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db7
thanks for your view point........I admitt that has crossed my mind too but thats to really think it deep.....maybe overthink it........but still a possibility as you say......could definitely play out just that way.
but maybe its safer to just take the preliminary talk as they had last year at face value
believing its a rehash of old news and diplomacy to keep the chinese comforted that forum is still open to them and willing to avoid this cold war between the two from getting colder, and as you say possibly seeing if they can get the chinese to just be happy with a contract and no royalties to save Face of a court ruling hurting ties.
the rhetoric though doent convince me.
honestly....good luck to all.....I have 2 million shares....didnt really need to add more but i didnt buy much at good prices of .007 where its fair in todays climate....would have liked to dollar cost down before Real News comes into play
you might be right about a bottom somewhere around .0075 because of galoc 5 as well as galoc 6h of fep.'s holdings....
i just dont think we will see the justified runup we all pray for in sc72........we are more likely years away from that instead of months....
i'm just shooting off an alarm to avoid people into buying shares of .015 today when its simply a rehash.....mostly old news although the fact that they are "still" in preliminary talks is better than nothing I guess........
keep this in mind though........if forum and cnooc agree to something on paper, there most likely will be a small runup of about 5 cents...................but since this is already at the un tribunal.......when the philipines win, they will avoid by all means partnering with a state owned chinese company who can do them more harm than good.
forum was in talks with cnooc to get the govts to agree in a partnership of sorts,,,,,,,,,,,that simply didnt happen and we are at the courts now and a sort of cold war between the two countries...............for every action there is a reaction and things change.......................news of an agreement of forum and cnooc might happen 3 or four months from now if preliminary talks grow bigger...< i strongly doubt it.......mostly for show of diplomatic openness>..but its all meaningless if and when the philipines win at the tribunal.............they will get usa navy submarines to defend and drill for themselves with a british partner like shell
the concrete cnooc news is that they are in "Preliminary" talks as anounced today..........they were in Preliminary Talks last year and had stopped for a bit..........its a rehash...........does a rehash of old news justify a big upswing?
i want to see this at 50 cents one day where it can stay there as i sell all my 2 million shares,,,,,,,,,,,,,,,,swings in price without enough volume or buyers for all of us to profit handsomely is meaningless and short lived..........wouldnt you rather add to your position with prices of .0075 or so? where at least its galoc holdings justify that much?
anyways....if there is a runup here,,,,,i will be buying it again under a penny in less than a month of a knee jerk reaction which this surely is.
hey Johnny,
no disrespect, just trying to pick your brain, maybe theres something i'm overlooking.
why do you think this deal will be anounced before year end?
do you mean a deal on Paper only or a project actually moving forward and getting drilled?
I view the recent activity of aquino being rejected from participatingat a china trade fair as a purely negative mood going forward on this project.
I do understand that some view cnoocs talks as if it were china themselves in the talks since its a state owned corporation, but i disagree that this overrides the political talks. China could simply be feeling out the situation thru their corporate spies or simply allowing cnooc to get on paper a joint ready for the possibility of the philipines conceding their sovereignty and splitting the royalties in the reed bank.
I dont think either one is playing poker at this stage.............although china has shown its hand in its willingness to joint royalties as they once stated in earlier talks. The philipines obviously doesnt want to concede that <as japan was once bullied into> and have since taken everything to the UN tribunal for an all or nothing play.
sounds good on the surface but you should approach this with some skepticism as well.
why? Because its the govts who have final say.....absolutely nothing will happen unless the chinese govt. concedes that its phil sovereignty in the reed bank. They just said the chinese govt. is holding strong their position and exiled aquino from a china trade fair.........U>N> tribunal will take a full year if not more.
but this is progress isnt it?
they were in talks a year ago when the stock was 3 pennies and has since dwindled with chinas stance..most recently and by aquinos own account china "continues its stance/position, but at least they are talking"...........sorry i'm not that impressed.........i remain hopeful but nothing as soon as you folks would like.
cnooc could work out on PAPER what a deal would look like, but without knowing who gets the royalties, China will not allow cnooc to drill there, or anyone else, until they have dragged this thru the mud and bullied themselves into a settlement of sorts, for part of the royalties in a field that is simply not theirs.
just my opinion
no reason to run this stock back up to 3 cents anytime soon....
it will crash back down again anyway if it does......add to your positions in small bunches at these fair prices of a penny and lower but dont overpay for something that is not true progress.
