Financial Dev Share Discussion Threads

[philou100] 25/1/2005 19:29

Doba field: A software on Doba (1999):

[pomp circumstance] 25/1/2005 15:41

could some one/group, have wanted to buy the company thats been reveresed in and not been able to, so trying to take a position before the price goes up to much?

[dr knowledge] 25/1/2005 15:17

"Financial Development Corporation plc was informed today that Man Financial
Limited has an interest in 24,870,000 ordinary shares in FDC. This represents
approximately 6.88 per cent. of the issued share capital of the Company."

Yet another one!!!!! Weird or what!

[pomp circumstance] 25/1/2005 08:49

WOOOOOOOOOOOHOOOOOOOOOOOOOOOOOOOOOOOOOO


BREAK
OUT

[dr knowledge] 24/1/2005 18:24

Another 27m traded today......................staggering!

[terry91] 21/1/2005 13:35

L2 was 1 bid 2 offer now 2 v 2 get ready for another tick up with volume.

[pomp circumstance] 21/1/2005 11:28

so was having lunch with Jean-Bedel Bokassa!!!

[morphy101] 21/1/2005 10:04

Also in IC. Talking about name change etc. Saying that the First Africa board are experienced and saying the stock is very attractive to Risktakers..

[pomp circumstance] 21/1/2005 10:00

Geoff Foster's column in the Mail.

"More than 26m Financial Development Corporation were traded and the close was 1 1/2 p better at 11 5/8p. It will soon reinvent itself as FirstAfrica following the reverse takeover of GGPC Gabon, owner of oil licences in 3 countries. Rumours suggest that FDC's founder Adam Reynolds will soon be floating a new South African minerals company on AIM"

[terry91] 21/1/2005 09:49

loverly volume great l2 3 bid 1 offer

[pomp circumstance] 20/1/2005 14:36

Weeerr -hoooooooooooooooooooooooooooooooo!!

[susier] 20/1/2005 11:30

Same pattern today - keep thinking this company is going to pull another rabbit out of the hat.

[morphy101] 20/1/2005 07:33

Latest one I can get..

Current Holders

Holder Holding Change %age Disclosed Previous
--------------------------------------------------------------------------------
GARTMORE INVESTMENT MANAGEMENT P.L
.C. 60.03m +8.33m 16.61 14/10/2004 08/09/2004
ARTEMIS INVESTMENT MANAGEMENT LTD. 18.83m +18.83m 5.21 10/12/2004
UBS GLOBAL ASSET MANAGEMENT (UK) L
TD. 17.88m +17.88m 4.95 29/10/2004
CANTOR FITZGERALD EUROPE 14.87m +14.87m 4.12 18/01/2005
REYNOLDS, ADAM 13.50m +13.50m 3.74 15/10/2004
CANADA LIFE MARKETING GROUP 12.33m +12.33m 3.41 15/10/2004
HIRSCH, GLYN VINCENT 11.00m +0 3.04 26/04/2004 28/02/2003
NOMIHOLD SECURITIES INC 11.00m +0 3.04 26/04/2004 28/02/2003
BAILEY PAUL KIMBALL 7.17m +0 1.99 26/04/2004 28/02/2003
NCL SMITH & WILLIAMSON 5.85m +5.85m 1.62 03/02/2004
CAPLIN ANTHONY 3.80m +3.80m 1.05 15/10/2004
WILSON ADAM 3.00m -1.00m 0.83 03/02/2004 24/11/2003
FOULGER PAUL 2.50m +2.50m 0.69 15/10/2004
SP INVESTMEMTS LIMITED 2.18m +2.18m 0.60 09/08/2004
WILLIAMS D J 2.00m +2.00m 0.55 30/06/2003
NEEDHAM, RICHARD 2.00m +2.00m 0.55 22/09/2004
M C LEISURE LIMITED 180,000 -1.62m 0.05 24/11/2004 12/05/2004
HSBC ASSET MANAGEMENT (EUROPE) LIM
ITED 126,628 +126,628 0.04 24/11/2004
UNION BANCAIRE PRIVEE 50,000 +50,000 0.01 24/11/2004
RAYMOND JAMES & ASSOCIATES, INC. 50,000 +50,000 0.01 24/11/2004
--------------------------------------------------------------------------------
Total Shares in Issue 361,365,823

[pomp circumstance] 19/1/2005 19:02

massive volumes today and the price rising late on, should see some sort of RNS tomorrow i would think.
Anyone got a %age ownerships list for various parties?

[pomp circumstance] 19/1/2005 15:33

or maybe that 2mil was this afternoons RNS for MS?!!

[pomp circumstance] 19/1/2005 15:32

Just about to take off.
Expect to see another RNS soon
Another 2mil maybe for Cantors?

