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According to the email matt o malley received from Wallace , they have no desire to see us go above a 5 million market cap as that was the top number Wallace offered to exchange for pxp shares. And he can just dilute our forum shares like last time to crush us so we eventually sooner or later will need legal presentation. If it takes years so be it. Sc72 will be a 400 billion dollar producing well and we might get the courts to return to us roughly 25-30% of stolen forum shares. I own 1% of fecof and if that's a billionaires payday for me 3 or 4 years then I can wait. I have a summer house in Greece , I'll just kill time doing laps in the ocean .
That cease order and failure or lack of desire by management to answer questions and let this company trade where it is filed and register is another big proof of evidence between management and philex/pxp spinoff that there is a collusion to keep the stock depressed as to systematically drain us of our forum shares into the parent company. By the time we stop digging we will have made it easy for our lawyers to file a suite based on I'll gotten gains!!! Great work team. I didn't know Edward and rollem are amateur lawyers. Great finds!!
If you listened in to matt o malleys confetence call, as well as posts. From 3 mos ago.... matt actually met with the Canadian sec soon after attending the shareholders meeting. Matt has done a lot of legwork and I appreciate and give credit where credit is due. He went on to explain that the sec is aware of fecof and allegations. Possibly referring to some kind of agreement made with Asian coast partners the way things were handled in the past. Since then though we have banded together as a bigger group albeit with loose connections, and since then Wallace has made remarks that he's burning thru out moneyquickly ad an obvious threat to dilute what's left of us. Something they have done and we do repeatedly wether or not we go after them. We should appeal to their legal branch to take action on our behalf on grounds of embezzlement and wrongful "gains" to the detriment of the company under false pretenses that they intentionally set us up/organized it in such a way to. Transfer our wealth of forum stock strictly to pxp/ philex before the spinoff. It can be done. Not a pipe dream.
I was part of a jury team where a Hungarian illegal alien worked at a kosher bakery and wasn't paid overtime for 3 years. His statute of limitations was 2 years. Despite being illegal alien he obtained govt lawyers representing the us labor laws where overtime is strictly enforced. Even without proper documentation of his case and specific work hours. Holidays. Days off etc,,,,, the jury found he was due over 100k which I thought was overkill, and the judge retained the right to double the award for gross negligent and intent.
Where there is a will there is a way. And lastly we can find a lawyer who sees the. Potential insane payout in a reversal in fortune and takes the case to be paid on the back end when we win and not the. Front end.
Irish Matt:
I can not contribute to any lawyer fund at this very moment as we have communicated in personal emails but I might scrounge up about 1000 dollars in a month or so. What kind of formula are you representing as this normally would be an expense from my own account towards investment gains or losses.
Also are you going after pxp energy or fecof because the question and strategy on how fecof management would react to the reaction and the dilemma of using our own cash savings to thwart the legal action. Like a catch 22.
An action like a seizure or freeze would keep my money tied up and stuck in fecof indefinitely but it would also keep fecof mgmnt from stealing the rest while the value of forum presumably goes up for a better time to cash out. I could see why the positionof receiving a cash buyout or shares at a premium from pxp can be desirable but the devil is in the details. I would be interested in the details and may scratch up 1k. I still prefer the govt sec lawyers start representing our group as a whole to do this for us with govt tax payer money instead, in which it could tie into our desire to go after I'll gotten gains by pxp and a remedy of returning a big chunk of our previous equity in forum ownership.
Exactly rollem... ... and as your name suggests , it's a bit of a crap shoot but not one I am willing to let go of if accepting pxp shares is bundled in with some kind of agreement not to sue for damages as some kind of settlement. It wouldn't be that hard to prove our case and paint the picture. It goes all the way back to ongpins recent trial for helping first pacific and mannys crew take over philex when their original unsolicited bid was rejected and ongpin gathered shares in his account and offered it to first pacific on the side giving them the majority control and weasle their way into philexs controlling board. Soon after they played the same game with owning 51% of fecof and the rest is history. They infiltrate and do what's best for first pacific and philex energy now known as the spinoff pxp energy. They have left a long trail of intertwined cronies working in all their boardrooms . The entire gold longoscin scam that drained fecof can also be linked to pxp burdening us with a failed project to eventually run us dry and transfer our wealth of forum shares into their pxp pockets.
I don't want to be stuck in a pipe dream but it's worth having a legitimate legal team dig into this for the long haul for what could become a landmark case and make a few of us into multi millionaires in the process of a reversal of fortune after drilling. And still pxp would still survive as they control like 75%? of forum to date . And buy owning 51% of fecof they would still own half of the forum shares owned by fecof with that indirect ownership. This reversal to some extent can happen and should happen.
But I also agree with you that we should be focused on a more immediate matter which is protecting our remaining 6.8%.
Good find rollem..........however......
1. Forum is a British company. I believe that even after pxp took control of forums majority it is still a British company unless pxp converted them to something else and I missed it. So we would need international law here. Not USA laws of statute of limitations.
