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

When not sure on something, it cannot be a bad decision to take a waiting position.

pth

with regards to the funding, my info on this is that the institutions will have been given the full details of the deal. If the deal is what I and many others believe then I would buy at 10p or what ever the premium is set at. Once the institutions have been given this info they are classed as insiders and can not buy at the normal rates.
i appreciate it is difficult to believe anything on bb's as most people have an agenda but I bought in a few months ago at 3p so sharedog the sp has risen by some margin on the back of rumour mill. I am not here to convince people to buy sell or hold. I am a long term holder and happy to be.

Chaco mentioned in the Times "Rumour of the day" column. That should get things moving!!

Baza

September 27, 2005

The Times

Chaco Resources, the Latin American oil and gas explorer that emerged from Gold Mines of Sardinia, eased 0.1p to 8.30p on AIM despite word that it is close to taking on a clutch of concessions in Colombia held by Spains Repsol. Chaco is due to hold its annual meeting next week.

Times article

MPH, the reference to reference to Repsol ties in with what I heard some while back; they had declared that they were scaling down their Sth. American operations so were probably an easy target. (For me this is reminiscent of Cairn and Shell in the Far East).
The location of where all the parties to this deal have congregated seems to be a close secret - to hide the identity of the development partner until they are ready to announce?

I have just read The Times article and it comes across very well, looks very good I would say. I am surprised that we have not had a SP increase or more buys this morning on the back of that article.

Stewart, the buys are just starting to tick through now. WINS can't have much more stock to sell @ 8.5 and when he's gone JEFF will follow as I've not seen him deal hardly anything in Chaco.
That will give us 8.2-8.7.
WDBM might then tick up a touch to capture any sellers.

That's my script anyhow, lets see!!!

MPH
Thanks for posting the Times article.

Perhaps the rumours are already priced in ??

I would have expected more volume and more impact on the sp if the rumours were credible - dont you think?
Baza

baza....a rumour is just that....a rumour......its credibility can only be proven when the real facts are known.....for now, take your pick!

Baza, the information I had which led to my much earlier post some weeks ago about this going to 25p-30p/share on the announcement and then on towards 90p-100p/share as production becomes a reality in say 6-8months has remained unchanged. That was based on Colombia only. Paraguay, and any oil finds there, are not factored in to that sp estimate.
The only part of the information which has changed has been the timescale to put the deals in place. I think the problem has been one of logistics only and it will be overcome by the current meeting taking place in SA. All opinion of course and interested if anyone else is getting a different message.

WINS shifted from a seller to a buyer.
He's joined WDBM and SCAP at high bid.

Closing multi-party, multi-national deals is not easy, but much of it is done by email these days. Perversely, this lengthens the process. In the old days, a draft agreement was produced, after agreement at a meeting had been reached, attempting to reflect that agreement as accurately as possible. After a couple of rounds being circulated for comment and re-draft, it was usually pretty much there. These days a draft is issued by the controlling party of the document as a first round challenge of their negotiating position to all other parties. The permutations for comments on the draft, followed by comments on the comments on the comments - even on issues which are not strictly relevant to the interests of the commentator - can lead to many weeks of finaigling and finessing. This process is often brought to a head by a conference call. However, a physical meeting of all parties round a table can make real progress on an otherwise intransigent position.

I wouldn't be surprised if it has just taken this long to agree on documentation for signature - not so much a function of physical distances between the parties, more of commercial and legal differences, especially if any banks and/or security documents are involved across national boundaries and legal jurisdictions.

I guess the AGM puts a cap on it though - unless they miss that too.

sd

From ADVFN

valentine - 27 Sep'05 - 11:23 - 4015
Interesting item, depending on moral point of view.. Mention of Repsol and Putumayo region. US Govt introduce 18,000 peacekeepers plus baggage to placate local 'terrorists' in region in effort to safely extract known oil resource.
Seem to be succeeding?

http://tania.blythe-systems.com/pipermail/nytr/Week-of-Mon-20041018/007950.html


stateside

400k T Trade @ 8.35

MPH, one for 400,000 and another for 250,000 , yep it has been deleted

Stewart the 250k was deleted on my feed?

A geniune miskey or a sly signal if you've got your cynics hat on!

AGM is getting nearer-so is news!

Sharesure, Are you about? I assume matters are the same, nothing new, price still holding up well.

Stewart, Position is still the same; guess we all just have to let them tie up these deals as soon as they can. I am sure they have every incentive to want to get them finished.