Member Info for ihavenoclue

I feel this one may go back down to the 0.17p area it was at 2 weeks ago if there is no news. If it does i will average down. If news comes out and it is good i expect it to be upwards of 0.3p Will have to see - if no news then it will just float back down to the 0.17p area and stay there.

Are we looking at the same share here ? You said that CB bought some shares in May for 35.75p and his buying more is " another strong buying signal " ? Since he bought those they have done nothing but drop, down to 20p bottom recently, i would say that if him buying causes that to happen then it is a strong SELLING signal for the next 3 months.

You say the interview says there will be lots of good news soon. That interview was in June. Apart from the fact that the chairmain mentions that ERX is significantly undervalued, what chairman would say thier company is overvalued ?, i feel this company has a LOT of promise for the long term. I bought in a few weeks ago and i am enjoying this progressive rise rather than the leap in July. Good luck all holders.

I also agree the termination of the Chad agreement is the best thing to happen to this share this year - even better than the placing news. The market may not agree but Chad was a HUGE stumbling block which FAO did NOT need. FAO will do just fine to put 100% of its efforts to acheiving it's goal of first oil Q1 2007. That is why i have a large percentage of my portfolio in FAO and, despite some misgivings of exactly whos best interests FAO management may have at times, i still remain confident they will acheive thier goal and the SP will be a LOT healthier next year. My only regret is that i bought in so high and have no spare cash to average down at these levels. The lower FAO SP has gone this year the MORE confident i have become in them. This is all in my own opinion and good luck to all holders of FAO.

This stock market has gone from a bustling place to a scary place in a matter of months. Do people feel this is a short term thing that will right itself in a few months or is the gloom and apparent dampened enthusiasum in the stock market here for a long time ? I know basic principles of the stock market always seem to hold true such as buy when the market is low and sell when the market is high ... so for now i hold all the shares i have bought with no though to sell ANY shares i own till later in the year at the earliest nov/dec. What do others feel about current circumstances ?

This one remains a speculative buy. IF a deal goes ahead and IF they are good terms HML will soar from here. IF a deal does not happen it will quickly drop to sub 1p. This is only for the brave and in the current market ... i have no bravery left LOL

New trainers ?

I can't say for the other shares but i feel that CHP is a VERY good long term share. Need to hold for at least 2 years to get a good return though i feel. I bought BLR in early June and sold 2 weeks later at a decent profit. May buy back in soon ... still thinking about it.

How are you doing ? Life treating you well ?

Up 13.4% in 2 days ... is this one being allowed to rise ? There were some large blocks of buys the other day and i feel that was the institutions topping up .. since then FAO has gone from 3.05 to 3.46p A reasonable write up on oilbarrel may have also helped but i feel the institutions have had thier fill and are now allowing it to rise. This share, in my own opinion, should not have dropped below 3.5p after placing and great EVO 6 and 4 news. But now there is a decent rise hopefully it will be allowed to continue. May be a few hiccups along the way but i feel FAO are on thier way to a promising future. Buy for long term.

This could be a very strong buying op. for the brave. I bought in at these levels two months ago and made a tidy profit. I think the market is being unkind to BLR but that is just the way things go at times. Do your own research but at these levels the reward outwieghs the risk.

Energem, the company that gave birth to FAO to highlight its oil assets, has currently rose 20% on the Canadian stock market. Tomorrow will be interesting to see if FAO follows suit and has a decent rise. If it does then, even though Energem has lost it's controlling interest in FAO, it still has a very strong hold over it and it will explain why the price has currently been held down. If FAO does not rise tomorrow then either the recent share dilutions or the Chad deal will be to blame. If the later is the case then why is buying Chad so important to the market when FAO already has the very nice EVO field ? Surely getting the EVO field up and running and becoming cash positive first before buying any more assets is preferable to buying more assets now and putting further strain and dilution on an already large number of shares. EVO production FIRST and THEN look around for more assets. All in my own opinion.