If the limitation is in fact also 5 years by British law then we should move fast and at least open a docket or procedure as to not miss a key window date for filing. I believe if we go back 5 years we are still looking somewhere between 12% and 18%. I don't remember. Fine, it's not the 30% when Edward entered, but it's still twice as much equity as we have now and that is huuuuuige. If they assess damages too with additional award in cash or further equity it will make me drool.
So I ask you since you have stated now is not the time to proceed there, but diligently find modern laws that might reflect forums own statute of limitations.. what do you suggest we do now?
I would say we use or newly formed group to persuade the govt to open a case of action against pxp for self dealing to be followed immediately with a civil suit before any possible expiration of a limitation. Any thoughts out there anybody?
This is the way to send a clear message to pxp to come to the table immediately to save face.
Also you stated that the 10 cents is reflective on pxp's own forum valuation. Or the dennison deal for pxp shares. It should be one clear cut example and stick with it. The 10 cent figure would be obsolete as share prices fluctuate daily. If it's the done deal by dennison it should have an expiration time frame on it as certain events increase forums true value. I just want clarity so we don't end up retracting our own statements as a group. Thank you Broooooo. Much respect
Thank you goforthebet for the advice. I'll take it.
If I can suggest that you also make google your new best friend so when you have a question like what is PSE ?, especially since you often state pxp quotes, you can an immediate answer yourself.
I spend too much time on this single stock as it is it's unnerving. Good luck to all.
There is strength in numbers. I ask that there is a vote or open conversation on what reporters will quote our group as saying. Even if I am against an issue in the group vote I may still stay as there is strength in numbers. My concern is that you were quoted or misquoted as saying you believe in pxp and would take their shares" I never saw a vote for that and I stayed from the beginning that I do not give you power of attorney to do so on my behalf. If you can make a vote or phrase your statements as "we would consider" and put a vote to it later, then it makes a world of difference. Yes I want profits too!!! I think I speak for all of us that if you want to represent the group as a whole , and it is a difficult task I know, you should consider us equally and not just your direct investors in looking glass as to what final deal should be made.
I hope I was clear and that it answers your question. I think what I am saying is very reasonable but if you disagree with my simple request then yes by all means , respectfully, remove me from your group and I'm sure others will follow my lead. Everyone wants their voice and vote to be heard and not hijacked without a vote or proper consideration. I believe we were mostly for an open auction bidding process and not ten cents. Although I might except it as a final offer I didn't expect to see an offer reported like that. If there is a negotiation it should be higher and settle for lower.
Furthermore , would you consider us as a group reintroducing us to the Canadian securities and exchange commission with a united effort against wallaces threats and past actions? Maybe make this injunction thru them instead of personal lawyers with future expenses? They are the ones that can force past embezzled forum shares back into fecof shareholders hands. Sounds like a long shot but it's more likely than you think. There's precedent off such cases. Thank you
That's fine rollem. I'm not asking anyone to pick sides . I'm extremely supportive of Irish and what he's done so far. I just hope he is not being misquoted or taken out of context when he says @we believe in pxp and would take shares in the company". That statement has an air of support for pxp as if they've done nothing wrong to us. That little article even ends with the statement that we were diluted recently to raise capital as an o goi g concern. That doesn't sound like a desirable investment? Where is the fact that we were diluted prematurely and without an open bidding process or fair valuation as pxp continues to transfer our forum shares In Self dealings which can and will land them in serious criminal and civil courtroom action. Even if I have to go it alone and give the lawyer 3o% I'll do so. Govt appt criminal sec lawyer would be a better choice. And a slam dunk civil procedure to follow afterwards.
I would strongly suggest that when referring to our minority shareholder group that is. Unofficially a d12 right now, we should use "we would CONSIDER". And no statements as "we will take this or do that". There has been no vote taken and I did not weave my right to vote or give anyone power of attorney!!! If people are sloppy and not MINDFUl of that issue when speaking to reporters or. To lawyers about my limited representation I will have to protect myself and bow out and I'd rather we stick together. I even suggest we consider grouping with Asian coast as it seems they've paid their dues earlier and garner more respect then we loosely do right now.
The process for sc72 looks great and if I was In apx instead of fecof I would be sleeping much better at night. I don't like the recent threats that Wallace recently made. He was so arrogant it wasn't even veiled threat. It was blatant and very telling of planned action in the near future.
Being an owner of 4.5 mil you would think I would pump this stock and not "bash" it but I cannot get out of my position. Without crashing it myself and this stock needs to be handled right in preventive measures and I'm setting alarm bells off so we can stop pxp and what they obviously want to do with us for an end game. The day they made that deal with Denis son they had already planned an end game for our forum shares. We must prevent that as it will be harder to get the sec to support us asa defunct company. The sec needs a swift kick in the butt to take action too we must reappriach them as a united group hopefully with Asia coast too
We don't have to have a reporter promote us as an investment , that's fine. But we do need to put the heat on pxp for self dealing. Conflict of interest and ossicle embezzlement. Force pxp to the table. That's who we will sue. Not fecof.
Solutions!!!!???!!!!
I've pointed out the problem, the risk and the dilemma with owning this stock but it's more important to offer potential solutions and I leave it out to the public to consider and discuss.