200 share volume today reflects incidiery market makers.
i had an open order for my nephews account for 50,000 somewhat shares..............and of course the market maker only executes 200 shares to make the combined price with my obvious execution cost a losing trade........to weed me out from ever placing an open order without restrictions as opposed to "an all or none order".
if i start placing all or none orders my order will easily get skipped as the market maker will simply execute trades smaller than my total share order..........
these are just some of their tricks to weed out so called day traders or people like myself that just want to place "limit" orders in between the bid and ask to add to their holdings<or in this case my nephews account>.
the difference between the bid and ask reminds me of the micheal milken trades as made famous of the junk bond king in the book "den of thieves".
I will keep my partially filled order open for full execution as i am first in line until it goes higher..........i feel that even if this company shuts the book on sc72 <which i am not sure of one way or the other>, it will still be worth around 5 or 6 cents in the next 2 or 3 years maximum due to its galoc holdings. Unless theres dilution in the fecof stock due to the continuous burn rate thru their dwindling cash......they really need to get a hold of their expenses.....i dont know what the hell they are spending that cash on other than handing out checks to their friends on the board.........a board which included big daddy philex'x top people.
anyways, thats just my 2 cents.........or should i say my 200 shares at .066
? Galoc-6H well successfully flowed to surface as part of
well clean-up and testing operations.
Otto Energy Limited (“Otto”) (ASX:OEL), as operator of the
producing Galoc oilfield joint venture offshore the Philippines,
provides the following update on the Galoc-5H and Galoc-6H
drilling campaign in SC14C.
Progress
During the period from 0600 hours (AWST) on 16th October
2013 to 0600 hours (AWST) on 21st October 2013, the subsea
tree installation, well clean-up and flow test operations were
successfully completed on the Galoc-6H well.
The Galoc-6H well has successfully flowed oil to surface from
the Galoc Clastic Unit (GCU) with the well flowing at a stable
rate of 3,800 barrels per day (“bopd”) on a 56/64” choke setting
with a flowing tubing pressure (“FTP”) of ~570 psi. Operations
were conducted via the drilling rig “Ocean Patriot” and oil was
flared at the location.
The initial oil deliverability potential from Galoc-6H under
normal field operating conditions is expected to be between
4,000 and 6,000 bopd with final operating rates to be set according to optimum facility and reservoir
management constraints. The results from this flow test are in line with the forecast overall field production
rate of 12,000 bopd to be delivered once Phase II is brought in to production in late November 2013.
Forward Plan
The forward plan is to secure the Galoc-6H well ready for hook-up operations due to take place through
November. This completes the infield drilling operatio
yes,,,,i am happy to admit i forgot a zero.....projection are 10 times better.....justifying the stock to be worth much more than it is..........as long as they dont do the test drill at an 80 mil cost before they know they can secure their investment from a chinese military takeover.
heres a link to an update for galoc 6h.....good news for fep.l......even better news for nido
http://ndo.live.irmau.com/IRM/Company/ShowPage.aspx/PDFs/1913-66609727/Galoc6HWellSuccessfullyTested
you are correct, i did the math in my head....should have wrote it on paper....too many zeros got me confused.....even more reason to hold fecof......heres a link to the galoc 6 well....more good news
http://ndo.live.irmau.com/IRM/Company/ShowPage.aspx/PDFs/1913-66609727/Galoc6HWellSuccessfullyTested
interesting math
"
Furthermore, the company said results from the flow test are in line with the forecast overall field production rate of 12,000 bopd to be delivered once Phase II is brought in to production in late November. "
lets just say 100 dollars a barrel....simply adds two zeros to the bopd <barrels of oil per day>
so thats 120,000 dollars a day in <revenues>
1.2 mil in revenues every 10 days , and 3.6 mil in revenues every month or so.
