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FEC Resources Inc. (FECOF)

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Last Post: 6/21/2017 10:34:19 PM - Followers: 82 - Board type: Free - Posts Today: 0

FEC Resources Inc. (“FEC” or the “Company”) was incorporated under the laws of Alberta, Canada and is
engaged primarily in the business of exploration and development of oil and gas and other mineral related
opportunities, either directly or indirectly through companies in which the Company invests.

 
Major Shareholders
Philex Petroleum Corporation 225,000,000 51.24%
CDS&Co 49,975,291 11.38%
CEDE & Co 38,783,960 8.83%
Asian Coast International 67,740,000 15.42%
Indexa Corp 30,000,000 6.83%  
 
O/S: 439,143,765
FLOAT: 27,644,514


The principal investment of FEC is a 24.05% stake in the UK company Forum Energy Plc (Forum) who are listed on the AIM market of the London stock exchange.
 
Forum Energy’s holdings
·         70% interest in Service Contract 72 (SC 72), an offshore license which contains the Sampaguita Gas Field as well as several additional oil and gas leads;
·         66.7% interest in SC 40 (Cebu), a service contract which contains the onshore Libertad Gas Field and Maya discovery and several other prospects
·         100% interest in Forum Energy Philippines Corporation, a company with varying interests in nine (9) offshore fields west of the Philippines including a 2.27% interest in the producing Galoc Field.
 
Forum’s principal asset is a 70% interest in the SC 72/GSEC101 offshore license located to the north west of the Philippine island of Palawan. The area is some 10,360 Km2 and contains the Sampaguita gas discovery which has expected gas in place of 3.4TCF and potential upside to 20 TCF (“Trillion Cubic Feet”). Potential unrisked reserve estimates for the seven prospects and three discoveries within the licenses initially acquired by Forum total some 900 mmbbls of oil equivalent or 5.5 TCF.
 
·Forum was planning the execution of the second sub-phase work program at SC72 which was expected to involve the drilling of up to two wells before August 14, 2013.
·On January 25, 2013 Forum announced that it was granted an extension until August 14, 2015 to complete the second sub-phase of SC72.

In addition Forum has a 2.27% interest in the producing Galoc field and a majority interest in Service Contract 40 which covers areas both on and offshore Cebu Island.
Latest news on Galoc flow rates!
NEW FLOW RATES FROM GALOC 5H WELL
12000BOPD x $100.00= $1200000.00 - 1.2 million x 365 days = 438 million dollars per year. 2% of which, is $8.7MIL.
Galoc 6H well will give us about another 6,000 a day barrels of oil for Forum/FECOF, that’s another $4.3MIL
$12 Million in revenues yearly!
 
The initial oil deliverability potential from Galoc-5H under
normal field operating conditions is expected to be between
8,000 and 12,000 bopd
The initial oil deliverability potential from Galoc-6H under
normal field operating conditions is expected to be between
4,000 and 6,000 bopd
http://www.ottoenergy.com/IRM/Company/ShowPage.aspx/PDFs/1987-50630452/Galoc5HWellSuccessfullyTested
http://ndo.live.irmau.com/IRM/Company/ShowPage.aspx/PDFs/1913-66609727/Galoc6HWellSuccessfullyTested
 
Latest News within the last few weeks!  Things are finally coming together quickly! We may hear news of a partnership and moving forward on SC 72 by the end of the year!
London-listed Forum Energy Plc, a unit of Philex, is holding talks with CNOOC, the Hong Kong-listed unit of China National Offshore Oil Company, for a possible joint venture to explore for oil and gas reserves in an area of the disputed South China Sea, a deal that may later lead to a production agreement, Energy Secretary Jericho Petilla said.
Service Contract 72 in the Reed Bank holds the Sampaguita field, which is estimated to have 20 trillion cubic feet of natural gas, dwarfing Malampaya, the Philippines' current sole gas producer with only about 2.7 tcf of gas.
http://www.startribune.com/business/228903891.html
http://uk.reuters.com/article/2013/10/23/philippines-southchinasea-idUKL3N0ID1W620131023

