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.

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 !

/

They must have been reading this thread

If there are rumours - then no smoke without fire. Possibility of RNS on Monday to give them time to agree wording and get it all signed off ? - or will they wait until all the news is out re other fields and issue one?

All questions I am afraid .

Baza

Asked Martin Groak by email the dates when news on the Placing and other deals will be available; he replied to say he'd just returned from a trip and would answer my questions more fully as soon as he can which suggests to me that they have not finalised everything as yet. I would have thought a combined Placing and extra licence RNS is likely.

Very good newsSharesure

Thanks SS - time to top up then ?

Baza

I'm in for another 300k.

cc

Thats more like it - in profit already on todays buys - but would like some more please

Baza

Nice and steady. WDBM driving us forward.

Well done to all those who added this morning.

Notice how on a relatively few buys we lift a good 0.3-0.5pence. However it takes a lot more selling to drive the price down by the same amount.

I expect this to fly if we get a placing/licence RNS.

Well I am with you on that MPH