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.

SHARESHURE,back from a weeks hols and happy to see this steady,glad i was not around at brief fall to 15 +,holding thumbs for next week,enjoy weekend

Taken from the wall street reporter interview transcript.

Wall Street Reporter: In closing, could you summarize why investors should perhaps consider Chaco Resources as a long-term investment opportunity?

STEPHENS: I would say because of our focus; were not simply just another junior that is looking for prospects around the world that others have picked over. The company was founded on the basis that it wanted to be focused in South America where new opportunities were coming up. Through old associations, I was able to join the board and get the company involved in areas that are simply not available to outside companies. The network that weve developed here is based on 20 or 30 years of experience. So, we think we can offer a unique opportunity and a unique knowledge of both Colombia and Paraguay. Colombia in particular is a wonderful place to look for oil. It is a very oily country that changed the conditions and rules recently in order to be much more favorable to oil companies. They have brought down the tax rate and the royalty rates, and of course, geologically, it is the second biggest oil producer in South America. It is simply a wonderful place to look for oil. We have an excellent position on the ground and with our contacts in Colombia we can continue to expand there. We are in a similar situation in Paraguay except that of course, were at a much earlier stage there. Thats what we can offer investors.

MPH
Thanks for the reminder-I'm looking forward to next week!

Mention in Money Week p11 under "If you'd invested in . . oil minnows"

Summarises the situation and historical gains from 4p to 16p and ends with "The company now has new financing in place and could still be a big winner in the sector."

Nice upbeat little article.

sd

any rumours out there?? moving up

something happening!

hope this isn't going to reverse! large movement, no news could be sucking people in?

Buyers paying a premium for size. 300k@17.75

ellio, relax, this is not a chimera. The Primavera licence will come through and then many more will come to realise the full significance of what that means to CHP. The Primavera is part of a much larger area of oil bearing substrate where there have already been significant finds. The largest so far has been 1.8 billion barrels, so you can see that it is a potentially very oily area. CHP are fortunate in having some of the best local knowledge on seismic, so you can expect that the area they have gone for will be very good.

Sharesure are you adding add these levels then? or fully invested?

Sharesure/MPH
What do you believe is driving the share price increase today?
Is it just the large no. of buys or are the MM's playing some sort of games?
LL

ellio, I never disclose the amounts of stock I hold in particular stocks. However this is one of my most significant in terms of both value and, in my view, potential. I did buy my final tranche this morning as I do not believe that the confirmation of Primavera award to CHP will be long in coming.

thanks sharesure, not interested in amount of your holding(although I'd love to know lol) just if we can expect good upside from here or if we are being sucked in.

great feedback as always and am trusting your judgement!

Ellio... this one will keep moving up & down between the 15p - 18.50p range until some news comes out... be it this week or in 3 weeks time!
The price moves up & down due to day trading and as this one is in the limelight at the moment, plenty people will "ride the waves"
So even if this falls back 15%, means nothing althou would get worried if it fell below 11p

There is strong rumours of positive news this week

Positive news on its way ?

Charting: shares bouncing from a pennant (flag) lately

Emanating from where?

Bought more first thing today as I think news is this week.

blackdown

From where are rumours comming from ?

From free internet boards mainly but also private so "two different sources" in my case

Here is a coment on my thread from someone "expect RNS for primavera this week"

Reckon MM's will try to shake this soon to get some stock. Especially important not to fall for that at this time.

I agree Sharesure, they have no choice but to try a shake if they want to balance out their books. 18p is the obvious level to try and catch a few.

I would be very nervous if I was making a market in Chaco today/tomorrow. The chances of an MM being caught short of stock when an RNS pops out is getting greater as each hour passes.