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.

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

Update on earlier post. The best part is yet to come on this one. The two exploration deals are just that, speculative but may prove to be worthwhile. The better part should be announced within two weeks and involves a development deal.

Good news this morning but better news to come soon. ppl selling on the fact issue
hoping to get back in a bit lower down b4 main news.

Taken from advfn
suesean1 - 9 Aug'05 - 09:52 - 2309 of 2319 edit

better to come.

Question; where would you find the largest gas reserve in the world?









Answer
The mouth of the Bolivian well at Tarija (the largest gas reserve in the world) is connected to the Independencia 1 well 100 kilometers distant in the Gabino Mendoza area in Paraguayan territory.

I have been told that the 'better to come' is an imminent oil producing deal; the other announcements today were to do with exploration, except the tail end piece about Colombia. In my view that is the one to watch out for an announcement on, and possibly as soon as later this month. If the exploration deals work out that is just 'extras'

Maybe a long wait now, as always in this game.

forest, I heard that a decision on the main deal is due on the 19 August. ie next Friday. If it goes CHP's way they will be really well set up in oil production, much more predictable than the exploration deals announced yesterday. The mgt. team here are considered top class by my mining contacts so expect them to win.

Well just decided to join you guys on a speculative punt with 25000 (shares that is - not 's)

Baza

Welcome aboard! This promises to be a good punt and without needing to wait too long.

Sharesure hi,
I notice on other bb's they are not so sure the next news will be an actual production deal.
You seem fairly sure it will be, do you have specific reasons for this view?

dibbles, yes, I do. I rate this being a reality by next weekend or very soon after that.

I reckon the sells v buys pattern showing today should revert to buys oustripping sales fairly rapidly as next Friday's deadline approaches and others realise they have sold on the wrong news.