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I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.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

Just looking at the last three months chart, i notice, the highest point was 3.48p, the lowest and latest support level was 2.59p. looks like sideways moving trend without being too negative. this morning touches 3.02p. in my view very encouraging but investors a bit not sure what to do but the waiting time is over and the fish will fly. All in my view. best luck.

georg , you seem to know this share well - i'm being lazy but do they have enough money already to get to 7000bpd or is there a fund raising to come ?

fund raising is coming once and for all before production as more oil potential has been located. i do not worry about that as that's the sour part before the sweet. please check the latest interim. will see. best luck

georg , thanks for reply

looks to me like the sp is searching for an escape route to high places. free bird.
Must keep my eyes wide open. what going on? is anything up? how long more?
Just thinking aloud. Best luck

Looks like another buying opportunity coming up.

Yes it does, georgetrio any ideas on why they are weak today.
2517

It is low today, got some more just to bring the Ave, down ! (did show as a sell ) ??

2517George
may be oil price low at the moment and first production now in Q3 2007.
Also shares in general find their low level in september but last year it did not happen in september but in october. in general when the investors' context changes then the content can be renewed. having said that FAO is in better position than what it was three months ago in my view. will keep my eyes opened. best of luck

Nice to see CFE flying like eagle, from 1p, it is now 4p. OK let say a cool 400%.
The strange thing is, it took an article in the sunday times to wake up potential investors. Now will the same thing happen to Fao? how would you feel if it happens? what will you do with all the cash? in my view FAO will jump and soar but that remains to be seen. finger X. don't take my word for it.

Investors are always looking forward. How far ahead investors are prepared to look will vary but it is commonly said that the equity market is looking at conditions about eighteen months hence.
That does not, however mean that the market gets it right, and new factors can always come into the assessment.

things change. Do not underestimate little fishes.