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.

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 !

Google Alert for: Chaco oil

OilVoice.com | Chaco Resources
Chaco Resources - Placing Raises 5 million For Colombia Operations ... To manage
your newsletter, and receive free Oil Company Alerts log into your free ...

Just had this on a google alert, is it old news being recycled cannot log into oil voice so no idea????

barney,

suggest you familiarise yourself with this website. By clicking on the Epic code above (CHP) you can then select recent and older company news and read the RNS that are listed. There was a placing in Oct 05 for 5m, suggest that may be the answer you are looking for.

barney12345, the money was raised on 3rd October 2005 for a 25% stake in Alea field in Colombia.Afraid it is old news but keep those eyes peeled just in case.
cheers, pisces.

yes cheers, guessed it was old as no RNS. Why do google do that????

Following on from MPH's post yesterday the RNS is imminent and believed to be positive ( ie it would be an enormous surprise to everyone involved in the Primavera application for there to be any last minute problems to CHP being awarded this very lucrative block). When the RNS is issued expect updates + additional information on other activities of the company.
Not in a position to comment more fully at the moment but I am not selling my stake either now or in the immediate aftermath of the RNS because there will be a steady stream of news to follow + CGT advantages to staying in this one for either the 12 month taper relief or the even more valuable 2 year tax break ( danger with the latter is that a takeover will prevent CHP remaining independent for that long.

Hi Sharesure, thanks for keeping us updated, still very positive then........

Are you still hearing similar on COP as I have a small holding there and thinking of topping up on both soon?

dibbles, very positive on both CHP and COP. Predicting the arrival of RNS' is a mug's game but I will be disappointed if both have not issued news in the next 5 trading days.

Evening all - just managed to find an internet site whilst on my hols in GOA and was mega surprised to find the amount that CHP had dropped whilst I have beeen away -I thought we would be 20+ by now and an RNS.

Fingers crossed - hope the RNS is soon - not selling - feeling very positive on this one.

PS - for those that are interested - Goa is a brilliant holiday destination for this time of year. The weather is excellent (32 daytime 24 nightime)- the beaches are fantastic, the food supurb, the people very friendly - a mix of rich and poor co existing alongside - can thoroughly recommend it. For those with lots of shares - and when the RNS comes - property is also very very cheap

Good luck all

Baza

Here are my thoughts FWTW

1) Share sure seems a) to be an honourable chap and b) to know what he's talking about
2) He knows that pure ramping here would not affect the SP that much if at all
3) If he was trying to hide bad news while he sold out, he couldn't a) because lots of others would also know by now and b) see 2) above
4) Since the SP is not collapsing in large steps, and there is no published news, it is not being caused by leaked bad news which would instantly crash the price
5) MMs seem to be walking the SP down in small steps (more effective at creating fear than a single large step down at which level it is no longer worth selling out) until the weaker holders crack, to be replaced by new buyers spotting a "buy-on-dip" opportunity they thought they wouldn't see again - so the MMs are making money whilst we sit and wait for news.
6) If Share sure is right, MMs have every reason to want to scare out stock to re-sell on breaking news - but they're not having much success - look at the lowish volume and the excess of buys over sells. So the majority of PI's and institutions are holding.

So CHP is as good to hold today as it was yesterday whilst we wait for news which is likely to be on balance good - or, as has been argued here before, the bad news would have been reported by now.

BTW look at the nice correlation on the chart between SP peaks and volume peaks recently - a good strong sign.

I'm sticking with it.

sd

PS. By God, Sharesure, I hope you're right!

I think that these are definately worth holding, thinking of topping up again (very small amount is all budget can allow) but best price on offer is 15.42!!!

I'll second that stockdog, theres a lot riding on it for me too.

Peter