I'm grateful for exposure by media recently covering fecof but without a mention of a ticket symbol we won't get the attention we need 90 shares is nothing to brag about. The story I shared didn't get a response from anyone because it sounds like a dud and at the whim of pxp's kindness.
My solution for exposure is to accuse pxp for embezzlement of forum shares under the false pretense of ongoing expenses when all they do is pay their pxp employees with the funds . More importantly they never held a fair auction for our forum shares and to the contrary hurt us by changing our value method for forum unlike for themselves. If we're gonna got the press o suggest we pull out swords not toothpicks otherwise it's meaningless.
We should not ask for a set price like 10 cents or pxp shares. We should demand an open bidding process or to freeze this company's account(take it private) until exploration has taken place and the true value of the forum shares is realized for a new round of open auction for forum shares.
We can freeze the account and other actions using a law firm like Matt/Irish suggests or even consider a criminal lawyer for the govt. maybe we should reach out to the Calgary securities and exchange commission as a group with further proof of wallaces threats to dilute us again under false pretense of shareholder communication. Govt lawyers do work for free and criminal action legal suits might tighten their sphinctus more then usual. Matt o malley went alone to the sec many moons ago. Maybe as a minority shareholder group they will be forced to take this complaint more serious and with threats from wallace's emails nonetheless.
If pxp offered us 10 cents and they were the highest bidder in competition of our shares in a open and fair auction I would then consider it. We should demand an open bid process and not a set price. I dont doubt that from the day pxp offered up pxp shares to Dennison , they were immediately planning on transferred the rest of our forum shares into their pxp accounts to make up for the dilution. Pxp owns half of fecof so they can claim 3.4% of those shares but they want the entire claim of it. They can only get them if we allow dilution again.
Solution maybe what is it that asian coast did in grouping together to garner some level of respect even as a minority shareholder. We need to rip a page out of their book and co spider straight up partnering with them and demanding a split from the pxp company where pxp takes their roughly 4% of forum and we maintain the remainder 2.8% in a newly formed private company with less then half the outstanding shares out there , or some kind of reverse split to reconfigure a new private held company. At that point shareholders would receive dividends from revenues/profits. I'm not sure of the potential expenses of such dealings so I only offer this up for suggestion. I'm not pushing it as my first choice unless we know all the variables and possible future subscription of more forum shares as was done when we got diluted the very last time recently.
Lastly does anyone have connections with Exxon where we can offer them a seat at the table for unsolicited bids for our shares of forum shares. This would force pxp to pay a fair price or make a fair offer.
I'm f you wanted to stay in this long term you can always reposition yourself in apx , pxp, or exel philex which owns 25% of pxp. This company is more at risk being forced into bankruptcy then being allowed to continue as a holding company. Once pxp is successful in one last dilution of our forum shares, which we are fighting against, then pxp will move quickly to delist us as a company and our communication on investors hub will also be stopped as the ticker symbol gets defunct/delisted. This is pxp's end game for us and we cannot allow that to happen in such a away. The fight will continue with litigation in one way or another against pxp for what they did to us but if it's a common class action lawsuit you will be lucky to get 2% of your losses back from the popular quick settlements those firms make to bag their quick 33% commission in winnings.
This is chess and we must take their queen quickly now because they are surely coming after us for the checkmate as to disband our communication thru what is still an ongoing company and hopefully the best turnaround story ever if we get a judge to force them to give us back our 25% of forum back for their crooked self dealings. It all depends how we play our cards from here on out!!
I made a similar reference to add the ticket symbol in future references and I was told to be mindful and more appreciative. Be careful not to bruise egos as sometimes constructive criticism is taken personally.
I was considered somewhat paranoid. At the conference call warnin people that Wallace will try to dilute again at any time and not in the year wi Dow so
E like to think. We are dealing with confident wolves who got away with this in the past.
I don't care to use proper dinner ware at the dining table or to watch who I meet got offend while in the middle of a robbery and at gunpoi t in my own home that I paid for. I am entitled to my opinion and unfortunately I find myself being correct far too often then I likewith my expectations and events when predicting future events. Maybe I'm crazy or maybe myearnings and advice shouldn't be dismissed so quickly next to
E.
The articles need to point out the systematic fleecing that f our forum shares by pxpenergy even before the company needed to raise the so called money to pay salaries of their own pxp appointed employees . Do they get paid by pxp too or just cut a check from our account t as a thank you for defrauding our forum shares at well below market value and with no open auction. This. Should be a shame game that. Flashes the police light on pxp to shame them for the time being in hopestheydo t do it again as Wallace as just recently threatened us that us shareholders will be the death expense of the company!!!!
An article about minority shareholders asking for more money that an open market price for their shares will not garner us attention. The shame game and accusations of the fraud being perpetuated for years will garner attention as pxp won't want their image tarnished so close to signing a big deal or opening the moratorium to more new deals.
Lastly, please don't speak for me and say "WE" if it follows "believe in pxp". I don't believe in criminals. I'm not here to kisstheir butt, I'm hereto do the opposite and force them into submission as they've done to us for a decade. Have the reporters feast on the real story here which is minority shareholders group together to force An open auction for. Forum shares in their account before they are diluted again by unfair practices, accused self dealing and conflict of interest by their parent company Pxp energy who has already transferred. 24% of their forum equity in the course of 8 years or so which enriches pxp shareholders and has crushed forum shareholders to near bankruptcy. Legal action against pxp is being sought!!!
