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.

sd, I have remained on the sidelines today mainly for the simple reason that I do not expect to be selling my holding in CHP for 12 months, ie to minimise CGT and apart from letting any TEA agreements in Colombia move into production but to allow a little time for the exploration in Paraguay to take place and see what is there.
The reason I have been so bullish about this stock is that at the last EGM the Board and their advisors seemed so positive about what would spring from Colombia. The TEA legislation allows small or large companies to acquire areas held under licence by others provided they have a decent exploitation business plan and the existing holder does not come fwd. with a rival plan. Many of those licence areas have already been drilled but for various reasons have not been developed. In the case of say, Repsol, they have apparently declared that they are reducing their exposure to South America. They have existing licences there so maybe they have relinquished those.
WDBM were at that EGM and have since been loading up their high net worth clients with this stock - commercial suicide unless they see huge upside. I don't remember which person said it at the EGM, but the expectation was that any development finance would be placed at a premium to the sp

Stockdog, accroding to ADVFN, Danile Stewart are the nominated brokers. They're not doing the buying ? WDBM are simply MM's and are buying?

WDIK, PDYOR.

camlad

sharesure - I estimate you bought in nearer 5p - a much safer place to be. My remarks really refer to today's price of 8p. Interesting debate. We'll see who's right. I hope you are!

sd

Bugz, the comment was posted on ADVFN by VICTORFROMPORTUGAL. Post number 3673

sd, so do I !!!!!! I think your comments would apply to many situations where exploration stocks are concerned. However I do believe this has a different background which justifies my optimism.
As for price I was buying continuously up to 6.5p. I only stopped because I ran out of cash! If I can sell something else before the long awaited RNS I will buy more at the current price. I also accept that much more delay in getting any company news might put strain on the current price; that might cause me to justify finding further funds to invest because I do not think the risks would be unacceptable, given the upside. If I see WDBM selling then maybe I would have less faith in this stock. I doubt I shall see that happen this side of any announcement.

Although happy to read both bearish and bullish posts on any stock, 'victorfrom portugal' is an active basher on the ADVFN CHP thread. He may well of course be right, but as always in a debate the truth often lies somewhere in the middle. The trick is in knowing where the middles actually is!!

pth

if we knew where it was, we could play both ends against it!

victor.....the deramper

also a pain in the arse....if crude falls to $50 by Christmas then I'll kiss my

we've seen nothing yet....my guess will be touching $70+ again pretty soon.

M_P_H,
I do care about RNS, I am an investor. But what I DO object to is rompers like you. My point was that you dont need to state every day RNS will be out today or next day. Because when you keep on saying the same thing over and over again and it does not appear everything else you write on the thread will not be taken seriously. If you cant take constructive criticism may be it is you who need to toddle back to where ever you have crawl from.

Kaysmart, MPH is providing good info on this. The behaviour of WDBM is crucial to reading this stock. Their clients hold at least 26% at last Report time, possibly more now. Calling when a very complex Agreement will be in finished form is difficult. One or two of us are as close to this as it is possible to be without being insiders. If you don't appreciate any of what is written on this thread as a help to others to join in what should be a very good spec. go elsewhere.
Neither MPH or me or any of the others who are close to this are short termers on this one; but it is true that it poss. helps the outcome if the stock is at a good level to prevent any placing being at too different a price to the sp. Hopefully, the deal is so good it will go to a premium; we'll have to see on that one.
Meanwhile go to another thread, in the nicest possible way.

Sharesure, One or two of us are as close to this as it is possible to be. Are that close to this one?

Anyone who doubts that a share placing can be set/acheived above the current market price need only look at today's rns from Uranium(URA). Yesterday's closing price was 2.5p. Today they have placed 6,000,000 new shares at 5p.

Alfred

New site up as well (http://www.chacoplc.com), far more professional than their previous one!

Very interesting Alfred a 100% premium.

Thanks for that fnark, I guess most holders don't visit the site very often to notice a change, investment in the company website is surely a positive sign.

Hi everyone!! just joined. fnark; thanks for the news. I also think is a good sign.

Hey all, no probs, always good to share information! Price seems to be holding quite well on the lack of... well, everything!

Hint in their heading maybe???

"Oil and Natural Gas Exploration & Development in Paraguay & COLOMBIA"

syd443s, I thought the same