2% <fep.l's share> = roughly 70 to 90K a month
about a mil every year in revenues til production dries out.
like saying fecof is looking at 250 k <possibly more> in revenues per year but only in equity worth, excluding current expenses as well as any future expenses.
like saying fecof is currently trading at 8X to 10x its revenues in fep.l or roughly <possibly> 20 to 30 times its cash flow at the shareprice of .0065 for fecof.
once again it all means nothing when we roll the dice and risk expenses for sc72..................but if sc72 never happens this math will be of strong interest/importance.
another successful well like that of galoc would add greatly to the cash flow after expenses and should give fep.l and fecof a stronger floor in stock price.
since fep.l has not used any $$ yet for an "exploratory well" for sc72 and may possibly never do so, their financial charts are about to improve drastically with galoc.......and therefore so shall fecof's equity in fep.l improve....wether its reflected in shareprice we wont know but it should as cash values in fep.l improve.
if they ever do the exploratory well for sc72.....that huge investment will be an all or nothing for the company and the galoc production cashflow will be meaningless.
I'm not saying that they shouldnt ever go thru with the exploratory well costing 80 mil.........just stating facts and my viewpoint.............
simply stating that if there was never an sc72 to be put in consideration, fecof would "soon" be trading near its "equity of cash value in fep.l" when cash flow starts coming in towards the end of the year and continuing into the next.......
i feel like you can somewhat evaluate a floor here, or justify for one being there without stock manipulation. BUT when you add in the likelyhood of the risk expense of sc72 materializing in years to come, then you have to put fep.l and fecof at a discount again because it will once again be a pure speculation stock play. Its still hard to label this stock in a specific category and thats why the strong investors are LACKING in this stock.
its definitely a good thing that the exploratory "expense" for sc72 hasnt happened yet ..and hopefully wont until a strong UN backing of sc72 with a stronger Navy presence to defend it as well. Adding more confidence to the risk of that investment/play.................succesful drilling is yet another big risk assessment to be factored in.
good luck to all........and patience for the looooooooooooooooooooooong wait
thank you free silver,
the option and scenario that you just mentioned is the one harped by the phillipines and the one in their best interest hands down..............but its also the long way home.....were talking years if it ever gets done that way thru legal channels, alliances, and whats in everyones best interest<not necessarily the right thing but the best interest>.
With a govt shutdown in the usa today , i offer you the current state of affairs as an example of failure for gov't to agree on actions and initiatives going forward. The usa might just turn a blind eye and leave everything in limbo.
Stalemate means neither side wins and that equates to an all out loss for fecof if that happens.
First pacific is definitely the top dog and decision making ceo here but china doesnt need to buy them, they need to buy philex from first pacific but i dont think that can happen< I could be wrong>.
thanks for your input,,,,,best of luck to us all.
playing Chess with Fecof
I just got back from a long vacation, i hope everyone is well even though fecof obviously is not.....its no surprise that this stock will be in limbo and thus a much lower stock price then it was a year ago due to the time frame and chinese harrasment issue that has put this exploration on the questionable column.
I am a longterm shareholder with close to 2 million shares and have come to accept the fact that this is an All or nothing investment for me.....should have been a smaller percentage of my portfolio money than what it currently is but sometimes you have to take risks like carlos slim did on apple when he invested 20% of his wealth in the company...........but this is no apple.....this isnt a scam stock either like of so many of those pumped on investors hub.
Ironically... the same reason that has caused this stock to nosedive is the same reason that proves this is no scam stock.....its just that the production of this has become questionable. The fact that china has escaleted a near war with the philipines over our small company has somewhat proved justification in its worth......a worth much more than its 2.5 million market cap in fecof........
