If CDS finds oil in their current drilling programme in the Chaco Basin, then take a look at Chaco (CHP) which has an acreage twice the size in the immediate area. CDS expect to complete their current drilling by 18/12/2005.

According to the last RNS (copy below) CDS spudded on the 25th Nov with results expected after 20 days, thats 15th Dec (today).

######
LONDON, England - CDS Oil & Gas Group plc ('CDS'), the AIM-listed oil explorer (CDS.L), is pleased to report that it has spudded its first well (CDS-GM-05-5001) in the Chaco region of Paraguay.
The well is located 200m southeast of the Independencia 1 well drilled in 1993
on the Gabino Mendoza block which was in turn a re-entry of the Mendoza 1-R well
drilled by Pure Oil in 1959. The well was spudded on November 25, 2005 and CDS expects to reach a planned depth of around 1,600 metres in about 20 days of
drilling. The primary objective is an oil-bearing zone between 1,500 metres and
1,600 metres, identified by CDS through its interpretation of seismic reports
and the logs of previous drilling operations.
######

No news yet, presume this could come up dry?

I don't think that with drilling it is possible to be so exact as to when the target depth will have been reached. Drill problems substrata problems - there are plenty of potential causes for delay to the original timetable. If the depth has already been reached and it was dry CDS would have been under an obligation to report that straightaway as they would have had to report a strike straightaway.

could be some fun ,in the next week,took a small holding just in case,their certanly in the right part of the world,a strike here could really transform cds.

News could come on Monday!

Good volume today!

Inconclusive result for CDS:

Early results have indicated the presence of hydrocarbons at various levels
within the well, but are as yet inconclusive. CDS is currently engaged in
analysing the drilling logs and the results taken from sidewall cores to
ascertain the potential of the well. Further information will be provided in
due course.

Nice buy today!

Nice agreement today-should help Chaco Resources!

is this on the move? any thoughts?

Up 22% today ?????

Rodders

Rigs look like being moved in for an early start on Boqueron and Gabino Mendoza et al! Two at same time!

On the up again today?????

Rodders

Closed on the day up another 11.7% ??????

Rodders

They must say something soon to account for the rise. Still looks like someone has confidence in the team behind them now and the ability to bring the projects to fruition. Can it get back to the IPO equivalent launch price, possibly?
What would that be? 1.00?. It doesn't really seem feasible from a standing start but you never know?
As long as it keeps rising it's all right by me..

was there a consolidation here recently,or rise from drilling activity,any views.