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.

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!

More buying over at CDS-should be good for Chaco!

One hell of a treeshake hopefully the leaves have settled now!

just come in,how low did it drop? did the nerves good anyway not being here when it happened!

We saw 9.4 bid at one point.

As a private investor (reasonably sophisticated in the finance world) I bought into these shares back in November more or less on the basis of what I read in this thread. Having recently read the threads about ramping and de-ramping, I now realise that what I did was rather trusting, perhaps a bit risky.

But over time I have come to appreciate that this thread is one of the best for the quality of its content. Most postings are sober, informative and informed. And thankfully free of the character assassinations and slagging off that ruins so many of the other threads.

So I thought I would just say a thank you to you all - sharesure, bodeng, bhunt1910, M_P_H, alfred palfred et al. I was hugely impressed with bhunt1910's reading of the market and the treeshake (1365) and sharesure's about the reverse of the downward price trend (1373). I topped up (on the basis of these comments)
at 10p, just in time before they went to 10.2p! Well read chaps!

I feel I'm in good hands.

Just had another look. 32 minutes after I bought at 10p, they were 10.3p to buy!

Schiff - thank you for those few kind words - but you really should not take too much notice of me as I really am an amatuar at this game. I think this morning was one of those days where I just felt that it had been going too well, the MM's were short of stock and that a tree shake seemed inevitable.

Sorry to spoil the illusion


Baza

Modest as well as clever hey Baza!

LOL

No - I just know my place - Sharesure, Alfred Palfred and Bodeng (sorry if I have missed someone out) are the real experts - I just lurk

I have the greatest respect for Sharesure and it was his post on the Griffin thread that made me aware and buy into these.
Now i`m in a nice profit its down to me when i should sell but it will be a nice dilema to have for a change.

I must agree, this is a rare thread that on the whole contains sensible posts by a majority of good regulars.

After a little scare today -finished the week over 27% up-hopefully more next week if we hear news!!!