That's the effing story and I'm entitled to my opinion. I hope that was mindful for you all.
I also want to state that we should no longer state loosely that we would take pxp shares without specifying how many pxp shares exactly and at what date , for our 6.8% forum shares in trade. Further , I would refuse such offer if it contains legal language restricting me from future litigation of myself and others to go after the theft of our previous 25% stake forum shares which was diluted in similar fashion.
Extremely important is the fact that the Denison deal was done before the framework was anounced and the expected joint exploration that will be anounced. I refuse to take a .10 cent deal after joint exploration is anounced as the value would be much higher.
There is a struggle between greed and fear going on here. The fear is that they dilute/steal from us and litigation does t go out way so why not take the sure thing now...... and greed is 70 cents now as if pxp and Wallace will overnight change their position on us and allow us to grow to the benefit of fecof in contrary to the benefit of pxp. I am looking for middle ground and a fair price. Some of you have gotten in recently in the last year and have no hang ups in forgoing future litigation for the 40m valuation bit of you stay strong with people /investors like me who have seen this diluted from a 25% ownership, and for some a 30% ownership in forum, there can be a possibility that the courts force ownership back to fecof. Can you imagine if fecof is returned it's 30% or 25% in such a case????? The stock would be a freaking rocket!!! I would rather see that.
I appreciate everything Irish has done in bringing attention to fecof but as I stated before, grouping together in a d12 (my 4.5 mil shares)does not mean I will let Mat O'Malley or anyone else vote my shares away without due diligence and scrutiny. I'm not looking for infighting between us, but we should have a vote before speaking for the group in specific terms of a cash price or in exchange for pxp shares. I personally don't care for pxp shares . I would only consider it if a premium was made for my forum shares compared to theirs. Not at a freaking discount!!! If that valuation is at dennisons valuation then it's fair to note that he did so before the framework was anounced and with each step closer our value goes up, unless stolen once again by pxp. It's a dilemma , I know.
In December last year, FEC Resources agreed to the sale of one million Forum Energy shares to its parent company PXP Energy in order to obtain the necessary working capital.
This should have emphasized how this could be equated as self dealing to its majority shareholder and parent company PXP as pxp's forum shares percentage increased for just a small dollar amount compared to what they currently value their own forum shares and equity, to the detriment of the minority shareholder group who were not notified beforehand. There is a serious question of self dealing here that may lead to a criminal investigation if pursued.
You gotta admit this makes for a more compelling story and is more accurate and compelling to the bland story that was reported. I am grateful for our first story but hopefully the next one reads more like mine!!! Emphasis on the stock symbol and low market cap as well as the self dealing from what was once an ownership stake of 30% dwindled down to 6.8% as they pay salaries to their own self appointed self dealing employees that directly benefits the continued share ownership of forum shares for PXp's benefit and not for Fecof.
Mentioning that more information can be obtained at fecof.net ,detailing the minority representation for this case ,wouldn't hurt
I question if pxp can easily give us shares in conversion with their majority philipino ownership rules. It complicates the entire damn thing. I'd rather take my cash and buy apx which is clearly more of a value than pxp. Although if they up their stake with another 6.8% of forum thru our stake buyout, it wouldn't be bad as pxp around 15.
Great job. If we can only emphasize for the reporter to include our ticker symbol next time and exactly how low or undervalued we currently are. Example. : 6 million market cap should be 40 million when compared to the dennisson deal..... and that our forum shares have constantly been diluted for pennies on the dollar and then offered up via pxp's expanded ownership/theft to investors like Denison for roughly 10x the amount in what should be seriously looked into by the sec as fraud and embezzlement of equity under false pretenses and unfair practices.
I've been accused of being a glass half full type of guy but I've been let down by this company and it's criminal CEO and parent company. That I cannot settle for small steps when just yesterday that criminal Wallace had his veiled threat that we are running out of money because he answered and sent emails????
Now is the time to double down in our effort of promoting the stock to reporters and maybe an arbitrage or hedge fund activist to take this from the thieves and unlock its potential.
I hope that the near one million volume is someone new the articles are reaching and not the same bag holders. Let's turn this dog into a racehorse. Andhelp me me put lipstick on this pig by days close just in case they do a 3 month average to buy us out by looking at each days close. Putting lipstick on this stock is just buying 2k shares at the ask so it ends higher . An extra 25 bucks a day to help out equity base as they attempt the opposite.
It's good to know that even though pxp has been volatile lately. Even dropping as low as 13.65, that apx which owns 30% of forum actually finished up yesterday. Had had less volatility and is near its top end of the year. Don't base the entire ups and downs of ac72 solely on pxp. There's more profit taking to be had there. It's a stock that was at 2 , just over a year ago, so there will be lots of profit takers on news with pxp
the 1 year expiration.
That doesn't mean we have to wait a year to see progress.
It means that China cannot be trusted to hold sc72 hostage for more than a year before desiring what to finally do. If that year is expired and china still didn't agree then the philipines can offer the contract to a multinational and put china into a checkmate position with us battleships nearby.
