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I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.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



">

soul* .... lest you have not seen it, you have e-mail

Welcome soul.

I'm really unhappy about the fund rasing, thats why I will leave it for now.

Worth watching though as things may change for the better very quickly, as I said, if they have underestimated target volumes.

Quite possible as the information was old from Marathon.

So; watching.

Cynic - thanks, will take a look.

CYNIC
that's sensible advice and most people here have different strategy, some are day traders, some longterm investors, or aggressive risk takers, but everybody will decide for themselves at the end of the day but different views are ok. Sometimes is more dangerous to invest in a rising share because you pay high price for something that is overvalued and i will prefer to pay less for something that is undervalued. It is a better risk. i feel sorry for people who bought yesterday cfe at 4p just to see it today at 2p. i bought it at 1p when nobody talks about it any news paper.

just quoting somebody on advfn , no axe to grind

should know better than repeating stuff from over there - ends here

although there tends to be a natural aversion to buying stocks when they have started to move up, that is in fact often the time to buy, having vtaken taken several other factors into account.

to assume that just because a stock has fallen to (say) an all-time low, does not make it undervalued; all too often there is good reason

CYnic
yes, you're right, and i agree, i believe everyone will do their due diligence before investing, like the taxes, we can not avoid risks. If fao comes to the market for the first time with their asset without any oil in view for a price of 3p, nobody will say is to much to ask for. management must perform.

TITLE: WINTER WARMER by Steven Frazer sourced: Shares mag of this week
"There was also upbeat news from Russia for relative newcomer URALS ENERGY (uen:aim). Just a year after floating on the junior market the exploration and production firm has hit targets set down at its IPO - for 2007. Urals is well ahead of schedule with flow rates hitting 10100bopd, just shy of the 10500bopd output set for year-end 2007. Investors can expect 13000bopd by the end of this year and as much as 19000bopd by close 2007, which will be pretty impressive.

Similarly upbeat on production volumes is FIRST AFRICA OIL (FAO:AIM), which thinks it is set for initial production rates of over 7000bopd from its East Orovinyare field offshore Gabon.
Drill testing of four development wells saw combined maximum test flow rates of over 10 000bopd, says First Africa, and full production is pencilled in to start in Q3 2007."
Please note that this not an invitation to buy, sell or disregard what i like to call juicy litlle fish FAO.

just be aware that Q3 2007 is a full 12 months away

yes cynic, patience is not easy in speculative investment but little fishes need time to grow. i am angry that it moved to q3 as q1 not far but i believe the will start production in q2 or at very early q3. will see. there is also the ONSHORE asset coming up and the maximum flow per day of eov4. will keep buying.

GEORGETRIO

Much better day today for fao

capetown
i agree, as each day passes, so near will be the production and we expect the sp to come up and above all, management to focus and deliver the goods. best luck

BEATING THE PROS

So how can a private investor hope to find a share that the massed guns of the investing institutions have missed, and how can his jugement be better than theirs?

One important point to remember about blue chips is that small investors are most unlikely to ferret out some fact which the professional analyst have overlooked. Where you may score is by using your common sense to arrive at a blindingly obvious conclusion the analysts haven't recognised; sometimes the professionals can't see the wood for the trees. But academic research in America has shown that the better researched a company is, the more efficient the market. That means that small investors have a better chance of finding a winner amongst neglected smaller companies. The risks of small companies are higher, but so are the potential profits. Going against the fashion with your timing is another possibility if you can spot a trend early you can do well. BEST LUCK TO ALL eagle eyes investors

"We are trying to buy growth at the right price" Colin Mclean
The ultimate value manager with a twist and winner of numerous awards from The Mail on Sunday, Money Magazine and Money Observer among others.

Any ideas as to why the spread is so wide before trading starts every morning?

Do or are the mms expecting news?

Don't know about any news but anything is possible. the support is evident and above all the earning power of this little fish is about to see heavens. Will stay put through this transition. best luck

Cheers G

Even though, the way up is difficult, you will not give up, my little fish, where as you have been forsaken and no one care for you, my little fish fao, soon they will ALL gather and admire your rising. Fish can fly. Best luck to FAO

BIG WARNING

DO NOT KEEP YOUR EAGLE EYES OFF THIS ONE.
The company is now in a transition period where lot of things are being reviewed mainly the market perception of FAO. New board is in place busy to do just that as they understand that it is not only having plenty of oil in place or a plan to deliver 7000bopd in Q3 2007 but to be in tune with the investors. Mistakes do happen but one must not repeat the same mistake. Now everything is in place, we can only move foward knowing that our earning power is about to rise seriously wheter the oil price is $40/barrel or $50. Once FAO regain the trust of the market or its confidence everything should be ok. If the market loves a company and trust the management the future of the business is rock solid. Like i said before Fao will rise but also jump and soar like a free bird. Fingers X. Best luck to FAO.

Recent AFX news relating to FIRSTAFRICA ORD 0.1P
FirstAfrica Oil appoints Mark Callaway as CFO, replacing Robert Rainey

LONDON (AFX) - FirstAfrica Oil PLC said it has appointed finance manager and group financial controller Mark Callaway as chief financial officer, replacing Robert Rainey.On Sept 4, the company had announced Rainey would become a non-executive director once a replacement chief financial officer was found.newsdesk@afxnews.comcmlCOPYRIGHTCopyright AFX News Limited 2005. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly ...
Tuesday, 26/09/06, 10:59