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I've cut out a lot of this as now out of date, leaving just the first post and now, by special request from SWW, here is a weblink and a chart.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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Such approbation from TFC gives me comfort that I have not made a completely dumb move. I now have a nice worldwide spread of oils - Falklands, Columbia, W. Africa (marine and mainland) GoM, bit in East USSR (whatever it's called now). I feel the hatches are battened for oil at $100, as I am also with gold interests when the FTSE caves this year as the US$continues to fall.

On this last issue, anyone buying GBS - interesting pure physical gold loan note backed by real bars hidden in London. Each share buys you 1/10 troy ounce. Storage insurance cost 0.25% per annum which is periodically deconsolidated from your holding instead of being paid in cash.

SD

Stockdog:
Glad to see someone is keeping an eye on the big picture. Some of us worry that the pumpkin and mice will turn up to spoil the party.

Well, strange day. 4 unknown trades, 6 buys (some of 150k) and 38 sells (some of 500k/1m) and the price rose 5% at the end of the day. Serious manoeuvering, but serious future interest too, by the look of things.

Anyone know what's occurring?

I feel a bit like Shrek and Fiona's faces when they spin round on that potion machine in Shrek 2.

SD

Few trades, but some serious selling amongst which 3 X 500k and 2 X 1m today so far - and still the price ticks up.

So MMs must be happy to take stock onto their books from the original placees at this price. They obviously expect future profits when the price rises. So do I.

BOD

SD

Amities / SD; l strongly agree.Although some of the bigger trades to which you make reference in your last mail transpired to be holders rolling thier stock it is certainly worth noting , and manifestly bloody obvious , that after todays ( Monday ) trading what with a tad shy of l million sells and a mere single buy of 38,000 ( me ..lol) that mms in maintaining both the "bid"/"offer" price-but esp. the offer price -are without doubt accumulating stock. Of that simple fact i am SURE.Absolutely. ..On first glance volume seems only remarkable in that it is relatively low for a for a smallcap such as FAO which was only today ( monday ) re-listed after the amalgamation of the acquisitions of a number of what seem potentially lucrative oil and gas ventures from Energem. And as such a vast amount of buying and selling and wiley manouverings was only to be expected prior to todays relisting. { especially in light of the pressures for a re-rating which to my mind it patently deserves. }.. But when you couple this fact with the recent ratio of sells outstripping/outweighing buys in excess of 40 /1 ( as witnessed by trading on the 9/3/2005 which saw in excess of 5 million sells and a mere 60 odd thousand buys} and yet the s/p rose on that particular day by 5% and in the corresponding period by 10%, l think you will agree that mms know a little snippet that as yet is not in the public domain But we can rest assured the 20 million shares mms have absorbed whilst INCREASING the s/p will eventually be sold on at a vast profit .Of that i have no doubt. With Rab Cap having in excess of 104 million shares { amost 10% of issued stock ), and Trustes for the Royal bank of Scotland on behalf of Merill Lynch controlling a furthur 102 745,813 shares ( 6.9% ) and Cantor Fitzgerald taking a 21,580,000 stake ( 1,4% ) and with the Man group expressing clear interest FAO is not without friends in the city. lt could even be argued that FAO with a current m/c of 163 million have a strong case for a re-rating and automatic entry to the FTSE 350 which would automatically invite tracker funds . .... As a footnote it may well be worth noting that the tiny oil rich state of Equatorial New Guinea in whose maritime waters EVERY global player has huge interests, { and even bigger investment is planned by Exxon Mobile ,,BP ,,Total ,Chevron ect ect }, lies immediately North of the Gabon. The rotary count is phenomenol and the list of licenses held by the mega players in the oil arena is like a catalogue of "Whos who" in the oil world ;and such is the scale of both PROVEN and Probable recent oil finds in this area that it was recently the victim of an aborted coup led by S/ African mercanaries and which implicated such high profile figures as Mark Thatcher .Such men as this are content to remain anonomous but such is, and can be and indeed proved to the lure of riches beyond such a kings ransom and thus a mans dreams . .And why ? Oil ,of course. Black gold indeed. Such resource wars and scenarios are the agenda of the very near future. ln fact we already know they have began - but that is a different story. But in a country of a mere 417,000 inhabitants, which to put things in context, is but a third of the population of Essex , Equatotial new guinea with no airport seemed an easy target.Quite interestingly the airports which serve this tiny country are Libreville in the Gabon itself, or Yaounde in the Cameroon. Of even more interest is that upon glancing though my Alexanders gas and connections the licenses of both Chevron and Total hug the Gabons maritime boundary.< En brevite'> The two nations share a common border and hence in parts not disimilar geologies exist ; and working on the undisputed hypothesis that the best place to look for hydrocarbons is in the shade of a a proven field the prerequisite host to oil is a factor already in place . ..My only shock is that Gabon has not already had the majors clamouring for a piece of the cake . So one is left but to ponder the very inevitability of oil being struck in the atlantic seaboard of the Gabon.. . So all things being equal-Like yourself SD i have made a percentage play.Nothing serious .,l have a couple of opening gambits of 100,000 @ 10.9p made on the 8th and 38,000 made today @ 11.50...l am confident that among the plethora of licenses brought under one umbrella by FAO many will prove juste as lucrative as those for the holders of licenses operating within the territorial waters of ENG have done . .,,Bonne chance ,,,a'bientot ...@+ J ...

