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.

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?

Chaps

According to the RNS released last year D Stewart is the NOMAD and Broker. Chaco also appear on the DS website as their client. Topped up again this morning using the locked in CFD profits from previous positions.

pth

Just arrived in my post. CHP's Report & Accounts advising of an AGM on 5th Oct. at 11.00 at offices of Charles Russell, 8-10 New Fetter Lane, EC4.
Daniel Stewart still quoted in the document as CHP's broker, but clients of WDBM hold 108m (26.5%) and Chase 7.3%. In total 49.4% are held by 'institutional' holdings if you include nominees in that category. WDBM may have even more % since they have been high bid most of the time since this document was prepared.
Still hearing that an announcement on Colombia is expected today.

Sharesure Hi,
Are you still hearing the same result?

dibbles, yes.

Alfred, are you about, bloddy ADVFN down again

sharesure,

where do you get you information from, why do you believe the announcement will be today? If it will be why wasnt it before the market opened?

pij, you know better than to ask that.

Sharesure,

Slight drop in price which I guess in MM's trying to spook a few edgy holders, are you still confident of an announcement today, Bogota opens about 2.00pm our time but not sure that is an issue. Chaco seem to announce at different times in the day, no set pattern.