Otherwise without an expiration. The way the follow the art of war...... they will not explore sc72 but will enslave ph from its debt and simply invade sc72 as collateral for ph to pay back its debt. I believe that's how the Chinese operate when left to do everything their shifty evil way. Never ever trust a commie bastard!!
That's exactly right HDY
That's also the reason they won't dilute fecof stock to raise capital. Their Controlling" interest allows them to steal our forum shares for pennies and therefore they just will continue to hold off selling any of their fecof shares . Only an unsolicited bid for fecof shares our our forum ownership will change the course. The last resort will be a law suite against them when the deal has finally been made and equity value has been established.
I think it's wise if we put out a letter of notice that we too want to have an opportunity to buy those forum shares at a open auction before pxp also does . We should go on record that there are other interested parties in our forum shares other than pxp and that we want a auction to bid on them. By then we can probably find a backer to go in with us for those shares or at the least pressure them to buy us out at a price closer to 10 cents . Goinbon the record shows that they are blatantly stealing our forum shares.
https://www.google.com/amp/s/www.marketscreener.com/amp/FEC-RESOURCES-INC-11095303/news/FEC-Resources-Comments-on-Philippines-China-Memorandum-of-Understanding-27646201/%3futm_medium=RSS&utm_content=20181121
Hmmmm
Finally a news link on fecofs association with sc72's progress. 2 hrs ago
We're finally having a positive influence on these absent managers
It could be a strategy to shake out weak hands and retake the position to build up shares. According to the volume chart there was slightly more buying than selling.
Ongpins was under investigation way back when for accumulating shares in philex mining, pxp's parent company before the spinoff,like a secret agent) and then offering them to pangilinan and first pacific which was trying to take over philex earlier. I don't put it past them to be playing games with our stock price either keeping our price artificially low or accumulating a position under a secret agent who could offer these shares to pxp for their nest 2 cents instead of the 10 cents we're looking for. Sounds like a conspiracy theory I know, but this is what these guys have historically done and how they operate. The only way they lose is if we get an unsolicited bid by someone like Shell who wants a seat at the forum table to eavesdrop, or if we are super tight with our own shares , then they will be forced to buy back a position they sold on higher price points destroying their strategy.
That was one helluva whiplash today so far. The volume was still kind of low despite it being above average daily volume.
Leaves me to wonder if it wasn't the same person buying it and Ali g it to test our resolve and volatility threshold. We have strong hands here. Hopefully this framework or mou if it's one in the same, leads to joint exploration agreement quickly .
Why are we comparing to aril big wedge ab:ph?
Are we really to go from the most undervalued of the sc72 group to the most overvalued??
Pxp. Is also not the best benchmark to compare to as they also have a working well in Peru under their pitkin subsidiary.
Apx also has their gold mines besides their 30% of sc72. If anything, you want to be conservative and compare it to an apx minus their value for a gold mine.
When forum was traded as a whole in the aim market it was ridiculously undervalued compared to pxp. The argument was that the aim market was hard to trade or buy into so they d listed it from there so pxp can do their own valuation model and price it's equity higher only where it counts in their best interest but not to do the same with fecof, also for their best interest again.
Lastly it seems seems there wasn't a solid joint exploration pact and just an mou agreement in place which is a big step lower then what we hoped for and what slipped from the govt official before the announcement when he said "no deal. With sc72- not sc72)
Pxp took a big hit for this reason . Hopefully they figure it out real soon or just go without china. They need some us battleships stationed there again in my opinion. They need a us naval base there if they know what's good for them!! That balance will help this move forward.
Time is against us and could be an excuse to dilute again many months from now but bringing reporters attention to this as we are working as a group is promising besides yesterday's step back/delay.
All this talk about Dennis Uy is premature!!! The deal he made is Tentative" which means it only goes thru when exploration is agreed!!! So don't get over excited about it or hype it up as more then it is. It's tentative because it's not a sure thing on joint exploration just yet like some of you are acting.
I'm still long. I have no choice really. If I was to sell my 4.5 mil shares I'd send it crashing to .003 before getting out with an average price of garbage. I'll just sit and wait out for a progressive outcome and deal to come.
Gita
You should interrupt your sleep for half an hour and join us on the cc . We must all do our part after being so heavily invested in a company under attack by pxp crooks.
I wonder how to get info and see if I can track any sale of fecof shares by pxp themselves to artificially keep the stock low themselves. Or maybe have a market maker of sorts in secret keeping the shares lower and depressed which would serve pxp's interest to continue fleecing is out of forum shares with the excuse of the company being to undervalued to get a loan for continued existence and thus they buy our forum shares for like another 1 or 2 million dollars.
It actually makes mathematical sense for them to pull off this scam if they can do it legally . They own 60% or so of fecof. Let's say that gives them a company value in fecof of about 3 million currently..... they could allow the company to go bankrupt and lose their 3 million dollar value and then purchase the forum shares for 2 mill which they get that money back in a self serving deal. So basically this 5 million dollar expense is 90% cheaper then the offer we are making to them to purchase us outright for 50 mil.
