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.

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

BKK2 Yes, I am. Nobody seems to be prepared to say anything on that stock at the moment. I'm curious and still optimistic.

How accomodating to drop the sp for a 500 thousand t trade

A BUY that is

Thanks sharesure,

Getting closer to the meeting!

And Christmas

I small stream of sells going through,they must be mad to pick now of all times to be getting out!

doughboy, yes I find it rather odd too.

As you say though, they are only very small.

The money seems to be chasing Henderson Morley at the moment. Given both are "penny recovery" stocks, I suspect a few people are leaving here to jump on the next bandwagon.

MPH/doughboy
I expected some selling but it should soon reverse as we get closer to the meeting!

Hardly any sells so far today ,on the way back up!

Looks pretty strong on level 2. I think we should see a further tick up soon.

Massive buying today, not really sure what the MMs are doing as they shall be really short of stock when the expected RNS arrives, which is better for all us holders as the price shall have to shot up, and a reasonale bid price in the 20's will have to be offered to get some to part with their shares

Meeting is today, with a bit of luck there could be an after hours RNS or one tomorrow morning. - well doesn't hope to wish, fingers are still crossed for a fantastic RNS as the potential is certainly there for it.

good luck all

Tokyo

Tomorrow morning should be exciting with news possible at any time!