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I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.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

Well, I'm stumped. Nice positive RNS about a rig contract and aggressive push towards first production and the price dips badly. Any ideas? Not having a good day today.

sd

RNS Number:7797R
FirstAfrica Oil PLC
27 September 2005


Immediate Release 27 September 2005

FirstAfrica Announces Contract Award for Gabon Offshore Development

London, 26 September 2005 - FirstAfrica Oil plc (LSE-AIM: FAO) is pleased to
announce that it has contracted with GlobalSantaFe, Inc. for its jack-up rig,
Adriatic IX, to drill its EOV-4 appraisal/development well from late December
2005. The EOV-4 well is located in the East Orovinyare Offshore Oil Field (EOV
Field) in Gabon, and is the first of four wells that will be drilled in the
field. Additionally, two pre-existing appraisal wells are to be re-completed as
producers. FirstAfrica has further signed a letter of intent to contract
GlobalSantaFe's Adriatic VI from March 2006 for the remaining four wells in the
anticipated field development program.

FirstAfrica is the permit holder (100%) and operator of the EOV Field, which is
located 13 kms offshore in 28m of water. Oil was discovered by the previous
operator, Marathon, in the late 1990's and a recent review of the field's
technical data by the independent consultant, ECL, has led to an increase in oil
volume estimates, with a new 2P estimate of recoverable oil of 11.5 million
barrels. The field development programme is being fast-tracked and it is
expected that production will be from 6 wells via infield flow-line to a FSO.

Robert Kirchner, Chief Executive Officer of FirstAfrica, stated, "We are very
pleased to secure the GlobalSantaFe contract in the face of the existing tight
market conditions in West Africa. The timing of the first well, and our ability
to contract further for the Adriatic VI in the Spring, will permit us to meet
our aggressive timeline of producing first oil by year-end 2006."

SD Hi,

I think it's because these are too long term (drilling from March 2006, producing first oil by year-end 2006 = 6 to 15 months away from action without any delays) for some of the current shareholders, many of whom jumped in expecting a big deal on upstream assets, and the talks on those deals is still ongoing.

Cheers,
PM

There is still the long-awaited JV deal with big Asian interests to come one day on top of its offshore drilling programme. Maybe there was disappointment his was not annoucnned and they got a boring old drilling report.

Everyone must have known it was long-term since it re-listed in February - what's created the sudden volume sells today?

sd

At last, some good + news, it will keep all happy over the xmas period.
Dexter
------------------------
FirstAfrica Oil PLC
21 December 2005


FirstAfrica Oil plc

Update of Gabon Offshore Field Development Plan

London, 20 December 2005 - FirstAfrica Oil plc (AIM:FAO) ('FirstAfrica' or 'the
Company'), the upstream African oil and gas company, is pleased to announce that
it's wholly owned subsidiary GulfofGuinea Petroleum Corporation Gabon (EOV)
Limited ('GGPC') has received approval from the Government of the Gabonese
Republic for the field development plan for its East Orovinyare Oil Field
offshore Gabon ('EOV Field').

The fast-track development plan calls for the first appraisal/development well
to be drilled from early January 2006 with the arrival in the field of the
Global Santa Fe Adriatic IX jack-up rig. The previously announced mid-December
2005 spud of EOV-4 has been delayed by three weeks due to extended operation of
the drilling rig on its previous contract.

GGPC is the permit holder (100%) and operator of the EOV Field, which is located
13 kms offshore in 20m of water. Oil was discovered by the previous operator,
Marathon, in the late 1990's. In addition to the discovered oil, the broader
East Orovinyare Permit Area holds potential for incremental production from
several exploration prospects currently under evaluation.

Following the January 2006 drilling and testing of the EOV-4 well, GGPC has
further contracted for a 100-day drilling program with Global Santa Fe for the
Adriatic VI jack-up drill rig, which is currently estimated to arrive in the
Field during the first week of April 2006. It is anticipated that three
additional development wells will be drilled and completed as well as an
exploration well to prove up the broader prospect. The development plan
incorporates unmanned well head structures tied back to a Floating Production,
Storage and Offloading vessel (FPSO). Production of the light crude (37.5 API)
will be processed on the FPSO and is expected to commence in late 2006.

The Company will require additional funds to implement and complete the
estimated $68 million field development programme during 2006. The FirstAfrica
board is considering a number of different financing alternatives, including
(but not limited to) an equity fundraising, project/debt finance, and a
partnership or farm-in arrangement with a third party.

Further, with regards to third-party negotiations announced on 30 March 2005,
the Company wishes to advise that, at this time, there is no further update to
the announcement made on 7 October.

Commenting on the Gabon government's approval of the Field Development Plan,
FirstAfrica CEO Robert Kirchner said, 'the Gabonese government typically
requires a minimum of 30 days for review and approval of field development
plans. For FirstAfrica to receive immediate approval of its plan for EOV is a
testament to the technical quality of this fast-track project and our excellent
working relationship with the various agencies of the Government of the Gabonese
Republic.'

ENDS

For further information, please contact:

FirstAfrica Oil plc
Robert Kirchner, Chief Executive
Tel: +44 (0)207 908 6280

M:Communications
Stuart Leasor
Tel: +44 (0) 207 153 1527


This information is provided by RNS
The company news service from the London Stock Exchange

Morning all,
Another poster on a bb, posted that the adriatic rig is in Gabon now. I`ve checked the website and according to that it is, the only thing is that the adriatic vi is not available until june 2007!

here is global santa fe website
www.glm.com

Dexter

nice move up today ahead of the drilling any time now , still very cheap IMO
Dexter

up 15.62% and looking strong, check it out!!
Dexter

morning all,
i think today will bring a real slow down in trades, looking at yesterdays trades it really slowed down after the rns, IMO it was more of a tree shake than anything else. the rns said no deal was imminent, well that is all they could say otherwise it would have been an rns saying the deal was done or not!. a dael could or could not be done at any time, and we won`t know until we get an rns one way or another.what does anyone else think ?
regards,
Dexter

Looks good value at this price !

the rns we have been waiting for!

FirstAfrica Oil PLC
16 January 2006



16 January 2006

Commencement of Drilling

FirstAfrica Oil plc (AIM: FAO) ('FirstAfrica' or 'the Company'), the upstream
African oil and gas company, is pleased to announce the spud of its first well
in the East Orovinyare Oil Field ('EOV Field') offshore Gabon. Further to the
announcement dated 10 January 2006, the Company confirms that the Global Santa
Fe Adriatic IX jack-up rig is on location and commenced drilling of the EOV-4
appraisal/development well on Saturday, 14 January 2006. The Company expects
drilling and testing of EOV-4 to be completed by late February.

EOV-4 will be followed by three additional development wells to be drilled by
the Global Santa Fe Adriatic VI jack-up rig which is due to arrive in the field
in April 2006. Production is scheduled to commence in the 4th Quarter of 2006.
The Company expects to soon announce details relating to the financing of the
drilling programme.

ENDS

For further information, please contact:

FirstAfrica Oil plc
Robert Kirchner, Chief Executive
Tel: +44 (0)207 908 6280

M:Communications
Stuart Leasor
Tel: +44 (0) 207 153 1527



This information is provided by RNS
The company news service from the London Stock Exchange

Going to be a big day tomorrow.