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I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.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



">

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?

Sums it up I think.

Their reasons for going for FAO is to build a production platform on the cheap imo.

Emergen may have other ideas, and it won't be to outbid them.

FAO owe Emergen, plus Emergen have quite a large holding in the Company.

I will be surprised if this goes to BLVN.

BowLeven plc

for

FirstAfrica Oil plc


Summary of the Offer:


The Boards of BowLeven and FirstAfrica are today pleased to announce
that they have reached agreement on the terms of a recommended all share
offer to be made by Jefferies International on behalf of BowLeven for the
whole of the issued and to be issued share capital of FirstAfrica.

Under the terms of the Offer, FirstAfrica Shareholders will be entitled
to receive 1 New BowLeven Share for every 190 FirstAfrica Shares. There will
be no cash alternative.

The Offer values the entire existing issued share capital of FirstAfrica
at approximately 30.1 million (involving the issue of up to 14,082,602 New
BowLeven Shares) and each FirstAfrica Share at approximately 1.13 pence,
based on the Closing Price of 213.75 pence per BowLeven Share on 22 November
2006, being the last Business Day prior to the date of this Announcement.

The Offer, based on the Closing Price of 213.75 pence per BowLeven share
on 22 November 2006, represents a premium of:

- 25.0 per cent. to the Closing Price of 0.9 pence per FirstAfrica Share
on 9 November 2006, being the date on which FirstAfrica Shares were
suspended from trading on AIM; and

- 21.0 per cent. to the average Closing Price of 0.93 pence per FirstAfrica
Share for the 30 calendar days ended 9 November 2006.

The BowLeven Directors believe the Offer represents an excellent
opportunity for BowLeven in that:

- the combination of BowLeven's and FirstAfrica's respective asset
portfolios creates a significant, operated and focused West Africa
position;

- it will diversify BowLeven's single country exposure whilst maintaining
regional focus;

- BowLeven's management has considerable experience in developing
offshore upstream projects to apply to the development of the EOV Field
in particular;

- BowLeven intends to revise and optimise the field development plan for
the EOV Field;

- BowLeven's existing financial resources and additional financing can be
used to bring the EOV Field into production;

- the EOV Field should provide an opportunity for mid/near term cash flow
with first oil anticipated in the second half of 2008; and

- FirstAfrica's exploration potential augments BowLeven's existing 100
per cent. operated acreage position.

Irrevocable undertakings to accept, or procure acceptance of, the Offer
representing approximately 29.0 per cent. of FirstAfrica's existing issued
share capital have been received by BowLeven........


http://moneyam.uk-wire.com/cgi-bin/articles/200611230700525712M.html

How will they pay?

BowLeven plc ('BowLeven' or the 'Company')


THIS ANNOUNCEMENT, INCLUDING THE APPENDIX, IS NOT FOR RELEASE, OR PUBLICATION OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN


23 November 2006


Proposed placing of 20,863,637 new Ordinary Shares of 10p each at a price of
220p per Ordinary Share to raise approximately 45.9 million and grant of option
to Suntera Resources Limited to subscribe, by way of private placement, for
5,500,000 new Ordinary Shares of 10p each at a price of 220p per Ordinary Share.............

http://moneyam.uk-wire.com/cgi-bin/articles/200611230700565713M.html

Values............each FirstAfrica Share at approximately 1.13 pence

which, given what appears to be the spread, means there is no profit to be made ..... no real surprise

will you have to sign any paperwork to accept the new shares in Bowleven or will you get them automatically if the Board approves the takeover/merger.
i will have a problem if i have to sign anything as the mail in iraq is very slow and would hate to miss out. these shares have bombed but if there is a way i could get a little money[aka new shares] back then it has to be worth a shot. my shares are held electronically by Hoods.
your thoughts anyone
Alex

AIM
07 December 2006



NOTICE

(857)

07/12/2006 7:00am


RESTORATION OF TRADING ON AIM



FIRSTAFRICA OIL PLC



The trading on AIM for the under-mentioned securities was temporarily suspended.
The suspension is lifted from 07/12/2006 7:00am, an announcement having been
made.




Ordinary Shares of 0.1p each (B020KB8)(GB00B020KB82)
fully paid






If you have any queries relating to the above, please contact the company's
nominated adviser on 020 7409 3494.





AIM Regulation

LONDON (AFX) - FirstAfrica Oil PLC said it has agreed to a 25 mln usd loan from BowLeven PLC to settle claims of existing creditors and to get FirstAfrica through the offer period it is currently in with BowLeven.

BowLeven last month agreed an all-share 30.1 mln stg offer for FirstAfrica. The debt facility agreed today is secured on the shares of the two wholly-owned

subsidiaries of FirstAfrica which own the East Orovinyare Block and the Epaemeno Block and by floating charges.

The companies said the facility is available until the earlier of the offer being withdrawn or lapsing and the offer becoming wholly unconditional.

In a separate statement, FirstAfrica said trading in its shares on AIM has been restored from today.