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.

Are all you chaco holders on the chp email alert?
Its free,and it works,go to there website and register

fingers crossed, Sharesure thanks again for your contributions to this thread.

(Although note, cant stress enough how everyone new to these BB should do their own research and risk analysis)

KJK/GH etc. somebody suggested to me that the Chaco website offers a very fast email service for the RNS. Also dont the LSE offer a text service, I know they offer a premium line. If you get the prices texted to you, and there is a massive rise, why bother reading the RNS, you know its positive, and if you have not invested, you have missed the boat!

vistauk,it DOES and it works

Capetown/Vistauk, thanks I use the email service already - want to be able to try and enjoy my hols as well. Do you know the premium line number for Chaco price?

Greyhound i am afraid i do not,enjoy your hols

I'm quite new to all this (despite I've bought/shares in the past - I never really understood it), anyway, while we're waiting for news, just wondering if someone can recommend a good/competitive on-line broker ? I currently use TD Waterhouse, but have only recently noticed their quotes (both offer & bid) may not be as competitive. Thanks in advance.

Hi gilli10,

I use Halifax online sharedealing and can't complain, they seemed competitive when I joined.

What a friendly and constructive board this is. Wish I had started posting earlier.

Sharesure, will look forward to your post about the five events. I have done a lot of work on the future value of Chaco and its share price. Once we have the news I will put into it my figures and post it.

Also, agree about Paraguay. I am looking more for gas news there than oil.

Greyhound, I use the email alerts from companies and the uk wire service. I think I have found a way of being notified of news by SMS. I'm putting in a price alert a couple of pence above the current price and I'm choosing the be alerted when the news form CHP changes - then I will have to go and get the news from other sources. I have set this up on the A D V F N site. Hope it works.

stockdog, thanks for prompting the news alert idea.

Regards,
KJ

Thanks for info guys, off to Far East but will at least be ready for 7am annoucements, so will be checking in! The longer we wait the more confident I feel about this and agree that the Paraguay opportunities could far outweigh Colombia.

Although Paraguay looks promising, it is still early stage exploration isn't it?
Or am I missing something?

p.s.- morning all.

What exactly is awaiting confirmation?

It's all exciting stuff.

KD.

dibbles, You are right, it is at an early stage but if, as expected, CHP get the third area there which borders Brazil, the Brazilians are already pumping oil out of the structure which CHP's seismic of the geology shows extends into Paraguay. Add to that the fact that with that block they will then have 12% of Paraguay's surface area under their licences (a much higher % if you discount the areas which are not considered worthwhile) and you can see why it has such prospects. CHP has a load of local knowledge to tap into with its recent appointments and they do rate Paraguay as 'like Texas 100 years ago'.

For anyone wishing to know, you can get text price quote (about 50p a shot) by texting LSE CHP (or whatever epic) to 85080

gilli10,

I use hoodlessbrennon, really good to start off with (they just charge 7 a deal)
and a month free... think I made 20-30 trades in my free month, saving me , not sure if they are very competitive with the buy\sell price, but looking at the exact time I have bought & sold with them in the past & comparing it to prices on lse, they seem to me to be ok (going rate)

Sid

CHP tipped in Shares Mag. as one of 10 Terrific oil prospects.

New Chances to get Oil Rich - 10 Terrific Prospects:
*Meridian - Egdon Resources (LSE: EDR.L - news) - Global Energy (GENG.OB - news) - Equator Exploration (LSE: EEL.L - news) - Chaco Resources (LSE: CHP.L - news) - JKX Oil & Gas (LSE: JKX.L - news) - Victoria Oil & Gas (LSE: VOG.L - news) - Cambrian Oil and Gas - Aminex (Dublin: DOP.IR - news) - Max Petroleum (LSE: MXP.L - news) .

HB sp's not that competive out of hours but reasonable during working hours for smaller investors. i am still using my free month of trades.

I use Self-trade for dealing - often inside the spread, and Squaregain for watchlist - particularly like their button to get all RNS from each list in one hit.

sd

I just had quite a lengthy and interesting conversation with Martin Groak. The synopsis, bearing in mind of course it's nothing new and there's a limit to what he can say, is that Primavera is progressing as expected. The licence was most certainly discussed last week and owing to the holidays the most senior person was not immediately available for any potential final approval. That said they're hoping something may be forthcoming this or next week but naturally there can always be some quirks in the system.

Regarding Paraguay, things again progressing as expected, although they have had to rejig some of the media presentations/formats etc.

In summary we are likely to receive a steady stream of newsflow this year.

thanks for that greyhound. are you also known as stretchtarget, by the way...?