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.

Sharesure/MPH
What do you believe is driving the share price increase today?
Is it just the large no. of buys or are the MM's playing some sort of games?
LL

ellio, I never disclose the amounts of stock I hold in particular stocks. However this is one of my most significant in terms of both value and, in my view, potential. I did buy my final tranche this morning as I do not believe that the confirmation of Primavera award to CHP will be long in coming.

thanks sharesure, not interested in amount of your holding(although I'd love to know lol) just if we can expect good upside from here or if we are being sucked in.

great feedback as always and am trusting your judgement!

Ellio... this one will keep moving up & down between the 15p - 18.50p range until some news comes out... be it this week or in 3 weeks time!
The price moves up & down due to day trading and as this one is in the limelight at the moment, plenty people will "ride the waves"
So even if this falls back 15%, means nothing althou would get worried if it fell below 11p

There is strong rumours of positive news this week

Positive news on its way ?

Charting: shares bouncing from a pennant (flag) lately

Emanating from where?

Bought more first thing today as I think news is this week.

blackdown

From where are rumours comming from ?

From free internet boards mainly but also private so "two different sources" in my case

Here is a coment on my thread from someone "expect RNS for primavera this week"

Reckon MM's will try to shake this soon to get some stock. Especially important not to fall for that at this time.

I agree Sharesure, they have no choice but to try a shake if they want to balance out their books. 18p is the obvious level to try and catch a few.

I would be very nervous if I was making a market in Chaco today/tomorrow. The chances of an MM being caught short of stock when an RNS pops out is getting greater as each hour passes.

If the deadline for the rns is the 15th March then it will arrive by close of play wed, however if the 15th is not written in stone, then it looks more likely to be at the next monthly meeting, later this month, when hopefully the main man will attend and put his scribe to the documents.
2517

News has been coming for the last month or so, you will be right one day.

WSLS

The early morning shake. This must be the 3rd or 4th time they've done this first thing in the morning on small sells only to bounce it back up by lunchtime.

My latest information says that both Circle Oil and Chaco ( for those running both of these stocks) will be signed and announced this week and that both announcements will be excellent news for the respective companies.

Sharshure,Have been away for a while glad to see the sp where its at!!
Holding and will hold for the VERY long term.

M P H
Looks like you called it SPOT ON.

Capetown, welcome back - should be just in time for this. I bought a further tranche of CHP first thing yesterday and am surprised that the final detailing on this has not yet resulted in CHP being able to announce their deal. Are you also in Circle Oil (COP)?

Sharesure, I have just sent you an email.

Regards,
KJ

MM's buying back at 16p all the shares they sold yesterday at 18p. Nice work if you can get it.
I expect they'll use this opportunity to grab more to meet buyers demand on the next leg up.

Capetown, it was looking spot on until they gave it another afternoon shake. The MM's didn't quite bring enough sellers out of the woodwork with the first.