24,"203VGB6E05","9.75","2000000","T"," ","L","9.5","10.5","11:37:45"," "," ","2,000,000","0|3|97"," ","270,995","7,725,676"

[terry91] 19/1/2005 13:30

What gives with this massive volume guys 3 bid 1 offer and blue?

[pomp circumstance] 18/1/2005 10:00

Most of the shareholders are probably doing time!!!

[duden1] 17/1/2005 16:02

Would have expected more interest in this share by now!

[pomp circumstance] 17/1/2005 14:00

of course there will be!

[paddyfool] 17/1/2005 13:37

looks like a big rights issue in the offing!

[sealed] 17/1/2005 11:11

17.01.2005
FirstAfrica Oil Targets AIM To Win Value For Its Gabon Assets
Another oil and gas start-up is set to join London's Alternative Investment Market with the news that cash shell Financial Development Corp plc is set to acquire GGPC Gabon, a subsidiary of Toronto Stock Exchange-listed energy and mining outfit Energem Resources Inc, in a reverse takeover deal worth about £75 million. The new company will be called FirstAfrica Oil plc, reflecting its focus on the oil and gas riches of the continent.

AIM, of course, is used to Africa-focused start-ups. BowLeven plc, with its plans for a gas-to-electricity project in Cameroon, joined the exchange just last month and in recent years a number of companies with African-biased portfolios, among them Fusion Oil and Energy Africa, have been snapped up by larger players looking to up their exploration exposure. Whether FirstAfrica's portfolio of West and Central African assets will prove equally tempting remains to be seen.

The company plans to engage in marginal oil developments and exploration work. The start-up asset base includes the offshore EOV Permit Area and the onshore Epaemeno exploration block, both in Gabon. The company also holds options to exploration acreage in Chad and Congo Brazzaville.

"We [Energem] realized we weren't getting the full value for the GGPC assets and it made sense to hive them off into an upstream vehicle," explained Mike Jones, Energem's chief operating officer for oil projects and the new chief executive of FirstAfrica Oil, speaking to oilbarrel.com from Johannesburg in South Africa. "This allows us to raise capital to move these assets forward in an environment that recognizes the industry and the expertise."

There will be an EGM for shareholders on February 7 with the shares set to start trading on AIM the following day. Following the completion of the deal, FirstAfrica will have cash resources of £5.9 million and a second fundraising is anticipated in the second quarter.

"Since we acquired the assets early last year we have been funding development studies and analysis of the offshore Gabon asset," said Jones. "We've completed a conceptual engineering study and we are looking to draw up a capital budget and crystallize our plans as a priority."

Energem acquired the rights to the 105 sq km shallow water EOV permit area in February 2004. This includes a discovery some six miles offshore on the southern limit of the proven and prolific Ogooue Delta oil province. Formerly held by Marathon, the asset has been covered by 3D seismic and seen the drilling of three wells, two of which remain suspended. Jones said the 3P reserve case for the EOV discovery stands at 19 million barrels and the initial spend will involve the drilling of an appraisal well. Three undrilled prospects lie within a 10 km radius of the deposit.

The company also holds rights to the Epaemeno exploration block, which covers 1,339 sq km to the southwest of the town of Lamberene. The acreage used to belong to Elf Gabon and prospects have been identified on the French company's old 2D data.

At the back of last year, Energem signed up to explore a large tranche of acreage that used to belong to ExxonMobil in land-locked Chad. The Chari-Ouest concession area lies in the centre of the Doba Basin adjacent to the US oil giant's production complex, which includes access to an export pipeline to the coast. FirstAfrica Oil has an option to acquire the Chad project from Energem. The Congo Option relates to the rights held by Energem to the shallow water Marine XI Block in Congo Brazzaville. Jones said the company is also eying projects in Mauritania and Angola and, under the terms of a two-year service agreement, it also has the right of first refusal on any upstream projects picked up by Energem.

This service agreement transfers expertise and practical logistical and technical support to the start-up while it develops its African business. Jones, for example, joins First Africa full-time with Brian Menell (acting as chairman) and Robert Rainey (chief financial officer) joining part-time. In return, FirstAfrica will pay Energem fixed fees of US$250,000 per month in the first year and US$125,000 in the second year.

Jones, 55, built his career with Marathon, most recently as the oil major's general manager for sub-Saharan Africa. Brain Menell, 39, the executive chairman of Energem with a background in mining, will be FirstAfrica Oil's executive chairman, and the new CFO will be Robert Rainey, 53, who has worked extensively in the mining, resources and property industries.

Jones said investment road shows in London have provoked a reassuring response.

"The story's been received very positively," said Jones, who plans to move to London.

"We have the expertise, we've been in the industry a long time and we have the relationships in Africa, from high level government contacts to people on the ground, to make it work."

[duden1] 14/1/2005 13:59

I'd almost given up on this share. Seems like a fashinable sector to be in.
There's a lot to take in now!
Must read the above articles!