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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: Crossy who wrote (8662)	3/31/2005 2:02:45 PM
From: Crossy	Read Replies (1) \| Respond to of 37387

re: ENM.TO - Energem Corporation C$3.50 - NEW PICK There are 155m shares FD out. Marketcap is now US$430m ENM.TO owns 51% of First African Oil plc (FAO.L) GBP 12.00, an emerging AIM (UK) listed African upstream company with interests in Namibia, Angola, Chad, Congo, Gabon etc.. ENERGEM Corp - South African based Oil upstream, petroleum Midstream, Diamond mining, trading, logistics, ethanol production across Africa this is an upcoming pan-African powerhouse.. already profitable from Diamond mining concesssions and midstream oil. Owns 51% of AIM listed "First African Oil plc" (FAO.L) finance.yahoo.com energem.com firstafricaoil.com Wel I regarded ENM.TO as a nice, safe investment, good for the long haul, less risky ... so I bought in.. Certainly, ENM.TO is the way to invest into FAO.L.. so much cheaper.. the 51% holding of FAO.L is alone worth $3 at least in ENM.TO share price, if not more - essentially you get the rest for free. I like such deals. I still was wrong with my appraisal of the company: ysterday a "strategic transaction" was announced.. and the share price goes thru the roof ! another tidbit: on the BOD of both companies is a member of the ruling family of Dubai: Hasher Maktoum Juma Al Maktoum stockhouse.ca Energem Resources Inc. and FirstAfrica Oil plc - Joint press release - Significant transaction negotiations cautionary announcement 3/30/2005 TSX: ENM AIM: FAO VANCOUVER, BC and LONDON, United Kingdom, Mar 30, 2005 (Canada NewsWire via COMTEX) -- 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. This news release contains forward-looking statements which address future events and conditions which are subject to various risks and uncertainties. The actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the costs and availability of fuel products; fluctuations in fuel product sale prices; currency fluctuations; changes in production costs; fluctuation in shipping costs; availability of shipping; general market and industry conditions; political and regulatory instability and risks associated with rights to title and ownership of fuel products. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. In respect of Energem Resources Inc., it is a natural resources company listed on the Toronto Stock Exchange with projects in the energy and mining sectors in a number of African countries. Energem is committed to developing niche high margin natural resource projects in Africa and is currently active in 12 countries. Ventures encompass diamond mining and mineral exploration, mid- and up-stream oil and gas projects, energy and mining related manufacturing, trading and trade finance businesses operating off a common logistics platform and infrastructure. The company has offices and/or logistics and support infrastructure in Johannesburg, London, Beijing and a number of African countries and it holds a 51% controlling interest in FirstAfrica Oil plc, a company listed on the AIM market in London. %SEDAR: 00002462E VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: newswire.ca For further information: Rob Rainey in Johannesburg at telephone+27 11-454-3099, Fax +27 11 454 1673 or email: info(at)energem.com, Refer ourwebsite: www.energem.com; The F.I.R.M. in Toronto at telephone (905) 681-9199,Fax (905) 681-2711, jjobin(at)focusedir.com, lchapman(at)focusedir.com News release via Canada NewsWire, Vancouver 604-669-7764 Copyright (C) 2005 CNW, All rights reserved