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.

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

I hope all will be revealed on Monday!

Told ya, told ya.

May be back one day with more news if you are nice.

Lukoil interested in projects outside Russia
AFX


ASTANA (AFX) - Lukoil is out to enforce its international presence and draw profit from geopolitical developments favourable to Russia, particularly in the Caspian and Latin America, said Andrei Kuzyaiev, president of Lukoil Overseas, the oil giant's international subsidiary, in the Kazakh capital Astana.

'The profitability of foreign projects can be three times higher than in Russia,' where much disappeared due to taxes, said Kuzyaiev.

The group, which set up Lukoil Overseas five years ago amid rapid expansion, today extracts 5 pct of its oil and 15 pct of its gas outside of Russia -- in Kazakhstan and Egypt. It also participates in exploration projects in Azerbaijan, Columbia, Iran and Venezuela.

Kuzyaiev stressed that Lukoil is fast becoming one of the world's leading producers thanks to its formidable reserves, second only to those of ExxonMobil.

However, a Lukoil source also indicated that Lukoil's expansion perspectives in Russia were de facto limited due to strong ambitions of gas giant Gazprom and another oil producer, Rosneft, who had jumped into the fray for the country's best oil assets.

Lukoil recently paid 2 bln dollars to acquire Nelson Resources, a holding company that controls 1 pct of Kazakhstan's oil reserves, one of the key potential new sources on the world oil market.

The Russian company, which already extracts oil from two Kazakh fields, Karachaganak and Kumkol, in October sealed the deal for 66.5 pct of Nelson Resources and is waiting for approval from minority shareholders to buy the rest.

'We have an advantage in the Caspian: We are close to Kazakhstan, Azerbaijan and Turkmenistan in our mentality, history and language,' Kuzyaiev said.

Russian energy companies have also been benefiting from a recent warming of political ties between Moscow and Central Asian governments, resulting in oil and gas accords between local national companies and Russia's own Gazprom, Rosneft and Lukoil.

In June, Lukoil signed an important contract with Uzbekistan, where it is due to start extracting gas in 2007. However, 'when compared with CNPC which disposes of China's state budget, Lukoil, as a private company, is not very much of a rival,' the official admitted.

Lukoil also hopes to extend its activities in Venezuela, taking advantage of problematic relations between Western companies and Venezuela's populist President Hugo Chavez.

One particularly promising project is the Orinoco field where Lukoil hopes to exploit one sector. The Russian group is also exploring in Columbia and eyeing several acquisitions in Colombia, Equador and Venezuela.

On the downside, the group has yet to make any progress in Iraq, where it hopes to recover its exploitation rights over the vast oil West-Qurna 2 field.

Lukoil gained those rights in 1997, but the contract had since then been annulled by Saddam Hussein's regime.

The Russian producer has sought ties with the new Iraqi authorities by bringing Iraqi engineers to its training centres. It is also hoping for a helping hand from the US company ConocoPhillips, a strategic investor in Lukoil, to regain its foothold in the country.

lgo/cal/sms/jmy

Doesn't news of placing have to come through today?

well when i we going to here something . i have not done much research on this stock i trusted . blunt

From what I am picking up there is a lot of CHP activity the first half of this week. I suspect that CHP are not able to force the pace of official releases of licences from the Colombian authorities even if deadlines for counter bids have expired. When we were waiting for the Alea deal news it took alot longer but it was very good when it came through. I am not concerned about the timing other than it is always a pity to see an sp drift downwards from boredom. I remain convinced about the quality of this stock's potential to be brilliant over a six month period. CHP has so many different opportunities in addition to the substantial value of the Alea deal.

According to a post from Amelanchier on advfn, Evil Kneivel has bought 2 million shares at 6p in the placing.

This is confirmed by kjkelly.

'Amelanchier, your news is verified by the man himself in his diaries on Tom Winnifrith's site. Re Chaco Evil Knievel says.... My man who knows reckons that 10p is the first stop and if it signs off on a deal it is working on then this will be a multi bagger.'

mabel