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, 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.

Just read through the powerpoint presentation. Superb. Very encouraging.

It is a waiting game. I, like others can see the full potential of this company. When one takes a step back from the intraday/week blips and swings in the s-price they really do and will drift into insignificance when we are talking the sort of oil volumes that Chaco may well get their hands on or indeed have already.

I certainly hope so having.f sold some seo a few weeks ago to buy CHP

Baza

Held up well considering the blood bath all around. Support from WDBM.

Am wanting to buy some more but waiting to see if, for a change, I can
buy near the bottom. It seems to have settled this morning and this is as low as it got before the last announcement. Surely it can't get much lower, can it?

cc

CC, No, very unlikely in my view. The next RNS is already overdue based on the AGM presentation. Don't think anything can be read into a delay on this because the outcome of the next two Colombian TEA applications and the third Paraguayan licence would be made known whether they are positive or negative. It could be that a delay might mean that the outcome is positive but that the licences are awarded with some strings attached, eg extra partners. If it was an outright refusal I reckon the outcome would already be known as there is a fixed timetable for implementing the new TEA legislation applications.

.

CC, I hadn't but I've not spoken to that broker contact for a couple of days. He has been convinced for some weeks that the sp will go to 12p once the placing is out of the way. Shares mag published a letter today giving a good rundown of the value of the Alea field; on that alone the sp has room to move up from its current level.

Same story today. WDBM high bid.

On the tax issue (and could well be out of date), I thought you had to hold AIM stocks for 2 full years at which time tax due at 10%. Will need to know soon!

Greyhound, the general rule is a CGT rate of 20% after one year and 10% after two years assuming a 40% taxpayer; but not all AIM stocks qualify. I have been unable to find out if CHP shares qualify.
Agree with you that this will be a very valuable concession in 12 months.

Sharesure - AIM stocks are treated as "business assets" and I think the stocks that DON'T qualify for relief are property, investment and finance companies. Don't quote me! So would be ok.

Sharesure / Greyhound

This not a bad link, I have done quite a bit of research into it and I think the best way is to ask Chaco if they are a qualifying company, I used the CGT calculator the other day and it did not seem correct but I may be wrong.

http://www.dyerpartnership.com/capgain.html

According to a poster on the other side, Chaco have raised 6m at 6p a share.
Don't know how reliable it is.

Dibbles,

The poster is normally reliable with info so we'll see.

cc

If the placing is confirmed at 6p is the SP likely to rise immediately?

If that is correct then we are likely to see an immediate spike in the price. If the instututions are paying 6p they will be expecting a hefty discount. You can be sure that 6p is NOT the correct value for chaco.

Resonable news soon chaps.

Tucked away at the bottom of an independant article

"Finally, Chacco Resources held steady at 6.2p despite some whispers that the oil explorer is looking to complete an equity fundraising at 6p."

LINK

Nothing like stoking the fire !