HOW MUCH IS SC72 WORTH? 
This article estimates how much 16TCF of gas is worth = $90 Billion.
Plus
There is the estimated 400 – 800 million barrels of oil... Add another $40 - $80 Billion

http://www.haaretz.com/print-edition/news/leviathan-natural-gas-reserve-said-worth-90-billion-1.334143 

What should FECOF be trading at?
Fep.l is worth $1.43 per share with 35mil shares outstanding. = $50mil market cap 
FECOF owns 24% of this company or $12mil.
If you took $12Mil and divided it by outstanding FECOF shares you are at $.0273, what FECOF should currently be trading around without any speculation on the gigantic potential of SC 72.

The money is already available
August 11th London-listed Forum Energy Plc, which is majority-owned by Philex Mining Corp., is spending up to $88.5 million to explore oil and natural gas prospects in disputed waters covering resource-rich Recto Bank. 
http://business.inquirer.net/137925/forum-energy-readies-exploration-in-recto-bank

The Lastest News

Forum Energy PLC Extends the Repayment Date of Current Loan Facility

The Board of Forum Energy announced that agreement was reached on November 21, 2013 with the Philex group of companies to increase and extend the repayment date of the current loan facility which was provided to the company's wholly-owned subsidiary, Forum Philippines Holdings Limited in 2010. The USD 15 million Facility, which was USD 10 million when first announced on 24 November 2010, and has been fully drawn down, has now been increased to USD 18 million. In addition, the repayment date for all amounts drawn under the Facility has been extended for three years to 24 November 2016. The terms of the Facility remain otherwise unchanged, with funds continuing to be borrowed at an interest rate of LIBOR + 4.5% and with Forum Energy remaining as the guarantor under the Facility. This increase in the Facility and the extension of its repayment date will continue to assist in funding Forum Energy's working capital requirements in advance of obtaining clarity as regards the ability for the second sub-phase of the SC72 work programme to continue.

 
Links
http://www.fecresources.com/
http://www.forumenergyplc.com/
http://www.otcmarkets.com/stock/FECOF/company-info

 

