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.

Sharesure, best of luck

MPH are WDBM showing any signs of still soaking up stock? The opening price doesn't look right for a company about to announce good news in 3 hours time. My personal expectation is that the AGM should add at least 50% to the sp, possibly more. Obviously not a view shared by those dumping stock ahead of the meeting. Anyone any thoughts?
Thanks, Stewart.

Hi Sharesure, WDBM is indeed high on the bid. Anyone selling stock this morning is just giving it straight to the man in the know.

Thanks, MPH. All the trades so far seem to be small. Better for CHP to have a share register with fewer larger shareholders anyway!

sharesure,

Are you still as confident of the long term outcome as always. You seem to be a man 'in the know' more than most so your reasurance/doubts would be valuable.
Hopefully the AGM will assist you in this answer.
cc

CC,

He has probably set off by now, not sure if he has a lap top with him.

After all this time I cannot understand why anyone would sell 2 hours before the AGM, if there was bad news there would have been a flood of sells and I mean large sells, only about 500,000 in total and WDBM seem to be taking them all, some have sold @ 7.5p.

I am in @ under 6p average and am confident of a good outcome at the AGM, but you need to hold your nerve or let the MM's pick up your stock on the cheap.

Only other observation would be that prior to excellent news you usually get a number of buys and we have not seen that at the moment, perhaps anyone who wanted in was already in. IMHO

I agree stewart, why anyone is selling prior to seeing the full details I don't know!!

I'm looking forward to seeing the whole picture and indeed seeing sharesure's comments.

What time does the AGM start?

Alfred

Alfred,

11.00am

Stewart
When do you think we will hear news from Sharesure from the AGM?

He told me later today or Thursday, it will depend on what time he returns, quite a tense morning!!!

Its very quiet on here and on ADVFN, strange as it could be the most important day in the companies history.

Nice to see that 500,000 buy @ 8p, MM's picked em up @7.5 and sold @8p , 2500 profit for them in a flash

The lull before the storm

We could of course get an RNS at 11-ish publishing more details - which will be released simultaneously to the AGM

Bhunt, I believe that is what will happen. They should release details simultaneously to the market.

MPH
That would be great if it happens!

What if they don't have any price-sensitive news to give at the present time?

dibbles, have you any reason for that comment?

If there is none then I think we will see a fall however I think there will be news, my god the RNS the other day was of very little use in my opinion, no details in it whatsoever.

MPH, any change on trading, anyone heard anything yet

WDBM still high bid stewart. I've seen or heard nothing yet, maybe a midday statement if not then something tomorrow.

tick, tock - my how the time passes so slowly when u r waiting for news

1:2 @ 7.8: 7.95 and 50k:100k with WDBM still the only one on high bid

Baza