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.

Doubled my position today - slightly expensively, but it took so long to get a deal done on line from Cape Town (fantastic city, fantastic weather - only trouble is coming home tonight to -10 I hear!) the price had moved 1p against me - oh well, what's 1p when it's a possible multi-bagger.

Thanks MPH for your figures. Did someone say you had to allow 50% royalty to the state? Even so, SP should double by first real result of drilling.

Makes you dry just thinking about it!

sd

Stockdog

I include the Colombian governments 'cut' as a cost of production.

The RNS dated 8/12/05 suggests that this will be levied at 28.5%.

I reckon, with today's high oil prices, that still leaves at least $20 a barrel at the well-head profit for CHP.

Alfred

camiladasi - I got this off my Reuter screen, so it should be reliable but is at 21/12.

519m? where are you getting that figure from camiladasi?

Greyhounds figure is nearer to the mark.

Chaco's website says 493.83m in issue.

Happy flying stockdog, how's Blue's restaurant these days?

a nice 500k buy @ 10.4 to round off the day!

On the Trades area it has these as a sell

500k put in at 16.05 blackdown

Alfred - I think the 28.5% yiuy refer to is corporation tax - I'm talking about a royalty share of the oil out of the ground, or isn't there any?

Greyhound - don't know about Blue's, but was at the Blue Danube (appropriately with my German clients) last night - excellent Thelema Cabernet Sauvignon. Also had an extraordinary lunch in Stellenbosch at a new winery called Tokala tasting all their recent whites before settling on a 2003 Cab Sauv/Merlot blend - superb.

Ah well, back to Blighty and warm flat beer tomorrow.

sd

M_P_H, here is my calculation of the total shares volume:-

from 2005 Annual account 408M
Directors options in accounts 8.5M
Unlisted options in accounts 12M
issued for Ameriseur acquisition 1.8M
27/10/2005 placement 84.7M
20/12/2005 issued to Expet 1M
17/01/2006 GS option 1M

Total 517M

(sorry in my original posting I said 519M, but I took off my other shoe and sock and changed my calculator for this reconciliation)

I'm happy to be wrong about this if you can show me where I've erred.

WDIK, PDYOR.

camlad

Be great to get confirmation on Primavera tomorrow!

stockdog

You may well be right. However, i still think that this will leave $20 profit at the well head.

What do you reckon - tree shake about 10.30 ??

bhunt1910
It looks like you were spot on, a few nervous sellers out there, where to from here.
2517

Time for it to go up again!

gets them every time!

They did the same to VOG holders the day before the big announcement!

camlad, thanks for posting your data.

Looks more like a forest shake!

Not over yet - dont think it has quite bottomed

WDBM and WINS high bid.

EVO on offer