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.

Another note, I would have expected chaco to have been forced into making an announcement regarding recent share price movement. The fact that they have said nothing indicates to me that the news we are waiting for is in fact due shortly but are double checking/getting signatures etc.

In my previous experience, when a company goes quiet it is usually a good indication that the rumour is true.

WDBM back on high bid, shake looks to be over.

MPH agree with you. Regrding the company having to explain sp movements, I think AIM stocks are under fewer obligations on that front even if some still do voluntarily try to follow the rules governing FTSE stocks. I am sure that they are so close to this announcement being capable of being made that they have taken the view that they may as well say nothing for the sake of 24/48 hours wait.

Normal service resumed until RNS that is!

1,000,000 buy at 12.40 just gone through from yesterday....

Interesting day so far,slight tick up first thing to suck people in then back to 12p. Buys outnumbering sells 3 to 1 and no increase,but nobody seems to bailing out in a hurry, all waiting with baited breath.Have we found a new support level,hope so.

Sharesure hi, do you think the rns will be announced early doors or later in the day,and what are the advantages of these two scenarios if any.
Cheers pisces.

Pisces, you credit me with more than I can answer! It would be good to see this RNS whenever they can announce it - sooner rather than later as some folk get very easily bored or distracted. If I had to make a prediction I would say mid morning Thursday but I wouldn't stake anything on that being right. More likely I shall be wrong.

Built yourself a bit of a reputation there sharesure!

Held its own today but some buys at the end may give a boost to the opening and then if RNS!!

Seems like every stock I hold at the moment has imminent news coming......

Whats the odds on getting them all at the same time???????

Are there any doctors in, would my head explode??????????

dibbles - over half my holdings have all shot up to new spikes recently - what if they all come down together?!?!?

sd

I bought these just on a whim because everyone else was. dont think that was a good idea only time will tell.

Kivver
! Bought these because the Telegraph said it was a speculative buy.....they are usually quite accurate, but as you say, time will tell!

MPH
Can you tell me a little more about tree-shakes...is it the MM's lowering the price slightly to panic nervous investors to sell? I'm always trying to figure out what makes the market move, so any light you can shed on this would be welcome.

"Big Respect" to all the great posters on this thread....I follow the SEO thread, but over the last few months it has deteriorated markedly.

LL

SS - just back from a long weekend in the Brecon Beacons - what a wonderful part of the country and barely a car in sight. Wonderful clear blue skies - but very cold - made everything go blue - so what a delight to return to see a Chaco also blue and a 20%+ improvrment on Friday.

Well done - and thank you again for pursuding me to look at Chaco when we last met.

Respect and regards

3 to 1 buys to sells yesterday and no movement, slightest bit of selling on low volumes this morning and driving price down probably to 11.5 without any news.Have faith and stick in there and don`t hold if your a nervous investor.

TREE SHAKE START MM WANT YOUR STOCK

They are not getting mine - could there be an announcement later today I wonder??

Not so sure, I'd have thought a 7am annoucement - but I'm not complaining if it's later!