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.

stockdog, $65 is not the value of oil in the ground it is an assumed oil price (based on the approximate price currently) before deducting all costs of exrtacting and selling it. See Chaco's figures in their presentation.

Last chance to get in today-news may come early Friday!I have seen news is imminent several times which to me means this week!

where the hell is this news, its driving me crazy!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

KJK - I know, so I was taking a deeply conservative view of only valuing oil in the ground - and it still works for me to more than double my investment within a few weeks. As wells are drilled and oil is finally pumped to the surface I can allow an ever increasing "risked" oil price until I too arrive at your figures over a few years, although I would not use $65 just yet, but $55 as the mid-long-term price - who cares about that difference from where we are standing. Just my way of acounting for the risk that the oil is not there in the shape or form predicted, may need more wells than planned, and any other difficulties of getting it to the surface.

sd

Here's hoping for some good news today...........

"Patience is a virtue, one hard to come by in a world that counts time in nanoseconds."
Maureen Killoran

"Trust your mind to think with time;
patience is the key."
Nathan Watson, from It Will Come

All things come to him who waits - provided he knows what he is waiting for.
Woodrow T. Wilson

Everything comes gradually and at its appointed hour.
Ovid

Doesn't help trix!

I think it would be sensible for investors to be holding/buying soon with the 15th deadline getting nearer.

Sorry I'm lost, what 15th deadline - is there one? appreciate your clarification

Give it a rest bodeng no one here is going to sell and we all know NEWS is on its way.

gilli
The deadline refers the time when a decision has to be given to Chaco on Primavera Martin Groak referred to it again in his recent E mails.

Usual Friday tick down for those who cannot stand staying on risk over the weekend. One weekend soon that is going to prove to be a catastrophic decision; of all the weekends we have spent waiting for this confirmation to come through this has to have a better chance than most of being the last.

Sharesure
Cannot agree with you more about people selling-Are you able to list those positive events yet?

SHARESHURE,back from a weeks hols and happy to see this steady,glad i was not around at brief fall to 15 +,holding thumbs for next week,enjoy weekend

Taken from the wall street reporter interview transcript.

Wall Street Reporter: In closing, could you summarize why investors should perhaps consider Chaco Resources as a long-term investment opportunity?

STEPHENS: I would say because of our focus; were not simply just another junior that is looking for prospects around the world that others have picked over. The company was founded on the basis that it wanted to be focused in South America where new opportunities were coming up. Through old associations, I was able to join the board and get the company involved in areas that are simply not available to outside companies. The network that weve developed here is based on 20 or 30 years of experience. So, we think we can offer a unique opportunity and a unique knowledge of both Colombia and Paraguay. Colombia in particular is a wonderful place to look for oil. It is a very oily country that changed the conditions and rules recently in order to be much more favorable to oil companies. They have brought down the tax rate and the royalty rates, and of course, geologically, it is the second biggest oil producer in South America. It is simply a wonderful place to look for oil. We have an excellent position on the ground and with our contacts in Colombia we can continue to expand there. We are in a similar situation in Paraguay except that of course, were at a much earlier stage there. Thats what we can offer investors.

MPH
Thanks for the reminder-I'm looking forward to next week!

Mention in Money Week p11 under "If you'd invested in . . oil minnows"

Summarises the situation and historical gains from 4p to 16p and ends with "The company now has new financing in place and could still be a big winner in the sector."

Nice upbeat little article.

sd

any rumours out there?? moving up

something happening!

hope this isn't going to reverse! large movement, no news could be sucking people in?