Hi everyone. I started this thread as FDC - but the copmpany recently changed its name to First Africa Oil (FAO). For completeness (nay, posterity) I've copied the original thread here - only three posts, two by me. So, as you can see I haven't given up trying to let you know about this very interesting prospect in W. Africa on and off shore.

Recently there has been a good deal of very heavy buying and selling since the reverse takeover on 7th Feb by Canadian Minerals comapny Energem's oil interests of FAO, in particular the following RNS on 15th Feb:-

The Company was notified on 14 February 2005 by RAB Capital ("RAB") that, following an
acquisition of 144,930,638 ordinary shares of 0.1p each ("Ordinary Shares") on 8
February 2005, RAB currently holds a total of 144,930,638 Ordinary Shares
representing 9.76 per cent. of the Company's issued Ordinary Share capital.

Now RAB has significant positions in FOGL and FGML and I believe many other similar oils/minerals co's and is no fool when it comes to taking large chunks of highly speculative early ventures.

I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.

Good luck.

Stock Dog

http://www.firstafricaoil.com/index.asp



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Many investors do agree that it is better to buy shares when they are cheap or undervalued and sell them when they are overpriced. However, many do find it difficult to apply. Safety margin can not be ignored or disregarded .

EXTRACT 7 FROM THE LATEST INTERIM

In order to meet our goals for the fast track plan, facilities fabrication has progressed in parallel with the drilling program. The Platform is 80% complete with installation now planned for the first quater of 2007 and production to commence shortly thereafter.

HI Georgetrio

Things are looking ok, have you looked at the trades today!

HI smiler

yes, i did look at trades today, it was sky blue all over, the last sellers have gone and the value is highlighted. best luck.

FAO NEW APPOINTMENTS ON 04/09/06

NEW BOARD FOR NEW START FOR NEW FIRST AFRICA OIL

PLEASE CHECK YESTERDAY RNS FOR ALL APPOINTMENTS.

Appointment of JOHN BENTLEY AS EXECUTIVE CHAIRMAN

The board of FAO is pleased to announce the appointment of Mr John BENTLEY as
Executive CHAIRMAN, effective 1st September 2006
Mr Brian Menell, currently executive chairman will become Non-Executive Deputy Chairman.
Speaking of his appointment, Mr BENTLEY said: " I am delighted to take up the appointment of FAO at such an interesting period, leading in its development, shortly before production is expected to start from its first producing field offshore Gabon. This will provide the company with a robust platform for future growth."

georgetrio - do you really hold all these oil minnows or are you on a wind up?

YES, I HOLD FAO, PVR, SEY, GOO, GTL WITH NO REGRET. I HUNT JUICY LITTLE FISHES BUT AFTER SERIOUS HOMEWORK. THE HIGHER THE VOLATILITY, THE HIGHER THE RISK AND REWARD. MY FIRST PORTFOLIO WAS A DISASTER BUT EXPERIENCE COMES IN AND I CAN SAY CONFIDENTLY THAT I HAVE THE ABILITY TO RECOGNISE VALUE OR SEE AND SEE THROUGH THESE LITTLE FISHES.
IN ORDER TO WIN, ONE MUST BE ABLE TO CONTROL LOSS SAID MY GRAND MOTHER. WE ALL LEARNING EVERYDAY AND IMPROVING ALL TIMES.
I ALSO HOLD CFE, BOUGHT IT AT 1P NOW 2.58P, DCD AT 1P AND WENT TO 1.30.
I ALWAYS TAKE 20% OF MY FIRST PROFIT AND BANK IT. BEST LUCK TO YOU AND TO MYSELF

seawallwalker--------- I can quite believe it, I'm by nature a value investor and always will be but, I have been bitten by the oil bug, I hold PET (2 years+) CHP,GOO, PELE and SER the last 4 bought from Feb this year. They tend to be more volatile and exciting then value stocks, I'm down a lot on PELE, even on PET but the other 3 i'm into profit, quite nicely on CHP and GOO, I'm just waiting for PELE to score.
2517

georgetrio

you have done well, I have BLR AS WELL, still waiting on OXS to move !! lost big on AEN, NOT sure whats going to happen there !

smiler

the loss will be accounted for if and only if you sell the shares. there are times when one must sell shares and go and find another company. however if the share went down but there is still plenty of value in the business i will buy more shares at bargain price considering the economic power of the business and the market health. if you do not sell; then there is only paper loss till recovery. i bought NMI at 1p but just because of recent Directors selling the share went back to 0.69p. not very nice but i know value is there so i became aggressive buyer. well today the share is back to 1.10 within a month. very nice indeed and i always take my 20% porofit and bank it. Sould be like this all times but life is sweet and sour. sorry to be too long here. best luck

Smiler

on oxs, i think you should check the net asset value (nav) of the company. if the share price is below the nav there should not be a problem. i will be looking at this myself.

Georgetrio

Thanks for that, appreciate the advice just seems a bit slow at the moment (oxs ) I THINK aen is gone !!

Georgetrio 20% of first profit is a good tactic.

I may do that in futrue, it's a way of avoiding a sudden drop and loss as most stocks in this field rarely lose more than that on a dry hole for example.

I admire your accompanying enthusiasm.

I will look again at PVR and FAO because of what you have said so far.

I nearly bought PVR today before I saw you were on those too.

smiler o - I have been around the block with things like PET and PRE and don't feel much like going on another lap.

Good luck with them.

sww

Thanks I am stuck with them for a while i think !! oxs may be ok in the long run ( i hope )

seawall

Ilike PET very much and I hold it for a year then i sold it, reason is, it was a modest holding but i failed to buy it around 29p before it hit 89p. too late, even though, I had it on my watchlist, I learnt from that. i then bought it at 45p waiting for it to drop a bit more so i can increase my stake but it did not happen.
I still think over time it will produce nice value for its investors. If it hits the ground i will pick it up. that remains to be seen

smiler
i will check aen

DYOR - do your own research
www.rnsfocus.com

seawall

yes, profit taking is important where there is no dividend payment and in volatile shares. I learnt from my past mistake but if the company is excellent i try to buy when the sp pauses and is really value cheap. i was also buying in momentum shares, now i stopped, i don't buy anymore a share that is far over the net asset value. i bought Goo between 5p and 6p that was good value then i bought it at 7p just right but i did not buy it anymore because i was waiting for the news. i will buy again at 8p if possible because is top banana but i want to buy it cheap at each level. I think PVR should be bought between 5p and 6p and wait for the next level but PVR is a very excellent company. FAO is reborn and will shine by all means. RIGHT now FAO is more than cheap.

wisebob

I have read all RNS on Aen . its now in the hands on the Bangladesh government but does not look good, but thanks !

georgetrio - fair comments, thank you for sharing your thoughts.