They see value in our forum shares and not in our fecof stock. That's why they never diluted fecof shares to raise the capital, but instead fleeces us of forum shares on the super dirt cheap.
Yes , I know I sound like a conspiracy theorist but you have to think like them, like the wolves that they are. If we can somehow track this activity if my suspicion is correct, then we might have a stronger potential lawsuit against the pxp criminals / pacific first criminals. I can't verify the action yet but my suspicion is strong. Especially with the price ironically trading around the price point Wallace said we should suggest to pxp to buy us out. Like it's manipulated. Why else is there no effing new release on the action currently taking place???
If there is no serious marketwire newsrelease. Or major stock news release under the fecof banner when this deal happens then it's clear that Wallace is in the manipulation game. We should demand that he release the news connection ahead of time so when it happens he doesn't continue to play stupid and have the emails to prove it in our future lawsuit that we demanded he do so as the minority group as any company would and yet he refused!! Shows intent to harm company and not promote fecof shares as any decent company would do what's best for shareholders of fecof and not for crooked PXP
I agree. The only saving grace is that when fecof had 25% the stock was at 6-7 cents. So with 6.8% at a penny or so gave you the same worth with many years to build a position in it. Although pxp also took a nose dive and grew its percentage of sc72 during that same time. But whatever. I own twice as many shares so hopefully it pays me back that way but I hope it just works out.
I wasn't trying to stoke fear and selling of this stock. On the contrary I'm trying to stoke up action!!!! Your action!!!
Every time I see an article on pxp I go to the comment section and mention the hidden value in sc72.
Now is not the time to sell. Now is the time to send letters to the reporters of pxp and mention to them how pxp has been stealing forum shares from fecof. It's a good expose for a young writer to help bring attention and protection of our shares. We must do this now. Not in 6 months where they could use an excuse to dilute us again.
We need an institutional buyer. When this deal is anounced we still need an institutional buyer or hedge fund or Exxon mobile. To make a deal on this before we are exploited once again!!!
Better we act like there's. Not a minute to lose. , then in6 monthswhen it could be too late.
The last time we went to 6 pennies it was just us on this board buying into it. That won't work anymore. We need the security and buying power of an institutional investor. Mutual fund, angel investor, hedge fu d, whatever!!!
Everybody can write. Including you again, your English is just fine and you can use google translator. Let's be a tight knit fighting group. It's to
E for war!!!
We will need more then luck again. We need good strategy.
Even if the deal is anounced for them to re explore .... waste of time. We already know what's there, and they verify the reserves.... pxp can triple and fecof could still stay unmoved in fear that Wallace and company have no intention to let fecof continue as a company. They want to transfer its forum shares to pxp for peanuts and then pay themselves for doing so with the same funds they receive until the company is effectively worthless . I make this claim with what they've done repeatedly and historically for the last 8 years when forum ownership held by fecof was once as high as 25%. Or more They repeat the same actions over and over.That's why Wallace suggested we just bypass that and ask for a measely 5 mil
For the company. Wallace and company have no interest in seeing fecof continue as a going concern. They do not promote the stock or seek bank assistance to see this companies potential of a growing company when the deal is made. I offer their reclassification of our company and how they value it's equity as proof. The denial must stop. We must stop giving these crooks the benefit of the doubt that they are just doing there best here. What an effing joke !!!
What we need here is a strategy to avoid the outcome I mentioned. Thank god we are finally getting organized and what I suggest is easier said then done as we need professional leadership here to take the next task. We need a bankers assistance or another company altogether to to take interest in Us and help take us and our shares private until the true value of our forum
Shares can be made evident. Nidof management did exactly that. They made an offer to their outstanding shareholders and whoever didn't take was taken private with the rest of their team. That's what we need. This would be a bit more difficult as it would be an unsolicited bid to take fecof private . Worse case is we open a bidding war for fecof. Which is good!!! And we also substantiate a clear value for the forum shares we own in the open public market which the damn management team of fecof has avoided in doing so intentionally , as to transfer our shares to pxp under the false premise that a fair value price for our forum shares cannot be made and is at the whim of their charade that their pxp master can basically continue to name their price when they have a different valuation system for their forum shares to be held in high market regard as compared to the demise of ours from the valuation system they changed us to for fecof..
We need an arbitrage company or someone similar to see our plight and see the investment opportunity themselves to offer to buy this company from pxp for even just 2 pennies. By doing so they will effectively protect the forum shares from being stolen from us.
I'd rather see myself get ownership of another companies shares that will retain our measely 6.8% of forum shares in the new company then see a repeat performance of fecof management stealing our forum shares until the company is utterly worthless and a shell of a company and its stock trading at .000001.
I've been following my investment here for about 10 years. Heed my warning folks. We need a solid strategy and action now. The way things are set up will only benefit pxp shareholders even if sc72 is a 500 billion dollar well. I openly welcome anyone with institutional connections, be it Irish/matt or anyone else to help save what's left before this is once again stolen from us right before our big payday under normal circumstances would have existed.
Hey Matt. I don't follow this thread as often as I use to. Did Wallace. CEO of fecof actually attempt to sell out remainder shares of forum. Or our entire company for 5 million??? Or are you just making an assumption/analogy of sorts??
