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.

I found this yesterday:

Tim Treadgold: Briefcase - London listing lesson for St Barbara
WA Business News, Australia - 8 Nov 2005
... The winner was Chaco Resources, a business once known as Gold Mines of Sardinia (GMS) which, despite its previous name, was very much a Western Australian ...

LINK

However I cannot access the article as it is members only. Does anyone have any idea what this is regarding? Chaco have won something but what!

It also shows up on a Google news search:

Google news

Does the date of the article, 8 nov hold a clue ?

Master RSI, just one question - is that cup half full or half empty?

sd

The article below reads well for companies in the Oil and Gas sector, you can see why Chaco have moved into Colombia.

http://www.resourceinvestor.com/pebble.asp?relid=14489

WDBM soaking up those sells.

M P H

Well good to see them picking up the sells, there seemed to be about 1.2M go through after 12.00, not alot really and I guess the reason for the fall back to 7.55p. Funny how MM's never mark it up as quick as they mark it down.

I would have thought it was time Chaco started moving North not falling, lots of speculation amd ALEA is a proven asset, the price should be 12p + not languishing @ 7.55p.

My level 2 trial finished on A.D.V.F.N anyone seen any other free trials, may as well take advantage if i can.

Stewart I think it's boredom setting in, some investors have no patience. It seems if they are not making 10% in 10 days they bail.

Anyone who has done their homework should know the story is v good with chaco. Admitedly it's frustrating when we don't hear news. But the few snippets we get from various people with contacts should reassure us all that things are progressing at a very satisfactory rate. Not wanting to sound like a broken record it's just a matter of sitting tight, ignoring the short term blips and waiting for all Chaco's efforts to come to fruition.

Re: L2, try emailing moneyam and asking for a 2 week trial. Tell them you've tried AFN's and want to compare.

M P H

Managed to get another one with ADV, it was really simple just changed my username,

Regarding Chaco, yes you could be right boredom is a factor as is frustration, I can vouch for the latter but have no intention of selling, anyone who does has got it wrong buy DYOR.

Stewart / MPH In my opinion none of those sells represent serious money; I agree that to keep saying news is imminent sounds like a record on repeat, but in CHP's case it is true that there will be an announcement very soon because they have several potential deals some, or all of which, will be signed. CHP is gaining a reputation for ensuring that when it says something it is not only true but, if anything, errs on the side of caution. There are some close to the company who believe that the outturn for Alea 1 will be greater than 38.1m barrels for instance. The ther two Colombian deals being awarded to CHP just might make one of the majors decide that a purchase of CHP at this time would be a chance to get oil assets at a discount.

Someone seems to be dumping blocks of 100,000 this morning?
Profit taking from the placing or someone in the know about proposed deals?
I`m staying put ,as i`m sure it will be their loss.
DB66

But still only 30k worth of shares in total dumped - a miniscule amount in the whole world of things

Patience required me thinks

It could be the fag-end of the 2m shares Evolution are reckoned to have picked up last week for 7.2p. They will have had the opportunity to turn the majority at a reasonable profit.
I would be surprised if the news about the 2nd Colombian deal isn't out this week as I was led to believe that it had already been granted.

Sharesure, entirely agree with your comments, I picked some share up cheaply last week from Evolution.

Its a little depressing seeing the share price drift downwards however over the last two days it has fell on hardly any volume so no real concern, I feel it will seem like a minor blimp in a few weeks time when we are in double figures. Once an RNS is issued then the price will proceed North very quickly, don't forget all the hard work done to get the company this far, Martin Groak is a very shrewd individual.

Incidentally that trade this morning for 100000 @ 7.42p was mine and it was a buy.

just tried to buy another 350000 shares at 7.35p but wouldn`t let me have them at that price, this online buying isn`t as easy as brokers make out.Hope thats a good sign for tomorrow.Do most of you buy at market price or use fill or kill like i tend to do.Doesn`t always work but a fraction of a pence can mean hundreds of pounds in a fast moving share like this.

The NMS is 25,000 - which might count against you -unless you left a limit order.

I tend to use L2 to find out what size I can trade at - then do multiple deals until I satisfy my requirement. Using a LO usually means you end up paying market price.

Not such a liquid stock this one.

Baza

Baza

Personally I prefer the old fashioned speaking to a broker. Costs me more but in times of wanting to buy or more so selling in volatile markets I find it's possible to get trades done quickly outside normal market size. Just preference at the end of the day. This alone has saved me quite a bit in the long run.

338261 is a buy but showing as a sell i should know i bought them ,why is it up as a sell,are they allowed to do this, doesn`t seem fair to me as surely it must put off potential buyers.

It is simply the software used by MAM.

It can't actually tell whether your trade is a buy or a sell - it simply deduces it by seeing what price you paid for the share and checking to see whether it is closer to the current bis or offer price and records it against whichever it is closest to.

That is why these things are really only indicative

Baza