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.

looks like something's brewing? and it's not the tea!

What you mean wisemove? U on level 2? If so keep us updated, my trial ended yesterday and I'm lossed now!!

Bugz, L2 looking v good, I expect a tick up pre close

1:2 7.9 v 8.1 & 50k v 100k

bugz....sorry, don't have L2 at the mo either but with all those buys coming in, it just looked as if something was brewing....and the news is..........it's the tea? :-(

perhaps tomorrow morning. like the MM buy

lol!

Tea is always a good move. Actually, I think I'm partial to some now.....off the the kettle. :)

See you gents here tomorrow no doubt. I'm in need of this beer money to ripen soon....!

My tea is a bit greasey tonight, is it a sign?!!!!

Tomorrow will be very interesting ;)

I hope so dibbles........ Greasy tea.....? Sounds horrible but if it gets the sp moving upwards, I'll try anything!

MPH, I hope you know something I don't.... ;)

I knew it, it was so obvious..... the tea leaves WERE telling me something.....news on its way today?!!

Sale of 1 million shares late in the day

Swallowed up no problem.

Looking solid.

........and still we wait for news !!!

Baza???

Waiting patiently baza. No harm in it ticking up in the meantime though.

oooh - I hadn't spotted that last little tick up

Baza

jayestom

Are you keeping an eye on the annual stockchallenge?

I think it's between me and you.

Alfred

Just posted by Zeppo on ADVFN:

'The company is still working to finalise things.
They are aware of the frustrations of shareholders.
Some staff currently en-route to S.America.

My impression after a conversation with the company today, when there are obvious limitations on what can be said, is still one of optimism.

z'


stateside

Been away, hence no posting. While away I rec'd a message to say that the long awaited RNS was going to appear mid last week; yet another false dawn! But the lack of any precise date for this announcement has everything to do with the difficulties of putting together interlocking agreements between a handful of players and involves different companies/countries. Key to remaining certain this is going to turn out very well for shareholders, apart from what seems to have leaked re expected reserves, is also the lack of any company announcement to dampen optimism in the sp and the continued position of WDBM as large holders.
I hope we don't have to wait til the AGM on the 5/10 for this news, but if that is what it takes to get the deal then there is not much shareholders can do about it. Meanwhile I am not selling any shares in CHP.

Good to see you back Sharesure ,hope you had a good holiday.
I recently emailed the company asking about the recent speculation even though deep down i knew they couldn`t say much,but at least they replied.

Dear Mr N-----
Sorry it took so long to reply,but i have had e-mail problems (enough to make one lose the will to live!)

I am unfortunately unable to divulge price-sensitive information that is not available to the market as a whole,so i cannot really comment.

However,if we have something to announce,we will do so as soon as possible.

Thank you for your interest and support.
Kind regards
Martin Groak
Director
Chaco Resources PLC

I know its doesn`t tell us anything,but at least their PR is okay and Martin Groak has a sense of humour,i just hope he gets a deal sorted before he loses the will to live.
DB66