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.

Does it mean that news is close!

8.6 paid for 50k just gone through when offer was 8.5..........mm's struggling to supply the demand

MPH This is looking good. Have not heard any more whispers re news - everyone is keeping tight-lipped; a good sign in my view as it will be better to have an un-rushed release with some reliable figures attached.

Patience was always the key with this one.The rise in SP must be due in part to recent rises in world oil prices?

Thanks for keeping us informed sharesure.
SCAP last man standing at 8.5 offer.

EDIT: SCAP Moved immediately, WDBM driving the bid up.

LEVEL 2:

WDBM @ 8.25 v KBC, WINS @ 8.6

Another tick up!

chaco up, vog up, what a great week this is going to be.Good luck to all holders.

EVO, WDBM, SCAP @ 8.4 V KBC @ 8.6

This is looking very promising now, about to head off into new territory?

Looks like 9p next stop for CHP. I'm a new holder of these, although I have been following the thread for a couple of months, I decided to take a smallish stake last week. I'm basically a value investor, however I do have modest holdings in some oil co's, sadly not VOG, but well done to those that have. Take care out there. 2517

9p would be great today!

Welcome aboard George,

I think whatever happens here short-term, with production expected from Alea in April/May we should do well, everything else is a bonus.

It might just get there at a push - then again it might re trace as daytraders sell off. Or it could just stay wher it is - there that seems to have covered everything.

Sorry - bored - just being playful

RNS tomorrrow ?? - or do you think this is a VOG reaction

Thanks dibbles, I hope it will be a pleasant and prosperous journey, I just hope I'll know when to take the money off the table, as a long term holder (still) of PET, I had the opportunity to sell @ 136p, more than 3 x what I paid for them. Greed and Fear eh!
2517

If we get news soon should easily break 9p barrier!

We have been talking about news for weeks now - since before Xmas. All this activity bodes well - just hope we get something soon

If its good news, that is... ;-)

Agreed Tony, Agreed

I am not an experienced chartist but the pattern for the last few months looks quite interesting, in that the retreats from the tops are themselves to a higher level each time.

You experienced chartists out there: what do you think?

The breakout above November's downward sloping flag c/should take us to 9.25 being the difference between the flagpole low of 6.25 and the peak of 8.50 (eod) = 2.25 higher than break out level of 7.0p. However, I think this v. young share is being driven by news and anticipation thereof, rather than chart influences of a more mature share.

sd