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.

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!!!

Have a nice weekend all and every so often give a little purr!

Re schiff 1389 - I couldn't agree more, as a relative newcomer to BB's I didn't know what to expect, but it seems I have been very fortunate with this particular thread - well done guys. I also hung in there, although it got a bit hairy for a while.
2517

Thanks Schiff and Doughboy for the kind words; Like MPH, Simstew and AlfredPalfred and others I think we try to post what we believe will happen but in equities, no matter how long you do it, we all realise it's still possible to slip-up or get misled s it's never worth betting the house! Hopefully the more experience the fewer those occasions are. That is not meant in any way to detract from the push for Chaco; along with others I rate this company's aims and its mgt. The information source has been reliable so far, perhaps it could have been more accurate as to timing, but has been either spot on or conservative.
Glad others have profited on Griffin Mining; still a good company to be in and hopefully before end of January there will be some more very positive news. If not precisely then, it won't be too long in coming - in my view.

Having read all the rubbish on the Stanelco site, it is refreshing that this one concentrates on what we are doing this for - to make money and have some fun along the way.

Hats off to the star posters!

If it was my hat I would hold it out infront of them as they passed by!

SS
A while since I posted, but looks like those predictions of five months or so ago are at last coming to fruition! Topped up during the week at sub 9p, although yesterday's tree shake did make me wonder if I had done the right thing.I hope the news is not too long in coming, because the chart does indicate that the SP is quite toppy at the moment. However, there is every possibility that if the news does not arrive, the SP can consolidate at these levels and wait for the next push.
regards
pth

copied from another bb



The Times January 28, 2006


Rumour of the day


Chaco Resources edged up 0.08p to 10.20p amid speculation that the Latin American oil and gas explorer is on the verge of announcing another development in its Columbia business. It is believed that the company has been awarded 55 per cent of a field in Primavera thought to contain the equivalent of 400 million barrels of oil.