Member Info for ihavenoclue

Is that a good thing ???

The SP of FAO is 3.12p and not 3.00p It has a BID price of 3.08 and an offer of 3.15p so it has those figures right. Seems the software they use is very second rate.

FAO. gedW ... you have not answered any of my questions so here is another Why would a Director of FAO buy shares in FAO if they are " worthless " ? Yes he had a portion of his sold in June last year but if he felt FAO was worthless he would not have put that money straight back into it. A lot of people listen to you but they way you just put FAO down as worthless was very weak of you. To be honest i expected more of you. You are welcome to your opinion but you have not given any reasons as to WHY you feel FAO is worthless. So i merely pointed out that you are not always right and have dropped one or two clangers in your time. To be honest i hope, and i am pretty sure, you are wrong about FAO. But only time will tell. Can i please have CONSTRUCTIVE comments next time and not destructive ones without any basis.

28 June 2006 FirstAfrica Oil plc ("FirstAfrica" or the "Company") Director's Dealing FirstAfrica was informed today that Gordon Hall, a non-executive of the Company, has today purchased 848,227 ordinary shares of 0.1p in the Company ("Ordinary Shares"). Following this purchase Mr Hall now holds 2,028,798 Ordinary Shares, representing 0.086 per cent. of the Company's existing ordinary share capital.

GedW ... perhaps you would like to tell me, using actual facts and figures, exactly how you come to the conclusion that FAO is worthless ? Just saying it is dead and feeling sorry for people who have lost money (feel sorry for people who bought LEG shares more than people who bought FAO shares). I would also like explained to me how Merrill Lynch, Capital Group and Brown Brothers Harriman (the oldest and largest partnership bank in America) bothered to buy hundreds of millions of shares in a company that you say is "worthless" I await your reply :-)

But there is a correction. The last time GedW put these down as a buy of any kind, and it was down as a strong buy, it was the 07th April. The SP was 0.16p and the buy price was 0.20p. The bid on LEG is now 0.05p So let's pic the 7th April as the guide and see where both companies SP's are on the 7th April 2007. As GedW says that FAO is worthless it will be good to see just how worthless it is after been in production 3 months and the first income from the oil will be coming in - i am sure it will be good times for FAO. Now what about LEG ... and it's 75% so far, remember it is a STRONG BUY and is in no way " worthless" ... a guess of 0.03p for the SP and an offer price of 0.01p ? NB Please note that the above future valutations are only estimates and share prices may go up or down (as in LEG's case a very long way down).

FAO. To buy at levels below what merrill lynch and capital group paid for them makes them a very good long term buy at the moment. I also agree about the price not doing much for the time being ... probably bounce between 3.0 - 3.5p for a few months more but there is more EVO news due in the next month.

FAO :- I first bought in March but only small amounts and kept an eye on it. FAO may not have done things 100% smoothly but they are in a very good position. I now average 3.45p and i am happy told hold for the long term. trying ... the first thing the stock market teaches you is patience. If something is junk it may not be so in 6 - 12 months. You have to see if a share is a short, mid or long term investment. FAO is a long term investment - the type you put in a drawer and pull them out next year and have a look at them. What price did you pay for your FAO share ? FAO is not going bust and they have the very exciting EVO project that will be producing oil in very good amounts in 6 months. For an AIM Oil Junior that is VERY good news. Through all the crap FAO have remained on thier target of producing first oil late 06/early 07 (read all the reports when you do a News Search on First Africa). On the last one it mentions the following :- "The City, it seems, will continue to distract attention from Gabon in the months to come..." Once the city items have been dealt with then they will then realise the potential of the Gabon asset. As i have said before, current climate is volatile but long term prospects look very good. Hold your nerve.

There are times in some shares where a lot of doom and gloom hangs around them and you can either let it affect you and sell or hold and see. I held shares in QXL and after consolidation of shares they had a value of under £1 a share. The market called them JUNK and it was all doom and gloom so i sold at 91p a share. Earlier this year they hit £160 a share and are now trading at just under £100 a share. FAO are NOT going bust and that is a lot of the reason and worry that caused it to go down to the 3p level where i bought most of my shares. Just as someone says they are worthless does not make them so. I am not worried about doom and gloom as i know that is not always a bad thing. As i have said before i intend to hold. The Market makers are currently playing games with FAS share price as there is still uncertainty about the Chad deal going through and some further funding. As far as i am concered FAO has huge potential, all be it diluted by shares, in the EVO field. And what better base for an oil junior to start off from than an oil field that will be producing large amounts of good quality oil ? So do your research and sell if you want but you may be kicking yourself later - it is up to you.

