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.

Classic tricks here gents, MM's trying to attract some sellers at the all time high to ease the load on their books.

There is more action here than VOD level 2 at the moment!!

EVO bidding at 8.7, WINS offering at 8.75

Two bidders at 8.5, EVO trying to shake at 8.6

MM's shake out encouraging some sellers.

EVO, WDBM and WINS high bid at 8.4

Well that looks like the end of a hectic day!

I bailed out my student loan of 13203 shares at 8.76.

Good bit to hit the pub with ;-) Cheers !

Think we might level off a bit with all the recent movements-whats other peoples views in the short term?

Possibly, but with more and more eyes watching, may not fall far. And then of course there could be some news too.

The pullback from the highs was to be expected. Shame we couldn't stamp 9p on the chart though!
2 days of good movement the MM's knew sellers were lurking and played there part well.

Being at such a good level bodes well for popping through the 9/10p level when the news is released.
Greyhound I think your point regarding more eyes watching is key. With institutions on board they will be far more people watching this, and whoever has been buying this up from 6.5p with heavy volume knows more than us.

News this week would be great, however if not then a mention in the Sunday papers will help no end.

News as rumoured in the Express would really get the SP moving!

did anyone read the full article? I didn't get chance to purchase a copy and I don't get the express delivered!

mph
It didn't say much more-a rumour of more deals in Colombia coming through!

MM's holding it at 8p

Thats ok - good opportunity for those who missed the ride to get in on what could be a good opportunity over the next few months.

I have bought a few more this morning at 8.05

A lot of buys coming through at this price!

There's a shortage of shares out there, just had to pay 8.2p for 250k.
Don't think it'll stay at this level for long.

cc.

CC - is this a daft question - would it have been cheaper to pay the commission on 3 lots of purchases at 8.1 - rather tha the extra 250 on buying at 8.2? Have I done my maths right ?

Bazau

Baz,

Probably, but in a couple of weeks, after some good news the 0.1p will
be all but irrelevant.

cc.

Sorry CC - just me being picky - but I really do hope you are right as I sold Vane this morning - minutes before their announcement, to top up in Chaco.

I think we just need a bit of patience - and some good news.

SS should get a pleasant surprise on his return from hols - although I suspect he might have found the odd internet cafe along the way

Baza

tick up - slowly but surely
Now 4:1 @ 8: 8.2 and 200k v 50k with WDBM on high bid

looking better now. Nice support at 8 pence