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I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.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

SWW

do you hold ERX ??

No I don't.

I was tempted to do so as I thought they were involved in the recent trials, but unfortunately the more bull I have seen both here and elsewhere, the more the stock has fallen into the mud, and I can't see the truth, so I will pass this time.

On the ERX thread I said I had employed my bargepole, and so I have.

Smiler
i think the case of Aen was a set back unfortunately. hopefully they will clear the mess and handle that but patience is required. i do not hold AEN but in my view if i were in that position i will hold on to the shares or buy few more at this level but this is not easy at all. best luck

hello georgetrio
have you level2 on FAO?
Any idea how much in the book on ask side at 3P today?
with all the buyers, the sp was not able to go higher as 3P

razepy
No, but yes it was all blue today but with the recent overselling, it will take few days before the buyers effect starts showing. it is a very good start though. i think the market really likes the changes in Fao and their new confidence.

Looking forward

Now that FAO has appointed a new team, it is possible to see some shares buying
ie may be Chairman buying shares together with his team. Their support in buying shares will be welcome. However that remain to be seen.

In my view, the first step in making an investment decision is to recognise excellent companies. the next step is to recognise whether the share price is fair, overpriced or expensive or undervalued. however timing is paramount. One should also know whether this is a bear market, a bull market or a sideways moving trend. The common sense is never go against the market trend. As they
say: the market is your friend. Every investor or trader is different but everybody
must control risk, and their emotion. This is not ramping, this is my view but make your own decision so you do not blame anybody else.

about 5 million shares at 3p need to be taken our before the price has a chance of rising, quite a hefty block which seems to guarantee a settled price for the day.

Drilling results out, look good.
2517

2517GEORGE

Will be checking that. thanks.
i THINK THE VEIL IS COMING OFF THE EAGLE EYES INVESTORS' FACE. WILL SEE.
BEST LUCK

you were right georgetrio

Surely they mean 2006????

smiler
Looking forward to another party. This week has been excellent as per many buys.
I mean serious buyers. I takes time to impact on the price. probably by next week thursday in my view. Same thing happened with CFE, now it moves from 2p to 3p. best luck

Share price went to 3.20p, good sign, excellent future. finger cross

Next week will very interesting after this week heavy buying. It looks to me like an assault on bears. little fishes can fly.

anything about FAO in weekends papers? this week will test fao's commitment to
increase shareholders value in my opinion. will see.

Many will agree that having a good neighbour will contribute to our happiness and the same thing may apply to a company. Apart from fao which has its producing asset in Gabon there is Sterling energy with asset in Gabon and Tullow Oil with asset in Gabon. About Tullow oil, SHARES Mag said in the current issue:
"The company (TULLOW) is aiming for a daily 80000 barrels of oil equivalent by next year as it adds emerging oil fields in Gabon and Congo Brazzaville to its roster."

Please note that FAO will be producing a minimum of 7000bopd in Gabon in 2007 with certainty for increase.

In my opinion, FAO is well undervalued and a fair price of 6p a share is overdue in view of recent restructuring and the coming production. All will happen very quicly when a news paper highlights the potential of FAO. look at CFE, investors disregarded CFE but the Times underlined this little fish, it went from 1p to 3p and still rising. Only god knows how far it will reach. The beauty of CFE is their business system. Networking franchising. If the number in the network is n then the economic power is: Power=nxn. if CFE franchisees are 16 then its economic power must be 16x16=256. BUT now we have FAO, in this case n should be the number of producing wells. Slowly but surely, the rising has started. (One should always do its own homework before investing). All is my view.