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.

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......

The poor punter who sold 1,000,000 earlier on is going to be as sick as the proverbial parrot a short way down the line. Wish I had had the spare cash to take those off him/her. Too late today for news, so look forward to tomorrow and hope they make it.

Just bought 22,000, what are peoples thoughts on this over the next few days?

So that was the reason the bid price went down from 8.5 to 8.4, a 1,000,000 and a 300,000 sell at around 15.31.

syd443s What about 25p-30p on the announcement and rising swiftly over the next 6 months to 1.? Some will say that is a ramp; if what I have pieced together is near the mark then it won't be. There are others who have higher expectations. Just hope we don't have to wait much longer for an RNS and hopefully that will spell out the reserves in sufficient detail to form an accurate view.

.

pth, no I didn't; maybe they've gone home at MoneyAM! Or try again.
aldwickk : don't know about those trades; doubt they were WDBM clients as they have generally been highest on the bid. They must have put so many of their high net worth clients into CHP it is inconcievable that they are not absolutely certain of the outcome.

SS

You have mail. Let me know if it gets through.

pth

pth, it did. I've replied.

SS
are you sure Williams de Broe are CHP's brokers ?

Predateur

Pred. Good question; do you think it is still Daniel Stewart?