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.

pisces, it's probably obvious to many that I don't think this share is going lower; having recently upped my holding quite substantially I do expect that confidence to be rewarded over the next few weeks. It's only my opinion that this could be the 'Cairn' of South America but having recognised the last Cairn at 30p, watched it go on to become a FTSE 100 stock and only recently sold it, I am now hoping that the ingredients are there for CHP to have the potential to at least copy Cairn to some extent. Guess it would be too much to hope for the same amount of oil and gas to be discovered, but with early cashflow from Alea 1 to fund other exploration in Colombia and perhaps, more significantly, in Paraguay who knows.
Good luck to you if you get back in at a lower sp, I just wouldn't bank on my chances of being able to buy cheaper than current levels as I do think the sp is already at a very significant discount. All in my opinion, so you take your choice!

Any publicity now would be welcome in the run up to Xmas.

WAS MENTIONED YESTERDAY IN SHARES MAG PAGE 26 AS ONE OF FASTEST SM CAPS OF THE LAST YR.

Chaco - nearly all buys today - and at last sp has ticked up in anticipation of news next week

Roadshow next week according to several posters on the other bb.

Lets hope it starts to take off then

Don't be concerned this is sound, you'll see soon.

Driftwood - thank you for that reassurance - actually - from what I have heard I feel reasonably confident on this one at the moment - but the next 7 - 10 days will be quite key I think as news starts to filter out via press releases and PR interviews

Looking forward to the roadshow!

First meeting tomorrow morning with the Guardian!

tug nice morning. this is going to be abig play. also get into wlw 45p min they are having a great xmas.

Paraguay is worth more than has been estimated-perhaps the roadshow will confirm this!

Very tight spread for a 7p share..can anything be read in to that??

E mail from Martin
RAB Capital, Hardman & Co, Upstream, + clients of Daniel Stewart

We also did OilBarrel.com yesterday

Wed: Resource investor, T1Ps, Watshot, Oil voice,Oil Daily

Rgds

Martin

Where are the regular posters!

not popular today, sellers far outweigh the buyers but keeping in my stockwatch.

Kivver,

The trades at 7.2p and 7.21p were buys not sells as shown.

cc.

dramtic turnaround from a series of buys to a fair price drop.

Last day of presentations today-buying by the end of the week!

I would have thought that if the news had been spectacular - then we would already haave started to see buying start to creep in with a samll increase in sp

Anything on your radar SS?

Baza