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.

3.7m x trade * 2 - what does that mean - a simple trannnsfer of stock between 2 parties ??

'X' Cross at the Same Price
A transaction was effected as an agency cross or a riskless principal transaction at the same price and on the same terms (this requires one trade report).

sharesure hi, yiu said in a previous post you thought the second colombia deal had been granted,can you give any more info on the deal.
cheers.

Pisces, heard a range of figures for the various deals in Colombia; the smallest could be worth up to 10p/share (oil in the ground price), but there are other far larger deals that CHP is trying for. All these were reported at the last AGM as being possibilities. Once an RNS is released I would hope that an immediate asset value and projected asset value (ie oil at the well-head sp) will be possible. At the present time I don't think that CHP is getting full recognition for the Alea deal oil in the ground price let alone any advance on what it will be worth in 4-5months when the oil is at the well-head.

Sharesure
The pipeline looks good-nice to see some news this week!

Bodeng, Er.. what pipeline was that?

wdbm joined wins on the bid.

L2 2 v 1

Sharesure
I meant there was a lot of news coming in the future!

That was very misleading, LOL.

It would be great if Chaco could move upward like VOG!

haha bodeng, wouldn't it just!

Not a single buy today so far - very frustrating - no news.

I guess no news is good news in some respects

Looking as though it's about to head higher

Reply from Martin Groak to email asking if any progress on Colombia-
Hi Geoff,

Can't really say anything right now, except that we're working on it

Regards

Martin

In the past this type of vague reply has resulted in news shortly afterwards!

The mere fact that they are working on it must be seen as positive news.

baza

Some chunky X and T trades gone through late in the day a close to the sell price. Can anyone make an educated guess as to what is happening here.

Does this look like good news or bad news ??

Baza

The good news is that if they were sells the shareprice wasn`t affected.

That X for 5.3m shares is neutral since it involves a transfer from a willing seller to a willing buyer. As for Martin Groak's comments I think all should draw comfort from the fact that if CHP hadn't got the other Colombian deals then an announcement to that effect would have been issued. The fact that it wasn't, and we are way past the legislative timescales, in my view means that CHP has been awarded the extra deals but needs to be sure that any partnering arrangements, which it would find essential for the bigger of the two deals (400m+ barrels?) to be brought into production, need to be put in place before any announcement is made.
As for Paraguay and the award of the third licence area abutting a large existing oilfield I suspect that is being progressed although on a slower timescale.

Sharesure
Thanks for your informative comments-news next week would be nice!

I like your analysis SS - and it seems logical and to make sense. My worry is that if you can draw that conclusion - why has no one else - and why therefore have we not seen a steady rise in anticipation !

Not doubting your conclusion - but just playing devols advocate

Baza