Nas,
Jon Pither, Chairman of Chaco Resources, said: "Approaching three years ago we
embarked on a project to refocus your company and become a petroleum producer.
We are now within sight of achieving that objective. It has been a busy six
months. The next six promise to be even busier. If we achieve what we expect
during 2007 then we will have made the important transition from Explorer to
Producer."
Very bullish and bold statment for a conservative man, very postivive signal
level 2 is strong now also . 100k M buy