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you may have a point......but its also fair to say you can simply buy 4 times the amount of shares than from when it was 4 cents,,,,,,,,,I had the unlucky timing of buying some of this dogs shares at 4 cents.......ive also added some at a penny which took some pain off the 4 cents....but only if it eventually goes up.
bottom line,,,,,,a single buy of a large 200,000 share lot at these prices is just a lousy 2 grand investment/gamble............nothing to be impressed with.............ive seen more gambling on a single hand of poker at the local casino.
i would love to believe that and i respect your opinion ,but......
but actions have proved otherwise..consistent , consecutive statements of the "reed bank/nansha islands".the statements re-iterating their insane 9 dash line maps..........the fact that they slammed into the boats during surveys....didnt apologize for it and instead landed boats on the island and attempted to build on it....dockage...etc....
they actually did this in a successful attempt on the other island near there where they set a military base on , ande expanded the civilian base as well calling it a city.
we already tried to work out a deal and China simply refuses to acknowledge sovereignty for reed bank/specifically sc72.....so basically they want to partner with pangilinan but call it chinese waters and see china get the royalties.....what a scam is that.
I dont think china is looking to take it by force anytime soon<reed bank>, as they seem to have backed off from that strategy.....bUT THEY seem to have a strategy now of bartering and getting some kind of payment or agreement to allow the philipines to drill in their own area.............kind of how italian maffia in new york did rakateering to the shop owners for so called "protection" in "their neighborhood".
anyways, not allowing us to drill or scaring away our future would be investors is like having taken this from us already. they have even harassed me as an investor <thru their actions directly to fep.l> to the point where i would sign my shares over for 4 pennies a share when ive spent all this time hoping for 30to 60 cents in 2 years or less.
anyways, good luck to all.
if china plays ball?
why would they play ball? whats changed?
,
why they should, i can make a list similar to yours
But why WOULD a criminal do that......a criminal "should" do this and do that..............but what a criminal is more likely to do what is based on his own criminal personality and not on your moral and intelligent analysis of what they SHOULD do.
when you play chess..analyze what your oponent is most likely to do.......not necessarily what you would do.........different strategies.....agressive...defensive......passive...etc.
china wants to grow it military might.thats a fact....their brainwashed masses support that idea of a growing chinese empire<as reclaiming lost historical rights <their maps> as patriotic.
great points.
the only thing i might disagree with is this quote:
"I also think it will probably take a while for the PI to get their military capabilities up to par, to the level where you might expect them to be able to succeed in defending themselves... by themselves. I think they are focused on getting there... and will succeed given the time... but, it will take time. "
I dont think the philipines will ever be able to defend themselves against the mighty goliath that the chinese military/navy has become......no matter how many years you give them to catch up.........it was front page news just a few days ago that the chinese premier was quoted as saying he wants china to one day surpass the usa in military strength/weapons and they will make that a new focus for them going forward.
Unless the usa leading the rest of the UN in an effort against chinas claim to the philipine sea is made clear with ACTIONS of STRENGTH......we might never get to see the end result in OUR FAVOR for fecof/fep.l...
if we got to wait till 2016 you will see this stock trade in decimals...<.003>....and by 2016 theres always the chance it will never get done......makes me wonder if those statements against pangilinan were true.....accussations about buying time to sell stock..........but he hasnt sold anything I am aware of..........
.........So how is it that my big investment turned into the most likely flashpoint for ww3.........what kind of luck is it that i have?? Ive been early on other investments too but none with so many variables and delays.
I can hope for china to go thru a japan type bubble bursting which might be unlikely.......but if it does happen....thats when maybe the philipines can finally start doing there own thing unharrassed with a little help from their friends.
guestimates anyone??
