CDS will issue 19,600,000 shares for this investment, which together with the placings announced on 19 February and 5 March 2007 means that CDS has now recovered £525,000, the total amount originally subscribed by Calim.
CDS has also agreed to issue 3,750,514 new shares to Geodatos SAIC, a Chilean geophysical consulting company to CDS, as part payment for services rendered in 2006 and 2007 based on the then subscription price of 1.25 pence. The cash amount involved was £46,881. Geodatos provided an aeromagnetic and topographic survey over the Boqueron Bock area with results due to be finished within the next month.
CDS is a UK company which, through its Paraguayan subsidiary, CDS Energy S.A., has a 100% working interest in three large blocks with substantial oil and gas exploration potential in the prospective eastward extension into northwest Paraguay of the productive Bolivian Chaco Basin.
Application will be made for 23,350,514 ordinary shares of 1p each in the Company to be admitted to trading on the AIM Market ("Admission"). The new shares will rank pari passu with existing ordinary shares in the Company and is expected that Admission and trading in the shares will commence on 24 April 2007. The warrants will not be listed. Following Admission, there will be 407,780,776 Ordinary shares of 1p each in the Company in issue.
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