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.

Its seems very quiet, almost like people are not sure about the 6p placing, personally I am glad it is now done. If its done @ 6p then I would have expected a rise to 7.5p or even 8p as it would have discounted, the investors would have had alot more information than we have.

It would have been better if they could have announced more on their applications at the same time, mabye more later today, both are now due, the first is overdue, thats good news I would say

.

Stewart, I agree the placing was well known and probably priced in. There is no reason now why this shouldn't drift upwards from here. 6p is now a nice springboard to jump from.

Put yourself in the shoes of the Institutions. You would not invest hard cash in anything other than a golden egg.
Your bonus for investing the cash with chaco? Shares at a hefty discount to the true value.

Well lets just hope so MPH-I must say I too am quite pleased with a 6p placing-means most of here are feeling safe with a good investment, knowing the placing is at a discounted price.

I do agree that it should drift towards to 8p mark-well hoping at any rate......!

The 6p placing should put a floor on the sp at least and its not often you get a chance to buy on the open market at similar.
I think future newsflow from Alea & Paraguay should ensure we have a sound steadily growing investment with potential bluesky opportunities that could be announced anytime.

Well lets hope so - I am just a tad cynical at the moment

Nice round up Dibbles! :-)

just bought 10000 more now have 180000. very happy.

why do all my dealings come up as a ?

Price steady and a v. tight spread, seems to say the risk is much reduced on this one with prosects of positive news from Colombia nd Paraguay - agree price should rise from here. So I've put a toe in the water mid-morning after all early day volatility has had its chance and stayed inn bed.

The dog reverses his stance - largely due to preceived reduction in risk post fund-raising.

Good luck to us all!

sd

BTW - my purchase at 6.65p is among the green ?'s today - so I assume all otehrs are buys too. The sells are all at 6.60p. The 500k T sell looks like it could be one of the placees passing on stock to the retail market. Price holding, so looks good on average, I'd say.

Why so quiet all of you today?

sd

Just wondering what a placing actually means.Is it purely aimed at institutions because of the volumes involved and why at a premium to the current shareprice, isn`t that unfair on all smaller holders. I currently own 500000 of these but i didn`t get them at 6p. Any comments welcome.

pisces, companies need cash, institutions have loads.
To part them from it you have to give them a good story and a good price.
After all they are taking a risk and losing interest on their capital, bless em.

p.s- a placing is the issue of new shares to raise cash for the company roughly.

Dibbles, thanks for info, but how do we know the placing was fully taken and if so why no increase in the price, surely a full placing would have a knock on effect.

allthose unnone purchases are buys.some are mine.

pisces, don't know if it was fully taken up or not but it raised what they need to move forward with Alea project, without it we'd be back to 4p.
I think as it sinks in and investors realise the value of Alea + Paraguay potential + any new projects, the sp and the tipsters will catch up imo.

90k top-up at 6.65p is my work done for the day.

Any chance of an increase in the SP tomorrow?

sorry, bodeng, last orders are at 4.30pm - try again tomorrow for Monday!

sd

I thought these were going to go up to 12p after the placement at 6p.