I dont see any near term future catalyst for a price increase in this stock,,,,,,,,,,do you? does anyone?
how long before some positive news to get people interested again?
how long is this un arbitration suppose to take? and how much would the decision effect the stock if any??
is this stalemate? dead in the water? is this why gse 101 <which became sc72> was sold to fep.l in the first place?
is the un going to actually give strength to this matter for the USA to support militarily going forward with drilling in this philipine sea?
i'm not trying to sound negative..........just trying to guage the feeling of where we are at right now............is it more negative than positive? My success ratio feels like it has gone down from 50% to a 25% chance on this stock.
would you add to your positions considering the current environment and the unseeable future?
there isnt much selling so I do applaud the strong investors who are steadfast.....................but are we any closer than we were 1 year ago today?
anyway....good luck to all.....just trying to stir up attention on a sleepy stock right here..........I would absolutely hate for our investment to be frozen in time indefinitely and all for nothing.
well.......this can be viewed in two ways....
philex is sloppy in uncovering true value of companies they majority control....including fecof and fep.l
or maybe in a more positive outlook....
they are so confident and focused on getting sc72 online that they arent worried about the small stuff.....and a 5 million dollar market cap in fecof going bust must be small considering they are willing to pump 100 mil in a project that could fetch them billions....
either way they shouldnt be just sitting on their asses......they should be unlocking value no matter how small fecof and fep.l is right now......they took care of their main house when they spun pxp into existence....they should do the same with their subsidiaries.
i dont claim to know the right way of going about it and i could be wrong......But this company <fecof> being a holding company cant do much.............it would have to be fep.l that would have to sheild its investments, specifically the galoc investment, from the loan exposure and risk for its sc72 holdings/dealing...........and this voting power to do so will come from philex.................spinning off their holding in a similar manner that philex spun off PXP into creation..................PXP protects philex from further losses that may or may not arise from sc72...............philex stock benefitted from that from day one.............fep.l the canadian company should think of doing that as well...
CONS: more administrative expenses
Pros : limited liability exposure if sc72 goes belly up for whatever reason.
2. Clear picture of what fep.l is still worth even without fep.l
just a thought.......what do I know?? I'm just a blue collar guy trying to win on a penny stock but trying to think like what one of the slick lawyer types would do to unlock value and asset protection from a future risky 100 million dollar loan for sc72.
the bank that owns philex <premier something> could foot a huge bill all on their own for sc72 but they simply dont take it all upon themselves because they limit their risk exposure..........by diversifying their risk exposure into smaller entities and not just the future of a single play like sc72..
I am still in it for that one single play of sc72.........but at a penny a share for fecof and fep.l at lower prices with no immediate solution with the chinese harassment /soverignty issue from china..............they<fep.l> needs to create value from asset protection and limit risk exposure in the legal ways offered to it from seperate corpation umbrellas
If this happens we can one day be able to say exactly what the short term floor is for fep.l with its cash and its earnings...............til then the floor must be zero as bankruptcy will always be possible if the huge loands taken out for sc72 dont bare fruit.
Forum's 2.27-percent stake in the oil field earned it $2.5 million in 2012, down from $10.1 million in 2011.
when we not only return but surpass the 2011 earnings of 10 mil..........in theory it would mean fecof has its 25% earning 2.5 mil a year..........and at a market cap <fecof> of 5 mil that gives fecof a p.e. of just 2.......
Its theory because fep's numbers will not be so with the loans taken out for expanding sc72........
if fep did spin-off sc72 into a seperate entity / corporation...it would protect its galoc earnings and give fecof a much stronger value...............in other words.........if sc72 goes bust after its loans< scheduled 80 mil loan if ever green lighted>.......it would only hurt that spinoff instead of the entire fep.l holdings with its galoc producing entity ...............the way it is currently structured its all riding on sc72,,,,a possible failure or failure to Launch for that matter will hurt this company....possible bankruptcy very likey if sc72 collapses after serious loans nearing 80 to 100 mil.
ironically though........a failure to launch would be less of a write down than the 80 mil possibly invested and a possible collapsed well,,,,,,,,
Dont get me wrong...I am betting that sc72 would be successful if launched with always a risk..........a malampaya.......but with a chance of a nidof type flop/collapse.
its obviously the uncertainty of this thing launching or not..and the risk of it launching and bombing.......
the uncertainty alone has this stock hurting more right now than if sc72 was just calling it quits without further loans...........
and therefore maybe the time to buy is now............just maybe........kindof like getting galoc for free but with a possible sc72 flop wiping it all out...or possible sc72 success making us millionaires.