I would like to add that considering how we could easily be screwed by this pxp crony mr Wallace, we must no longer fantasize about a 1 dollar a share prize in 3 years and just take our profit of 10 cents a share as you're suggesting. Certainty is best especially when these clowns have shown that they are thieves and will immediately do what's best for pxp (their majority shareholder) in total disregard for the rest of us. So I support your your strategy of 10 cents. The sure thing over the crushed pipe dream in this den of thieves is the best way to go.
I would also sugggest we seriously threaten pressing criminal charges against Wallace for what he's done and is willing to do to us again as there has always been intend to harm and embezzle the shareholders of fecof by means of doing what's best for pxp and not for fecof shareholders s an ongoing company. I'm sure good lawyers can prove this and we might be able to get an award from pxp and even their parent company first pacific. For embezzling shares way less then the market value.
Lastly but just as important. If you have any connections in the banking world via your company, maybe we can consider a strategy of offering more money for the forum shares as a private entity spinoff of the minority shareholders group.
What I'm suggesting is that since our minority shareholder group owns roughly 20% of the outstanding shares of fecof, and fecof is market valued at 5 million from time to time, we could offer to buy the forum shares ourselves for let's say 6 million and own them privately. Just like nido petroleum was taken private in similar fashion. We would use the cash received to us as fecof shareholders in the private takeover and any bank loan willing to fund this deal as any smart bank would realize the undervalued asset this is in comparison to pxp , especially after they explore this again and a contract to explore soonafter.
With the right strategy we can turn this big negative of management theft, into a minority shareholder takeover with bank financing that could become a huge windfall for us if done correctly.
Please reply with any comments or suggestions on such a possibility. Nothing is impossible. I leave commments open to any and all shareholders on this board to reply on such suggestions of an organized /bank financed takeover of the remainder 6.8 % of forum for ourselves. We can then sell it to anyone including Shell or cnooc for 30x it's worth in 3 years
Cusi's fallout
These idiots in third world countries don't know how to disseminate information. Cuss saying that ,"definitely not sc72" had many thinking that maybe he means s 72 simply will not get done or agreed to.
Sc57 was always thought to be done first, but I do believe everyone expected sc72 was the second one. Unless there's another one clarified then I still assume it's sc72.
I could be wrong but the way I took it is that when he said definitely not sc72, was that sc72 wasn't agreed on yet as we all know the framework obviously must come first anyway. If I'm making a mistake and Cui's was correct in saying /giving the impression that China cannot agree on sc72 because of their greed then I'm still hopeful that they will let Shell Malampaya and the us navy take it over to shove it in China's face that way.
In. The meantime that statement not being clarified is causing havoc on pxp and apx. This could be a buying opportunity but I never know with these clowns in the philipines and with pxp.
Malampaya was 2.7 tcf to be accurate. I don't k ow where you got that 1 tcf figure.
Regardless. I expect sc72 to be at least 15tcf based on previous leaks and attitudes. It's going to be way bigger then Malampaya. Huuuuuge!!!
I also remember reading and discussing on this board that they would do sc57 first since there's no framework needed or drama . There's no reason that can't do sc72 simultaneously. They simply will do another exploration in sc72 like they've said many times. Decide where to drill and then make the contract to do so.
Wow. Pxp and apx. Both looking to break new highs even before the Xi visit. Very impressive stuff.
Do I wish fecof was doing the same?? Of course I do but at least the other two give us a strong argument for fecof to be recognized and valued accordingly.
All saints day. November first. Closed market.
No pse market on saints day .no pxp or apx trades in ph
Today's price action on fecof can be a variety of possibilities
A simple investor selling into strength of the market on what's still an uncertain outcome for sc72
Or
Someone trying to shake us out before the big run up similar to when we ran to 6 cents.
Or
Maybe pxp selling their fecof shares with intentions of stealing our forum shares like last time and making fecof worthless ,unless you all email and call them to protest.
We should unite and demand that as a group we get to buy forum shares in the open market before they ever think of pullover bf that scam again. I would have gladly given twice what they paid for our forum shares before siphoning it off to pxp . And right now pxp or Dennis it would be offering us 20times that amount. We need to prepare for such a scenario and give fecof management a wake up call that they need to support our stock because they are not getting our forum shares for free anymore..... unless we fail to meet note.
Apx is looking better then it has in a long long time. And no fear of near term dilution there either.
This would be a logical step for us to co-invest with him on the gas terminal and gas plant but there is no commitment at this stage,” Pangilinan said. “We thought that given that Dennis has signified an intention and desire to be part of PXP Energy in respect with SC 72.”
Read more at https://www.philstar.com/business/2018/10/30/1864226/mvp-dennis-uy-teamup-keen-joint-exploration-talks-cnooc#LSvxhPHsb1Diapru.99
Nothing is a done deal until china agrees to the 60% minimum for the ph constitution to approve it and for it to be on paper. It's very hopeful but the deal is tentative. I say a 70-80% chance things go as planned. We were just 50/50 2 months ago.
Good luck to all of us. This Christmas will be a long time coming for me if it gets done. We should write Shell and see if they want to give us a reasonable price for our group shares. The outside bidder will keep our price high and keep pxp for trying to scam us again.
