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.

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

Blue Index are ramping these

Thought blue index cfd larger stocks.

So did i

Splat,

What do they say about them ?

Better to be in tonight than out in case the RNS comes early tomorrow!

I'd rather it came right now!

hmmm might invest more from some of my DGT profits.... hope this one comes good. No pressure sharesure ;)
lol I'm sure however this one turns out, most of the regular posters here are acting in good faith... cant say the same for other BB!

I'm with you Stockdog...I'm sticking with these and have even topped up with a 25,000 share purchase today.
In one of MPH's previous posts, he summarised that Chaco was worth 4p for Paraguay, 14.9 - 19.5p for Alea, and 3.1p for Puerto Lopez....That's 22.0 - 26.6p without Primavera. No doubt any bad news would depress the SP short term, but the current assests alone should support the current price and more in the longer term.
Good Luck to all holders....see you all in Goa!!!
LL

Sharesure
I also understand that the RNS is imminent but understand it may not be possible to quantify the amount of oil.You said the RNS will be positive in which case do they not have to at least estimate it?

Stockdog re#1970 Thank you for my online appraisal! Feedback as follows using your numbers:
1. Totally agree with you; thank you.
2. True.
3.If I was selling you'd know because as you might expect I hold quite a few of these. If I had some spare cash right now I would be stuffing my boots with them even more.
4. There is no news - good or bad. All that remains is for the Hydrocarbons Minister to endorse his dept.'s decision. As near a certainty as one can get, but until the paper is issued there is always the small chance of an upset but nobody I know is reckoning on that happening.
5.There is no harm in 'shakes'; I'd rather a new raft of shareholders join in than have less committed shareholders still around.
6. I am as certain as I can be that this is going to turn out very well, not just on Primavera, but on subsequent projects.

Bodeng re#1981 : I am certain that nobody from the company is allowed to say what they believe is in the Primavera block no matter how excited they are about its potential. Wait for the announcement and look out for what others close to it are more free to say and then decide if those people have a track record of being accurate.

Cheers Sharesure - and thanks for all your informed views.

Never in the history of human investing has so much been stacked by so many on one little RNS.

We will buy them in the hills, we will buy them on the beaches . . . .

gibber, gibber . . .