like I said........a spinoff would make sense........but its philex running the show.......not fep.l.....and definitely not fecof............the real wizard behind the curtain is the BANK,...............this is chess,,,,,,,,,,,,,not checkers
maybe fecof should spin off its value of fep.l into a different entity.......making fecof less speculative in the process with its galoc producing shares............also eliminating risk on fecofs part if fep.l fails and doesnt repay the loans...... just a thought
it would be great if life as an investor was as simple as just equating 25% of what fep.l is worth.....
fep.l is on the aim market and is LESS accessible and possibly MORE manipulative in its stock price than that of fecof..............so maybe the true question should be......why is fep.l so overpriced and not trading at just 4 times the market cap of fecof.......
we shouldnt compare one with the other simply because price is set by supply and demand..... and both those stocks have different variables and in my opinion with limited liquidity and agressive monopolistic market makers.........
once there is oil pimping out in 7 or 8 years........the math will be easier to quantify at least its cash worth and equity worth.............til then it will be speculation and in different Markets the variables will continue to offset one stock with the other....
good luck to all
i'm hoping that the next big meteor/asteroid to crash into earth crashes down on china and giving them the devastation they deserve.
timing is the issue......................important issue at that.
does anyone know how long<approximately> the court decision in the UN could take..........any precedent?
as this thing will be done in stages if ever.......I do assume the first stage now will be to get UN court approval first.
almost 400 thousand shares at a penny is roughly 4 grand....
penny and a half would still be just 6 grand......
lets say it was just one person who sold it and the stock does move upward to 50 or 60 cents in 4 years or so in anticipation of the theoretical development approaching completion with confirmed reserves of billions of dollars......then this one person traded in a quarter of a million dollars for trying to time the market and his impatience will have cost him his sanity too.
I will stay long as frustrating as it may get....I just consider it lost already so i wont get frustrated anymore and be hopefully suprised in 4 years.......I dont want to add anymore but at sub penny it sure does look tempting.
Lastly,,,,,that volume reflects at most times twice the action as the market maker prints the shares he buys and sells as the middle man.
cant blame you Johnny.............dont think this will be much above 2 pennies anytime soon considering the self confessed timelines............... I dont like trying to be a market timer myself..... I will probably only add some more shares if under a penny again although thats easier said than done even when the bid is at .008...................
the price-swings is due to the fact that the market maker has this stock in a stranglehold and will not allow it to be more liquid................ unless we get more market makers on this stock........... which unfortunately wont seem to happen til the hopeful day when we trade above 20 cents if ever.
3 week old article but still relevant in that it shows the mindset and stage /thought process of pangilinan
Forum Energy Drilling Facing Delays
January 17, 2013, 4:14pm
The continuing diplomatic skirmish with China will be ‘the ultimate determining factor’ in the new drilling timeline that Forum Energy would draw for drilling program at its Sampaguita block.
Philex Petroleum chairman Manuel V. Pangilinan noted that the drilling schedule will “still be dependent on the issues in China.”
Philex Petroleum has majority equity in Forum Energy, the holder of Service Contract (SC) 72 for the Reed Bank petroleum prospect.
Pangilinan confirmed that the company already sought formal extension from the Department of Energy (DoE) on their drilling schedule.
He added that preparations will take some time, therefore, they cannot give a definite timeline yet as to when they can finally proceed with their drilling plans.
When asked if things could still happen this year, Pangilinan forthrightly admitted that it may no longer be feasible.
“I would say unlikely given that the weather window is March to April and it takes awhile to mobilize; because in a work program, we need a survey first onsite to determine the sea basin for stability for an oil rig,” he said.
Pangilinan added that the rig should also be of a certain size and weight, plus there is a need to assess the “ecological characteristics on where we will drill, that’s the requirement of government so before an oil rig can be put in place, we will need this survey sheet to be there to determine these two things.”
He similarly noted the need to evaluate “the stability of the sea floor to support an oil rig”; and as things stand today, the company has not moved forward yet on that.
The company has already earmarked $80-million budget for the drilling activities which should have started August last year.