Morning TFC - glad to know I'm in good company. Am contemplating re-balancing my own holding upwards with top-sliced profits from FOGL. Half in FAO the otehr half in SEY (must coem good sometime. The fact the MM's have kept SEY trading within such a narrown range gives me confidence that they are quite content to wait for major lift off nearer to production in 2006, so softly, softly catchee monkey as the early bird says to mix a metophor)
SD

Amities / lf you wish to attain a discounted position in SEY whilst enjoying exposure to DES try casting an eye over WTE who own 77.5 million SEY shares in consideration for their Fusion assets in the Gulf and 5.5 million DES looking in north Falklands as opposed to FOGL who are looking over the South .ln addition they also have a 15% stake in the "ormonde project" which has been recently been approved by the DTI and licensed to a company called Eclipse but is financed by American giants - General Electric;and via wind turbines attatched to the National grid is expected to light and heat every home in the counties of both Cumbria and Lancs by 2010. .l freely admit i have a 75,000 holding .But as i say it is a discounted way into a number of lucrative projects inc SEY and DES whose holding alone equate to WTE 's s/p;Furthermore with only 13 million shares in issue it s/p tends to exxagerate the movements of either SEY or DES . a/b ,,,,,,bonne chance @+ J

TFC - thanks, very intriguing idea. I shall investigate.

SD

Very high volume in excess of 20 million changing hands today.So obviously a little birdie knows something what with with two buys of seven million and another in excess of four milion. .PMO have an interest in the Gabon with Sasoil as operator in the Dussafo . ln addition in a operational review PMO said several prospects on the acreage had been identified and were in a stage of development. Fusion sold other shallow offshore projects to PMO not so long ago in te Gabon.Upon investigation it seems a few Europeon oil midcaps have interest in this area ,,,,,@+ J

Very high volume in excess of 20 million changing hands today.So obviously a little birdie knows something what with with two buys of seven million and another in excess of four milion. .PMO have an interest in the Gabon with Sasoil as operator in the Dussafo . ln addition in a operational review PMO said several prospects on the acreage had been identified and were in a stage of development. Fusion sold other shallow offshore projects to PMO not so long ago in te Gabon.Upon investigation it seems a few Europeon oil midcaps have interest in this area ,,,,,@+ J

TFC - on Digital Look there were two trades of 4m - one protected sell and one buy; a 7.15m sell and a 10m protected sell - are you saying these were all buys, in fact??

I took it as quite positive that thhe MMs were inviting such volume of stock onto their books whilst the SP remained constant. I guess if they are all buys then this is positive too, but why didn't the SP rise?

