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
Independent today says news is imminent-do the rules allow an RNS later today!

Capetown/Bodeng Still reckon it might take until Wednesday for all involved to put their stamp on the approval.

Well, some ride that was, in the excitement I've forgotten the price we started at today, glad I'm still holding, thanks for all the informed posts.
2517

The smart people know were there at with this one, this was a major shake in advance, we all fall for it time after time, and unless you are the one shaking and laughing it's very difficult to know what to do, but we all know 9 times out of 10 it's somebody playing a game!

Bought some at 18p today...looks good in the medium-long term

I'm not sure what the fuss is about today????
You only have to look at the charts of VOG and EME to see how volatile these stocks can be on a day to day basis whilst the trend is still up and the long-term story remains the same.
Only an issue if you are day-trading imo.

Looks like the start of another treeshake - fun for daytraders. But for investors it's time to hold all your stock otherwise you ruin your CGT taper relief qualification.

No prizes for guessing who's at high bid happily scooping up those sells.

I reckon that we should all come back in the next life as MM's; it's such an easy life.

WDBM driving this, just Merrills left at 18p

I hope news comes soon as i don`t think the old ticker will take to many days like today!
LOL

Presumably we are going to have to live with this sort of volatility until there is an announcement. And then - a rapid ascent/descent (take your pick at this stage) depending on the news.

DB66
I hope so too-ok if it is going up!

looks like the rollar coaster is in motion again....

Blackdown, had CHP's application been turned down the announcement would have been possible (and required) straightaway. They haven't had their application rejected.
The formal documentation granting the TEA to Chaco has yet to come through the Ministry's system and CHP have always been careful to make sure that they have enforceable documents in their possession before making announcements. Frankly, if a few weak holders get shaken out now that does not matter; it could be beneficial to give existing and longer term investors the opportunity to pick up more shares before an sp north of 40p becomes the entry point.

GREAT post shareshure,
I am much more confidend today,think that yesterday was the first time in a while we had seen any red on this and it un nerved some,including me!

Glad i held

Capetown, you have an email on its way to you.

sharesure ... anything I should know aswelll... ;)
lol

With ELP and now CDS both disappointing on their drilling results, let's hope us oilies have better news with CHP, should hear soon.
2517

2517, what was the disappointing news from CDS - I can't seem to find that?

thanks,

camlad