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.

TFC
Bonjour Jamie, you don't seem to share the same enthusiasm that others have for this share...as a respected poster and with your links to the oil industry, I would welcome your views on Chaco.
Thanks in anticipation.
LL

Remind me - is J'amie the subjunctive case?

Stockdog,
I'd tell you if I knew what it was! lol
LL

LL, I'm not sure strict conjugation applies in the Fens does it?

it is interesting that with the meeting being held this week that Chaco have conservatively said they expect to hear by the end of the month.
reality suggests they would know within a short time of the meeting ending

Tokyo & brianrog It seems that the mistake on the last documentation was a Ministry one therefore it may be an item that they will prioritise to sort out early on in their meeting. Suspect that the confirmation may be available very soon on Thursday.

sharesure. are you able to update us with the further information you mentioned earlier this month, or will you post it after th RNS?

ps any information is greatly appreciated.

TIA

Sharesure - I'm reassured that the documentation error appears to be a Ministry one rather than a Chaco one. The latter really wouldn't look good!

Well fingers crossed for Thursday, it's a long termer for me anyway but a little rise would be reassuring!

Vistauk I am compiling a list of future events but until the RNS is released on Primavera it isn't possible to complete it. The Primavera block, apart from being very oily - as shown by several surrounding fields and also what the company has extracted from the seismic records they now have - will make such a big impact on CHP's existing reserves. I don't regard Thursday's meeting as anything other than a rectification of an admin. error.

Sharesure,
Your posts are as always appreciated
Good to see the sp is holding steady

Sharesure
With the time difference I assume we coukln't expect an RNS until Fri am at the earliest?

bodeng, don't know but it is conceivable that this will be dealt with at the start of the meeting to get decision published quicker.

sharesure... am I correct in thinking you also use the name sharesure2? If so would you mind posting your last thread on the other board, on here?
TIA

A bit dangerous trying to put a date on when the RNS will be released, if it comes Friday then I'd be very happy as the weekend press would be able to make a field day of it, but more than likely the week after the meeting IMHO. Fingers crossed as sooner the better for all of us.

good luck all

Tokyo

I am bullish of CHP, I wouldn't hold the shares if I weren't, but there has been plenty of fuel for the bears, ie the rns was expected to be around the end of feb. it wasn't, the reason being that the main man was on holiday and he needed to sign the docs. we are also being told that there was an admin error on the docs.(it happens) so it's not surprising that there is some weakness in the sp, no one likes uncertainty, hopefully the rns will be positive and we holders will be rewarded. Like I said I'm bullish on CHP and have topped up twice on weakness. I appreciate the more informed posts of which there are many on this thread, thanks guys.
2517

Vistauk, as requested.
If you are waiting until after the RNS to buy that has its risks that you will be paying at least 33% more and maybe will not get the quantity of stock you seek to buy. There are others close to CHP, notably one particular broker, who expects the sp to move up very smartly to much higher levels. As a long term holder, how long it takes for the company to establish the full extent of its potential assets doesn't really matter; my big concern is that the moment they acquire yet another block a larger competitor will try to buy them cheaply.

I don't regard Thursday's meeting as anything other than an admin. mistake being corrected and that the confirmation will come through very quickly.

Sharesure thanks

Sharesure, are you still in COP

peter

Sharesure, just read your post on the COP board,I guess that kind of answers my question

Peter