I assume that the standoff at shoal and everything over the past year has cost china around 100 million in expenses and public relations if not much more....<iraq cost the usa about a biilion a week>...hurting your reputation simply is not worth it if you want to grow earning as a country in this global economy where Trust and reputation/stability is the key ingredient.why not just buy fecof or fep.l on the cheap? adressed below.
I was playing chess on my computer and was thinking on the simple strategies China can and should/would use....
why not just buy fecof? Well its majority owned by a philipine national company <philex>so its HIGHLY doubtful to ever get majority owning of it.
why not just buy enough shares in the open market to get a directors chair.......to influence from the inside, or to simply "spy" on the decisions of the board? this is possible in my opinion.
is china willing to compromise? I believe so, as their strategy of "its all chinese" harrassment seems to have been a strategy of bargaining their way into half ownership of the exploration site including its royalties.
they <china> have pretty much been quoted saying they are willing to explore this site together but implying that they get half the royalties..........this is a matter of national pride for the philipines as they are looking to not get "suckered" into smaller royalties like they did with malampaya.............But as corrupt a country as Philipines are....their pride can be bought and sold or at least bargained with thru a side deal where they get something in exchange and use public relations marketing to cover it up.
this stock/deal is certainly not dead but its certainly a looooongshot especially on an indefinite timeframe.
is fep.l moving slightly higher signs of this?? not enough volume to convince me the least bit about that.
Can or will fecof be diluted down to just 10% or less ownership of fep.l before this is finally done/screwing the shareholder? not out of the question but i would welcome feedback from an accountant on the reality or feasibility of that outcome.
Lastly..............i ammused myself with a questionable idea........if my 2 million shares were lump summed with others on this board, into a corporation representing the shareholders who have combined well over 10% of these shares,would this not give us a directors chair as well and better insight and influence of this company? probably a fruitless idea since majority owned by philex makes our voting rights somewhat obsolete...........thats why theres philex board members in fecof to begin with........but still i wonder if we can have more certainty of not being scammed last minute from big philex into diluting fecof if we had a directors chair.
any thoughts?
best of luck on this limbo/longshot stock.
they have bigger bal-s because they have the bigger guns to back it up......very simple actually.
pushing weaklings up against the wall and then making them feel greatful and relieved that they only have to give up half their lunch money......this strategy has worked for them in the past...........i'm sure its in the "art of war" as well.......so thats why they do what they do and will be successful in doing so unless the US and UN get together to deter that crap from happening.
i'm sure there are investors that would gladly take a less risky 20 cents a share as compared to a possible 40 cents a share or nothing scenario...........its all mind games and they tend to be profitable for them. Japan caved in a few years back with a similar chinese strategy.
this was the inevitable....nobody should be suprised.this will continue to swing wildly and widely for the next 2 years as nothing is going on........its more of a longshot than ever before with a timeline pushed back indefinitely if ever...........expect swings of .003 to .009 for the next 2 years minimum.
just being honest even though i hate to see my worth decimated like this..........at least i wont be in denial of why, how and when.
update for galoc field which is 2.2% owned by fep.l
http://ndo.live.irmau.com/IRM/Company/ShowPage.aspx/PDFs/1870-12671799/GalocDrillingUpdate
this STORY has a more promising outlook than the repeated stories from MVP Pangilian.......
Shell might be the one offerring to team up with fep.l to get this done ....we might not see an offer for a year or two but its in their best interest around the timeline of the lng project coming online in 2 years or so.....
this has to obviously be progressed along in the form of safety as the US NAVY continues to beef up security in precisely that area.
a conflict including the usa and china in the scarborough shoal will be the litmus test...........if the usa can get china to remove themselves from scarborough then it will be a strong postive for sc72.
