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.

Kivver

Exit plan? lol!

I have a 15% trailing stop loss in mind on every share - which rule I regularly break if I "believe" in a share. Very wet and, over time, probably less profitable than a strict stop loss policy. But with some shares like PSG which I hold it's going to take 1 to 3 years to make good and the price is simply too erratic whilst waiting to have much of a policy. However my new year's resolution was to set an absolutely strict stop loss of 20% including dealing costs and spread on any new acquisition henceforth - we'll see if I stick to it!

Look at the stick I've recently received on FAO thread for turning over my new leaf! Couple of dogs have ticked up since I sold them in January, but my reinvestment of the net proceeds is up 17% across 3 stocks against 4.5% if I'd stayed with the 4 I sold out - seems to prove the point somewhat.

BTW what's yours?

sd

BTW if those 3 large T trades were placed early in the day, they could well all be buys. Mid price did not rise to 16.25p until after 9.00am today. It also makes mnore sense for buys rather than sells of this magnitude on a day like today, exit strategy or no.

sd

you seem to have a plan that is working SD and you cant ask more than that. I had a theory once that stop losses were not really worth it but i have paid for it since. Still holding bprg and cyh at quite big losses after being well up at one time. As for my own plan, i look at each share on its own merits, have quite a few i intend to hold for the long term usually fste350 stocks or long termers like wlf or azm. As for shares like tag or chp, you have to play it by ear and see what the news brings. Lots of posts are saying saying they are in for the longer term, will have to wait and see.

From the UK Analyst

Chaco Resources shares rose 2p to 16.525p after the Independent published a positive write up on its prospects over the weekend. The newspaper said that the company awaited news on whether it had been granted an exploration and production licence for Colombia's Primavera block and that word was that a decision was imminent. Should it secure the block, the newspaper said that the group's shares may go a lot higher. The word in the City is that the shares (which have soared from less than 2p) could hit 200p.

I would be happy with 20p+ this week!

I'm happy with 1 in 5 years time - call me easily satisfied if you will.

sd

Good luck again to all holders!

Now at 17p bid again, will be interesting to see if we can breakout from this price as this would take us to unknown territory hopefully pushing the price up even more before news comes.

The usual talking it down now going on elsewhere - probably by those who haven't done their research, have only just become aware of CHP and have missed out on the early activity following recent newspaper articles.

Sit and wait I say!

Wonder if all those 500000 sells are from institutions topslicing, price has held up well considering, or was it being held back because they were lurking in the background, however now they are out of the way lets head north again.

Good call pisces!

Although it would be great (and possible?) to get news on Primavera this week I am hearing that it will be next Mon/Tues + news of a drilling start date for Alea. The latter is an essential piece of this because oil revenues from Alea will help fund the exploration programme elsewhere. We may get some hint as to other Colombian blocks that they are going for in the next couple of weeks - not that those matter too much at this stage.

Sharesure hi, in spite of the recent and current rise in the price how far do you think this will go on any good news.Twelve pence seems a long way away now i wonder if we will ever see that price again. From a long term point of view anybody buying under 30p should still see a good growth story. Fingers and all other extremeties double crossed!

me too!!

pisces, I've been told that Primavera would justify a move to c. 50p/share. After that it is down to patience whilst they get oil out of the ground, Paraguay blocks drilled or more Colombian blocks to go at. Their local knowledge and contacts are so far proving to be very effective. I do not expect to want to sell for some time to come as I think that the mgt. are determined to build CHP into something special.

Sharesure if these hit anything like 50p in the next two weeks i`ll be wanting to marry you mate! Only joking of course, but currently over 40grand up in the last month alone on these babies.50p would life changing money.

pisces
if 18p is sex changing and 50p is life changing, what price baby changing in your new relationship? lol!
sd

pisces, steady on and flattered maybe but no thanks!!!! My wife seems to want to hang on to me at the moment - I'm sure they have an extra chromosome that just sniffs when a chunk of profit is approaching.
The current retrace was overdue but I reckon will prove very short-lived.

SS, careful I heard that you and SS2 on ADVFN were already an item (in fact inseparable). you could end up as a polygamist at this rate - lol!!

camlad

CONTINUES BUYS GOING THROUGH,ANY NEWS EXPECTED AS ITS SETTLED AT THIOS PRICE FOR A WHILE,MAY BE WAITING TO BREAK INTO NEW TERITORY.