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.

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.

I am afraid I have not tried it so cannot offer any advice

Baza

3 M trades this morning, anyone know what is happening. Thinking of buying back in at these prices.

Don't want to be accused of ramping but for what it may be worth one broker friend reckoned that the placing must be very close to being announced after which by his calculation the sp should then move smartly up to 12p.Hope he is right (he has been on some other aspects of CHP so far) but also we must be due the outcome of the other TEA negotiations. I'm staying in on this one as I do think it will perform well over the next 6 months even if there are blips in that sp progress.

syd443s - forgive my question - but what are the differences between the trade types - I've seen several - and being new to shares - just 'dipping my toe in' on this one - just wondered what they all mean,

Thanks
caz

'M' trade is a Market Maker to Market Maker trade as far as I understand it but not sure quite what that means to the sp, 'O' trade is just an ordinary trade.

syd

thanks for that - is an A and automatic one?

caz

Yeah I beleave it is.

Cazash,

Go to the header(top right) and go to help, then to trades. It gives you a full
list of the different trade types.

cc.

CC

thank you

Caz

The AGM presentation is now available on the Chaco website and looks very impressive.

cc
http://www.chacoplc.com/

I agree the presentation does look good!

Would be quite useful to put a link to the web site in the lead post above ?

Repsol, Statoil win exploratory oil blocks at Brazil auction
AFX


SAO PAULO (AFX) - Repsol YPF SA yesterday won three oil exploratory blocks auctioned off by Brazil's oil agency, ANP, local media reported.

The 7th round auction started yesterday and will continue today.

Some 140 exploratory blocks were auctioned yesterday, with Petroleo Brasileiro SA winning most of them -- 31 permits -- followed by Argentina's Oil M&S -- 22 blocks.

Repsol YFP won a deep-water exploratory block in the Espirito Santo basin with a bid of 51.9 mln reals, beating a consortium formed by Royal Dutch Shell and Petrobras.

Repsol, in partnership with Amerada Hess, beat the same consortium for another block in the Espirito Santo basin with bid of 23.07 mln.

Repsol YPFP won a third block, in the Campos Basin, teaming up this time with Statoil ASA, with a bid of 30.7 mln reals. Each company has a 50 pct share, with Repsol the operator.

In another block, ES-M-594 in the Espirito Santo Basin, Statoil was awarded a 40 pct share. Brazil's Petroleo Brasileiro SA (Petrobras) is operator with 60 pct.

To award the blocks, ANP takes into account criteria such as the percentage of Brazilian equipment to be used, besides the size of the bid.

Aldwickk - not being an oil or a chaco expert - is any of this good news for chaco ?

Thanks Baza

Sharesure, you seem very confident on this one, but what if they don't get the other two TEA's?

Dibbles, I accept that the performance of the sp looks weak at the moment. My broker source is confident that the placing will be completed imminently which will then clear the way for a proper evaluation of what the Alea deal alone means to CHP - an eventual (?6mths) sp of 30p. As for the other Colombian prospects if they win those then that will add alot not just to CHP's asset base but, nearly as importantly, their credibility as an oil company in the region which should bring them other opportunities.
I don't think that the AGM presentation would have been quite so detailed or bullish if CHP were not reasonably certain that some or all of the Colombian deals they mentioned were going to come their way.
Apart from those prospects don't forget that the existing Paraguayan licence areas offer huge potential and there should be news of the third area bordering Brazil in the very near future.
That is why I am very confident that when we look back on this time a couple of months from now the sp will be a lot higher. Meantime it is worth downloading the AGM presentation to review what they are working on.
That is my view; always interested to hear others' opinions on whether they share those views.

Sharesure, thanks.
I'm confident long term due to Alea but just wonder if they don't get the others,that the sp might be depressed for a while as the market hasn't woken up to the value of Alea up to now.
Happy to hold long-term though personally.