Pangilinan might be correct in the assumption that a deal with cnooc being the fastest way to getting it done...and its in his interest, but he would be selling out the philipines and their sovereighnty if he expects the phil. govt to give up half its royalties to china in relation to true ownership of the field...........you might even argue that you disqualify fep.l's license of the sc72 field if you concede rights to china , as the license was done under philipne law alone.
Active planning and drills by the us navy is the only thing keeping this alive right now......if the us abandons the philipines then its over....thankfully the opposite seams to be true .....currently.
interesting fact....the phil govt. receives less than 20% of the profits from malampaya and still managed a bil in profit last year..............they feel suckered by that deal and under current law want to withHold their right to 50% of the fields profits in sc72....
in comparison...........fecofs ownership which will be somewere between 10 to 17% by the time this is done, if ever exploited handsomely like malampayas, should bring fecof somewhere around a .7 of a bil or 700 mil in profit a year as well......years after they pay off the expenses of course....roughly a 3 year time frame to pay off the 5 or 6 bil investment,
just my opinion....... write this off in your head and this might be the aapl turnaround stock in the future that surprises your portfolio....but it will be a decade later to have a "realized" worth like malampaya<if at all ever>.
good luck to all.
thanks for your opinion but in my honest opinion it is only one of the options of working out and not the only option of working out. as you claim.......the philipine govt would have to submit sovereignty to do so and i dont see that as a wise or viable option as you do...........still i do concede that its one possibility under certain stipulations.
i am chimming in only to say that pxmff is starting to look attractive again as both a play for the longshot sc72 in limbo.......but moreso as the safe DIVERSIFIED PLAY as it has both a bigger stake in sc72 and a better bottom floor considering its other holdings.
fecof is still the bigger POTENTIAL upswide swing, all or nothing play, on sc72 but pxmff is the safer bet at current prices with a stronger floor and sweet upside potential......just my opinion.
Styl Gian
yes,,,,,,nice pop....When put in perspective........someones cash bet worth 3000 dollars worth of this stock has more doubled its market cap........so 3 thousand dollars traded somehow equates to a difference of over 3 or 4 million in market cap........welcome to bizzaro world of thinly traded stocks and the grand wizard market makers that call the shots.....................good luck to all.
i like the paper profits i just got but its all smoke and mirrors until I really need to unload my 1.6 million shares.
i believe part of that has to do with the fact that they were still openly trying to raise funds, even though the "time frame" for regular investors has passed. They must have sold you their own chunk of shares in the open market instead of depending so much on those filthy market makers with their outrageous spreads.
In many ways you have made a much better purchase in nido than in fecof and I wish you the best............Fecof is still the better longshot payoff with the all or nothing gamble scenario, and nidof is surely the safer/medium risk, and steady investment pay-out.
everyone would be jumping up and down if fecof went to 10 cents within a year due to current circumstances,,,,,,,,,,,when in fact Nidof can make that same 1000% increase to 25 cents in a more probable way with their current options of farming out, and without any contest of ownerships for their fields/service contracts.
5 year chart...........what a helluva rollercoaster ride.......do you guys remember when you all said " we wont see the 2's or the 3's anymore......and i said "never say never", only to get reemed by just about everyone on this board??
I was even accused countless times for being a basher simply because I forewarned to not chase a stock that will eventually go back down for the stalemate that china has caused thus far.
only two people or so had the courage to defend my "levelheaded approach" and I thank you for that.
to all the rest of you for giving me grief for my approach to this investment I have a few choice words for you...........and I am not one to say this but you definitely have it coming,,,,,,,,,,,so here it is.............: "I TOLD YOU SO" ..."I TOLD YOU SO"......."I TOLD YOU SO".
Now that I got that off my chest, I challenge everyone to RE-examine this stock and ask if its more of value today than it was 5 years ago.
we have a stronger possibility of gas in sc72 than before.........but a bigger roadblock with china than just awaiting a service contract approval 5 years ago.
the thing that sticks out to me is that even if sc72 is dead forever which is not quite the case yet......there is still value in fecof's portion of fep's value in future earnings from sc40 <galoc>.................
half a penny might be a good entry point on a potential turnaround stock as fep will be profitable once again due to sc40.
