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.

Over 8m traded today including a 1m buy at the end.
Not bad for a tiddler.

Anyone heard from Sharesure?
He's missing his moment of glory!!!

.

Lifted from ADVFN board:

Express
CHACO RESOURCES (may be close to announcing details of potentially lucrative
concessions in Colombia)

Well that wont do the share price any harm at all. I wonder if there will be any slight drop at all today with the share dilution - could be an interesting morning - especvially as thos that bought at 6p could now take an instant 30% profit

Baza

Plenty of eager buyers first thing.

fnark do you have a link to the express article handy?

M_P_H, not yet! I've not picked up a paper today. Found the above posted on ADVFN!

CHP article on oilbarrel.com this morning

just hang on in there

just hang on in there

People are just beginning to realise the full potential here. If Chaco get the other deals anyone who bought in under 10pence is going to be very happy.

Thats almost a ramp MPH

BTW - I see U R in the top 20 of the competition - I dont suppose you are heavily invested in CHP by any chance !!!

Baza

Baza, quite right that does sound a bit "rampy"! Not intentional I assure you.

When you do the sums on the other deals 10p does start looking very cheap. Of course we are still waiting to see if the deals are secure.

re the competition.......... of course!

Thanks sharesure for bringing this to my attention,also M-P-H for keeping us updated on the trades.
I`m going to sit back and hopefully enjoy the ride.
Good luck to all holders!!
db66

First time I've seen this in CHP. Every MM quoting a different price on the offer in 0.05p increments.

EVO & WINS high bid @ 8.75 pressing. A few more buys could see us at 9/9.1 offer

And that'll be the year high gone!

MPH,

Could u keep postin the L2 movements.

Cheers

WINS and WDBM now sellers at 8.85. Playing to the last high to shake a few out I expect.