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I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.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

None of the brokers I have used do put options.

I do trade covered warrants and listed CFDs though and do use puts by that means. Though obviously these are issued on only relatively few equities.

Which broker do you use, because I am having problems with Barclays CW prices staying frozen through highs for up to an hour while I see the live price on the SG site move me into unreachable profit.

georgetrio - you must have more money than sense. As for the following tripe:

control their risk by buying a traditional put options in fao or another put to reduce the risk that's not bad

You're full of it!

;-0

big al

Just because there is risk, it does not need to be risky. sometimes strange things do happen but understanding is the solvent of all. every investor has a plan, and i have my plan in this sweet and sour game. people should follow their own plan. Keep your sense to yourself.

un point de vue est un point d'aveuglement. Blaise Pascal.

Go a hatful blind, Georgetrio!!!

Georgetrio,

Mais que fait-on des petits poissons qui ne volent pas comme il fallait?

soul traders
cheers, give them a chance to grow their wings. it takes time.
seriously, for those who bought FAO at its peak, i can not blame them for being angry. My plan with FAO is to buy more anytime the sp is falling because there will be consolidation but only between 0.01p to 3p. i am buying lot by lot instead of in one go because the company is in transition ie high risk.
best luck. laisser les petit poissons grandir, faut pas les tuer.

you got some seo as well????????

Stockdog

Go a hatful blind, Stockdog!!!

maddoctor

No, i don't have SEO but i have another dangerously high risk which is BLL. And I am not selling any of my BLL.

georg , just jesting , same chart , same fund raising issues - funds or bust?

maddoctor

you are the doctor may be you can help. i think in this case patience is required as we have a new management trying to clear the mess of the previous one. at this stage those whose don't like dangerous game should stay away till the knife reach the ground. The best thing is for the sp to hit the ground and restart afresh but it will not go bust.

georgetrio So which broker?

georgetrio So which broker?

rpaco
i use shareviewdealing.co.uk, halifax.co.uk but i use more hoodlessbrennan.com

I'll never understand people who buy downtrends in obviously risky situations - lambs to the slaughter more often than not.

What is the point when there is consistently easy money to be made (and lots of it) in so many other (opposite) ways?

I think you're bloody mad! ;-))

8. Risk Factors

. In the event that the Company does not raise any funds in the Placing and the Company has not been able to arrange alterative sources of finance by the end of October 2006, it will be unable to continue to trade. If the Company can raise some but not all of the US$53.9 million required, then the Board will make a commercial decision at the time as to what minimum funds are required in order to continue to trade.

. If the Company cannot raise the US$25 million debt finance as stated in paragraph 2 above then the Company would have to raise further equity funds and/or arrange alternative sources of finance.

. The size of Energems holding in the Company is such that it has the ability to vote down Resolution 3. Energem has chosen to reserve its right to consider the Resolutions at the time of EGM in light of the funding opportunities available to the Company at that point.

. The nature of reserve quantification means that there can be no guarantee that estimates of quantities and quality of oil stated as recoverable can be extracted or that extraction, if possible, can be undertaken on a commercially viable basis.

. Delays in the construction, commissioning and general development of the Companys projects or other technical difficulties or natural hazards may result in the target dates for production being delayed and/or further capital being required beyond that envisaged at the date of this document. For instance with specific regard to the development of the EOV Field, there is no guarantee that a contract to lease the FPSO or a jack-up rig can be agreed.

The risks above do not necessarily comprise all those faced by the Group and are not intended to be presented in any order of priority.

http://www.firstafricaoil.com/UserFiles/File/Reports/October_fundraising_circular.pdf

HI GEORGE
les petits poissons vont crever si l'augmentation de capital ne rssit pas
c'est pas Pascal mais alinox

I 是或許如此為什麼心煩不講那些在任何情況下, 為什麼必須繼續寫以外語, 您不知道是否? 回到首先被定量關於油的論據非洲

swank!

At the end of the day, the price of this share has halved in a week. It's throwing money away.