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 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!

Why do bullish investers always assume a tree shake when it could be a big sell order waiting to be filled ?

someone on advfn BB published a recent list of new license awards in Columbia. because CHP isn't on it, the rumour has started that CHP hasn't got the primavera area. so the get rich quick/bandwagonners are selling and the dropping SP becomes a self-fulfilling prophecy.

those who have been here before will know that CHP is trying to take an existing license off an incumbent. therefore they don't go through the same process as the new license awards and wouldn't appear on the type of list that has been published. we have in the past learned about the wins thru the company RNS not thru Columbian goverment PR.

but the lack of RNS (so far) will fuel the nervous investors confidence and I would expect we'll see the SP pull back today. doesn't change anything for me as a long term investor. except maybe i'll top-up on the dip.

if and when the RNS does come, I'll hopefully have even better profits. in the meantime, the MMs will be laughing all the way to the bank.

WDIK, PDYOR.

camlad

Camlad, Don't get suckered by that ADVFN post; probably someone who missed out last Thursday and would now like to get in or a shorter trying their best to destabilise the recent strength in the sp. My information is that the Primavera application has been successful but that as with the previous applications the mgt want the documentation absolutely watertight before any announcement ( I think that is a throw back to the GMS days when some of the same directors were led up a very long garden path!)
Also if something had gone wrong and Chaco had been unsuccessful they would have made an announcement to that effect straightaway (even though AIM rules don't necessarily require them to report at the same level as FTSE stocks) because that is how they are running this company.

Bhunt, Thanks, and I hope you make a stash!

SS, I was posting info for others to see why the SP was dropping today. as you can see from my post above, I regard it as a potential buying opportunity. no way I'm selling out.

WDIK, PDYOR.

camlad

Holding tight after spending the year accumulating!

camlad, Ok.
Just looking through the Sells, although there seem to be a lot of them they are all insignificant amounts. Reduces the costs of running the Share Register!

Couldn`t resist at these prices just bought another 170000,shit sharesure i hope these come good now holding just under 600000.Pray for me.Yehaa, nearly covered my spread whilst iv`e been typing this,go on chaco you little babies.

Camlad, no pressure there then!!? You are in good company; there are a few of us on here that make EK's stake look a touch light.

SHARESURE,i know all about doing your own research,

Just wanted you to know its your informative and balanced posts that have made me decide to HOLD!!!!

Thx MR!!

More buying on CDS-perhaps Paraguay news is nearer!

Grabbed a few more at11.8p

Wish I had cash to top up.... when will we see that RNS :)

Just been having a glance through my startrader software programme and the similarities between chaco and Patagonia gold charts over the past 3 months are quite similar, might be worth keeping an eye on.Sorry if off topic.

WDB I see now gone high on the bid, interesting

Getting back to where it should ahead of news!

ss WDBM finished high bid along with SCAP

Alfred, WDBM have always seemed to know very accurately what is going to happen with Chaco long before the rest of us; I guess having high net worth clients holding nearly 30% helps! For as long as they are concistently high bid that is as certain a sign to hold/increase shareholdings in Chaco as anyone could ask for. Any weak holders who fall by the wayside in the meantime, either because they lack patience or are unable to hold for as long as it takes to get this 3rd Colombian deal (anytime now) and then the 3rd Paraguayan block (end Feb.?) will provide buying opportunities for others to get on board.