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Hey guys. That was the IRS coming after me last week. It has nothing to do with the company. They took it when I wasn’t looking and forced the sale. When this goes back to 5 cents I’ll probably shoot my self Too bad for me I didn’t take the 5 cents last year and ran. 4.5 million shares down the drain. Good luck to you all
Yeah. That’s a big dump at a low price. Someone lost faith or was forced to sell to cover margin prices. I might add some to bring my dollar cost average down. Irresistible price here when this is still the closest the contact has come to being signed for development. Hard to believe that this was twice as high at 6 cents less than a year ago but it tells you what can happen here once again. And it did go to .0012 before hitting that six cents. Put everything in persoective and don’t panic. If you wish you sold at 4 cents and bought back in at this price. Then just nibble here a bit and support the price.
this is just the type of stock worthy of a class action suit because were not suing fecof. We’re suing a hundred million dollar company in pxp. And first pacific is even bigger
I still think that’s the case as I’m letting my 5 mil shares ride, otherwise I would have slowly got out like some others who made the price implode by doing so. I’ll repeat. I think any judge or jury would see that this was a well planned embezzlement and “if” we can go back after the years they’ve done this to us where we had as much as 50% and more. This can actually go to a dollar still but it’s a longer shot then a conservative 5-10 cents. It depends on pxp trading price and what Dennison recently paid , and of course the fruition of it all. If they don’t develope the damn field which looked like a guarantee only 3 months ago then obviously. This will be zero and so will pxp be zero. That’s the biggest risk as well as a paid off judge dismissing the case. Anything can happen here. If pxp finally drills forum then pxp explodes up and our chances for a settlement improve immensely. Especially with a lawsuit forcing the issue with possible jail time for the culprits if they want to risk their current path.
Summary: it’s still more likely it will go higher than bankrupt considering last we heard that it was that idiot duterte holding us up recently and not China. I’m not sure what to believe in that shady country anymore therefore it’s still a gamble. That contract announcement will change everything if or when it happens. The longer the delay the worse it looks for us and you can thank Duterte for this mess. It would have been shell developing it by now if duterte never got elected, especially with trump in office. Everything got more complicated but it’s still possible to happen
I think Irish made it clear earlier that he won’t be posting many ipdates here now that he’s being advised by lawyers. Only in direct emails as to avoid someone like Wallace himself listen in on the general thread and know what poker hand we are dealing with. I agree with him. We need the element of surprise to have a fighting chance and maybe they will buy fecof shares or merge them for pxp shares to avoid a bigger lawsuit then the one that is coming against pxp for their clear bias and likely embezzlement of our shares with their conflict of interest for fecof shareholders.
An even longer shot but a possibility nonetheless, is that we sue for the earlier shares where we had way over 50% of forum shares when this conflict of interest and bias conversion was happening. The odds are better than 10-1 in my opinion but still a gamble depending if the Canadian sec wants to help make an example out of pxp or not. And how the judge will look to see if these international trading laws were abused. Good luck to us all. This can make me or break me since I have close to 5 mil shares alone but I’m already looking at other ways to better my life since the odds are not greatly in our favor but I’m not selling regardless and hope to be pleasantly surprised. If you agree there was a conflict of interest as to how pxp handled everything then I suggest you hold your shares as well regardless of what the stock price says today or tomorrow. The outcome will soon be up to either a judge or a jury and if youve seen settlement stocks reactions to favorable judgments on small caps against big goliaths, you may see one of the biggest one day jumps in your life. I’m already betting on it by letting it ride. I’m just diversifying elsewhere like I always recommended people do from day one. I reserve the right to add a few 10000 shares here and there just to see the price get back up above 1 penny. It obviously doesn’t take much to move this stock . Overall- still high risk especially with this contract progress still in limbo when it should have been a done deal by now.
Your answer is clearly stated in the repost you made
It says “within” a 20 month period, So why ask if it’s after to begin??
