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.

Good day but nice to see another push after lunch!

Great end to the day!

share sure,,great day for chaco,,i also noted a late move at mrp,good news is long overdue.

Very pleasing finish to the week. Hope Monday will produce the RNS.

Any thoughts on next week!

And any comments in the weekend papers?? Given the additional volume over the last couple of days I'd like to think that Monday will show a strong start (and RNS??)...who knows.

Fingers crossed.

Good luck to all holders for the coming week!

Updated agm slideshow on the chaco website, Select updated Colombia presentation some points others may not have noticed:

It states that Alea has "excellent upside possibility for substantially higher reserves"

it also confirms that "Chaco will retain 55% equity in Primavera exploration block if E&P application is successful"

Thanks mph. I still believe that the Primavera block has already been awarded to CHP and the hold-up with that being formally announced has more to do with getting the documentation through and how/who with they arrange the exploitation of the block. Commerce in Colombia seems to be a slow business, but as CHP has proved on the first two blocks, they will get there in the end!

A poor start to the day but rallied towards the end given that news has not yet arrived! 500,000 buy after the close may give a tick up in the morning!

Sharesure/MPH
Some more buying over at CDS while we wait for news!

Up on very little volume....MMs trying to bring out buyers??..

MM's are struggling for stock Mr Mole, one has just had to go to another market maker for stock and paid full offer for his tranche at 8.1

I notice the offer shot up immediately after that trade was printed. No other MM wanted to get caught out selling any at that level.

...which means it all looks pretty good for the next few days..

vog up 45% today

Yes Mole, all looks very good.

Especially as the MM buying was WDBM

There goes another MM purchase.....

Does it mean that news is close!

8.6 paid for 50k just gone through when offer was 8.5..........mm's struggling to supply the demand

MPH This is looking good. Have not heard any more whispers re news - everyone is keeping tight-lipped; a good sign in my view as it will be better to have an un-rushed release with some reliable figures attached.

Patience was always the key with this one.The rise in SP must be due in part to recent rises in world oil prices?