I agree with you Rollem .... on the surface those were my intitial thoughts.
I still tread lightly because it's not Duterte who has the final call or decision. Duterte might be overly optimistic that he will get the 60% and China paying for all the expenses thru cnooc,,,,,, but I've been let down by this country many times, let down by pxp and fecof management many times as well so I tread lightly.
The last decision (after Duterte laid out all his trust on the red Chinese) is Xi's decision. The way they interpret their holy bible , the art of war, they say the opposite and portray the opposite to slowly overtake their opponents. Like The Godfather movie. Keep your friends close and your enemies closer.
After all these bad loans and dependence is given to China, China now has the upper hand in negotiating the sc72 exactly how they wanted to , and since china will have free open entry and even troops on the ground for "humanitarian" reasons it will be near impossible for sleepy Duterte to do an about face and ask for the USA to save them once again. Sc72 should have had been signed first before they allowed the enemies to entrench even further. Bad strategy on ph. They obviously never heard of the game chess and therefore they are all useless pawns.
Advantage China . They already stole Scarborough shoal and the joke about ph becoming a province of china is slowly coming true (Duterte stupid joke). Nobody laughed at that joke. China was watering at the mouth when they heard it so they can have that open waterway mainly for stategic naval purposes and for resources.
https://www.google.com/amp/s/amp.rappler.com/business/215445-dennis-uy-manny-pangilinan-pxp-energy-deal
Yesterday's news but still a good summary.
I wonder if this guy is already regretting the deal or if it's just a matter of weeks before the mutual agreement is signed or not . I'm a bit dismayed.
It just would have made more sense to have China agree to at least the mutual framework before allowing them to come I. For the big show to sign and agree to their toxic loans which will help infrastructure but will eventually enslave the ph citizens wealth and debt to china.
I'm Greek American and I have already lived thru this with the toxic German loans tied in with buying useless military equipment from Germany to get these toxic loans . Greece has that new airport for the last 10 yrs but Germany owns it for the next 50 years. I mean who really benefits with crap deals like that. Greece collapsed because of these bad loans and yes, some shady Greek govt lies too. .
Greek people are resilient especially when the Greek foct is using the American Greek to pay these crazy new taxes everywhere (real estate tax mostly) to recover their debts. Will the philipines be as resilient?? Greeks have been around for 10 thousand years.
Pxp needs to clarify what went down and what their expectations are going forward. There's more questions than answers here in my opinion
So perhaps no legally binding conduct of code....... you can trust China to honor agreements and code regardless, like not militarizing the sea..... well. For others not militarizing the sea except for wonderful trustworthy communist china.
But hey , china will gladly help you developed wind farms because they've been so successful with green energy themselves..... no wait,,,, china still uses oil and gas......hmmm. Non profitable solar for ph. And save the gas and oil for China....
Why the hell would you agree to signing any crap ?? loan with China that doesn't include a joint agreement on sc72.? Last minute negotiation tricks? Switch and bait? Do they think they will just take sc72 for themselves?? As collateral? When the reds say "trust us" and with only a hand shake, is when you should be running the other way. I hope people throw eggs at pres XI when he attends or if he attends in November.
Nothing I heard so far cements a good deal so the ph can lift their moratorium without continued threat by dirty china. They have allowed the criminal into their house under the hopes of friendship and China brought poisoned bread (bad loans) as a house warming present. That's why duterte was right to ask to pay it back in 100 years, it would take at least that long.
I'm just irked that he would dare mention china would help the ph develope all those "green" energies (at a cost). And not put serious emphasis on the joint development of sc72. They didn't clarify if that is still being finalized or if they hit a wall with sovereign issues or lack for a legal binding code of conduct of which puts sc72 on hold in regards to China. This is why pxp is selling on the news. It's still way off if ever being signed in ph favor at all. I assume this because of the statement pxp put out. We need way more answers. If duterte had befriended trump 2 years ago instead this would be ending in ph favor and with American investment instead. Duterte should be replaced in my opinion. Allowing the wolf into the farm as if the wolf has become a sheepdog now??? And refusal of binding agreements is to maintain the status quo of china taking everything or doing as it pleases without having to answer to its retarded step children. What did I miss?
Pxp is rocking. Likewise apx. As expected. How much more the following day depends what is released as the most recent outcome of this 2 day meeting. It's a bit hard for me to believe the framework gets signed without it sitting on a desk in China for a couple weeks but I hope to be pleasantly surprised. Any forward comments that it could be signed in a week or two will send pxp towards .25, unjustly so for a company not having drilled yet approaching a billion dollar valuation, nonetheless I expect the exuberance to get it there in anticipation of a well possibly having 800 billion in lifetime value...... meanwhile our fecof with its 8% struggles to go above 5 mil market cap. I have to laugh so I don't cry.
https://www.google.com/amp/s/amp.rappler.com/nation/215385-wang-yi-arrives-davao-joint-exploration-talks
I'm expecting a continued positive reaction for pxp and maybe fecof if we can get new people to consider this bet here too.
Tuesday trading might be an even bigger trading day considering what they announce at the hotel on the 29th when they are done