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 I bought some more this afternoon through Halifax and got them for 18.43 and it showed up as a sell.

syd - i agree buys show as sells and vice versa it happens all the time, hope you take my point about the price though not also set purely on sells and buys.

me too, I bought through squaregain and it sometimes never shows up or buy showing as sell or vice versa...so it is not totally accurate

if the dealer gets a buying price for you which is lower than the previous deal it always shows red/possible sell. squaregain are very good at shaving bits off the quoted price so it's difficult to tell. looking good for next week--have a good weekend all.

Regards T F C 's post, its amazing that no one spotted him saying " l am quite bullish " makes me wonder how reliable peoples reseach is on this thread if they missed that.

My take on the application is that in the event that some last minute problem had caused CHP to be denied their application at the meeting last week, that news would have been transmitted straight away. More likely is that the results of the meeting, for those applicants which are successful under the TEA provisions, are made to wait a few days whilst the official documentation follows the outcome of the meeting. Remember CHP is dealing with a Gov. Ministry which, although it has a reputation for helpfulness regarding their wish to get oil revenues flowing, may have a different priority on the need to rush their paperwork.
I suspect that the necessary documentation may be in CHP's hands by around Tuesday/Wednesday of this coming week if all the relevant stamping authorities are around.

From another bb we have been told the meeting did take place.

is this southward trend nerves before the announcement, or does someone know something and bailing out?

RA It's weak holders selling. I know at least 4 others with the same stake, or more, as me and we are all holding firm. That will be the same after the Primavera award because there is then a lot more to come out of Paraguay - where if CHP gets its third area it will have around 12% of the country's land area at its disposal for exploration. If you consider what are the most promising prospects in Paraguay, the % rises dramatically.

I would also be inclined to say the longer we have to wait for news on Primavera, the more likely it is to be positive. A straight "no" would mean they have to get the news out and explain recent rise.

am out at 17.35[locking in profits, +40%] will look to buy back in later today when sp steadys. like the look of these so will def buy back in. am a small bit player so my tading shouldn't affect sp any

Apologies, sort of saying the same thing as Sharesure over the weekend.

I can't understand why anyone is selling at this point in time!

anyones crystal ball working and know when they will stop free falling. glad i locked in profit now. still a buy for me but will just have to guess when the sp will bottom out.

robertalex - this is not freefalling, merely small profit taking. I should be very careful if you're trying to trade this and get back in. You could be paying a lot higher price in the coming weeks.

Fickle private investors in my opinion.

There is no other reason at the moment for this kind of fall in share price.

will buy in again today sometime just picking my moment. i have free trades so makes margins slightly better[one months free trades that is ]

johne1, that'll be me then !! got a wife and 3 kids to feed , need all the money i can get. lol

Nice one.

The speculation is just the sames as it was on Friday and you will pick up a real bargain.

All in my opinion.

Robertalexander,

No disrespect intended for profit takers. That is everyones choice.

Those that choose to stay in - I wish them luck