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.

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.

Anybody got level 2 prices?

50k 17.3
100k 17.25
100k 17
50k 16.9
50k 16.8

50k 17.8
50k 17.9
200k 18
50k 18.3

100k on the top bid now

Thanks, I think we will see a little rise each day untill news comes out. After that it could go any way.

Big tree shake today- need to hold on as news is close!

Ditto don`t get sucked in,there are obviously a lot of day traders taking easy profits, more fool them.

Wait for the big raise in the morning.

Unfortunately on ADFVN there are a number who have a vested interest in talking this down; it's typical how these new names appear from nowhere claiming to know so much but don't. It is a pity that the LSE doesn't outlaw guaranteed stop-losses, it might even up the playing field. One poster on ADFVN should be laying himself open to being sued for defamation. The mgt. team I have met at CHP are a very straightforward bunch and those who back them will be well rewarded.

Same thing going on on iii. I think after the recent performance a few shorters have got hold of this and a few that have missed the early boat.

I hope I'm wrong because I have a large holding here, but perhaps chp won't get the news they are looking for, meanwhile I continue to hold, good luck all.
2517

If you were an MM and short of stock prior to a brilliant announcement wouldn't you engineer a shake out even if it meant busting through alot of automatic trades. I had thought news was due next week but the last hour's trading suggests it might be sooner.

Sharesure
The value of CHP has gone up by 3mill approx,- seems to be the 17 mill shares x the SP so the co. is worth more in total!