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.

I can't understand why anyone is selling at this point in time!

anyones crystal ball working and know when they will stop free falling. glad i locked in profit now. still a buy for me but will just have to guess when the sp will bottom out.

robertalex - this is not freefalling, merely small profit taking. I should be very careful if you're trying to trade this and get back in. You could be paying a lot higher price in the coming weeks.

Fickle private investors in my opinion.

There is no other reason at the moment for this kind of fall in share price.

will buy in again today sometime just picking my moment. i have free trades so makes margins slightly better[one months free trades that is ]

johne1, that'll be me then !! got a wife and 3 kids to feed , need all the money i can get. lol

Nice one.

The speculation is just the sames as it was on Friday and you will pick up a real bargain.

All in my opinion.

Robertalexander,

No disrespect intended for profit takers. That is everyones choice.

Those that choose to stay in - I wish them luck

picked up a few more sub 16

back in at 15.84. thats enough meddling from me for one day. got more shares than i started with and hope that they will head north in the long run.

Hello Robertalexander,

Envyable strategy.

I am not a frequent poster here, but I wish all good luck.

Ends

That was one hell of a knuckle ride for me!!,
Glad i held.But it was close.

Definitely one to test the nerves.

MPH Good to see you buying more. The last hour has probably done a lot of good in shaking out short term positions. The prospects for the company remain as they were when this was at 18.35p. I still believe that by mid week this current sp will be looked at as a bargain price.

welcome back ra!

Shareshure,lots of buying now.
17.50 by 1630?

Sharesure
Independent today says news is imminent-do the rules allow an RNS later today!

Capetown/Bodeng Still reckon it might take until Wednesday for all involved to put their stamp on the approval.

Well, some ride that was, in the excitement I've forgotten the price we started at today, glad I'm still holding, thanks for all the informed posts.
2517

The smart people know were there at with this one, this was a major shake in advance, we all fall for it time after time, and unless you are the one shaking and laughing it's very difficult to know what to do, but we all know 9 times out of 10 it's somebody playing a game!