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.

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

Seems to be a lot of selling going on today and the mm`s are marking the price down at every opportunity,is this yet more tree shaking.I`me starting to panic a bit myself but not going to sell.

The news is still there to be released. The only unknown is when. It could be tomorrow, or it could be next week.

The MM's know some people are getting nervous at the delay and they are dropping the price to fuel that fear. WDBM is still hoovering up all the stock, there's no way he's getting mine, he knows far more than any of us about the imminet news and if he's constantly buying I'm definately not selling.

M_P_H,sorry to sound ignorant,but who is WDBM,
cheers.

Williams de Broe

MPH,

WDBM= Williams De Broe (The man to keep an eye on, he's in the know on CHP) , from an earlier post, read the previous posts and you will see what we mean, only need to go back a few days

Well, it looks like the web designers in trouble. He really shouldn't have given the game away re Colombia before an official RNS.

The website says: "Chaco Resources plc (formerly Gold Mines of Sardinia plc) is primarily involved in oil & natural gas exploration in Paraguay and Colombia."

Confirming the Colombian tenements are obtained. Someone's got ahead of themselves.

I expect they thought the RNS was already in the public domain.

Well done for spotting the site, it just goes to show you cant always rely on the RNS, someone might just slip up!

MPH - I thought the same this morning but have just checked chaco's accounts and it says the same on them, so I am not so sure now if there is any clue there.

MPH
I agree with you about Colombia -news due soon!

WDBM has dropped off the buying ........

WDBM, has a large number of clients with chaco and a large stake 26.5%, so we deduce that they have enough or is there another reason.

Bugz can you keep us advised, interested in other peoples views

Stew + Bugz,

WDBM were only 0.1 away, notice they didn't move away purposely they were hopped over. I don't see that as anything insignificant.

They were probably letting WINS balance of their books or grab some of the action before the next leg up after the shake out.

Volume was fairly low today so they didn't miss out on much stock!

Best have a look at ADV*N, looks like the deal could be in Putumayo.

Do a search with Google for chaco and this is what you get:

"well head in the Putumayo, Colombia, Chaco Resources plc. Chaco Resources plc
2005 Company Number 04030166 info@chacoplc.com +44 7949 209 301.
www.chacoplc.com/ - 8k - 17 Sep 2005 - Cached - Similar pages "