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, 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.

Top-up time coming....:)

Sharesure, don't let the ungrateful b**gers get you down.
Major deals take time, most SEO holders know that by now.

Dibbles, thanks. I reckon this one will repay any patience req'd now several times over. Just hope that we don't have to wait a lot longer.
With MPH watching the Bid and seeing where WDBM are on it, that is a very good pointer as they will be insiders to this because of their large nominee stakes.

Sharesure, you are right WDBM is indeed the man to watch. He is the "AX" as Nasdaq traders/investors call it, ie: the market maker who moves the stock.

WDBM is clearly the "AX" in this stock.

Not so surprising to get the tree shaken so much given the wait for news. So long as it isn't anyone connected with WDBM, time to hold tight or even add, in my view. Getting off, in the hope of getting back on at lower levels, would be a very high risk strategy in my view.

Hi SS

I have used todays pullback to top up again - the fundamentals look pretty good to me.

patience me thinks

Baza

Anyone on Level 2? Cant see why the sp drifted 8% since 10am.......

bugz......try treeshake.....down 5% not 8%.....and most of all read and learn.

ps.....and here's another clue.....what the rest of the market like today?

Bugz, MPH is on level 2 and is keeping close watch on this, particularly WDBM's bid price. There was bound to be some nervousness at the time it is taking.

Baza, smart move; I'd do the same but have run out of funds until something else pops up; cannot see that happening in time for this. Another one to keep your eye on is WRN; difficult to predict how quickly and also not easy to buy shed loads, but might be a good ride over the next 2 months.

Thanks SS - will take a look

Baza

It only down half a % and is on the rise, closing higher than it is now. Sorry read 8, not 5 - fair play. I'll be honest, don't see why this would drop before a big RNS, even given the example of PET.

Sorry SS.

Hadnt seen ur post before writing the above. Well it is a bit nail biting. Sod it, off to place a trade... :)

Bugz, in case you don't have L2 WDBM is a buyer, high bid @8.15.
He's been there most of the day.

I see the reason this is dropping today is purely MM's scaring out a few sellers as the RNS is delayed. We saw it a few fridays ago, they gave the tree a good old shake to scoop up any loose stock, what happened on monday.....it made all the gains back and went to new highs!!! Same old tricks.

Shrewd move those that are following WBDM's lead today. I guess Merrill won't be giving much stock at 8.5 before running.

(Edited)

bugz....it's not a huge drop....the market today has clouded the picture....mm's maybe using this as an opportunity to shake out some sellers prior to news....as mentioned earlier....time will tell....perhaps read and learn should be read as 'watch and learn' when all hell's let loose....I feel something big is coming whatever it is (just hope it's good!!).

Well I threw my whole student loan in at 8.46 so lets just hope all hell is let loose soon! ;) I'll have no beer money!!!!

Bugz, no beer money!!!!!!! Thats a step too far. LOL. Good luck.