I didnt cheerlead when this was 3 pennies.........and i'm not cheerleading now either.............but this longshot is a much safer bet so much closer to its indirect value now that its about half a penny...........I say BUY..........and strong buy at .0037...............FEP>L seems to be bouncing off its low now too.
Good luck to all
http://ndo.live.irmau.com/IRM/Company/ShowPage.aspx/PDFs/1846-98814440/OceanPatriotRigCommencesMobilisationtoGalocOilField
regarding galoc..............the bread and butter for fep.l
i too have had bids for nidof ,higher than the posted bid and wouldnt get any action............i had to wonder if this stock was still halted but traded in some other way....................your post is believable and a testimony on how shady these bulletin board stocks trade..............Nido is more diversified than fecof in a substantial way...nido is also a big recipient of over 20% of the galoc oil contract which fep.l has only 2% of......and the farm out strategy should pay off wisely for them as well......
hopefully nido anounces some deals in play for farming out which will loosely keep fep.l on the radar for the time being..............glta,
nidof had a nice bump today....hopefully the area <west philipine sea> remains interested by other parties so things dont get out of hand
this is a link to a very good article that seemes to be published last year but seems more up to date then that......in the very least its a great summarry on how we got here and a good perspective on how it might continue to play out.
http://www.atimes.com/atimes/China/NE19Ad04.html
.0061 and what it means:
the fact that there was 100 shares traded down at that price simply means one thing.
its not an individual seller..........nobody would pay a comission worth more than the shares they just bought.
its obviously the market maker..... Why would he do that? Doesnt he own these shares too?
they are dropping the price so when one of us<real shareholders> have to sell, they can buy our shares at an averaged down price for themselves......they are cost averaging their holdings of fecof in the best way suited for them...
...the vig....the difference between the bid and ask is now roughly 33%..........reminds me of junk bond status in the days of micheal milken 25 yrs ago.
we are obviously not selling.........unless we are forced to sell....so thats a good thing for us if this sc72 ever turns out positive in years to come............. good luck to us all
i know of only two....galoc ,,,,,which helped forum earn a profit a year ago, and another insignificant onshore contract which produces electricity for a small city.< "cebu" sounds familiar >....the others are not being pursued....yet ...or maybe never, they may be worthless the way fecofs gold mine turned out to be worthless too......either way we had to raise funds just to get seismics for fep........
good luck
yes....and we also know some wars are over in a day....
look at the isreali - egypt war,,,,,,,,,or a better comparable would be what had already hapenned in the south china sea only 20 years ago, when china demolished its opponent in a matter of hours for the spratlies.
I am greek american and know very well how america turned its back on Cyprus when the Turks decided to invade and turkey tooke half of it......This outcome was all because the US didnt want to alienate Turkey and lose its American Bases there
......no major war will break out over a reef , not even for 10 billion in potential deposits.......and alienating americas biggest buyer of treasury bonds<china> at that.........
a sort of COLD WAR maybe.....but not moreso than that over sc72......it is more likely posturing and I pray that it will end in a positive conclusion in any kind for sc72 and fecof.......either way fep.l is worth close to its current price<because of galoc> and therefore so is fecof worth at least half a penny for galocs holding alone. I wont lose any sleep as the damage has already been done and there can only be a pleasant surprise for sc72 as it is now DEAD in the water for the time being......the odds are still not in favor for sc72 moving forward.
you are 1000% correct..........and the same is true on the upside if we are ever lucky enough to see large positive events in the far off future as in the event of drilling with chinas blessings<longshot>.........or drilling with usa submarines keeping china at bay <possible>...
but yes...anyone forced to liquidate their position right now will see less than half a penny......the market makers will not hold this up.......they have added enough shares over the
years.
fep.l tading at a 1 yar low and flirting with 2 year lows......therefor fecof is trading fairly in that respect well below a penny.....til optimism changes with deals and agreements being made.....this will be here for a while.