I am not angry with anyone on this site. This is a share site and not fight club :-)

I have mentioned that i have no idea of the short term of this share as it surprised me after they got a second drilling report that exceeded expectation and it did nothing to the SP. The only thing i would guess at is that it will not go below 3p. I feel the real move of this share will be next year when production starts and especially when the first income starts rolling in 3 - 4 months later. The market seem to think that the Chad deal not going through so far is a bad thing, i think that in the current climate paying $65 million for an oil prospect is NOT the best of ideas and won't help but i could be wrong. Currently FAO have approx. 2.6 billion shares which will be 3.2 billion if the Chad deal does go through so any potential will be diluted. But what do you feel would be the market price of a company that will be producing 7,000 bopd from the first 2 wells and maybe double that figure when the other two have been drilled ?

MY followers here ? I think you may be going mad. Attacking yourself on the FAO board for another loss ??? Yes these buy at 24p .... great advice... wow your FOLLOWERS must really be pleased with you. GedW, don't accuse me of doing what you are doing. You ramp up shares and lose people money and then slam shares you don't like as worthless with no reasoning behind it. YOU are the one who spreads paranoia - i only feel sorry for the people who listen to you.

GedW ... you accused me of making loses with " my followers at CAN " when i have never been to the CAN board or ever owned CAN shares. What you did when you made the comment that these shares are " worthless " without any explaination was deramping. You tried to spread panic with YOUR useless comments and nearly caused people to sell at a loss. When you do things like that then YES i am going to bring up your track record on shares to show people you have put worry in that you are not always right. But what the hell you are going on about CAN for is anybodies guess. I have said before i do not mind constructive comments either way but just saying " this share is worthless " is NOT construtive and not required.

Who are you talking about Ged ? if you are talking to me i have no idea about CAN and have never had anything to do with that share.

FAO. yes Mr Hall got really "lucky" when his shares were "accidentally" sold last year but the first thing he did when he found out was to put it straight back into FAO which shows he has faith in FAO. The other guy, can't remember his name due to his TINY buy, bought only 50,000 shares at a price of £1,600. Now i am not slamming small holders as i have built my holding up to 370,000 and to some that is still small. But as a director to only buy £1,600 of the company sends out a very weak signal. Mostly sells today but the price only dropped a little and with all those shares joining the market as well. FAO seemed to have a bottom of 3p even when there was talk of it going bust so i am hoping this will be the bottom now. If the Chad deal goes ahead i have no idea how this will be seen, oilbarrel seem to think the market are against FAO as it could not close the sale where as i wonder if Chad is really worth it. FAO should publish more information on Chad to prove that it is at least worth the sale price.

That exactly is my point. I did not find the comment " FAO is worthless " in the least bit constructive. I am all for hearing both sides of a story but at least you could have mentioned a basis for your remarks. Anyhow, my stance on FAO remains the same and that is that it is a LONG term investment. I will be the first to admit that i can never seem to buy in shares when they are at the bottom but my average in FAO has dropped from 4.6p to 3.5p and that is where it will be staying. Yes there are a lot of shares coming to the market and FAO have not exactly done a good job of that so far. I am not sure why they keep posting Loan Note conversions every other day as it sure isn't helping. Even though the SP is dropping slightly the market cap is rising. I have no real idea of the short term trend of this share and there may well be good chances to buy. Maybe even short ones where it dips under 3p but i am sure it is a good investment.

Yes there is an option outstanding to buy Energem's Chad prospects, and although it looks like it will cost FAO $65 million in shares, the valuations for the prospects are between $ 60 and $200 million with any production quite a way off. I am not sure the Chad deal is the right idea at this time but according to oilbarrel.com the market seems to think the Chad deal is a good thing. Yes there will be around 3.2 billion shares in circulation and at current prices that puts a market cap of just under £100 million. But FAO had a market capital of £50 million while there were worries it would go bust. It has assets of £84 million, cash of £23.5 million and it's debt of £16.6 million has now been converted to shares. FAO may not have done things 100% correctly but at the end of July they should have a firm base to move forward ready for first oil production in under 6 months. I could not tell anyone the right time to buy to get the best price but as far as i am concerned these shares will be well above this value around March - April time next year when income from oil starts coming in.