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I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.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

"The Company expects to soon announce details relating to the financing of the
drilling programme"

Except this indicates a share placing.

Otherwise very promising.

I'll dip my toe........

I'm afraid I'm already up to my ankles - in since 10p on early re-listing after changing its nature to an oiler. So here's hoping my tenacity will pay off.

sd

I'm in for a few more from the off too.

So whats holding the price down?certainly better then nop's sandhills misadventure, when nop shot to over a pound.

Hi all
SAW - I think whats holding the price down is because there have been more sellers than buyers today, which I found strange (maybe I'm still missing something?)
But according to what I have managed to dig out:
instead of FAO just digging (like most other small ish companies) looking for the oil, their RNS of 31/08/05 stated that after having the technical data further analysed by an independent oil/gas consultant (ECL) - this led to an increase of 30% in resources, with 2p reserve now at 11.45 mln barrels, if not significant at least we know unlike some other companies just digging to find an empty well !??
I've taken a punt, in the believe that come end of year when the production have started and oil WILL be digged up, there will be only one direction for the sp (north). DYOR.

If you check there website the potential,which is what the share price should reflect is alot higher.They have some juicy licences.gilli10, on the17 there were more buys then sells.

It's concern about the fundraising that is keeping it down.

Thks guys, yes that is a very hefty $68mln they're looking at to raise - very ambious indeed, but does that not also indicate it's 'bigger' potential perhaps?
For me, it's a gamble I'm willing to take, having just re-entered again (I made some profit from them last year when it went above 10p).

Some nice buys going through.

The more buys we get the lower we drift.

Someone getting in on the cheap ?

Worth a look at this price.