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.

fliper, personally I'm not expecting news tomorrow.

WDIK, PDYOR.

camlad

fliper, surely any announcement, if a meeting was on the 23rd, would be at earliest reported morning 24th uk time. I cant see the meeting being an early start!

It would be nice to get news this week rather than another weekend in between-next week should be news on CDS!

Copied from another board - I have no idea as to its authenticity - I can not even vouch for the poster - I merely post it here in case it corroborates any one elses information ??

"A local contact has just been into the National Hydrocarbons Agency in Bogota, and whilst the assistant was out of the office, finding the answers to some deliberately awkward questions, had a good nose at the files? Guess what?? The application was submitted on 30th September 2005. (Weren't we told it was 19th Dec or Jan?)

Date application received: 30th Sept 2005
Sector applied for: Primavera
Type of contract: E&P (TEA)
Cuenca (district): Llanos
Area (hectares) 146,100
Status: Pendiente Consejo Directivo (Pending directive of the council)

My contact confirms it is on the agenda for the next meeting, which could come to their decision straight away on Thurs, but by the time we hear, the markets will be closed, as they are 5 hrs behind us. We may hear Fri, but allowing for the company to prepare their RNS, (and tip off all their relatives) official confirmation could be Mon? However, once the decision is given, it then enters the next stage on the status .. "awaiting signing", and finally the last status is "contract signed". But once the decision is given, there's no turning back.

I would think oilvoice/oilbarrel/rigzone etc will publish it before the company, as they have pretty quick response times."

baza

Baza, interesting post. Really do not know what to make of that. Shares, page 33, has a mention of Chaco; I wrote them a terse letter on Chaco etc.(which they didn't publish!!!!!) asking the editor how many other multibaggers was his team going to let go by un-remarked.

Quite a wide spread-people waiting for news-hopefully not caught napping!

Why the sudden tick up, is there a large buy order in the background or have mm`s pushed price up to trigger sell orders because their short of stock before the news, just a thought.

Another tick down right on the hour during lunch.

Must be an automatic quoting algorithm in place to generate some business while the MM's are in the Barrow!!

Amities / Another Pl led stock ..? With my traders hat on i am neutral . From the vantage point of the investor without time as my master l am quite bullish . As reg. a dearth of stock: Your patently wrong . When a colleague of mine inquired of buying a position far in excess of the NMS he was told it was available within the normal spread . No premium as one would have expected on a consideration of this size in what is both a generally and individually a most volatile stock market. ,,,,,,which, of course, while not implying an overhang in CHP it still shows mms were either in very early on this one or are covering all thier bases.. With all variables in place all that remains for them to do is find the right text to unlock the parameteres of the s/p ......and while volume remains high that is very clever trick to perform ......Qui sait ? ...As always - lts the waiting game for holders ... Bonne Chance !!!!! a/b @+ J

MM back from lunch , normal service again

Amities Flip / So it would seem.. @+ J

The French Connection,

I would suggest you stick to France, what was your post about, were you going anywhere, utter garbage, don't waste other peoples times, the film was much more convincing than you.

Aldwick, sorry he is not an asset it is quite simply a way of deramping the stock, it is not a balanced view, check how many times this clown posts and it is all negative, he or she never reaches a conclusion, as i said utter dribble and the quicker you see that and act accordingly the better.

I tell you what lets see who is richer on Wednesday of next week, you, me or that french clown, I would bet on me.

Stew,

The French Connections insight into the workings of the market are a asset to this thread.

Any oil experts in?

I seem to remember reading somewhere that oil in the ground unproven is valued at about $5-$10 a barrel, is that a close estimate?

dibbles, depends how conservative you are - I tend to use $3 to $5

Is news immenent =? Why the big tick up first thing?

Why not? I wouldn't be surprised to see big volume today and volatility as investors take profit and jump in, positioning themselves either for later or to ensure they're in or out for the weekend.

Hi Greyhound, do you suspect like myself that if no news is forthcoming today or monday ,the frenzy will propably subside along with volumes sending the price back down to the 16p level.

Could be but not necessarily. I just think there'll be volatility. Could see 20p shortly and then profit taking. I would assume that the hot money is already positioned how it wants to be ahead of news.

Stew,

Q. Why would one of the top brokers in the city employ a clown as their senior energy analyst . I know his trading record you do not, by the way i still hold CHP.