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.

Baza, Still as keen on this company as ever; haven't posted as have not had any new news; waiting on civil servants to stamp documents certainly teaches patience! Also I think there were some who thought I was being more optimistic than will turn out to be the case when CHP are officially awarded their third Colombia deal. So don't want to fuel things to then encourage the shorting brigade in.

Good to hear from you SS. SP seems to be looking more positive

Some info relating to oil and Bolivia:

http://www.businessweek.com/ap/financialnews/D8F6KB0G7.htm?campaign_id=apn_home_down&chan=db

Me and my big mouth

Very large buy-CDS should be good news for Chaco!

CDS has agreed finance for drilling- should be good news for Chaco!

great news, thanks for the heads up bodeng

Looks like the investor wanting 3.0m shares in CHP got half of them on a late posted deal yesterday at 7.15p. Good news on CDS as it evidences the potential of the Chaco Babin region in Paraguay.

Correction to #1254: That 1.5m was at 7.3p

You guys all asleep, look at those trades going through at the end, 3 x 500,000 , and 2 x 650,000 not sure what vw trade type means is it contact for difference, must be buys anyway, should start up tomorrow.

Another 650,000 buy, someone needs to explain those last couple of trades to me but this looks very good.

Not asleep stewart! Just watching quietly from the side. It's all slotting into place nicely, very pleasing.

Looking much more positive for a change!

Well done MPH, are you able to interpet those 650,000 trades

Been out all day - very pleasant surprise on my return. Well done all who kept the faith. Hopefully another good day tomorrow

Unkown Trade timed for: 19/01/06 17:46 7.3p 1,500,000 could be a Buy??

stewart I'm not sure how to interpret those 650k's. I'm assuming they must be institutions as retail rarely uses VWAP orders.

Just noticed another 650k B trade. B is an Institutional swap I believe. Anyone confirm?

Something is going on, can't quite put my finger on what the trades mean. All the rumours from independant sources that the 3rd deal has been sealed added to the likelyhood that paraguay is going to be a real gem on its own based on CDS's news, would lead one to believe that those trades are people finally waking up to the potential.

silvermede, take a look at some of the other 500000 trades as the timing of them suggests that they are buys too. CHP are saying very little at this time so an RNS must be very close.

Sharesure, I believe those 500k's are buys also. The 598k @12.26 and the 200k @ 10.29 are the only large definate sells that I can see.

SS

My guess as to what is going on is that we are in the 'inbetween stage' where the company has learned of an outcome and is preparing the legalities and paperwork for a press release.

I think that this stage can last for up to a fortnight.

That would explain the extraordinary trades that happened late in the day. It would also explain MG's recent silence/dull emails.