where the company is today.

in many ways the expected positive rns is already in the price - hence the recent rise.

all the above IMHO. WDIK, PDYOR.

camlad

camlad, we'll have to differ about the effect on the sp; it's too nice a day to argue and so I am going out to enjoy it and await Friday, which I would put my money on, or whenever next week if it cannot be this week that news comes out.

Good end to the day. I think I'm not the only shareholder who thinks an announcement will be soon. Has anyone else had a market research firm ring them in the last few days to ask how they view the company (ie risk profile) and who recommended it to them? Sounded bogus to me, so would like to know what others thought if they too were approached.

The CHP announcement is still likely to be tomorrow, IMO.. If it goes CHP's way it will transform the company. The shares should then respond very positively

Hope so Sharesure, it will take my mind off some of my slower holdings at the moment...

Just moved to a new price level; hopefully this is about to happen?

Interesting series of buys this afternoon, some quite sizeable. Looks imminent for an RNS

1000000 buy late on. That's quite a commitment or someone believes we are nearing an announcement

Thats down as a sell on Digital Look and i pressumed thats what marked the price down ?
DB66

DB66, Digital Look may be right as the mid price at the time seemed to be 6.03p on the trades page, whereas the quote page was showing 5.3p - 6.3p, mid point 5,8p. Confusing, that buyer/seller was either very astute or very stupid, take your pick!

buys to sells, 4 to 1 ratio. There is going to be an announcement soon

Guess things take longer to happen in August. The source is still positive.

CHP sp is beginning to firm up again. The announcement of further deals, Colombia, very soon is likely.

Shouldn't be long now, whatever way it goes.
A poster on the other bb said he spoke to Martin Groak yesterday and was told he couldn't say anything now but that there is lots going on behind the scenes.

My contact wont take my calls; it looks like the announcement is soon to be made and everyone is being more careful about leaks occurring.

Has the news that we have all been waiting for been announced?
sp up 9 % at the moment!!

Certainly lively today, does someone know something we don't yet.

As far as I can find out the news might come out either this Friday or the Tuesday after the bank hols. The company's broker's seem to be soaking up the stock and their team are apparently in Colombia until the weekend. Draw your own conclusions. The way nobody is letting on about anything suggests that its going to be good.

Watch CHP Friday for any early announcement of its Colombian deal; There's no reason for the company's brokers to be continually picking up stock and be the highest bidder out of all the MM's in this stock unless they are convinced the deal is as good as there and a good one.