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.

MPH, Agree with your comments. But probably best to ignore her and maybe she'll take your advice. Would be interested to hear how WDBM are doing on the bid later.

Can someone please explain what on earth is going on here? Are they trying to get people spooked into selling cheap to build their stock or is it more serious.....The same message is going on the YOO board!!!!

MM's are getting people spooked, that is their business, weak holders will sell, I have just topped up with another 50,000 @ 8p, you need patience and confidence with what you are doing, although i agree it can be a bit nervy.

The bid still dropping and hardly anyone selling.......hang in there everyone.....bought in at 5.5 and 8.5 so this better fly!!! Ineed to pay the ex mrs off!!!!!!!

Spot on stewart, an MM shake nothing more, theres no volume going through.

WDBM has been buying stock all day, he's no mug. He won't be buying on the way down during a shake out if he doesn't expect it to lift back above highs.

The MM's aren't stupid, they know what price level will start jangling the nerves of the weaker investor.

She will be sorry she left !!

Stewart well done on your 8p purchase. That price is no longer available. 8.1p now

Thanks mate, just would like to have that RNS out regarding Colombia, they must update the market very soon

Anyone can tell which MM is WINS? Thanks

arkantos, WINS has just moved up on the offer from 8.1 to 8.2

It didn't take much to scare him off!

Yes I see M_P_H. I have a hate-love relationship with them!! (just kiddin').
In any case, I think some are trying to buy as much as possible.

Loving this free level 2. I want it forever!! Tell u what, the MM's might not be stupid, but neither are MoneyAM-they might win another subscriber here!!

As Arkantos says-could someone give a name to the MM's. MPH, u seem to be more informed than most and on level 2-got a few mins to summarsie....? :)

Looks like we are having a bit of an earthquake - cos every bl**dy tree in the forest seems to be shaking today !!

Baza

Yes, Level 2 is great, but addictive sometimes.

I may not always see eye to eye with people on this thread and I especially think being open to alternative views is important. But I agree with today's assessment.

This has all the makings of MM's taking advantage of the general pull-back on oil stocks to buy CHP on the cheap. I don't see the signs of a CHP specific panic. The sells are generally small quantities and even the total volume is not big. WDBM is still THE buyer - mopping it all up.

"The stock market is the place where the impatient pass their money to the patient."

WDIK, PDYOR.

camlad

P.S. if I could only free up more money, I'd be buying too.

WDBM, very indicative, all the time they are highest on the bid, highest on the offer,

8.00 and 8.5 respectivley, now that has to say something as they will be privvy to info, they are taking all your shares and not keen on selling yet.

I agree with you camiladasi.

Sorry Arkantos, I misread your question!

Bugz,

WDBM= Williams De Broe (The man to keep an eye on, he's in the know on CHP)
SCAP= Shore Capital
JEFF= Jefferies
EVO= Evolution Securities
KBC= KBC peel hunt
WINS= Winterflood
MLSB= Merril Lynch

Thank you M_P_H!!

Any opinions about this post?

"THE TRUTH


Market makers are propping the share up to facilitate the private placement
which should create 400 million new shares at 5p more or less


that is a dilution of 35% to old shareholders


of course once this is done REALITY WILL PREVAIL and market makers which are now shorting the stock will buy back at 5p in 3 to 6 months time

WHY -50%????


because BUY placement LOW (5 TO 8P let's say)

SELL high and keep selling all the time after the news and the placement

they will make between 10 to 100% SIMPLY BY SELLING higher 400 million shares or part off...


rumours of 20p are non sense as there will be 700 million shares and therefore a market capitalization of 140 MILLION POUNDS

for a company that holds exploration rights ONLY that are valid a couple of years ONLY


until REAL OIL is found and REAL CASH FLOWS pour in

you will be paying BIG BOY'S city bonuses with your own money


if oil drops back to 50$ at the same time, the exit will be really HARD or IMPOSSIBLE at good levels


MANAGEMENT needs to PROVE OIL IS THERE not just raise money at every AGM/AGE

good luck at above 8p"