FECOF
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FECOF News: Annual and Transition Report (foreign Private Issuer) (20-f) 03/30/2017 06:07:22 AM
PostSubject
#8044   What's up with this company? backyards 06/21/17 10:34:19 PM
#8043   hain, sound good, lets see when. Nagasdog 06/15/17 09:24:24 PM
#8042   De Venecia pushes joint oil drilling in South hain 06/15/17 06:18:14 AM
#8041   looks like this has stalled again... eom7 06/14/17 11:47:30 AM
#8040   When is the meeting between Ph. and Ch. presidents Nagasdog 05/26/17 09:25:53 PM
#8039   Big Wedge looks to be a better tracking stock. eom7 05/26/17 08:45:33 AM
#8038   https://www.google.com/url?rct=j&sa=t&url=https://darcnews.com/share-activity-li gnoonster 05/25/17 02:27:25 AM
#8037   http://www.businessmirror.com.ph/tycoon-hopeful-of-xi-duterte-energy-deal-in-sou gnoonster 05/25/17 02:20:47 AM
#8036   rod has been talking directly about the reed gnoonster 05/22/17 11:02:46 AM
#8035   That would be great, I am all for it. eom7 05/22/17 10:08:08 AM
#8034   i know the feeling but since the UN.resolution gnoonster 05/22/17 10:06:43 AM
#8033   No clue... been in this play for YEARS now. eom7 05/22/17 09:42:46 AM
#8032   http://www.businessmirror.com.ph/palace-told-dont-rush-joint-deals-with-china/ gnoonster 05/22/17 05:59:31 AM
#8031   BRING IT ON!......http://globalnation.inquirer.net/157038/ph-urged-take-china-wa gnoonster 05/20/17 03:08:28 PM
#8030   I hope, but when you think FECOF is Nagasdog 05/19/17 08:43:55 PM
#8029   Another good day for PXP, should translate to eom7 05/19/17 08:42:01 AM
#8028   http://www.manilatimes.net/ph-china-tackle-sea-militarization/328003/ gnoonster 05/19/17 05:22:45 AM
#8027   http://www.reuters.com/finance/stocks/overview?symbol=PXP.PS eom7 05/18/17 12:50:12 PM
#8026   How does one follow pxp eugenecj 05/18/17 12:48:43 PM
#8025   Interesting action for PXP over the last week... eom7 05/18/17 12:04:38 PM
#8024   On Thursday, Duterte said he would be open eom7 05/18/17 12:03:22 PM
#8023   http://globalnation.inquirer.net/156968/china-asean-agree-draft-framework-sea-co gnoonster 05/18/17 11:05:18 AM
#8022   Next week could be big! Fingers crossed... eom7 05/16/17 11:06:24 AM
#8021   On bottom left click on global nation eugenecj 05/16/17 09:59:11 AM
#8020   link doesn't resolve to a page, 404 error eom7 05/16/17 09:46:18 AM
#8019   http://globalnation.inquirer.net/156704/duterte-open-south-china-sea-deals gnoonster 05/16/17 02:29:35 AM
#8018   Very positive... hope that gets some traction! eom7 05/14/17 06:40:23 PM
#8017   http://globalnation.inquirer.net/156589/ph-envoy-to-asean-lets-develop-south-chi gnoonster 05/14/17 09:45:16 AM
#8016   if there still for sale next week i gnoonster 05/12/17 11:06:23 AM
#8015   .005 and .007 eugenecj 05/12/17 11:02:23 AM
#8014   at what price ???? gnoonster 05/12/17 10:55:06 AM
#8013   Two one million share sell orders!!! eugenecj 05/12/17 10:15:46 AM
#8012   http://globalnation.inquirer.net/156229/duterte-visit-cambodia-hk-beijing-week gnoonster 05/08/17 02:30:57 AM
#8011   http://www.manilatimes.net/proof-sincerity-chinas-burden/325982/ gnoonster 05/08/17 01:41:35 AM
#8010   Good news gnoonster, thank you, now will start Nagasdog 05/06/17 01:36:04 AM
#8009   http://www.businessmirror.com.ph/secretary-tillerson-emphatic-on-need-to-halt-so gnoonster 05/06/17 12:30:29 AM
#8008   Chinese meeting the PI on the 14th and gnoonster 05/05/17 02:14:19 AM
#8007   groonster, If undersand it well this report sounds good? Nagasdog 05/04/17 06:03:13 PM
#8006   http://www.manilatimes.net/chinas-xi-hails-ties-duterte/325557/ gnoonster 05/04/17 01:12:43 PM
#8005   AT LAST, Good days ahead, I believe the Nagasdog 04/30/17 04:42:54 PM
#8004   I am sure that the PHIL. president will Nagasdog 04/30/17 04:29:31 PM
#8003   http://www.dailymail.co.uk/news/article-4459920/Donald-Trump-invites-Duterte-Har gnoonster 04/30/17 08:14:18 AM
#8002   https://www.nytimes.com/2017/04/30/us/politics/trump-invites-rodrigo-duterte-to- gnoonster 04/30/17 07:21:01 AM
#8001   all very negative at the minute, hopefully something gnoonster 04/29/17 06:54:51 AM
#8000   ASEAN Summit Sidesteps China Threat share Nagasdog 04/29/17 01:37:38 AM
#7999   Demonstrators protest against what they say is U.S., Nagasdog 04/29/17 01:35:58 AM
#7998   World Philippines' Duterte says helpless against China Nagasdog 04/29/17 01:30:28 AM
#7997   Wow that is not good! JohnnyBlaze 04/17/17 01:36:42 AM
#7996   good news???......nope , any potential returns have just gnoonster 04/16/17 03:58:16 AM
#7995   Gnoonser, is this any good for us? i Nagasdog 04/15/17 06:35:23 PM
PostSubject