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.

I have just spoken to my contact on this one (mentioned in my post of 11/6/05). He is confident that the EGM proposals, if passed, will give the Board the flexibility to really take CHP foward. He knows those involved and reckons them to be capable of spending any cash raised wisely.He did say that he thought it would require patience but that the y/e sp would be significantly better than today's 4.3p.

britishbulls.com have changed there stance on this from a sell to a buy.
Mabel do you hold these?

forest.

Yes I do. I have held since Aug 04 and I will be holding until at least Aug 06.

mabel

A very good last couple of weeks, i thought we would have had a small retrace this week. 17 more days to the egm, God knows where this will be by then.

mabel
well done

I got in a few weeks after, day before the suspension

I recommended them to a friend and he got in the day before susp also. He paid less than me. Something like 1.83p

I paid 2.2p, thought we might see some newspaper reports this weekend nothing so far. Moneyam bb layout changed, looks better!

test

Mabel

Are you still in these? chp looking better & better all the time, new eod high if we can hold onto today's gain.

Comment at the EGM was that a deal would be finalised around 29/7/05. Looks like it's close to being a reality based on the sp movement.

Some big buy's gone through lately, could be ppl in the know or buying on spec whichever, finished the day on a new high. News soon?.

CHP was due to report a significant deal in the last week of July according to comeents circulating at the EGM. The strengthening sp suggests that this may have been delayed but is very close to happening. The Board reckoned that if a placing was needed to make that deal possible the shares would be placed at a premium because the deal would be so well geared in CHP's favour. Might be worth a punt this week?

Up we go again.

When CHP announce their deal, keep an eye open for the assumed future price of oil factored into the deal. I suspect it may be around the $45/barrel mark. My intuition is that that might be the low price point for oil, not its future average price. Doubt there is much longer to wait on this one, with another tick up this morning. Looks very pregnant!

CHP can take as long as they wants to make an an announcement, as long as the sp keeps rising. All buy's so far today.

The trades for today are still all Buys. The news has to be close to an announcement.

Does anyone have a price target for this??

Nope, waiting for news any day now.

Thread for the more intelligent.

https://www.moneyam.com/InvestorsRoom/posts.php?tid=8461#lastread

Philip3, No particular target in mind, but with a mkt. cap. of 22m, and an oil price at $60/barrel it wouldn't take a very large deal to at least double the sp. Probably best not to form a view until they say what the deal amounts to in terms of barrels/day etc. The mgt. team are well respected in their field so what they eventually say should be backed by experience and have credibility.

CHP was very pregnant! It just gave birth. RNS has confirmed what they are doing and it looks like this co. will have another good day