It will be completed in 20 months, at least that phase will be completed. As far as where fecof will be by then it’s uncertain as it will be in thcourts hands now. . Can be anywhere from broke to regaining the embezzled funds under false pretense of dilution I stead of sale. This is really a roll of the dice here, but the sooner this foddam moratorium lifts and these idiots do what they said they would do, the higher pxp goes and the better odds for fecof to make a deal way more than its worth today. To quote previous valuations in this stage of the game it’s obsolete. This situation stock is a different animal altogether
Good find handyman-Inc
Who would of thought it’s Duterte dragging his feet asking for a week to review. What the hell was he doing the last 3 years? So a week according to them is more like 4 weeks. So 2 more weeks to go in this slow motion pong game
I can only guess that this could be China’s strategy of killing the clock and letting time run out so the philipines is more desperate every passing day to drill a replacement for Malampaya. The art of war in the process. As the Chinese have successfully stopped the ph from drilling in their own waters and to deal only with the low life commies who will wait for ph to be more desperate and give favorable terms to China. The deadline should never have been 12 months but 6 months or less and threatening to go to international partners of the speedy “ process to get this done was not met. I curse the day duterte got in with his anti American sentiment. The previous party would have had the us and England building the platform by now. And to think that these idiots put a one year deadline as a last minute add on in the contract. This is the best of the best in the philipines? Clueless really . Hopefully it’s not last minute on the damn deadline . I just keep getting older here and many moons have past on this dragged out agreement to make an agreement “ garbage. My last investment in this backwards country bit I’m still holding for the 4th quarter whatever the outcome. Pxp is holding up well all things considering.
Wishful thinking or not , it’s fair to say that the variables are different this time around and so when you add it all up, even though there’s always possibility of more dilution to this company , I strongly believe it’s unlikely if they want to avoid a class action lawsuit against pxp for what is clearly embezzlement this time around and a good case to prove it in past times as well. If pxp wants a fighting chance in court for past embezzlement they have to make a clear attempt to buy our shares before further dilution. If Mr Uy would pay 10 cents a share along with concessions, then why wouldn’t they or someone else want more forum shares for half that price??? This can be done before dilution due to subscription like last time. Sec is watching closer this time
Your remark is super negative as opposed to the more likely scenario that there is a premium buyout for these shares in the 5 cents or higher range before dilution starts.
I don’t expect more of the same as there are both lawyers and a renewed interest by the Canadian stock exchange watching these people as it’s more clear then ever what they’ve done in the past . When there’s no contract to be signed and looking like a dead deal it’s easier to dilute, but when the restriction is lifted it will be clear that forum shares have indeed serious value and those shares need to be sold not diluted .
Do you own any shares traderfan?
There was an assumption made here that there might be more selling after the revocation of thencease order in Canada which kept Canadians from buying and even selling their shares.
On the contrary, these people were being forced to liquidate their shares as many brokerages would not hold their shred anymore but now this has relieved the selling pressure for those feeling forced like they had no choice but to sell or lose their shares . Some transferred somewhere else and some stayed in limbo. If anything this will allow more buyers in the future when big news is announzc ouvu
Revocation of cease trade orders...... that’s pretty huge isn’t it??? Trade wise? Canadians won’t have to be forced to sell out of their positions anymore if I understand it correctly. Maybe too late for some and maybe just in time for others who were frantic about finding a broker to hold it.
This could help the supply :demand side of things when we finally drill again. Open to more buyers.
It’s very interesting that Wallace didn’t bother to do this easy step until after Matt/Irish got lawyers to go digging around and ask professional questions as to why this status? Who does it serve best?
Any opinions on this?
Those articles are pointless. Fecof is an advanced speculative holding and when they drill and confirm 20tcf recoverable it will be less speculative and jumping in price. The ongoing fraud by fecof executives is what’s always been holding this down but as they are now more and more exposed and sc72 gets more and more interest by investors, the true value of fecof will have to be paid for fecof. I don’t mind if it’s a bit later after the sc72 confirmation giving it multiples on its value.
Just my honest opinion.
Nagasdog??? Back to .003? After current progress? I would be a buyer if that happens. Only a broken deal will send it there temporarily. Or if some begger needs to sell 10 mil shares for peanuts all at once.
I’m cutrently a beggar with a 40k a year job and I’m not selling my 4.6 m shares
Seeing this stock at .008 in this stage in the game is a travesty and the ph govt doesn’t help one bit by delaying the announcement of lifting the moratorium which they said they would at the request of pxp. And pxp requested it 2 weeks ago. What the hell is the hold up??? What’s wrong with that govt?? Fist they let china hold them hostage while considering China a better friend than USA. And now they are dragging their feet to get it over with.
Some glimmer of light is that ,thankfully to Irish/Matt, we have lawyers now and that might be the reason the Alberta stock exchange is finally doing their job too and finally turning up the heat on Wallace and the rest of fec who do pxp bidding rather than what’s best for fecof as they are required.
