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I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.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

sww

I found this one as it was turned into a cash shell from previous, muddied existence, and watched it reverse into Energem's W. African oil interests and took a punt, watched it rise 40% then fall back to all square where it's been for some weeks now.

There is supposed to be an on-going deal being hatched as per RNS some time ago and mentioned again on appointment of new directors recently, but it's taking a very long time to become concrete.

I'm staying in as a speculative punt on the oil price making a load of marginal prospects economic. At least all the infrastructure is there to ship any oil they do find. It has not escaped my notice that it's quite close to SEY's activities off Mauritania - although they are usually farm-out experts and FAO are doing what SEY normally do, so can't quite see a JV between them.

I expect that in the desparate search for more oil, some major/mini-major will come in and actually drill at some stage. But the news flow is a little thin to say the least.

Can't see much downside at present and any good news would lift the price - nows the time to lock some away and forget if you've a mind to get in at all.

sd

Thank you.

I will decide probably within the day, I am intrigued t6hat the ex Fusion man is there.

Low volume, but some serious buyers out there today. Summat's afoot, I wouldn't wonder. Are they about to announce that major deal they talked about so long ago? Is it with Shell or Sterling, Hardman or Woodside perhaps. Who knows, but I feel FAo's time has come.

sd

Times today - rumour of the day - large Asian interests may shortly conclude a deal for FAO's W. African assets.

25million shares traded yesterday and today, including some big sellers (institutions getting out from reverse takeover days??) about 2.4 times 20day average volume.

Price ticked up .25p yesterday and same again today.

Looks like the long awaited deal announced some months ago may be nearing consummation.

Chart looking decidedly uppish with SP haveing crossed upwards through 10, 25, 50 and 200dma's on increased volume and no where near any overbought indication. Further to go IMHO, especailly on eventual announcement, so I continue a highly speculative HOLD.

sd

Finals to 28th Feb 2005 released today. Historical numbers are irrelevant, other than the approx 6m cash and no liabilities on the BS as it entered the new year and a new life as an oil explorer/producer. CEO and Chairman's statements make intriguing reading I believe. See for yourself.

RNS Number:6735Q
FirstAfrica Oil PLC
31 August 2005


Immediate Release 31 August 2005

FirstAfrica Oil plc

Corporate Update and Results to 28 February 2005

London - 31 August 2005. The Board of FirstAfrica Oil PLC ('FirstAfrica' or 'the
Company') is pleased to announce the release today of its annual accounts for
the financial year ended 28 February 2005. FirstAfrica was created on 8 February
2005 following a reverse takeover of cash shell company Financial Development
Corporation plc by Energem Resources Inc., which maintains a controlling
interest in FirstAfrica. The information contained in the accounts is thus
largely historic and of no relevance to the current activities of the
re-constituted FirstAfrica except that, on reverse takeover, the company had
approximately 6 million cash in hand and no significant liabilities. For more
complete details of the transaction and subsequent creation of FirstAfrica,
reference should be made to the Chairman's statement and summary accounts below,
and to the accounts (which are now available for downloading) posted on the
company's web site at www.firstafricaoil.com.

FirstAfrica was created as an Africa-focused upstream oil company engaged in the
acquisition, exploration and development of oil resource assets. The first asset
to be developed is the East Orovinyare (EOV) oil field discovery offshore Gabon,
and the Board is pleased to announce that development plans are on-track for a
drilling rig to be in-place for a first well by late December. The Board is also
pleased to announce that further analysis of technical data by independent oil
and gas consultants ECL has led to a more than 30% increase in resources in the
discovery field, with 2P reserves now assessed at 11.45 million barrels. Further
evaluation of other potential prospects within the wider EOV permit area is also
underway with early analysis showing an unrisked STOIIP of 421 million barrels,
as stated in the Admission Document dated 8 February 2005. Further drilling and
infrastructure development is scheduled for Spring 2006 with first oil
anticipated late in the year.

FirstAfrica also holds the exploration licence for the Epaemeno Block onshore
Gabon, which is on the same geological trend as fields currently in production,
including Shell's Rabi Koungo. Technical data for Epaemeno has now been
successfully acquired and evaluation can begin.

FirstAfrica's other assets include two options to acquire on favorable terms
several exploration blocks held by Energem. The Chad Option consists of the
Largeau Basin in northern Chad and the Chari-Ouest block next to ExxonMobil's
producing fields in the Doba Basin in southern Chad. FirstAfrica is pleased to
report that technical data has been attained and is currently being evaluated by
independent consultant PGS as the first step toward the possible exercise of
FirstAfrica's option. Further announcements will be made in due course.

FirstAfrica also holds an option granted by Energem to acquire Engergem's
interest in the Marine XI block offshore of the Republic of Congo
(Brazzaville). On 25 August 2005, the Company became aware that a UK listed oil
company had announced its participation in the Marine XI block and that it had
signed a production sharing contract for the block. Notwithstanding these
reports, Energem has advised FirstAfrica that they regard their position with
the Marine XI block to be unchanged and their negotiations with respect to this
block are ongoing. Further announcements will be made in due course.

With regard to the upstream negotiations with a third party, FirstAfrica is not
yet in a position to provide shareholders with any more information than has
been published to date, i.e, that the negotiations referred to are proceeding,
and that it is a major potential transaction for FirstAfrica and its parent
company, Energem. These negotiations are complex and need to be carefully
managed and it is taking some time. However, premature disclosure could
be damaging, particularly to the potential transactions themselves, and
FirstAfrica needs to proceed diligently with the negotiations. FirstAfrica will
inform shareholders of any material developments as soon as they occur.

Commenting on today's announcement, FirstAfrica CEO Robert Kirchner said: "I am
very pleased with our progress in Gabon and with the evaluation of the assets
over which we hold options. What distinguishes FirstAfrica is that we are not
purely an exploration company - our EOV field offshore Gabon is a discovered
field with known recoverable reserves, and we are on track to have that field in
production by the end of next year. In addition, we have very exciting
prospectivity in the onshore Gabon Epaemeno block, as well in the Energem assets
over which we hold favorable options. We are putting together a strong team at
FirstAfrica, a team that is intent on delivering."

For further information, please contact:

FirstAfrica Oil plc Tel: +44 (0) 207 908 6280
Robb Kirchner, CEO
Rob Rainey, Finance Director

Buchanan Communications Tel: +44 (0) 207 466 5000
Bobby Morse/Ben Willey

Attached:

Chairman's Statement
Consolidated Profit & Loss
Consolidated Balance Sheet
Consolidated Cash Flow Statement
Notes to the Accounts