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.

so pp after reading the above do you think you might join in??

Oracles, What kept you out of this for so long? Some of us have been highlighting this company for a few months. I have been predicting this as the 'Cairn Energy of South America.' It has all of the right ingredients. PS John Morris is chief Exec. and a very respected by those who are in the industry.
This coming week should be very exciting for Chaco but will be really only the start; Paraguay is probably where the biggest potential lies although 55% of the 400m barrel Primavera field in Colombia is a useful start.

cairn nearly 20--I'm dreaming that CHP will shoot that high eventually if I'm patient!!

Nicely put together reading on smallcaptrader. Nothing new from what we've all already been discussing, but good to see it getting a greater following. It does indeed look as though we're in for a fun few weeks.

Kivver, not yet, in the future yes, but not at the moment.

PP - might be too late if you don't jump in early this week??

tizzamark, I will be waiting for May/June time ;)

PP - any reason why then?

Good luck to all holders for the week!

http://news.independent.co.uk/business/analysis_and_features/article346505.ece

Chaco can rise further if it gets Colombia go-ahead
Chaco Resources, the South America-focused oil and gas explorer, saw its shares finish at an all-time high last week. The company awaits news on whether it has been granted an exploration and production licence for Colombia's Primavera block and word has it a decision is imminent. On Friday, Chaco raised 1.5m through an equity fundraising - money it needed to assure the Colombian authorities that it has the resources to develop the site. Should it secure the block, the group's shares may go a lot higher.

fnark, was that extract from The Independent?

off to a flyer pp with plenty of buying (if the figures are correct of course)

Sharesure, was from Independant Online...

fnark, Thanks.

20P HERE WE COME

not bad PP for a speculative hold (who tipped that???) big volume traded (mostly bought) up 18% last friday too. Whoever tipped these i would love to see their speculative buys, lol. ps i know it can all go pear shaped in the blink of an eye.

Full marks to sharesure and others for keeping the faith. As you may remember I was sceptical until after the October fund-raising reduced the risk for me and then came in and topped up on break out above 8.75p previous high (via a dreadful internet link form S. Africa which cost me 10% whilst the trading page down-loaded!). Very happy. Already just about doubled my total investment with good news still to come. Thanks, guys for a great thread on a great share.

sd

Its certainly nice to be making some real dough for a change !

Great news not due for a couple of days!

Question for all you regulars,if good news comes out on any share and the price jumps significantly,does it go up purely on investors buying the stock or can market makers push the price up based on the potential of the company? Just curious to know.Great times ahead for chaco, fingers crossed.