Is anyone tracking FDC (Financial Development Corporation - used to be called Hansard).

After a mixed history (to say the least), it is now a shell with about 5.9 m cash on the BS. After a period of suspension at 7.87p the shares were re -admitted on 14th January along with an intriguing announcement that a certain Canadian Mining/Oil company Energem was reversing its Gabon (and optionally Congo and Chad) oil interests into it. RNS 14th Feb makes interesting reading, as does the update yesterday.

EGM is on 7th Feb (Monday!) at which all arangements will be formally approved by Shareholders - I trust a formality. All being well, the company will be renamed First Africa Oil plc and 361,365,823 existing shares will be temporarily suspended and 1,483,846,933 new and existing combined shares will be re-listed immediately - the new issue obviously going to Energem interests to pay for the assets transferred into FDC.

There are lock-ins with the institutions, amongst whom RAB who are also in FGML and FOGL (other speculative gold/oil co's) - so they think it's a good thing too, which is a comfort.

The shares have risen steadily from 7.87 re-list price to 12p today. I bought in at 11.375 last week and have watched with somewhat bated breath the substantial each way trades going through between the big boys, not least Man and Cantor (well known abitrageurs ??) in and out on different days.

I've taken a punt (based on only those two RNS's and a large degree of hunch) that, post successful EGM the shares will substantially re-rate - God knows where to (or in which direction!) but I'm enjoying the anticipation of news first thing Monday.

Anyone else in for the thrill? Any views?

I shall carry on being the lone (pace Andy) voice on this intriguing share.

8.9 million shares traded today of which 98+% were sells, yet the price rose from 12 to 12.5p.

Big announcement Monday - EGM to reverse into Energem W. African oil interests (where was I reading yesterday that W. Africa is the new M. East?), change of name and re-listing of a greatly enlarged share capital.

Wither the price then? Will there be jam tomorrow? I will be glued to this share at 8.00am Monday morning - or perhaps just stuck with it.

Anyone care to join me?

Happy weekend.