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.

KJK
It's hard to watch all day even if you want to!

soooo close & yet CHP, why do you seem to be so far!

KJK - many trading/watchlist sites have an email alert facility for about 40p a pop - if you need to pop to the lav when they're about to make the announcement!

sd

bodeng, I agree. I'm just checking as often as I can. If the past is any guide, all licence/JV announcements have come before lunch so we can drown our sorrows at lunchtime and sleep it off afterwards. But there again these are hardly sorrows just boredom waiting.

stockdog, I use the ukwire one for emails.

Wouldn't mind a text alert service for Chaco as this won't be the last deal they do in Colombia. Think I'll have a search.

Thanks,
KJ

KJK, After Primavera I have a list of five more newsworthy CHP events that should unfold this year, and that's without waiting any more news on yet more Colombian assets which CHP has every intention of seeking out and going for.

Sharesure, what are the events and likely months they may happen in ? I only ask cos i always get out too soon !

Thanks

SH

SH17, I will list them next week - I have a reason for not being able to do that right now. Although it will be tempting to sell some shares after the Primavera news, for the moment all I would say is that that is merely the start. If you are prepared to hold these over 12/18 months whilst Paraguay is also progressed the Colombian assets might end up being in the shade.
Meanwhile, has anyone read Shares Mag. today. Article on page 18 on oil exploration companies and a good mention of Chaco Resources amongst others.

KJK - I've been looking for a text service too , but haven't found one yet. Let us know if you find something as I'm travelling for 2 weeks - would have liked this news by tomorrow!!

Will look foward to next week, hopefully Chaco would have seen a significant rise by then !!

SH

Are all you chaco holders on the chp email alert?
Its free,and it works,go to there website and register

fingers crossed, Sharesure thanks again for your contributions to this thread.

(Although note, cant stress enough how everyone new to these BB should do their own research and risk analysis)

KJK/GH etc. somebody suggested to me that the Chaco website offers a very fast email service for the RNS. Also dont the LSE offer a text service, I know they offer a premium line. If you get the prices texted to you, and there is a massive rise, why bother reading the RNS, you know its positive, and if you have not invested, you have missed the boat!

vistauk,it DOES and it works

Capetown/Vistauk, thanks I use the email service already - want to be able to try and enjoy my hols as well. Do you know the premium line number for Chaco price?

Greyhound i am afraid i do not,enjoy your hols

I'm quite new to all this (despite I've bought/shares in the past - I never really understood it), anyway, while we're waiting for news, just wondering if someone can recommend a good/competitive on-line broker ? I currently use TD Waterhouse, but have only recently noticed their quotes (both offer & bid) may not be as competitive. Thanks in advance.

Hi gilli10,

I use Halifax online sharedealing and can't complain, they seemed competitive when I joined.

What a friendly and constructive board this is. Wish I had started posting earlier.

Sharesure, will look forward to your post about the five events. I have done a lot of work on the future value of Chaco and its share price. Once we have the news I will put into it my figures and post it.

Also, agree about Paraguay. I am looking more for gas news there than oil.

Greyhound, I use the email alerts from companies and the uk wire service. I think I have found a way of being notified of news by SMS. I'm putting in a price alert a couple of pence above the current price and I'm choosing the be alerted when the news form CHP changes - then I will have to go and get the news from other sources. I have set this up on the A D V F N site. Hope it works.

stockdog, thanks for prompting the news alert idea.

Regards,
KJ

Thanks for info guys, off to Far East but will at least be ready for 7am annoucements, so will be checking in! The longer we wait the more confident I feel about this and agree that the Paraguay opportunities could far outweigh Colombia.