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.

Very good point Dibbles!

I don't think we would have even got to the meeting stage if it was unsuccessful. The application would have been thrown out long before then.

The meeting was more a case of making people aware of what's going on and getting the final sign-off.

MPH
I was expecting a gradual increase in price not a decrease given news is close!

MM's will use the lack of news to create some fear and make some money. They know people are waiting for this deal. Not all holders have researched the current situation thoroughly and many will have just jumped on the bandwagon with no homework. It all still looks very good, I'm quite happy to see the price rock back a few ticks whilst we are waiting for the final seal on what will be a company changing deal.
The MM's are fishing for fear, weak holders start thinking "someone knows something" and "are insiders selling" they then sell to the MM's who are only happy to take the stock from them.
I won't be selling any, I've seen this all before and will no doubt see it time and time again, the potential is still one of the best I have seen.

Looks like another touch of nerves. Understandable that some think delay spells disappointment; maybe they weren't shareholders during the wait for the first two deals - they took an interminably long time to materialise. This is going to be a case of patience being rewarded - the long 'waits' between news is just a product of time zones, countries, civil servants and other factors which do not make for rapid decisions. I'm not selling my stake because I am confident that the news on Primavera is going to be what we expect perhaps coupled with other information for the oil production schedule at Alea.

Sharesure
You were going to list 5 positive events this week -Is now a good time?

Bodeng, I haven't received all the information I need yet, but will have later in the week.

Thanks Sharesure
Look forward to hearing from you later-we are back on the way up!!

Sharesure, that is a good point. Sometimes it's easy to forget the problems associated when dealing with a country on the other side of the world.

Just looking at the trades for the last hour since 9am, the bid has remaimed constant at 15.75, but the offer has gradually moved from 15.90 to 16.45. Does this mean the MM's don't want to sell the shares they have by increasing the offer price?
Just trying to understand how these things work.
LL

Just checking in to see if I've missed anything. It appears not, other than a few jitters in the share price from profit takers. I'm feeling relaxed at the moment and think those firm holders will be rewarded in due course.

15.5 to buy

Don`t panic all small sells nobody dumping large amounts, although if good news comes out today they are going to be well pissed off. Sharesure when are you posting more info discussed last week, can`t wait.

pisces
Sharesure said later this week!

this one falling quite quickly (think the rns is on it's way....)
looks like a minor trr shake before move up!

:)

I have just spoken to Sharesure on the telephone who is away this afternoon.
Everything is on track regarding Primavera, and without wanting to say too much the RNS may well be a lot more positive than most expect.

It looks like the MM's have tried one last shake.

How do you know this M_P_H?

He just said he had spoken to Sharesure .

I'm sure that Sharesure will post more if he can when he returns this evening/tomorrow.

MPH
That's very encouraging after the treeshakes and posters saying the RNS won't affect the SP !