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.

Hell of alot of buying, meeting took place yesterday

Time to wait and see!!

Theres news, got to be, somebody must know?

May be time for a shake out, hang on tight, the news should reward all holders soon.
2517

Spot on GEORGE ,a bit of a shake and then MM`s buy 100,000 shares .

Strawbs - you a friend of Abrahams?

No. Sorry. Don't know him (appologies if it's a her). Why?

He knows a trader called Strawbs - small world and all that.....

It certainly is. Now you know one too. Probably not the same one though. :-) I'm also not sure I'd call myself a trader yet. That conjures up images of people with lots of money, nice cars and massive portfolios (no pun intended). Not me. Well. Not yet anyway. ;-)

Strawbs.

a lot of large delayed buys now coming through, quite a few 250k ones.

It would appear IMHO the verdict is in, now just have to wait for the nomad to release the good news.

end of day for weekend press or next week - any guesses?

The meeting was due to take place yesterday and therefore the outcome will not be communicated to Chaco until today at the earliest, Colombia is 5 hours behind us therefore its going to be 2.00pm minimum before the ANH will contact Chaco.

Any RNS I would have thought will be Monday, possibly 7.00am, I would not want to be out of Chaco over the weekend. AIMHO, DYOR.

3250... on this thread as well.

CS

vistauk,

Yes thought both threads should know my thoughts

Chaco getting a mention pg 44 FT today, on yesterday's rise, on talk it could announce as soon as today that the Colombian govenment had given the green light for it to commence exploration at Primavera.

Good spot greyhound.

Chaco Resources, the South America-focused oil explorer, rose 4.8 per cent to 16p on talk it could announce as soon as today that the Colombian government had given the green light for it to start exploration at Primavera, its third field in the country

Still quiet, guess we have to wait till monday!

I would want to be holding as many Chaco shares as possible as news 7 am Monday is highly likely in my opinion!

Nervous sellers don't want to risk being in over the weekend, they may well be sorry this time next week, I'm holding as I believe the upside is quite strong.
2517

If further national press speculation over the weekend followed by RNS on Monday, this should rocket. :-)

That would be a dirty trick, mon announcement, lol lol!!

Judging by the "trades" going through over the last two days, the market makers are happy to reduce their holdings and let the "risk reward" sit in the market over the weekend. If I'm reading it right that's good in two respects. If the RNS is bad then the price should only fall back to the recent support levels, and if the RNS is good (as we're all hoping) we should see a strong upward movement. No news will probably see a few tree shakes for the market makers to get some stock back. All just my opinion of course. Hope you all have a great weekend!

Strawbs.