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I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.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



">

BLVN showing real worth of FAO?

;-)))

sad but true BIG Al !! :)

This is the flip side of all this oil speculation IMO. It ain't all up, up and away, folks!

As ever, it's the punters that get taken for a ride - usually downwards.

Big Al whats your thoughts on BLR ?

Know nothing about them, smiler o. Sorry

Where's georgetrio ?

His little fish is about to be swollowed whole and shat out again.

I reckon Emergen may have some say in this before the dust settles, the question is, do they want the EVO expense or not?

They hold just a faiir propotion of FAO in paper at 6pence per share, so they wont want to sell that off for less imo.

Doubt any bid will be anywhere near that, so also imo this bid will fail as BLVN have cash but will not want to pay more than, say 2.5p per share as it stands.

SWW I was thinking that a few days ago wheres george gone, 11th Oct his last post ?? I still hold 20000 shares, lucky i sold 70% at 3p for some erx ??

I'll let you know about ERX, I have a few too(very few).

georgetrio had lots of little fishes as I recell, and most of them from what I see are not doing too well, till now perhaps.

You know Ihad some FAOand dumped out a while back, I can't say even this development would persuade me to come back, (if they were not curently suspended), no Emergen hold the trump card here, they may want to wind FAO up in which case they get EVO for a fraction of the net worth.

Okay it more compicated than that, but I have always suspected Emergens motives in setting up FAO in the first place.

SWW---2.5P That would be a nice recovery, just below the 2.6p I paid for them, I suspect georgetrio has trouble with his/her r's, what he/she really meant was that these little fishes would fry, not fly.
2517

Time will tell me thinks, I also hold BLR a small tic up this week ?? :)

CORRECTION BowLeven approaches FirstAfrica with 30.2 mln stg takeover offer
AFX


(Correcting figure in headline)

LONDON (AFX) - Oil and gas company BowLeven PLC said it has approached FirstAfrica Oil PLC with a potential takeover offer, valuing the company at about 30.2 mln stg.

FirstAfrica's board has, in principle, expressed its support for the offer, BowLeven said.

BowLeven, which currently focuses on Cameroon, is offering one of its own shares for every 190 FirstAfrica shares.

Based on BowLeven's closing share price of 214.5 pence yesterday, this values FirstAfrica at around 30.2 mln stg, equivalent to a premium of 25.4 pct on the target company's share price of 0.9 pence prior to its suspension from AIM on Nov 9, it said.

newsdesk@afxnews.com

abr



COPYRIGHT

Share Price (p) as of 09/11/06 1.00
Shares in Issue (Current) (m) 53480000


Value put on FAO is 30.2 MIL

My idea of doing these sums is never too good but I think that looks like Emergens 6p is taken care of.

I have to be wrong, it can't be that good, maybe I am missing a decimal in which case they are stealing it for .6 of a penny.

Anyone?

Yep its's .58 of a penny

But if you divide the total shares by 190 then x by 214.5 you get value of
603 761.04 for company so what am I doing wrong and will we actually get 6p per share? Sorry to be so thick!

You and me both maggie!

Where did you get your figures from?

Mine are from here in Company research

I took them of your post But have checked and TDW give no of shares as 2930.8m if you divide that by 190 and x by 2.145 it works out at 3.3m so we're not getting 6p per share, pity I would have got my money back!!!!!!!

Sorry maggie, but was I close? or did they not say.

Thought 6p was toooooooo good to be true I don't have that luck but maybe the insts will drag it up for us anyway advise seems be be to take the shares.

FirstAfrica Oil CEO Robert Kirchner resigns
AFX


LONDON (AFX) - FirstAfrica Oil PLC said Robert Kirchner has resigned as chief executive officer with immediate effect.

His duties will, for the foreseeable future, be carried out by John Bentley, executive chairman.

The company asked to have its shares suspended on Nov 9 pending clarification of its financial position. On Nov 15, FirstAfrica received

notification from BowLeven plc of a possible offer for its entire issued share

capital. It said today that further details on the company's future will be announced shortly.

is not BowLeven under a cloud at best? ...... if so, is this not a bit like the dead asking for a brain transplant?