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.

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.

This is an interview with Wall Street Reporter dated 25 January 2006 and its with Graeme Stevens and John Morris, The interview is about 10 - 15 mins long and it is superb, the best I have heard,I need to listen to it again but they expect 55% on third block this next week.

Must have been part of the reason for the increase in price this week, you people listen to it, they come acoss really posative and up beat , we are going to make alot of money here.


http://www.wallstreetreporter.com/linked.php?id=15765

S3250,

Informative interview. Agree prospects look good with 55% in third block about a week away and CHP do appear to be well positioned to reap the benefits to be had in Columbia and Paraguay. Thanks for the interview link. well worth listening too.

Schiff

You are right. This is a particularly good thread. This is perhaps made easier because it relates to a truly outstanding company. There just isn't the need for bullshit, hyperbole or wild exaggeration.

Perhaps one of the problems that I, Sharesure, MPH and others have had with chaco resources is trying to maintain a degree of creditability, when what we are suggesting is possible is so good it just sounds like fantasism.

No doubt Camiladasi, also a great contributer to this thread, will try to keep our feet firmly on the ground.

Since the interview seems to confirm 55% I can now give up my pretense of being delighted with 25%.

Hopefully the events of the next few weeks are likely to change the true believers lives forever.

Don't sell too early. DYOR, and good luck

Alfred

stewart - that makes excellent listening. A comprehensive interview which does seem to confirm our expectations that 55%of the third block is imminient. The coming weeks are going to be interesting to say the least and I think I need to re-position funds for another tranche.

Good luck all!

Stewart, Great find . What a good interview. It backs up the view that the mgt. perhaps also have the view that they could become the 'Cairn Energy of South America.' IThe Times piece today was interesting although nothing new; I would hope a Sunday Paper financial journalist might make more of an informed comment. If that happens I look fwd. to next week's market reaction to their comments plus the US interview.

Sharesure
When do you think the news will be released!

Bodeng, I think that the recent press and Wall Street coverage may mean news will be out early next week, either because it is now appropriate for Chaco to announce or because they may need to comment on the sp movement which might be quite lively on Monday. I am not an 'insider' to this company so my comments are merely intuition which I hope has been interpretted correctly. The Wall St. interview makes very good listening particularly some of the comments towards the end. If you haven't accessed it already it is well worth it.

Sharesure
Thanks-I am telling all family members to add first thing on Monday!

Alfred, thanks for the kind words, but in truth you and ShareSure are the stalwarts of this share and BB. Thank you both for sharing all your great info and insight.

May we all have a successful & prosperous 2006 with CHP.

WDIK, PDYOR.

camlad

Article in Sunday Telegraph
Chaco Resources

There is still time to get into Chaco Resources (10.2p), the small oil company exploring in Colombia. The company has already won the rights to two oil fields in the country, the first is expected to yield 38m barrels of oil and the second around 10m. Either of these fields alone could justify a higher share price than the current valuation.

However, the market is now rife with rumours that the company is poised to announce that it has won a 55 per cent stake in a third, much larger field estimated to contain upwards of 400m barrels. Colombia has long been a no-go area for independent exploration with only the majors such as BP able to operate in the country which has suffered from a long-running uprising in rural areas.

The secret to Chaco's success seems to be the help of a former BP man, an expat who spent years on the oil giant's exploration programme and knows where to drill. Buy.
Thanks Stewart.Looks great for Monday!