Nevertheless, it had to secure the government’s imprimatur for it to defer schedules pending the resolution of the country’s diplomatic issues with China. (MMV
thank you for the nice words.......
I dont think i offer much insight..............Downsideup has actually given me an education with his breakdown of this industry with his posts< many months ago, technical terms and stages>...<proven reserves...etc.>...
..The only thing i try to offer is a more balanced approach and realistic view of risk assesment of this stock when some people might get overly excited and a bit too optimistic disregarding all the obvious risks.
I knew this would be later than sooner if it ever got done but I too am a bit bummed that it will be even later than i had expected. I guess on the flip side we shouldnt be totally ungrateful that this project is at least still alive ....we take it for granted...........
.........i know vietnam and china had their issues and people have seen their investments disappear there.
this will be long but an investment that can turn 2 cents into a dollar is an investment worth holding onto even if it takes ten
years......
I too would love to see a fortune overnight............in a year or less.........but thats what buying a lottery ticket like powerball is for.
good luck to all.
i would have to disagree with you.....
a hostile offer from an outside company is not probable.
fecof is majority owned...51% or more by Philex.......its not completely out of the question but i do think its unlikely that philex would try to squeeze us out on some 3 penny stock price offerring right before we drill for Verification on the quality of oil and gas down there. there must be some canadian law out there that would charge them on insider trading before all the info is made public to verify fecofs true worth in fep.l<thus drilling first>.
we did get shortchanged when fecof sold 51% to philex originally but you can argue that this was done before it became a service contract and was still a looooongshot....was a loooonger shot than it is today......also yu can argue that philex buying t guaranteed it into becoming a service contract with certain tax benefits to be had.
but then again, what do I know???
true....revenue can go up for fep.l...........lets just say for arguements sake fep.l does actually double its revenues and even their profits at that.........which they actually incurred expenses for the expansion....but anyways.....we are talking just 25% of that value will or should reflect itself in fecof.........so justifying a stock at .015 cents for fep.l's or galoc's revenue value is now roughly .025 to 3 pennies......in theoretical value......
if fep.l sold its contract for sc72 or even scrapped it you hold a very strong arguement revenue wise long term..........
the thing is the great opportunity that sc72 holds in store for us could also be our deathnail if those oil wells produce water or cant hold up during drilling in the same manner that nidofs last project imploded on them...causing nidof's share price to go from 16 pennies to 2 cents....
in summary...... no matter what revenues Galoc will produce........the debt we will have for drilling sc72......just the initial 2 wells..........will be roughly 80 to 100 million.......enough debt to completely wipe out any profits we could expect from Galoc< in the form of interest payments for those debts>..........sc72 if unsuccesful can and will bankrupt this company but i am ONE shareholder that gives this company the o.k. to roll the dice on sc72 and hoping that in comparison to Malampaya.....we too will be successful.
Please make no mistake.............this is WIN BIG or LOSE IT ALL on Fecof.......Galoc makes us look like we are sitting pretty now and securely, this is false.. and i'm glad to have it Galoc but its no savior alone..... this expensive gamble on sc72 is as they say in POKER....ALL IN...............and if you have a losing hand you will go home completely BUST.
in my opinion there is no way that if sc72 is a bust after an 80 million investment that this company can survive.....galoc revenues/profits quintupling wont save them.
anyways.............lets hope all goes well for sc72 so we can see a dollar in 4 or 5 years........I am actually sitting on 1.3 million shares myself.<made my holding look like 50k with the glitch two days ago>..I averaged down a bit but i am overloaded on this stock.
good luck to all.
not exactly dog......we could see it moving in 2014 with anticipation to drilling in the winter of 2014 or the actual succeful drilling itself......maybe 20 to 30 cents if this happens....
.i say winter season because they dont do these things in the summer due to harsh summer weather conditions.....hurricanes, tsunamis..etc....they also gotta lock down a rig reservation and hope CHina doesnt torpedo them by that time....
on the other hand......its possible it gets pushed back again in 2015 if China is still doing this Stalemate crap that has actually been working out in their favor til now.....
this is why i would get Piseed at this Board for calling me a pessimist on my previous posts, when in fact all my warnings have come into fruition dispite me hoping for the opposite.....
