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.

Camlad, I don't know the answer to that. I suspect that the Colombian trio get 45% of whatever is due to CHP. After all it will be in the interests of both the trio and CHP to do whatever is necessary to move a deal from exploration to development. This info is likely to be published at some time soon when the news on further deals is announced. Whatever the outcome the impact on CHP's sp should be dramatic - although on current showing that may look a far fetched expectation.

the chart looks weak!!!

i reckon bad news or a dilution coming, just a guess on my part

aimtrader

Rather than just post one line of ill thought out useless information on the board why don't you do some research to support your statement. I am not even going to comment on your post because clearly you know nothing about Chaco.

I see you posted on 5 consecutive boards last night after 10.00pm did you get back from the pub early last night, no wonder you did because if your chat up lines were as interesting as your post you need not have gone out.

Aimtrader,

You worked out from the charts that there may be a dilution coming?

Brilliant piece of work!!

cc

Aimtrader, everyone knows CHP are going to have to issue more shares to get Alea going. The key question is at what level are those shares to be issued. There are one or two brokers who sufficiently rate what CHP has got itself into as grounds for the placing to be at a premium. In support of that, when I asked to be included in the placing for another chunk of stock it was suggested that I would be better off buying that line of stock in the market. We'll see.

ss/ MPH- as an interested observer, having been in and out of CHP since 2p, I am interested in your thoughts regarding CHP's rating compared to EEN and, moreso DNX, now in full production though no more rated than CHP re: Mkt cap/ bopd. ref post 625

ddoc2, You will have seen figures MPH and I have produced on CHP; as a benchmark I used GED as a compariso,(they have interests in Colombia) and scaled back to allow for CHP needing to build a reputation for delivering the goods. If the company stick to what they said at the AGM they should produce 3 more separate pieces of news over this week and next; two items relate to Colombia and one to Paraguay. Assuming that that news is positive whether that will mean that the sp starts immediately to take account of CHP's growing asset value (it hasn't yet even on the Alea deal in Colombia) remains a query; however in my view the mkt will catch up to what CHP has and can achieve at some stage.

WDBM still buying at high bid.

ss & mph - Thanks for the ongoing commentary. Very much appreciated.

Baza

Slipping down again without news!

just a tiny dip bodeng.

WDBM still high bid

For a company about to announce yet more good news on Colombia and some extra news not spoken about at the AGM, according to a poster on ADFVN, the sp dipping today seems totally unjustified.

Now dont start going soft on me SS !!

Baza

Oh my god don`t tell me the doughboy curse has struck again!
Everybody out,only joking!
db66

Baza, Who's going soft? I still rate this the most stunning opportunity I've come across for a long time. I would have bought more this morning but haven't any further cash left outside of ISAs. I did buy more SEO first this morning (one of your favourites?) and only bought them instead of CHP because it was for an ISA fund.

Has anyone managed to fathom the IR website to find out which companies on AIM are eligible for taper relief. My tax office referred me to www.hmrc.gov.uk but a search on there produced a bible of pages to go through; life is too short so has anyone already got a link that they can post here? (just getting ready for the inevitable CHP profits)

Try this
http://www.cgtcalculator.com/ I am told it is pretty good although I have not used it myself

Baza

Baza, Thanks.

Odd action first thing.

Just 2 MM trades totalling 75k so far.

WDBM still high bid

MPH, reckon the placing announcement is close so most sitting on the sidelines.

Baza, tried out your CGT calculator website. The calculator works fine but it didn't give me the answer I wanted! It seemed to suggest that the CGT taper relief over 1 and 2 years is not available for CHP. That could be very bad news next year if the shares perform in line with my expectations.

Sharesure / Baza

I tried out the above CGT calculation and if you change the dates to say a buy in 2003 and a sell this year it gives CHP Taper relief but @ 10%, that cannot be correct as it should be 50% reduction after 1 year and 75% after 2 years, perhaps someone else has a more sound understanding of the matter than I do.