FAO. You saying FAO was a waste of money and being apologetic to all the people who seems to have been " sucked in 2 to the hype and lost money. FAO is NOT going bust and it not dying. In Fact, if you bothered to do your research, FAO is actually just starting. It has 2 weels already that will easily give a flow of 7,000 bopd with 2 more wells. The current Chad investment and oil market is holding this back and letting the market see the true value of Chad ... large institutions would not have bought in at 3.25p to lose money and i am not about to lose money either. As i have said before this is an excellent long term investment and you need to invest for at LEAST 6 - 8 months. The point about LEG is you have been wrong badly at least once so i am not going to bother about you slamming FAO without seeing the full picture. Anyone buying LEG at 0.20p when you said they were a STRONG BUY on 8th April 2006 would now be able to sell them at 0.05p. That is a 75% loss on your STRONG BUY where as i am currently running at a 10% loss on my FAO - i know which i would rather have followed. Anyone wanting in to FAO should take advantage of the current volatility and buy in at under 3.3p and hold. Do your research and look at the drilling reports. The current price should be a distant memory early - middle next year.

But in April you put LEG down as a BUY ... anyone who bought into that would now be looking into around a 50% loss and there are others of your tips that have done badly. I am not saying i am 100% right about what will happen to FAO but it is in a completely different boat than in was in 1 - 2 months ago and i feel it is a good long term investment. Certainly better than LEG.

This share has not died and FAO has NOT gone bust so what are you apologising for ? In January next year FAO will be producing over 10,000 bopd from the EVO field. So i am holding for the long term and we will see where the SP is then.

riskypete ????? So you think that after raising $45 million they will be unable to fund the extra $8 million late 06 to act as a bridging loan while they produce 12 - 15k barrels of oil a day ????? Your post was very strange and kinda argued with itself. FAO is being held back due to uncertainty over the Chad deal and the extra shares that will entail. They have enough cash to get to the beginning of production on the EVO field that has " exceeded all expectations " and just need a loan while they wait a few months next year for the first income to come in from the oil - what bank would turn down an $8 million bridging loan to a company producing between $700,000 to $1 million of oil a DAY ??? ( on current prices) Ok if Chad goes through they will need to raise more but FAO has what a lot of AIM oil companies don't have ... actual oil !!!! As i have said before, buy only if you are willing to hold for at LEAST 6 - 8 months for a good return on your investment. If you don't have the patience then sell. I know i am holding and if i had more money i would top up at these levels for sure.

If you don't know WHY this is rising then there can be no reason why it can't do the opposite just as fast. It's a very bear market at the moment yet this is rocketing .. very nice if you were in at 200p area but how long can such a HUGE rise be sustained ?

A ten-bagger is a share that will make you 10 times more than what you put into it ... for example .. you buy at 10p a share and sell at 100p a share.

When is this bubble going to pop ? This rise is crazy !!

Not a nuisance at all, trying. In my opinion i feel these are a VERY good long term share and to get a good return you need to leave them in at LEAST 8 to 9 months - to give it a few months after production starts and around the time of first income from the oil. I am not going to second guess how this will do in the short term but i feel buying under 3.5p is a very good deal and you should be able to get that price early on, if not for the whole day, depending on how the market takes the news on the institutions that have bought into FAO. Like i said all in my own opinion and please do your own research first. www.oilbarrel.com and www.rigzone.com are 2 good places to start from .... Hope what i have said is of some use to you. Good luck in your share dealing ... especially if you buy into FAO ;-)

trying ... FAO did say the funding was made up of new and existing shareholders and that is exactly what happened. Merrill Lynch "topped up" so they still control just under 7% of FAO but Capital increased thier holding from 8% to 10.5% - which adds up to more than doubling thier share holding ... they are showing a LOT of faith in FAO but i can see why. The other large name that appears is Brown Brothers Harriman which are the oldest and largest partnership bank in America - so a very strong impressive bed fellow for FAO to have. riskypete, it certainly is shaping up very nicely and FAO PR department are suddenly going into overdrive. Exciting times to be a holder of FAO and i took advantage on lack of interest to the excellent drilling news this morning by topping up my holding !!

It was hardly what i call upbeat and the market seems to have turned its back on FAO at the moment. With news that they now have two wells that will be producing 7,000 bopd by early 07, and with two wells left to drill (one to re-enter and one to drill), the market will take another look at FAO sooner or later. Like i said before this is a very good long term hold and the news today just strengthened that position.

Did you buy any of these earlier this year, acquisitor ?