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.

belisce6,

copy of email from advfn from fd of chaco,

Message today from Martin Groak
Good morning Geoff,

I didn't see the Telegraph article (if you have it, could you please let me know what it said / fax it to 020 8789 2136?)

Things are moving forward, but key people have been travelling extensively, which is itself time-consuming, so the next RNS to go out will only contain the notice of the AGM. But we are very busy behind the scenes in order to get a more operational newsflow out in the next week or so.

I can't really say more than that right now.

Kind regards

Martin

cc

thanks mate;

the first thing that springs to mind is why would he say the following;
"...so the next RNS to go out will only contain the notice of the AGM. "

...didn't think that he was allowed to tell people what RNS's would or wouldn't contain before they come out.....

Companys do tell in advance when a AGM is due to come out.

This is taken from another place by someone who has their finger firmly on the pulse.



'Not a bad day but a brilliant day.

Now back in front of a computer and it seems to me that we want the price to hold at around 8p, as it has done for most of the past 3 days.

It seems that the assets will be signed over when Chaco can give the Colombians evidence of funds being available to spend on the assets.

Therefore, news can only be released when this evidence has been given, i.e.,after Chaco has made a placing. To make the placing it will be easiest, IMHO, if the price does not run away. A continuing price of around 8p until the fund raising will enhance chances for a successful placing. Therefore, a brilliant day!

If all turns out as suggested on this board, then if and when the placing is made, it will represent a great buying signal.

Best Regards,

Please DYOR

PS Victor [a serial doubter from adfvn] put up or shut up. Write a call option for me in Chaco. I will buy a 3 month call option for 2 million Chaco shares on normal commercial terms. As you think the price will fall to 5p this must be an excellent opportunity for you to earn some money. Of course I will require evidence and security of your ability to deliver on the trade.

Are you sure that's not breach of copyright Alfy ???

I don't know but I didn't get much sleep last night. I don't think i have ever been involved in such an exciting stock.

Looks an exciting prospect but if CHP are making a placement what if it has already happened in the rising strength of last week and at less than 8p?
Just a question, no attempt to put a dampener as this is on my watchlist but I've had several emerging stocks do this, folk jump on bandwagon, placement made on the rise and the sp falls back temporarily. Chicken and egg this one, if something majoe can be announced it will fly but as SD says, may then fall back a bit BUT if placement made first at say 6p you know where the sp will head first.
Thoughts folks.

Can't see no bid prices on streaming prices.

is ok now.

alfred,

so if we pressume the placement is around the 8p mark, does that mean we will see very little share movement till the RNS?

cc

ps early start, are you a dustbin man?

Re Placement, I heard that it was hoped to place the shares at a premium to the sp. That was at a time when the sp was just hovering around the 7p mark. There are a number of figures being rumoured about Colombia's potential for CHP; even using the lowest of those estimates, heavily discounting for % recovery and for sharing with development partners, puts a likely price of around 25p on day one, climbing to nearly 1 when oil actually gets to the well head. With that sort of potential, if an institution was 'shown the books' and given a chance to get a significant block of shares they might well pay a premium. The potential of the Paraguay licences is thrown in for nothing on that basis; if some of the current delay for making an announcement is because a suitable South American partner is being sort to explore those areas, but is announced at the same time as the Colombia TEA contracts, it is easy to see why there is so much excitement.

Sharp uplift just happenned. Maybe the announcement is today rather than tomorrow, which was rumoured last week.

Sharesure,just bought 350000 shares through t.d.waterhouse but not showing on screen again,why do they show sometimes and others not?

Much hype, I heard news would come yesterday, now I am hearing Thursday. Good think is the sp is still on the up. I believe news is imminent.

pisces,

350k shares will be delayed an hour.

Alfred, Thought I might join you over here as ADVFN is down due to a power failure, what are you using to track the shares at the moment, I have Lifestyle UK, I picked up a further 50,000 yesterday, not got anywhere the amount you have but I have 300K+ now and am patiently waiting, this is more stressful than the Ashes.

Any thoughts on a placing price.

stew,

Only using this site. Very frustrating when ADVFN down.

Alfred its back up but all over the place, chart wrong plus other tools not working yet

The 'sell' at 12.04 of 500,000 was a 'buy';
Pisces, good move. As Alfred said sometimes transactions get delayed, partic if you sell to a MM who is aggregating a few transactions to hide what they are doing.
Certainly need that announcement, there are some many estimates of what the Colombian deal is worth.

WDeBroe high bid AGAIN.

He wants all the stock he can get.

We may not know exactly when the news is due. The company broker sure does though.

The company broker is agressively buying......