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.

Sharesure, you've been saying every week for 3 or 4 weeks that CHP's Colombian RNS announcement was imminent. why is this week highly likely?

camlad

camiladasi, you were previously posting on the other bb that we are all idiots over here lapping up everything Sharesure has to say.
Whats your view on the news item this w/end?

Hi Dibbles,

I don't believe people are idiots and have not called anyone that. Yes I do worry that some less experienced traders are believing what they read on a number of BBs. I offer an alternative view and I've consistently posted on various BBs my confidence in CHP but my concern that it is being hyped too much. (I've posted the same thing on this BB previously (see #99 and #101) and challenged posters to justify their estimates.)

Figures like 80p - 120p per share are being bandied around when the company currently has no production and no revenue; has a market cap of c30M ; and has assets of around 1.5M including cash of around 0.75M.

Let's be realistic. There seems to be no basis for such sky high SP figures - just vague rumours and innuendo from people who know people who heard something from ..............

Even today's Telegraph article says that CHP have "applied for some highly prospective territories [in Colombia]". This is in keeping with what CHP have achieved in Paraguay. The rights to e&p in promising geographic areas. (Not acquisition of existing 10,000 bopd production facilities.)

I am invested in CHP and expect to make good money on it over time - but I'm not risking any more than I can afford to lose. This is a highly speculative share at this time - as the Telegraph said "not for widows and orphans".

I will be very happy to be proved wrong and for this share to produce "instant riches". But right now IMHO yer pays yer money and yer takes yer chance.

WDIK, PDYOR.

camlad

I'm with you Camiladasi - a T&E licence is one thing, an Exploration licence is another and then you need to get a Production licence. There is no pot of gold waiting at the bottom of a well for CHP without a lot of hard work studying 2D and acquiring 3D seismic, then drilling test wells and doing core analysis all of which will create a big demand for fresh funding between now and then. If all that goes well, then another round of funding will be required to ramp up for production in about 2 year's time. Any one who already has reached the Exploration stage is not vulnerabkle to having their licence revoked by the authotities.

That said, there is so much hype in the air about this one, and RNS announcing a Columbian JV and/or poaching a T&E licence may well cause a substantial leap in price - maybe double of more quite quickly. Then I expect it to drift downwards, maybe back to square one. If you're a very nippy widow or orphan you can maybe make some money and good luck to you. But it is high risk to get this high reward.

Will be watching the screen tomorrow at 7am!

sd

Moving nicely this morning, topped up, so fingers crossed.

Still watching!

SD/Camil. You think it is hype? We'll see. There is a good reason why there has been no news yet. That will become apparent very shortly, then we'll be able to assess accurately what is true and what is hype. If you missed the boat/don't want to invest, that's fine by the rest of us on here; just don't try to talk down a stock which seems to have been cleverly managed by its board into a very advantageous position, unless of course you are sure that you know better.

sharesure, I notice you still haven't said why you think there will be a news release this week (as opposed to last week or the previous week as you predicted then)?

camlad

Sharesure
Not talking it down - just steadying the occasional slightly wild comments with, I thought, fair comment of my own about the facts of T&E, Exploration and Production Licences which seemed to be missing from many people's knowledge. Yes, I did miss the boat at 3.5p (and very well done and good luck to those that are in) being totally unaware of it until you drew attention to it on SEO thread (thank you for that).

My opinion that it's a little toppy to be getting in now is perfectly valid. Both on fundamentals (almost none and cashflow a couple of years away at least after much more fund-raising along the way) and TA - see my reference above to Bump and Run - it is highly speculative to the point of a pure punt or gamble which I generally try to avoid. I sit and wait for a signal that guides me whilst reading everything I can about this share (mercifully not that much of real import) - whether to be grateful I followed my decision, to regret it utterly or to be finally convinced it's time to buy, I have no idea, but I watch with genuine interest.

I am interested to join in the debate which is usually healthier when it has more than one side. I am not a de-ramper throwing unsubstantiated rubbish at this stock. I have been polite, informative, rational and good spirited in my posting. If you don't like debate don't reply to me.

Good luck

sd

Sd, fair enough; I know there are concerns that some 'pump and dump'. I don't. If I get a good idea I like to share it with others in the hope that they will do the same. I don't think this is over-inflated given its potential, but obviously it would help to have an RNS soon.
Camil. I am not free to say why there has been a delay. As it has been put to me, it is for good and beneficial reasons and I think that will be evident when AN RNS is released. For the moment let's just leave it there since this week should clear that up.

I looked at this co. after recommendation by Sharesure as I have always found him to be a reliable, sensible and intelligent poster with it seems many contacts.
I then took a small punt after deciding the risk/reward ratio was good.
I'm all for sensible intelligent debate from either side of the argument, what I object to is posters deciding what I do or don't believe on my behalf as camlad did previously on another bb a couple of weeks ago.

Having said all that camlad gave a sensible reasonable response yesterday so I'll leave it at that.

Sharesure is just the man you say he is IMHO, dibbles.

As someone has mentioned TA......

CHP's chart looks very bullish.

Initially we were alerted to a possible buying opportunity when 6p was tested several times.
This strength was then confirmed with a textbook breakout over the 6-6.25p level which was supported with high volume.
The pullback on Friday may well have shaken a few nervous investors out, however the bullish engulfing candle that's currenlty forming with todays price action confirms that the price looks to be heading upwards.



This chart combined with the very strong possibilty of a company changing RNS being released this week is IMO very bullish.
I can see why so many wise investors have been quietly adding CHP to their portfolio this morning.

youve got to remember looking @ the share price of other oil Co. today they are backwards due to the problems in the States this could possibley be why its not moving up & also the States are closed for labour day.

MHP, interesting chart. Think mid afternoon boredom has set in pending an RNS. When any Colombia information is made public and we know which of the current figures circulating can be fully relied on, I would be interested to compare your calculations with those I have had made since there are a number of assumptions like % recoverable oil, the allowance for any partner interests and carried interests, coupled with how much has to be given away to a development partner to do all the exploitation work. Off thread if you would prefer?

ss,

do you read the advfn bb? there is an email from martin groak that will be of interest,

cc

cc, I don't, but was told about it. I think it's a hoax posting. There was a similar 'Martin Groak email' posted a while back. I am still going by what I heard, ie that this week there should be an announcement. It is true that there are about 5 countries and 3 time zones involved, so the room for slippage is there, but I think that is why no announcement was made soon after I first posted on CHP.

sharesure

I believe the email to be valid.

ss,

As long as you've seen it. I'm of the opinion that we will get our RNS when Chaco are good and ready, and it will be worth the wait!!

cc

are either of you able to tell us what is in the 'email' ??