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.

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

This shake out was inevitable but in my view will not last longer than mid afternoon. Not because it is any more likely that the official RNS will be out - that is now probably more to be early next week unless sp movements prompt a requirement to say something now - more because Sunday papers are likely to have been following this and one of them will almost certainly pick up on the story so that next week starts with an immediate tick up, then likely followed by confirmation that deal 3 in Colombia is confirmed.

Put yourself in the shoes of the MM's. They know that a lot of speculative small retail money came in yesterday at 9p+ Hammer the price back towards that level and the retail punters run for the hills scared that there small gain will turn into a loss. I doubt many looked into the story behind the share or the potential of the immenent news.

It's a lovely excuse for the MM's to square off the books and lets be honest, if any of us were MM's we'd probably exploit retail fear in the same way.

Anyone who has done their homework here, is not going to be concerened about a 0.5penny pullback from the top.

EVO switched to high bid

MPH
What sort of price are you expecting when the RNS comes out?

They can prune back the price if they want because it will only encourage more growth,thats my gardening tip for the day!

They will not shake me out,not yet anyway!

bodeng, IMO I am expecting a immediate doubling, however I am prepared for a worst case scenario of 15-16p in the immediate spike depending on how the rns is worded. Once we've settled after the spike I would expect a steady climb accelerating as Alea starts rolling.

Have a look at the figures, 220m barrels of oil when valued at only a dollar is 129m, even if you take half of that you've still got 60m worth. Even taking the most bearish view of the deal shows great potential.

Thanks MPH -very encouraging with the shake-out!

Maybe I was wrong - and we have bottomed - anyway - I have now topped up with a few more at this price

me too!

normal service resumed

Can we move up strongly now!

That just shows the underlying strength in this share, a classic tree shake caught out a few weaker investors. I would not be surprised to see this take out the high now as those who bailed try and get back in for the expected RNS.

Well done all for staying strong. Even more well done to those who added!