THat one dollar plus a share we all hope for .............if at all will be realized....will be 5 or 6 years after the initial drilling in 2014 or 2015????.......in otherwords..........maybe by 2021 we will see a dollar a share, maybe a buck fifty, if EVERYTHING finally goes our way......thats a helluva wait but percentagewise from under 2 pennies to a dollar would be one of the alltime great moves in penny stocks........and one thats not being a pump and dump .....with actual staying power above a dollar.
if you want to go long.........consider it lost on this gamble so you might be happily suprised in 6 or 7 years.....diversify on other stocks going forward because this will put you to sleep fast.
good luck.
pre market trade for what? 3000 shares at 3 penies is 90 dollars..........why would someone need to rush in before market and buy 90 dollars worth of shares at a 50% premium......you should always question these actions.........its usually a prelude to a dump..............pump and dump............get the price to move artificially higher by the market makers in anticipation for a large block sale unloading at a much lower price......
just my opinion.
very misleading price quote of .029 when ask is at .019..............i'm sure it makes all of our accounts look much nicer on PAPER but thats about it..............why did they even bother to print that lousy 3000 share block at an eronous price? very strange indeed
very misleading price quote of .029 when ask is at .019..............i'm sure it makes all of our accounts look much nicer on PAPER but thats about it..............why did they even bother to print that lousy 3000 share block at an eronous price? very strange indeed
this stock has recently erased some of its smaller hurdles although getting the extension wasnt a guarantee,,,,,,,the govt could have refused.........and then had ALL of sc72 to bargain with in the future....anyways i'm glad they didnt try any funny stuff........
the really big hurdle and possible death nail is still chinas iron wall and bullying.
all things considering the stock should be trading closer to .025 on the charts since we see china at least willing to negotiate and reconsider,,,,,as well as the phil govt getting the legal process going with the UN.
yesterdays volume was a joke and should not have moved the stock so high in one day but regardless all things considering with recent developments this extreme high risk stock is still more fairly priced at .025.....not saying you should rush in and buy it all in one day...i think sub .02 levels may exist on NON newsdays for a few months and possibly a year more.......this stock doesnt seem to sell on the news because its priced so seductively for its potential reward.
just my opinion.
sounds like boiler room movie type news................be veeeeeeeery weary
if its going down on low volume <fep.l> its most likely the market makers bringing the price down to load up more shares on the way up....thats just the way they do things with thin floats,,,and they get away with it easily.
I wont be looking for those things as I already know that any negative news like the small possibility of unrecoverable gas and oil in those deposits would NOT allow me to get out with its low volume and volatility,,,,,,,,,,so basically i already know i will hit it large or have a total loss with this stock.........just my realistic opinion, i dont think any of us will have time to adeqautely respond to anything potentially negative on the way out.....same extreme is true on the way up......price can go up quickly as others wont be able to purchase large shares/amount on a drastic move up if exploration confirms a high quality find.
dear johnny boy:
quite simply............from your mouth to gods ears.........you put it in perfect terms.........both outcomes are still possible......unfortunately....and when someone is overly optimistic i simply balance it out and voice it out so i dont overlook the potential downside as well and do something stupid like max out my credit cards to buy fecof..............believe you me, if we hit a brick wall...which i pray we dont, i wont be saying " i told you so"........i will be too busy crying because i will have lost a ton...............
........I am still in not because i love gambling but because this is as good as any high risk high reward scenario ive seen in years...........apple being the other company 15 years ago which some effing analyst convinced me it wasnt worth the risk with all its debt back in 1997.......when carlos slim was jumping in.
anyways............i am also "betting" it gets done is some way..........i just dont think it will be as fast as you expect..,,,the phil govt will struggle with the proposals as well........may even be blocked by the house.....or china refusing to go with phil soverignty and phil laws...........
this is still up in the air but the opening dialogue is a start for thawing out the cold war this last year.
best of luck.
still just words
but i must admit, thankfully, its more encouraging to have this current dialogue than the stalemate china expansionism i was reading in the past.......someone was put in check..........i wonder if the U.S. battleships have anything to do with it......
