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.

Nearly 1.2m sells gone through there, do not want to hold over the w/end, no rns
2517

George
Better to be holding in case RNS comes first thing Monday!

If a company wanted maximum exposure relevant to a scorching piece of news, surely first thing monday would give that benefit.Not only would the effects of the news have a full week to be digested by the market, but there would be no interuption from the weekend break.Just my thoughts anyway.

bodeng
I couldn't agree more, we would like things to happen sooner than they actually do, but as with gardening, patience is required.
2517

A very good week without news- a lot of impatient people around!

Hi All,

I am new to this message board, but find that this thread is one of the better ones, thought you might be interested in this direct from Chaco,in reply to a email I sent asking about the E&P licence for Primevera. From the reply I dont think news will be out just yet, but possibly towards end of this month. I for one will be holding tight to my shares with fingers and toes crossed

Dear Colleen

We put in development project applications on blocks where there is already an incumbent. The incumbent must then either match our proposal or lose their rights to the block. They have 30 days to respond.

Then, the authorities who grant licences have in theory up to 60 days to inform us or our partners of decisions from when the 30 days expire. However, in our experience, their processes are relatively quick and completed well within the 60 days. Although we are not certain of exactly when the 60 days started, we believe it was 16th Jan.

This is their summer holiday period and we understand they hold their meetings once per month during this season, in the last week. So we hope to hear very soon, during this month.

Kind regards

Martin Groak
Finance Director
Chaco Resources Plc

cancelled

The wallstreet reporter interview is now on the Chaco website!

Bodeng, you asked how the MG email squared with MPH/my information on timing. As with the previous applications Chaco is in the hands of civil servants; unless its application gets up the agenda at the meeting before they decide they have done enough for the day it seems that it then gets deferred to the next meeting which at this time of year is monthly. Notification of any competition for an application does seem to be apparent straight after the expiry of the 30 day period (in this case c.16/1/06). I don't think Chaco are aware of any competition this time. Around 23/24 Feb could be the time for an RNS, but as with previous applications I don't think anyone can be absolutely certain of the timing, only that patience has tended to be rewarded.

Sharesure
If it is 23 Feb this could be about the time of the CDS results in Paraguay!

Some reasonable buys coming through this morning ticking the price up will be interesting to see if they push the bid up to over 12p.

Not an awful lot going on today, apologies bodeng if I have missed a post addressed to me.

MPH
Answered well by Sharesure.

Things holding up remarkably well given the absence of any substantive information from the company.

I am amazed that the sp did not fall on the 2mil sell,unless it was a buy?,any comments

capetown, the 2million sell is what probably held the price back in the first place otherwise we could have seen 12.2-12.4.

T If reporting a protected transaction.

GR8 news,did not think about it the way you just explained,thankyou.

thx pisces

That T trade was a Buy from an order placed much earlier today. I know because I know who bought them.