Not sure how to read the runes on this one. There seem to be be very few active in this SP, but I imagine they are specialistsw and therefore knowledgeable. Are we jsut seeing a re-positioning amongst institutions or a genuine market movement do you think?

See WTE took a nice bounce 15% 2 days after your mention. Soon break out above the last resistance high. I'm not in - no spare funds, sadly, but it is a good geared play as you say.

SD

As always, have enjoyed reading the posts on this BB and now taking an interest in FAO; but can anyone answer a couple of queries.
1. With so much potential in this co. why were there massive sales of share options by directors in mid-October.
2. FAO came up on my radar as a recovery stock at the same time as CLY and looking at the charts it appears they both hitched a ride on the same roller coaster in July-August 04. I can find no connection whatever between the cos. yet the similarity in the charts is remarkable. Any suggestions?
sd.

FAO is a completely different company since its suspension on 21st December at 7.87. The sells by directors in October werre to do with exiting from the old Hansard business which had failed to turn itself into a public relations company when one of the key directors promise of new funds failed to turn up on the day. It stopped doing what it was trying to do and with 6m on the BS it was a dead shell looking for a new oyster to make pearls with.

It's new life as an oil explorer effectively started at the EGM on 7th Feb when a reverse takeover of Energem oil interests in W. Africa was approved. Nothing before that date is now relevant to the future prospects of this company.

The constant high volume of large trades whilst the price stays around the 10.5 mark suggests repositioning by institutions with long-term intentions, amongst whom RAB Capital who are very active in early stage exploration companies.

I have no idea when the first prospect for drilling will actually be identified and resources committed to it, but it will probably need fresh capital via a placing or two at that stage. Read the RNS of 14th January for full details.

Until then I have it as a sleeper rsting on the feather bed of high oil prices.

SD

StK9: Many thanks for the info and I like the analogy to the feather bed, at least I did until I read again your original post to find that we might be sharing it with a lion.
sd.

Well, having made your feather bed you'll now have to lion it!

Caught this intriguining little RNS before breakfast today and the trading has been pure blue bar one with a 15% rise since opening time.


FirstAfrica Oil PLC
31 March 2005


TSX: ENM AIM: FAO For immediate release



ENERGEM RESOURCES INC. AND FIRSTAFRICA OIL PLC -



JOINT PRESS RELEASE - SIGNIFICANT TRANSACTION NEGOTIATIONS



CAUTIONARY ANNOUNCEMENT



Vancouver, Canada and London, United Kingdom, March 31st, 2005 - Energem
Resources Inc (TSX:ENM) ("Energem") and its controlled subsidiary FirstAfrica
Oil plc (AIM: FAO)("FirstAfrica") (jointly "the Companies") advise that they are
jointly engaged in negotiations with an unrelated third party of substance (the
"Purchaser") relating to the potential acquisition of a significant interest in
the upstream oil assets of the Companies by the Purchaser and the joint future
exploration and development of the assets and pursuit of other up-stream oil
assets in Africa.



If successfully concluded, this will have a material effect upon both Companies.



The negotiations are not likely to result in any disposal of or fresh issuance
of shares in either of the Companies.



Shareholders in both Energem and FirstAfrica are therefore advised to exercise
caution in dealing in their shares until further information is provided.


I can't imagine they mean cautionary in the sense it's bad for the company, so I expect further rises in the SP when all is revealed. I'm well tucked in there at tenpence halfpenny, so moved into profit this morning, long may it last.

SD

im in too today, profit already... Looking good, cant quite believe RNS its saying theres profit to be made in this company...

I have waded in too - there is lots of oil in west Africa !!!!
Come on lets make some money...

There are a lot of majors and mini-majors with interests there - Shell - Premiere etc I believe.

Geologically it's basically an extension onshore of Chinguetti/SEY etc. Looking at the constant large trades in FAO since it relisted on 8th Feb, whilst the price stayed pretty constant, there has to be a lot bubbling away under the surface which will emerge soon it now looks like.

SD

think it might be sey they are refering too