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I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.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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TFC - on Digital Look there were two trades of 4m - one protected sell and one buy; a 7.15m sell and a 10m protected sell - are you saying these were all buys, in fact??

I took it as quite positive that thhe MMs were inviting such volume of stock onto their books whilst the SP remained constant. I guess if they are all buys then this is positive too, but why didn't the SP rise?

Not sure how to read the runes on this one. There seem to be be very few active in this SP, but I imagine they are specialistsw and therefore knowledgeable. Are we jsut seeing a re-positioning amongst institutions or a genuine market movement do you think?

See WTE took a nice bounce 15% 2 days after your mention. Soon break out above the last resistance high. I'm not in - no spare funds, sadly, but it is a good geared play as you say.

SD

As always, have enjoyed reading the posts on this BB and now taking an interest in FAO; but can anyone answer a couple of queries.
1. With so much potential in this co. why were there massive sales of share options by directors in mid-October.
2. FAO came up on my radar as a recovery stock at the same time as CLY and looking at the charts it appears they both hitched a ride on the same roller coaster in July-August 04. I can find no connection whatever between the cos. yet the similarity in the charts is remarkable. Any suggestions?
sd.

FAO is a completely different company since its suspension on 21st December at 7.87. The sells by directors in October werre to do with exiting from the old Hansard business which had failed to turn itself into a public relations company when one of the key directors promise of new funds failed to turn up on the day. It stopped doing what it was trying to do and with 6m on the BS it was a dead shell looking for a new oyster to make pearls with.

It's new life as an oil explorer effectively started at the EGM on 7th Feb when a reverse takeover of Energem oil interests in W. Africa was approved. Nothing before that date is now relevant to the future prospects of this company.

The constant high volume of large trades whilst the price stays around the 10.5 mark suggests repositioning by institutions with long-term intentions, amongst whom RAB Capital who are very active in early stage exploration companies.

I have no idea when the first prospect for drilling will actually be identified and resources committed to it, but it will probably need fresh capital via a placing or two at that stage. Read the RNS of 14th January for full details.

Until then I have it as a sleeper rsting on the feather bed of high oil prices.

SD

StK9: Many thanks for the info and I like the analogy to the feather bed, at least I did until I read again your original post to find that we might be sharing it with a lion.
sd.

Well, having made your feather bed you'll now have to lion it!

Caught this intriguining little RNS before breakfast today and the trading has been pure blue bar one with a 15% rise since opening time.


FirstAfrica Oil PLC
31 March 2005


TSX: ENM AIM: FAO For immediate release



ENERGEM RESOURCES INC. AND FIRSTAFRICA OIL PLC -



JOINT PRESS RELEASE - SIGNIFICANT TRANSACTION NEGOTIATIONS



CAUTIONARY ANNOUNCEMENT



Vancouver, Canada and London, United Kingdom, March 31st, 2005 - Energem
Resources Inc (TSX:ENM) ("Energem") and its controlled subsidiary FirstAfrica
Oil plc (AIM: FAO)("FirstAfrica") (jointly "the Companies") advise that they are
jointly engaged in negotiations with an unrelated third party of substance (the
"Purchaser") relating to the potential acquisition of a significant interest in
the upstream oil assets of the Companies by the Purchaser and the joint future
exploration and development of the assets and pursuit of other up-stream oil
assets in Africa.



If successfully concluded, this will have a material effect upon both Companies.



The negotiations are not likely to result in any disposal of or fresh issuance
of shares in either of the Companies.



Shareholders in both Energem and FirstAfrica are therefore advised to exercise
caution in dealing in their shares until further information is provided.


I can't imagine they mean cautionary in the sense it's bad for the company, so I expect further rises in the SP when all is revealed. I'm well tucked in there at tenpence halfpenny, so moved into profit this morning, long may it last.

SD

im in too today, profit already... Looking good, cant quite believe RNS its saying theres profit to be made in this company...

I have waded in too - there is lots of oil in west Africa !!!!
Come on lets make some money...

There are a lot of majors and mini-majors with interests there - Shell - Premiere etc I believe.

Geologically it's basically an extension onshore of Chinguetti/SEY etc. Looking at the constant large trades in FAO since it relisted on 8th Feb, whilst the price stayed pretty constant, there has to be a lot bubbling away under the surface which will emerge soon it now looks like.

SD

think it might be sey they are refering too

The plot thickens! Very interesting, if it is SEY, but they normally get the exploration rights first and then sell them on to someone with the capital to develop them. They do not usually buy into a situation where they need to spend money on exploration do they?

This morning's announcement. Note Alan Levison's antecedents with Westmount, Fusion and Sterling.

Now the business starts. It's going to be a fun ride with a good deal of fund-raising along the way as they bring their various optioned prospects into play. First, I imagine, they will develop a revenue stream from their Gabon prospect. I wonder who they will partner with (see yesterday's announcement) for both capital and technical facilities.