I find human psychology interesting....when this was at 2 pennies you had chearleaders shouting it couldnt get lower........and now that its where it deserves.....I dont hear people shouting for a strong buy anymore......when in fact its much closer to its real bottom and a safer bet now than ever......i'd say .006 you should average down somewhat and add a few.
i totally understand what youre saying and how you are feeling.......i too HOPE for the same but have to be very careful that my Hope is not part of the analytical evaluation on this investment or any other..........this is why i argued with everyone to wait for it to go under a penny where it deserves at this moment before even contemplating to add to this high risk situation.
Where i disagree with you is the confusing of nationalism with the obligation of protecting your countries sovereign rights for a mulitude of valid reasons.......the philipines simply cannot allow any acceptance of the ridiculous 9 dash line that the commie chinese came up with under ancient maps....they might as well hand over the entire country over to china if they did so....
our only hope of a step forward was/is for the chinese to back down under pressure from the nations of the world........have the chinese settle for a smaller involvement but by no means a co partnership infringing on phil soveriegn rights/borders........
the smartest thing Obama ever did was the pacific/asian pivot under strong advisement from his top generals........to keep chinas harrasment in check......the japan will arm themselves with nukes now too....so it will turn around one day just maybe not fast enough for us.............or maybe just in time.
db7: I understand your reasoning...............but its not fep who will lose their royalties but the philipine govt.........and their sovereign rights too.......once they openly allow themselves to be infringed upon by china then there will be no going backwards and thats why they would <in my opinion> most likely end this in a stalemate then to give china that priviledge and lose philipine soverignty "on the surface".
if this was only to do with a corporate decision i too would agree with you and say "yes, something is better than nothing...i know its extorsion but you got me by the balls so lets settle"........but politically speaking its suicide for the philipines so i just dont see that kind of settlement........It will totally depend on how far and hard the chinese will want to push or settle..........if they agree to the basic understanding that its philipine soverignty and law then they "might" one day reach an agreement.....but china is consistently saying the contrary...I wish it wasnt so....I am just stating the facts that everyone has read in "quotations" repeatedly from china and making a quantative outlook as in a game of chess.
I agree with eom....a new player brings some new focus to the table ...its good... but i think its very little to do with the outcome of sc72.......a few more multinationals in the area though might help sway the united nations to force china into a corner some day in the future.....so maybe its a start.
this stock is under a penny now which only 4 months ago people seemed convinced would never happen again....unfortunately though with this uncertainty and delay it deservedly so trades under a penny........a profitable fep even without an sc72 contract justifies a floor of half a penny for fecof in my opinion.........
good luck to all and i hope diversification kept you from getting sick over fecof.
freesilver is correct....the potential for future good news has increased a bit..........and an extension life span on galoc is better news than a shorter life span as the board uses these profits to line their pockets/payrolls instead of diluting hareholders with more shares to pay for expenses.........
is this the news that will bring us to 10 cents a share??? Nope, not at all...........but maybe give us a floor for some time being.....a profitable fep means a profitable fecof.............and in a weird way..........if we knew that sc72 was completely scrapped it would be easier to evaluate this company by having that financial risk taken away with its potential award....
I for one, am in this for the ALL or NOTHING scenario of sc72 and not for galoc..........but at least this company wont go to ZERO if sc72 is scrapped. FECOF MIght actually produce a penny in earnings in a combined 4 year span from galoc....and thus trade near its cash level of a penny per share , 4 years from now.....JUST A THOUGHT.
very good point,,,,,,,,,,America is a strong ally...................but do you really think the USA would go to war with its largest bondholder and a nuclear power at that? over territory thats not american? to do what? to have a base there? ....we already have a base now,,,,it serves americas best interest to have a stalemate there.....the united corporations of america do best when theres a cold war scenario and stalemate going on....this just doesnt bold well for sc72 right now................things could change but it definitely has more negatives than positives for the forseeable future.......getting the 800 lb gorilla <china>out of the way may never happen
and what chance in hell do you think the philipines have in a war against china?
this is a copy and paste of what you just told me to read on philstar.... and this is exactly why i always mention the risk with this stock and why its in no way a slam dunk ........the last line is key.......
