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.

Sharesure, no-one apart from WINS have moved their quote since yesterday.
WDBM is happy to pick up stock at 8.5, he gave us some super support yesterday when the other MM's were trying to spoof it.
He held firm and we saw a tick up. A great sign IMO.

Very positive article about Chaco.

http://www.minesite.com/storyFull.php?storySeq=2972

sp holding well considering it's Friday and no news... as yet.
MPH any news on where WDBM are on the bid?
Alfred, are you getting any info on how CHP are getting on with the funding? I heard that it was going to a premium on the current price, 25% higher, but not sure how reliable that source is.

Encouraging to see the price hold steady despite some weaker holders selling pre weekend. Market Makers all happy to soak up the stock, not daring to drop the offer in case it attracts some buyers they can't supply to.

I'm looking forward to next weeks RNS.

Next week? thought it was meant to be this week after there was not one last week. Where are people getting these "dates" for an RNS?

Did anyone here read the minesite article?

"Details are yet to be released but the buzz in OZ is that Chaco is close to sealing a deal which could see it move rapidly from would-be explorer to junior producer via a well placed joint venture with an oil major".

First time I've seen mention of production in print.

Tipped as a buy in money week

lindos, can you post the article from money week

Sharesure great tip ! i`m 50% up but tempted to bank the profit as i have lost out many times before.
Are you still confident there is more to come,as i don`t want to bank to early if this is just the start.
If only i had a crystal ball,any way i will be looking out for your next share tip in anticipation.
db66

Keep your chins up everyone. No time for nerves.

From the A D V F N board:

'bodeng - 11 Sep'05 - 16:33 - 3597 of 3600


Just received a very positive E mail from Martin Groak!!!

Geoff:

We are making good progress, but I can't really say more yet. Hopefully it's a matter of days.

Regards

Martin
===============================================================

In a message dated 09/09/2005 17:25:36 GMT Standard Time,
Dear Martin
Are you any closer to the operational statement everyone is waiting for?
Regards Geoff '

stateside

tick up to 8.95

Doughboy, Yes, still very happy on this one. Still going for the 25p-30p on the news (reckon the funding agreement being placed at a premium + the complexity + the countries involved are slowing things down). After that it should be poss. to rate the value of the Colombian deals + anyone's guess on the Paraguay part, to see how quickly and how much thereafter.

Been watching this thread for a while and missed out on the recent movement. Nice call. Cant decide whether to take the plunge! Does seem to be a lot on chat re CHP on BB's all over the place.

Well, tonight shall be decision time! Time to look a figures......

Bugz, A few of us rate this as a 'once in five years' opportunity. The belief behind the recent sp rise is based on the potential of what an oil production deal in Colombia might do for what is at the moment an exploration company looking for oil in Paraguay. The potential if the deal gets announced in the way it is reckoned should give the sp an immediate hike with momentum to 10 bag within 6 months. If you go in you won't be buying any of my shares.

I thought the SP would rise after Martin's E mail-not too long now for news!

MPH How are WDBM doing on the Bid?
If anyone on this thread is really close to Martin Groak, how about reminding him that now that the cricket has finished we need some news; otherwise boredom is going to set in.

Classic shake on a few sells this morning.

We saw this price action right before the bullish telegraph article boosted the price making sellers sick on the Monday.

News must be imminent if the MM's are trying to buy stock??

Sharesure, cross posting!

WDBM is right up there lapping up the sellers stock................

Incidentally, I have been looking back at the PET price action to see how events unfold and how the crowd behaves on a share that is waiting imminent news.

The MM's dipped the price down in the few days before the RNS. Those that sold weren't very happy when it rocketed 150% a short time after!!

I hope this shake doesn't catch out any CHP holders.

MPH More fool them if it does. You can try to give folk a good lead but it gets a little wearing to be expected to know exactly when news will get announced, particularly when the deal is believed to be so huge for such a small company. Think that would make one an insider! I am as certain of my info. as I need to be for my peace of mind that this will be fantastic when it finally happens and so will wait pretty well for how long it takes. The T/O that has produced today's drop is pretty insignificant and is quite a good pointer to how geared the rise will be when news is out.
I agree with you about MM's and price action before announcements. Let's hope it follows here.