I don’t see this going up without severe marketing to individual investors an therefore the realistic approach would be a fair offer from pxp to do the right thing and to keep themselves out of jail too. There is a fear of being diluted again with their games of subscriptions and lack of funds if they are left alone to do whatever they will to do. I think at least in that context we are more protected this time around and even at .008 it doesn’t mean won’t see .05 to .10 suddenly with a buyout offer. The buyout will be more likely if they lift the damn moratorium and even do the drill. We can get more if they validate 20tcf
What’s the delay with the moratorium lifting announcement??? They said thatsall they were waiting on was therequest. What the hell are they waiting for China’s permission again? I’m sick of this wait
I disagree. You can’t say “many believe” when the volume is so negligible despite the price action. This can open at 5 cents with the right news pop in which case who cares that someone sold 500k at 1 penny. Even big volume is wrong sometimes too. Warren buffet has egg on his face thanks to Apple. The story isn’t over. Just beginning and having representation makes a big difference this time around
FEC Provides Map of Various Philippine Oil and Gas Properties
https://finance.yahoo.com/news/fec-provides-map-various-philippine-200200201.html
Wow that piece of crap Wallace is on a spending spree with fecof. What a waste of money to release news about maps we all already know. About. Could this criminal be any more obvious then he already is???. He needs to burn the cash flow in his mind , and quickly, to justify dilution of forum shares again before the moratorium lifting values forum shares twice what they are worth today. Send this jerk an email and let him know that his actions are obvious. And predictable but lawyers are already investigating his actions !!!!
So first the ph govt says the lifting of the moratorium on sc72 must first be requested by pxp. /forum.... which they drag their feet for 2 weeks and finally ask for it ....... and now the ph govt is dragging its feet in granting it and announcing it!! Why should these things take more than a few hours to process. What’s wrong with the philipines????????? So frustrating. Dealing with invalids
https://www.yahoo.com/news/tough-south-china-sea-talks-ahead-vietnam-seeks-230946424.html
At least viet nam is demanding some order in the region continuing forward.
Happy New Years everyone
Either Wallace is putting news releases out to stay current and legit
with promoting us out of fear of the minority shareholder representation or he’s figured out away to spend our cash a bit faster to attempt a dilution before drilling. Could be either one. Not sure if this was worth a news release as opposed to it actually being lifted
North Sydney, Australia--(Newsfile Corp. - December 27, 2018) - FEC RESOURCES INC. (OTC Pink: FECOF) ("FEC") wishes to advise shareholders that it has today been made aware that Forum Energy Limited through Forum (GSEC101) Limited has sent a formal letter of request to the Department of Energy in the Philippines to lift the Force Majeure imposed on Service Contract 72 Recto Bank.
An extract from the letter provided to the Philippine Stock Exchange reads as follows:
I’ll take the good news anytime I can get it with this stock. I’m not looking for upticks to 2 pennies etc. I want the drill and watch this skyrocket with the rest of them. Even if fecof management tries to dilute more by then I can convince any lawyer to take this case on commission to get back the stolen goods. It will be obvious by then what it’s all worth. I feel like a leprechaun finding gold!!!
When you ask other people’s opinions on stuff that is not gathering the facts. It’s not irish’s Job to cheer us up or hold our hands. He already replied to your belated question with a very optimistic perception on his “thoughts” of an outcome. I will hope for that too but take it with a grain of salt. This is not a dead deal anymore where they diluted at their will. They dilute now with a big risk of jail time for doing so as it’s clearly worth a lot more since the last dilution. Having a set of lawyers and the Canadian sec aware will also keep them in check . There’s even an email floating around where he told Irish that they might take a 5 million market cap, where it’s trading now, so they know they need to just buy it rather than dilute and spend the cash on themselves. Enough is enough
In that scenario it won’t help but how could you overlook the FACT that we have lawyers now exactly for the prevention of such a scenario. And just in time I should add.
Did your mom always fill your glass half empty? Even on Christmas?
Well, no sellers here, can only go up from here if that moratorium is lifted. I hope that’s very soon. It’s overdue. There’s no reason to wait til the very end of that 1 year deadline, they only put that deadline so China didn’t hold them hostage indefinitely . I’m hopeful. Don’t expect to hear much from Irish on this board as his lawyer told him to stay quiet if I understood his email correctly. Anyway. Good luck to us and happy holidays
In regards to the “area adjacent to sc72” I would guess it’s the other 30/40% of the “reed table” in the “reed bank” that isn’t covered by sc72. It’s a smart move by forum/pxp, ad it is dangerous for someone else to come in, such as cnooc by itself, and siphon the gas from us in vertical type drilling. The entire reed bank can hold upwards of 50tcf (my guess) compared to the possible 25 tcf (seismic guess) currently under the outlined area.
