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.

CDS up -good number of buys-drilling results coming closer!

I expect the CHP sp to improve steadily as the next meeting date of the Colombian Hydrocarbons Dept. draws nearer. I still do not think that the current sp reflects anything other than the value of what CHP obtained under deals 1 & 2. That ,eaves deal 3 to get factored in and then Paraguay - the potential of the two blocks that they currently hold (one of which looks a fairly easy target for an oil discovery) and then the third block at Canindeyu, which should be little more than drilling into the existing field, where oil is already being extracted on the Brazilian side of the border, and extracting Paraguay's share of this oilfield which spans both countries territory. The newsflow is likely to increase steadily as the first half of 2006 unfolds.

Sharesure,
Where can I find out more information on Chaco's latest activities such as the info that you have just posted?
Thanks in anticipation
LL

Looks like it's starting to pick up a bit of pace...

LL, try their website first. I have had quite a few discussions over the years with the directors, tetchy ones when they were running GMS! and latterly easier ones now that they seem to have discovered a niche which they are working to their advantage. Stewart, Alfred Palfred and MPH who have posted on here are also knowledgeable on this stock. I rate this as one of the best that I have found for a good many years.

LL, You could have a look at the posts on ADVFN, check the ones by, Alfred Palfred, KJ Kelly, Valentine, and Trotting, also have you listened to the interview with John Morris and Graeme Stevens with Wall Street Reporter.


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

Taghmen Energy seem to have got their licence so some permits are dribbling out from the Hydrocarbons Ministry.

Sharesure,

Is that not the licence they got from last month , there was a list on ADVFN, remember the list, Bodeng did you post them, I thought this particular list was not relevent to Chaco or have I got that wrong.

S3250, I think you're right. that was the list of NEW licenses announced by the ministry last month - now taghment are doing their PR bit about it.

CHP are biddding to take license from an existing holder - different process.

WDIK, PDYOR.

camlad

camiladasi,

Yes that is correct however the licence is awarded by the ADH, same ministry, different process.

Why is price ticking down, no reason, should be going the other way, MM's playing games, ah looks like a 750K sell @ 12.23p

Not a bad day-but should be fewer sellers as we get closer to 23rd!

Sharesure & stewart3250
Thanks for the help..Will take a look at ADVFN. Had a look at Chaco's website earlier today but couldn't find any real up-to-the minute latest info.
LL

Well I didn't buy at 9p last year, good call at the time cos it fell to 6-7p but I missed the jump to 12p as away travelling!! Realistic views from here appreciated.
Seems to be holding at 12p, thoughts on next news if good or if not as expected?

andysmith, are you suggesting that there have been unrealistic views on this bb? The posts from 4 contributors to this thread have so far been very accurate with the exception of the timing of announcements, which have all taken longer to happen than was thought likely. The information on the 55% of 400m barrel application came from the same source as far as my information goes; timing suggested at next Thursday/Friday for official notification, but that depends on others outside of the company.
The current sp does not factor in anything for this new asset at its current price, an opinion supported by a comparison of the oil assets of other companies relative to their cap. value. I agree that that is not a perfect way to value companies because it takes no account of particular logistical problems, but it is a good starting point.

sharesure, definitely not. Havn't had time to read through all the posts and just wondering that now in 12p range, what is current assessment of share price based upon what you do know about and projection of what could happen if things in the pipeline do happen or not. Value your thoughts, not criticising them.

andy

Current net present value of what chaco has already been awarded is 19p.

This suggests that 12p, in the long run, looks pretty safe for a bottom.

If chp are awarded Primavera then the shares could double twice this year, with more in later years.

I think that this is pretty realistic.

Alfred

Andy

Also see post#1580 on this thread.

is news coming lots of buys.

Andy, My comment was tongue in cheek. As Alfred has pointed up, #1580 is worth reading. I have been told to expect between an sp of between 45p-50p after Primavera is officially announced. Maybe the market will have different views since to date there has been a lot of caution on this one. Maybe winning 3 out of 3 applications in Colombia will encourage folk to believe more in what is going on here. For my money, it is Paraguay where the stock will take off - an oil discovery there + partnership with a 'major' and CHP's sp will move ahead spectacularly.All possible in 2006.

Sharesure
I thought most were saying 20-25p after the official announcement?