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.

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!

Couple t trades @above bid so a good sign for the morning?

money for old rope the MM game. If the price hadn't moved at all today it's unlikely anyone would be selling. But because it's rocked back from highs some panic. MM's know this and use it time after time. Yet still investors don't get wise to the games or choose to let fear take the place of rational thought.

The story is the same as it was this time last week. Actually that's not correct, the third deal looks even more likely now due to the placing.

MPH
any idea on the timing of the RNS!

Any relevance in the fact that there were a lot of buys between 1630 and 1700?

Most of the after hours trades were t trades,does this mean they were picked up by the mms?,if so the previous posts and SHARESHURES post is spot on?

hopefully thatwill be theMM's auction time trading. should bode well for the morning[fingers crossed] i am not too worried at this time and holding out

bodeng, I would expect to see an official RNS by the middle of next week. However I would not want to rule out something sooner.

Amities mes potes / Slt . Great news for you all !! Forever the percentages player i sold 75% of my meagre 100,000) holding @ 17.99 ater buying at the pre 10p level . l bought this stock merely on my favourite varaiables = volume/ momentum/ dynamics and responsive mms who are running around like headless chickens to get a key on this price did the rest. . An element of the potential of CHP at the moment is based on hype ; but not for a second do l think this is the whole picture. Far from it .,,,,But 200p ? Perhaps in five years..For even perfunctual observations illustate that this stock has potential . . But they are not good enough reasons to hold a stock .And 8k profit in less than two weeks cannot be ignored. So it seemed prudent to await the inevitable retracement and watch the fundementals and chart of CHP as it unfurls ,,,l'll try and jump in after ive done all neccassary and relavent researches @ the 14p level after the froth has evaporated and other % players close positions. . As another poster pointed out i think the real news will come in the summer months and until that arrives i wish you all well in your endeavours ! ,,,,,,But one thing the stock market has taught me is ,,,,,,,Never be greedy. Take what the market offers . ALWAYS .....But there again im not an investor as such . lncidentally those T trades were booked during market hours ...@+J ...

Looking at CSP as well . Have a small position @7p for the very same reasons as CHP @+ ...J. ....Roly take a good look at AFR{ bought yesterday @65.88)who have a small percentage in The Sao Tome/ principe acreage with Texaco / Chevron as operators The potential of this prospect is so vast in excess of 20 international oil players bid for this block .....With EEL as well we are geograhically wellplaced for to exploit the shelves of BOTH islands and the shallow delta waters of Nigeria . ...There are over 20 aircraft carriers, destroyers , Frigates and all manner of naval / air power ; all assembled with the remit to protect West African oil for the USA + ,,,Check out the "Carter doctrine." . Quite frightening . @= J ,,l am going to start a thread on it given time . l was juste set to start one on CDL but someone else started one ....Anyway good luck to all .......@+ J

TFC, surprised you've jumped off this one. Agreed a profit is only that when you've chrystallized it.
Those end of day trades suggest to me that this tree shake is over for now; if no news by Friday then maybe another bout then, although who'd really want to be out with likely press coverage in Shares on Thursday (if they can be bothered), IC on Friday and then the weekend press - any are likely to want to be able to say that they spotted this stock before it became really famous as soon as next week.

TFC, I remember thinking that in the past with JKX and selling in the 40p range to lock in what I thought were good profits.
Boy have I regretted that ever since, but good luck with your other investments.

This from John Glover
Small Cap Trader, worth a read.

http://www.smallcaptrader.org/mydiary.html

Wonder if we`ve found a new support level at 16p, hopefully whist waiting for news the price will hold firm. Notice the spread has been fairly large for most of the morning ,this seems to have slowed volumes down although there still above average for chaco. Suspect once the spread has tightened we may see more buy`s coming through.

I wonder if today is a good day for a top-up?????????
With price weakening this afternoon again and timing being everything.......

pisces

I don't mind the resistance forming at 16.5p for a few days. Once we break through this it will act as support - cf. the pattern at 12p. Much better this way than a vertical ascent followed by vertical profit-taking.

sd

That's more like it, I understand the meeting is 23/24 of this month, so should know the verdict soon after, hope it's good news.
2517

One of the reasons why I'm so bullish on the 3rd deal is the joint participants, Expet and Argosy Energy - both of which are local Colombian companies.

Perhaps someone can give better information here, but under the Technical Evaluation Area permit (TEA), I understand that parties have to be able to match higher budget proposals. Could this be the reason behind the recent placing. It seems too much, however perhaps they wish to demonstrate their funding abilities?

Greyhound, Expet was only recently formed (late last year) and looks as if its sole purpopse was to be a partner with CHP. Certainly it is not trading apart from the CHP deals it is involved in. I think you're right and its main asset is local connections. Haven't heard of Argosy and their relationship with CHP - where did you get that info from, please?

When CHP bid to take a TEA area away from an incumbent, the incumbent has 1 month from notice to match or exceed CHP's bid. If they don't at least counter-bid, including a commitment to exploration/drilling/production, then the ministry can take their license away and give it to CHP provided that CHP (demonstrably) have the funds to meet the bid they've entered.

For Alea, the incumbent did counter-bid and CHP ended up coming to an agreement with CHP funding the drilling in exchange for a 25% share.

With Primavera, the 1 month counter-bid period is long over and we are in the 60 day ministry consideration period. That could theoretically go into March but there is a ministry meeting this week - hence all the speculation and rumour. The recent placing which raised c1.5M also implies that CHP needed to have demonstrable funds - again feeding the speculation/rumour that an award is imminent.

WDIK, PDYOR.

camlad