AMER.L Regulatory News (AMER)

18 Jul 2005 16:50

Chaco Resources PLC18 July 2005 Chaco Resources Plc ("Chaco" or "the Company") Results of EGM •All Resolutions passed unanimously •Graeme Stephens to join board in the event of an exploration and development contract being awarded in Colombia The Directors of the Company are pleased to announce that all three Resolutionsproposed to shareholders at the Extraordinary General Meeting held earlier todaywere passed unanimously. The Directors also take great pleasure in announcing that, in the event of theCompany securing an exploration and development contract in Colombia through itsstrategic partners, they will be joined on the board by Graeme J. Stephens asTechnical Director. Graeme is a 65 year old geologist, based in Western Australia, and has been inthe oil industry for over 45 years. Significantly he was Managing Director ofLASMO Oil (Colombia) Ltd. for two years in the 1990's and has been of enormousassistance to the board in developing its strategy and negotiations in Colombia.He was also Resident Manager of Marathon Oil's northern Brazil operation and hasa breadth of experience in oil exploration in South America. Most recently, hewas general manager of Tanzoil NL, a company exploring in Tanzania. Chairman Jon Pither commented "We are very gratified by the support receivedfrom our shareholders at the EGM, allowing us to capitalise on the potentialopportunities in Colombia. We are also delighted to have secured the services ofGraeme Stephens in the event of a successful Colombian campaign. This reflectsour ongoing commitment to reinforce the board in the light of our change ofcorporate purpose." Enquiries:Chaco: Martin Groak , Finance Director - 07949 209 301 This information is provided by RNS The company news service from the London Stock Exchange