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.

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.

MPH,you were close!

Guess they may fall again this am if news is late,but long term i am not worried

Chaco Resources PLC
15 March 2006



CHACO RESOURCES PLC

('the Company')


15th March 2006

AIM: CHP


Interim Announcement re Primavera

The Company has been advised that the National Hydrocarbons Agency of Colombia
(ANH) will not be in a position to issue a formal notification on the outcome of
the Primavera application until after next week's ANH board meeting. The Company
anticipates that notification will be received by the end of the month.

Its wait untill the end of the month now.

Guess all the short term holders will flee this am?

Yes ,but we can get some more at 12 to 14 range?

HOPE so

The need for the application to be re-presented is, according to my information, to clear up a relatively minor point; I am still of the opinion that the actual decision was made at the last meeting and subsequently ratified by the minister on his return from holiday subject to the clarification of an ambiguity, and that the success of the application is not in doubt.

SHARESURE,
Good to see your post i am assured

Sharesure, i assume "formal notification" is Chaco's way of telling investors; "We've raised the funds, been given the nod by the Colombians, all it needs is one man to sign and it's formally ours"

MPH I think it is even easier than that. I believe that there was a glitch in some of the documentation which on an application of the size of this target field would be extensive. There are all sorts of areas for drafting problems to creep in and it is that that is likely to be the problem. Being patient on this stock will pay dividends in my view.

That makes sense Sharesure, with a field of this magnitude I'm sure all parties concerned want to be sure they have the documentation correct.
The meeting is next week, Chaco are expecting to release an RNS shortly after that, it's not a long time to wait.

I expect after the initial shake out, we will creep up steadily towards that date as short term buyers and investors topping up drive up the price in anticipation of the RNS.

Where do you get your info from Sharesure?

Good luck all.

from another board:

"WRITZ - 15 Mar'06 - 08:20 - 12258 of 12258

KJ and others...

Just got off the phone with Martin Groak (if anyone else has already reported on a similar call, apologies).

Apparently there was a mistake in the transcription of the application materials. A 3D seismic was represented as a 2D seismic (quite a big thing), so the whole thing has to be resubmitted, now in correct form, for the next board meeting. My understanding is that the board formally endorses the application.

I asked him if he was chewing his nails. He assured me he was not.

So... on the strength of that, I won't be reducing my position. DYOR"