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.

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.

I have been led to believe that there will probably not be an RNS today or tomorrow
- but soon.

The company is aware that there is speculation in the current price and will clarify the situation soon - one way or the other.

stateside

Tick up off WDBM's support.

Predicting how soon we can get news on this seems to be hopeless. I am told that it is all down to the complications of different time zones and 4-5 countries being involved. Agree with Stateside that we may have to wait a little longer but still expect the news to be as good as it has always been thought to be.
MPH watching where WDBM are on the bid is a great pointer. They have 26.5% of this stock in their nominee holdings and are concistently high on the bid. They are sure to be 'insiders' on this, so their confidence is a good bellweather as to how this will turn out.
Some may be spooked by the time it is taking; that's their call, I'm staying put.

Sharesure, please continue to post as much as you are allowed to.
Some posters do not seem to appreciate your info. I for one appreciate your guidance on an expected RNS release.

Too many investors are caught up in the PRECISE date that the news will be out. It is irrelevant when the news is coming, for me the most important thing is that the news is there, it's in the pipeline and we can expect it at any time. Any guidance that sharesure or other informed posters can give is a bonus.

May I just add without wanting to move off topic too much that holders of Petrel (PET) have been waiting for an RNS regarding an Iraq oilfield development contract. While I am aware the type of news is different, my point is the same.

Some investors have sold out after the good speculative rise earlier in the week. Those with more patience were still in at 14:53 today when the RNS was released.

They were rewarded with an immediate 150% share price lift.



I will continue to hold firm in CHP until we see the news.

I also believe that patience will be rewarded.

The company has to clarify the position.

I expect a positive RNS - but it is unlikely to be published before Friday.

stateside

Thanks MPH; its as much an annoyance to me that when you get info. eg predicted RNS dates, they do not materialise. In the case of CHP I am certain it is for understandable logistical reasons of time zones and countries, nevermind that the holiday season hasn't finished. I look forward to CHP outstripping PET's performance! It proves that if you aren't on board before the announcement you won't get on board for the initial ride. I'd rather have a ten bagger than a three bagger even if it required a little more nerve and patience.

Sharesure,

I do hope this outstrips PET, just patience is required now and a steady hand to keep off the sell button.