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.

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

Baza, Nothing new; just decided that this is a waiting game for any of three potential pieces of news - the third (and by far the largest) Colombian deal, the third Paraguayan licence area award (the area that abuts an existing Brazilian oil field), or news of CDS being successful in their adjacent Paraguayan drilling programme in the Chaco basin. If the latter gets confirmed as successful, expected within two weks, then that will have been quite smart on CHP's part since it will make it easier to get a large farm-in partner at a deal which requires less to be given up since it would have had alot of the speculative element removed by CDS' drilling programme.

Sharesure
With more buys than sells why is price dropping?

Bodeng,

Possilbly a sell just after 4pm that won't show for an hour.

cc.