A great long-term prospect for everyone who's in. Hold on tight and don't let go.

SD


RNS Number:4585K
FirstAfrica Oil PLC
01 April 2005


Immediate Release 1 April 2005



FirstAfrica Oil announces the appointment of Senior Vice President - Exploration
and Production




London, April 1st, 2005 - FirstAfrica Oil plc (AIM:FAO) ("First Africa" or "the
Company") is pleased to announce the appointment of Alan Levison as Senior Vice
President - Exploration and Production.


Mr Levison (53) is a geologist with 30 years experience in international oil and
gas exploration and production. The major part of his career has been with
Chevron (5 years) and British Gas ("BG") (16 years). He held senior management
roles at BG, including Exploration Manager-Africa & Americas, (where he managed
BG's assets in Egypt, Tunisia, Gabon, Angola and Nigeria), Exploration and
Production Manager-CIS & Central Europe and Director of Research and
Development. In recent years he has served as International Manager with
PetroSA, the national oil company of South Africa where he managed PetroSA's
expansion into Gabon, Egypt and Algeria. Most recently he has advised several
companies including Westmount Energy and has served as non-executive director
with Fusion Oil and Gas plc and Sterling Energy plc.


Mr Levison holds a M.Sc. in Petroleum Geology from Imperial College, London and
a B.Sc.(Hons) in Geology from Leicester University.



Commenting on his appointment, Mike Jones, Chief Executive Officer of
FirstAfrica, said:



"Alan has considerable knowledge in the oil and gas industry, particularly in
West Africa. His appointment will further strengthen the FirstAfrica management
team and provide valuable leadership focus in our objective in building a
significant pure pan-African upstream oil and gas business".



For further information please contact:


FirstAfrica Oil plc London Tel: 020 7908 6300
Mike Jones (Chief Executive Officer) South Africa Tel: +27 11 372 3312

Buchanan Communications
Bobby Morse/Ben Willey Tel: 020 7466 5000


FirstAfrica confirms that no other details are required to be disclosed under
paragraph f of Schedule 2 of the AIM Rules with respect to Mr Levison.


Background information:



FirstAfrica Oil was created in January 2005 when cash shell Financial
Development Corp plc acquired GGPC Gabon, the upstream oil and gas subsidiary of
Toronto Stock Exchange-listed energy and mining Energem Resources Inc, in a
reverse takeover.



FirstAfrica has a diversified asset base that includes the offshore EOV Permit
Area and the onshore Epaemeno exploration block, both in Gabon. The Company also
holds options to exploration acreage in Chad and Congo Brazzaville.



Energem, which was keen to bring forces to its upstream assets in order to
unlock value, acquired the rights to the 105 sq km shallow water EOV permit area
in February 2004. The acreage includes a discovery some six miles offshore on
the southern limit of the proven and prolific Ogooue Delta oil province. The
Company also holds rights to the Epaemeno exploration block, which covers 1,339
sq km to the southwest of the town of Lamberene. The acreage used includes
various prospects identified by El Gabon, the previous license holder.



In the last quarter of 2004, Energem signed up to explore a large tranche of
acreage that was relinquished by ExxonMobil in land-locked Chad. The Chari-Ouest
concession area lies in the centre of the Doba Basin adjacent to the US oil
giant's production complex, which includes access to an export pipeline to the
coast. firstAfrica has an option to acquire the Chad project from Energem. The
Congo Option relates to the rights held by Energem to the shallow water Marine
XI Block in Congo Brazzaville.


This information is provided by RNS
The company news service from the London Stock Exchange
END

HAS ANYONE NOTICED THE RNS RELEASED AT 6PM ALLOTMENT OF SHARES FOR DIRECTORS AND STAFF....THE STAFF SOME OF WHICH THE OPTION RE AT 14P AND 18P IS THIS POSITIVE

I did notice and thought the same as you, I guess. At least someone thinks they are heading in that direction sometime over the next 10 years - I personally hope a little sooner!

There is still more news to come on the major deal referred to in the 31st March RNS. Should follow soon.

SD

We're definitely on the move today - up 11.5% - now nicely off the floor with this one. Someone knows (or hopes for) something. Hope the deal is worth waiting for - how long before they announce it?

SD

Up we go another 14.5% today - I'm 40% ahead since getting in in Feb with more in Mar. Still looking forward to the real announcement to come.

SD

Im with you SD got in a tip from a friend, looking forward to more details regarding previous RNS....

also in sd, is it CHAD,NEXT NEWS

Back down to breakeven.

Any views on the sad decline over the last weeks?

Is it general market malaise, or something someone knows but isn't saying?

sd

stockie, whats going on with this lately?

Are you still in?

I found it yesterday and have interest as Alan Levison is a Director who used to be with Fusion Oil & Gas and Sterling Energy, (probably involved in the Mauritanian Government deal).

Your views on if they are worth a deeper look please?