"In addition to this, it said the US Geological Survey estimated in 2012 that about 12 billion barrels of oil and 160 trillion cubic feet of natural gas might exist as undiscovered resources in the West Philippine Sea, excluding the Gulf of Thailand and other adjacent areas.
However, the EIA said these additional resources are not of commercial volume.
“About one fifth of these resources may be found in contested areas, particularly in the Reed Bank at the northeast end of the Spratly Islands, which is claimed by China, Taiwan and Vietnam. These additional resources are not considered commercial reserves at this time; extracting them may not be economically feasible,” the EIA said in its April 3 report."
this article makes me wonder if that accusation toward pangilinan buying time for something that has no value is actually true. Just my opinion.
freesilver.....
I dont doubt that you read an article somewhere from some blogger or even a legitimate journalist who repeats halftruths and assumptions.......The problem is that china is contesting the entire area......all of sc72.......with their red dotted line that they steadfastly repeat and defend their position.....so it would be the journalst who is contradicting himself................
I am still holding long.............but i wouldnt add at this point/price as there is nothing in the near future< 1 year> that will cause this stock price or the company as well to move forward............this should lead to a lower stock price more like .0075 or even half a penny ..............rumors of a buyout when this is riskier than its ever been i think is unfounded and without reasonable timing........a stalemate situation/possibility of this never getting done , definitely exists today.
I actually hope you dont see any buyout offers which they can approve at a penny will ever be seen....they can let this stock drop to half a penny and then make a buyout offer at .015 and you<shareholders> will foolishly say thank you.
Most shareholders keep implying back to the 50 cent offer made before china built this wall between us and our investment......those days are over.....there is no way you will see a repeat of that......and what they fail to realize or accept is the fact that the stock itself never moved higher than 7 cents in all that time when the so called private placement was made at 50 cents...................things are not always black and white.........and we have selective memory too.............stop your dreamilke wishful thinking and be prepared to hold this indefinitely for one helluva longshot of this getting done.
I personally give this a 30% chance of getting done within 2 or 3 years and I reserve the right to ratchet up its percentage of success as they clear certain roadblocks and obstacles......til then it is priced right and should even be lower all things considering.
I might add a little more if it reaches .007 just to bring down my dollar cost avg............and then again it might be throwing away good money after bad...hopefully not..............no rush to buy this dog before that
just my opinion....good luck
it must be the weekend....everyone on this board is smoking crack cocaine again.
There is and will be no buy out offer at least for the near future .......... they <philex> and pangilinan already own controlling interests.....thats what those 2 million shares were for 2 years ago/....for securing their controlling interests while leaving the courts out of it by making a way over the top premium for those specific shares.
If this is worth 50 cents today then why is it still trading at a penny?? It may be worth 50 cents if china promises to butt out and concedes that there is no contest for sc72,,,,,,,,,,,,furthermore drilling that shows proven reserves before we even get to 30 cents. There are still big questions and hurdles here and our timeline just got pushed back indefinitely............so why the rush to make these claims now? wishfull thinking?
I'm not saying "sell".........but i'm definitely not buying here,,,,,and if you all remain calm you can buy more for well under a penny in the next few months as this dog lays floating dead in the water............at least until the us submarines come by and resuccitate it many months later
if not a full year later.
dont hold your breath til then.
bids going up? maybe the chineese have finally calculated that buying this stock in the open market is actually cheaper than the fuel to send their navy out there to protect their so called waters/claim.