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thanks, I did see that.

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Annual and Transition Report (foreign Private Issuer) (20-f) "Edgar (US Regulatory)" - 4/29/2014 6:43:39 AM
styl   Sunday, 02/26/12 11:13:04 PM
Re: kentcrek post# 5439
Post # of 7435 
thanks, I did see that.

My question is...........

does that mean if philex petro gets a contract that it will be done with fep doing the subcontracted work and getting some of that revenue? or is it considered seperate, as just a holding company and not really a dept. in the company that would handle that.

My assumption is that Fep would not benefit from it at all, unless they themselves bid on the contract. They are not a driller....i view them more of a middle man finance company focusing on oil contracts.

I see fep in philex petro the same way i would compare fep's association with fecof,,,,strictly a holding.

if fep makes money, fecofs equity goes up too.........but if Philex's revenues go up it has no correlation or effect on fecofs equity or profits.................although the opposite is true if you reverse the sentence......if fep and fecof makes money than philex/parent company will benefit.

anyway, maybe there is a possibility that they mean FEP afterall, when they talk about the contractual side of philex petro bidding, but the wording in it doesnt make it so. they should be more clear and say a subdivision , FEP , will be bidding...........otherwise its likely to be seperate.

I am not claiming to know for sure what they mean, but the way they state it leaves FEP out of it ..............for now.

glta



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