Yahoo.com
They will argue on that instance that the pxp and forum value was lower than the 15 price it's currently at..... and I can't remember the exact number of pxp's price on that subscription date that diluted us. But let's say they were around 7 or 8 bucks for pxp's price when that happened(half what it is today) then you can still argue Forum shares according to pxp holding we're around 3-4 a forum share. Still way more than .20. So definitely ill gotten gains on many different levels and characteristics the way they went about it. Even if forum shares were closer to .40 when they did that it's still freakin ill gotten gains when there's no attempt to sell it to other potential bidders.
Pxp was the spinoff. From philex. Pxp owns the majority of forum
I didn't think they doubled the shares of forum but even at 81 million shares of forum that would mean forum shares are roughly worth 7-8 dollar a share if you compare it to pxp's holding and market value.
Yes. Forum can go public again in the future. They were in the aim market before which nobody follows. They can relist in London in the future and most likely will
I should have fact checked my numbers on the new outstanding shares of forum instead of guessing 40 million but I did state I wasn't positive on how much they extended there shares from the subscription time frame that diluted us. Whatever my bad. Forum shares still worth lots compared to the 20 cents a share we previously got.
I agree hdy. Focus on our 6.8% first.
How am I wrong by making reference to the past and warning that such a flagrant execution repeated in the same manner would warrant a criminal review ???
How come Matts OPINION. "That nobody is going to jail ", be a more valid Opinion than Mine that they should , and could if we press charges??
Did I make a reference to anyone on being too soft on the issue?? So why should I be judged on my own stance. Or Edwards Stance. Oh the hippocricy!!!
We are not losing focus, we are just adding it in as reference and demanding that one day it gets followed up with criminal punishment. Nd a civil suit to follow soonafter for wrongful gains. Hopefully returning our percentage.
Maybe letting Wallace know will make him think twice about doing it again and making it so obvious . Even by pxp's metrics on the last dilution we should have gotten something' closer to 7 or 8 dollars assuming pxp was trading around 6-8 when it happened and I think it was.
I said my piece and I don't stop others from saying their piece. They are entitled as so am I!!!!
Thank you and good night
This is only one metric. It's arguable. But you gott know the exact outstanding shares. I think they were close to 33 mil outstanding sharesfor forum. For the time being I round up to 40 mil until I find the exact number afterthe subscriptionwhich diluted us actually was.
40 million shares multiplied by 15 dollars a share is 600 million dollars.
I can argue Forum is 600 mila I ce 80% of forum held by pxp makes it roughly a 500 million dollar company.
I mention 5 to 7 dollars as a conservative. Price per share to lend out in a line of credit or to buy outrightper our FORUM shares. Not to be confused with our Fecof share price.
Ironically , if you do equate 100% of forum being worth 600 mil, and consider it fluctuates, it's currently roughly 10 cents a share.
You can compare it to apx I. Which case we get less or compare it to Atok big wedge where we get a lot more.
The wise thing to do is to spin off forum as an independent company trading with its own symbol. If that would happen we would set our worth to the forum price but obviously that's not in pxp or fecof mgmts best interest u tilthey get all our shares for peanuts. We don't even get the 20 cents as a dividend , they just use it to pay for their cronies until it's all dried up. That's what we need to stop.
Matt. If you think I speak too harsh don't visit New York, you won't like it and don't vote for Trump even though he's getting things done.
It was a warning more than a threat that if they attempted to dilute us again goi g directly to pxp and without notice or attempt at an open bidding g process I would seek. Legal action for criminal
activity. I don't have a law firm yet.
Going back to what I mentioned before. Have you considered that ata yehere a 500 million market cap for pxp's 80% of forum shares.... that makes forum worth roughly 600 million or so...... out 6.8% would be roughly 40 million..... I don't know what the new outstanding shares are for forum
After the subscription but I know they were well under 40 million shares at one point. Let's say they are at 40 million shares....... that would be 15 dollars per forum shareand the last time they diluted us it was either 20 or 30 cents a share for our forum shares. Highway robbery.
We just need someone to come in right now and offer to buy a portion of shares at 5-7 dollars a share, half of what they trade for u see pxp and it would set precedent and price. Or set a line of credit with the shares as equity at a set price of 7 dollars per forum share and that would automatically. Stabilize the stock nd send it higher. If they don't pay back the loan the forum shares can be paid back as collateral as in a lien. By then forum will be worth in the few billions. Do you think LGI or so
Rome in the lending world you're connected with would be willing to make such an offer?
Hey MAtt. I just got a brilliant idea if I say so myself
Maybe you can pull some string at LGI where you work and see if the firm can make an official offer to give the company fecof a limited line of credit and hold forum shares as equity in the situation where they don't repay the interest and loan back at a set period. This would put them on the spot and on the record that they refuse to deal with anyone other than their crooked parent company pxp if they refuse a line of credit and dilute us again. Sounds like a win win for lgi considering we want to prevent them from burning the cash and diluting us again.
