Chaco Resources CHP (Moderated thread)

linda

must be a huge risk seeing as they have just signed a drilling contract! LOL




22 December 2006



CHACO RESOURCES PLC

("Chaco" or "the Company")



Rig Contract for Primavera signed



Chaco Resources Plc (AIM:CHP) announces that the Operator of the Primavera Block
in the Llanos Basin of Colombia, Gran Tierra Energy Inc.(Gran Tierra), has
secured a contract for a drilling rig to drill two wells in this block. The
Operator has advised that a drilling contract has been signed with Drilling and
Workover Services on Dec 21st and has forecast a spud date late in the first
quarter of 2007, for the first well, Cachapa 1. Updates on an actual spud date
will be released as they become available.