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.

Thanks fnark

GREAT info,thanks from me too,think all the dosh is going into EME today so we may have a quiet one here,Great to see the price holding steady,and looking forward to it doing an eme! SOON.

Good luck all

fnark, are you the same person who is in position 4 in the 'investor of the year' competion? If so, well done, no doubt you are hoping to go much higher soon if you have the lot in Chaco!
Frampton (position 36, but still hoping!)

News could come this afternoon but one signature is all we need!

Sharesure, I did not receive the email + phone number. I am new to this board and learning my way. Have tried to add my email to the KJK. Am out this afternoon.

KJK, email me again as that worked, with your tel. no. and I'll call you straightaway

Can anyone confirm they have 16.95 as a buy. we had this last friday, the spread looked wider and some sells were buys.

Fliper
I have just been able to buy @16.90 through td waterhouse,hope this helps

Capetown, good timing!

Thx shareshure
Topped up and thats it now all up2 chp
holding thumbs

Sharesure
I look forward to your listing of five positive events next week-I can guess some but not that many!

lots of buys marked as sells,picked some up at 16.55.

My response to a question on another board may be of interest.

Matt19,

In response to your question, on the short term share price I have outlined my thoughts. Conservatively, I think it could well be around 50p - not immediately but in the few weeks following any positive RNS.

Why? Well, the share price hovered around 8p after the Alea and Puerto Lopez announcements. Therefore, 8p represented a discount of 55% of the estimated net present value of oil potential/resources of 18p at that time (based on oil at $55 a barrel).

Any guess now depends upon the companys estimated potential resource, and applying a similar 55% discount. Im currently assuming a 400m bl estimate and I have previously estimated a potential net asset value equating to a share price of 238p. But I think this value needs to be discounted further due uncertainty about the potential resource of 400m bls.

Applying a 55% discount to 238p, gives 107p. I want to discount this value by a further 50% due to uncertainty, giving my best guess at an appropriate short term share price of 50p to 55p.

I do not think this will happen overnight but over the course of a few weeks after the announcement.

But this is based on my old figures. I believe these figures and assumptions (derived from the company's presentation on its web site) are too conservative and now out of date. My latest, more realistic figures show greater potential. Once we have the RNS and a better potential resource, I will update my figures and post them. Then you can all ask questions, pull them to pieces or whatever as part of a process of making up your own mind on them. I will help in any way I can.

Primavera will not be the last application for oil fields in Colombia!.

Remember this is not just any old licence of an unknown area. This application is the direct result of Chaco having brought onboard the experienced oil executives in Columbia, with their multi-national company in-depth knowledge of where the oil is in Colombia.

Regards,
KJ

KJK, Thanks for that. Broadly I go along with your conclusions re sp. Just one question for the moment. Have you factored in to Primavera that CHP get 55% of the 400m barrels and similarly applied a share of 25% for Alea and 54% for the second area?
I agree that Primavera will not be the last Colombian TEA assets they go for - Graham Stephens confirmed at the AGM that there were other prospects they wanted to go for. Obviously with more publicity a few other companies are jumping on the bandwagon but CHP's local contacts should be an advantage in them getting more than their fair share of what they apply for.
Re your comment concerning an important official being away on holiday and when he returns I don't think that was necessarily required for the official paperwork to be released to CHP, so the RNS could come out at any time that CHP has that document and an agreed RNS - there are three countries/time zones involved + the Nomad would have to approve the detail of what is released.

Sharesure, I have factored in the precentages you mention.

Should be a good week-good luck to all holders.

Plenty of sellers out there, impatient for the rns perhaps, I hope I'm wrong but imo we will have to wait between 2 - 3 weeks for the rns, ie after the next monthly meeting.
2517

In the past couple of days, Mr Groak has answered a few emails sent to him & on each occasion has said that LSE rules do not allow him to say too much, but that news is imminent - i would not call 2-3 wks imminent IMHO, but then again, you never know. Here's hoping it's sooner rather than later...

tudwick
I couldn't agree more, 2 - 3 weeks is not imminent, it's just that with the main man not attending the last meeting, and the documents needing his signature, will he be able to sign them prior to this months meeting, I don't know and would like to be proved wrong, I just have my doubts.
2517

The deadline for news is the 15th March i believe, so wed next week news has to be out good or bad.