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.

1M late trade!! @16.5p

M

Who would sell that much ahead of news!

WAS that a definate sale?

I would guess it to be a buy, but there is no way of knowing.

M

well the price went up today :-)

and down again!

stockdog

hate to fallout with you twice in one day (see SEO) but how is this down, iweb show it up 1.35%

totally agree barney, although lse show no movement. does it matter really?

I agree with stockdog, price rose briefly and closed unchanged - not that it really makes any difference. Hopefully we won't be squabbling over 1/4p soon!

Is something brewing here, a late flurry of buyers scrabbling to get in during the last four minutes of trading yesterday and a fair few keen buyers this morning.

Its looking good

capetown - 01 Mar 2006 12:53 - 1864 of 1878
"i am glued to my screen and will top up the second its out"

I think that is a good strategy to buy or top up. In my view the share price will jump but still move strongly ahead thereafter. Plus you have the security of knowing the deal is done. The only problem is being there when the news is released.

Looking back at the timings of all of CHP's announcements doesn't help you either as they seem to be at any time of the day.This confirmation must be very very close.

KJK
It's hard to watch all day even if you want to!

soooo close & yet CHP, why do you seem to be so far!

KJK - many trading/watchlist sites have an email alert facility for about 40p a pop - if you need to pop to the lav when they're about to make the announcement!

sd

bodeng, I agree. I'm just checking as often as I can. If the past is any guide, all licence/JV announcements have come before lunch so we can drown our sorrows at lunchtime and sleep it off afterwards. But there again these are hardly sorrows just boredom waiting.

stockdog, I use the ukwire one for emails.

Wouldn't mind a text alert service for Chaco as this won't be the last deal they do in Colombia. Think I'll have a search.

Thanks,
KJ

KJK, After Primavera I have a list of five more newsworthy CHP events that should unfold this year, and that's without waiting any more news on yet more Colombian assets which CHP has every intention of seeking out and going for.

Sharesure, what are the events and likely months they may happen in ? I only ask cos i always get out too soon !

Thanks

SH