I'm thinks bf outside the box. Sideways really
I believe Wallace is setting the stage and his tone is very telling. He is prepping the audience to justify selling more fecof shares to pxp for the same ripoff price they did last time with the excuse nothing has changed with the force mejure etc. also spending money on crappy releases and fake advisors will bring him to do so faster. Write to him folks and tell him that selling more shares to pxp is u acceptable and that a line of credit is necessary until exploration happens. 2. An open bidding process open to anybody other than pxp / the parent crook company stealing from its foster child.
Feel free to threaten criminal charges if he presses forward in stealing shares away for pxp again. I've already threatened criminal legal action and will prepare to carry it out when or if he tries so
Ethi f
I believe Wallace is setting the stage and his tone is very telling. He is prepping the audience to justify selling more fecof shares to pxp for the same ripoff price they did last time with the excuse nothing has changed with the force mejure etc. also spending money on crappy releases and fake advisors will bring him to do so faster. Write to him folks and tell him that selling more shares to pxp is u acceptable and that a line of credit is necessary until exploration happens. 2. An open bidding process open to anybody other than pxp / the parent crook company stealing from its foster child.
Feel free to threaten criminal charges if he presses forward in stealing shares away for pxp again. I've already threatened criminal legal action and will prepare to carry it out when or if he tries so
Ethi f
That was a good article even though there was a slip/ mistake where he said service contract 32. Instead of 72. He still mentions sc72. Forum energy and the reed bank and fec ,which are very big key words . Every little bit helps. He can also run a correction on the sc 32 slip up which would promote us again.
We May me duilding up some steam on outside for a change. Gotta keep the snowball rolling and turn it into an avalanche on pxp energy to do the right thing!!!
Yes I would obviously accept that. I prefer it over the set price of 10 cents and I feel pxp fears that as they don't want just anybody sittting on their board. A bidding war would ensue between pxp and a challenger/investor. It would be best if we could survive until they actually e plots once again and" verify "after a drill.
I have always had remarkable gut feelings and glimpses into the future. My gut tells me 15.4 tcf. We can at that time expect to see a bid as high as 50 cents depending on the specifics of the contract split.
If I took 10 cents now and got into apx at under 1.80 I would still expect similar returns .
I will admit that a good argument can be made that pxp is the better investment even though they are more pricey than APX. The argument is that apx will be seen as a holding company of forum stock and pxp is the actual company with majority shares callin the shots and demanding a multiple in price for earnings like a legitimate company.
My gripe is that I want to see pxp crushed one day for what they did and when they are forced to return about 20-25% of forum back to fecof. ....god willing, pxp will crash 80% on such news , that's when I'll consider taking a piece of them. This will all take many years to play out but it's my chess game of this lifetime. I've been in this long enough to see it thru
I fear that they will try to do just that and my mentioning it is more of a warning to prevent such a scenario from continuing what they've historically done. We need all the shareholders to write management, the press, and hedge fund to uncover our true potential, otherwise it's in pxp's interest to continue to do the same as is testament by crooked Wallaces speech in emails to matt O'Malley .
Wallace was recently quoted in an email saying we are running out of money again when we clearly shouldn't be and he was quoted last month that pxp would consider a 5 million dollar valuation on fecof and not the 40 million we laid on the table in comparison to the dennison deal.
I'm looking to cash out twice. One for a buyout and again when we collectively sue them to get back out % from their ill gotten gains from us . You offer a high profile case against what could be the philipines premiere oil explorer going forward, and offer a 15% or so commission on winnings that can be in the billion range,(considering we get back another 20% offorum) they would be crazy not to take it.
Once again it serves me well to stay pessimistic as to motivate what needs to be done rather than to celebrate early like that marathon runner who leads the race and slows down 20 yards before the finish line to start celebrating, only to see the second and third runner quickly pass him by. I don't want to be that idiot.
If we see the 10 cents before they even drill then I'll take it and reinvest it somewhere like apx or maybe pxp under 15 . There can very well be a happy short term ending if pxp doesn't want the negative publicity . I would rather stay conservatively pessimistic of fecof management because I got tired of being let down. Y them systematically and how they diluted our lifeblood of forum shares rather than give us a line of credit to exist with our holding. There is good reason to be optimistic for sc72 to develope but I will not celebrate until I see an offer on the table and that management will stop their crooked games.
Lawyer fees can be paid in the back end and if criminal charges can be brought then the govt lawyers will do our case for free.