still a looooong process to be had.............what good would it be if they drilled and china did a doublecross and took all the oil from a willing bafoon..............i agree that it has to abide completely by philipine law/ownership................otherwise its just the chinese being crafty again.
johny blaze...........
with all due respect, sincerely<
there is a tiny ray of light in the chinese attitude,,,,,,,,definitely a positive there.......but as you can see in the previous article posted just before yours,,,,the house is split.......most phil politicians understand that its playing right int the chinese strategy of harrassing their way into an exclusive zone of PHIL.......and the other half simply dont care out of fear and possibly pleasing china for future better relations................the best solution is probably somewhere in the middle between that..........as long as its the philipine govt that loses some of its share and not fep.l ,,,,,,,,,,which i think would be hard to get this closed without serious repercutions to fep.l's original arrangment if they reshuffle everything.
2 choices.
hold out indefinitely for better outcome or no outcome at all as we wrestle with china
or
give china a piece and remove a big obstacle of an all or nothing scenario ....less risk will make the stock go higher that is a GIVEN.
seems the chinese were intelligent afterall in their harassment,,,,,,,,phil is considering something they would not have considered at all before this harrassment.
lastly.........when the rigs go up....its a 6 year development......its in the sea my friend.......go look at their own statements where they actually say 6 to ten years for development...........
anyways, good luck to us all.......this will still be a very huge process...
as far as percentages up...........this stock had risen to 7 cents and came back down to 1 penny......be careful buying into false or premature hopes and agreements.
good luck to us but that one article about a single sentence spewed out by the untrustworthy chinese is nothing to base a future on.....show me actions, agreements, and contracts first............weve jumped the gun on this stock for 4 years or more.....first with gold and then sc72............I have 1.2 mil.i added shares around .014 months ago to average down, but i wont be adding anymore...............Nidof is a great investment even if they take it private and go public again in 2 or 3 years,,,,,,,,,,they are solid. and much less speculative than fep.l/fecof
Negative??? SO when is it that my realistic and factual analysis is viewed as negative?.......and your cheerleading on a single sentence is not HYPING FOOLISHLY??
I am long and hopeful but lets not jump the gun anymore and make outlandish statements of a dollar a share within 12 months from REVENUES from sc72.........................have you even ever read the prospectus before? the company statements.................revenues in 6 years or more when they are ready for the commercial side/profits/revenues.
Yes, pinkies can jump from 1 dollar to 3 or 4 dollars.......thats 400% or 500% points,,,,,,,when you are at a penny and a half,,,,,,,,,,,,you are making a one in a million claim for it reaching a dollar within 12 months,,,,,,,,,,,,,,and on false pretense nonetheless,,,,,,,drilling with revenues by 2014 is an impossibility..................at least be more honest to yourself.
You should add forsight to your judgment of me because this stock has stayed low like i have said it would multiple times.........this will stay below 10 cents for 3 or more months until the possibility of a partner is reveALed..............anyways, good luck to us all.
wow......I am glad to say i am immune to "just talk" over this stock..............show me!!! dont tell me. i mean REALLY SHOW ME
Johnny I am long like you but on what planet is fecof drilling on where they will "actually big revenue" all by the end of 2013???
in a hypothetical very very best case scenario,,,,,,,,,,,,,,,,,,,,where all obstacles are removed, green lights all the way despite giving a sweatheart deal to the enemy,,,,,,,,,,,
you wont see any BIG revenue for 5 or 6 years after completion!!!! ........Once again thats if its actually reachable, quality and cost efficient Says the company itself.....
so in this best case scenario the simple and most important question is "what do you REASONABLY think this highly speculative stock with high reward can TRADE at with the China situation/ harassment ON HOLD or even removed??
thats a big obstacle removed.............but last i checked we didnt pass 8 cents when he had all this info before the China Harassment case.........but also with due respect it was before the 3d imaging as well.............so what are those two biggest variables worth to the current trading price in 2013.........and thats a Big IF" china allows fep the FULL ownership rights it currently has today.
partnership anouncement at 10 cents is actually a ballpark fair guess that i could agree with you on.......only drilling verification of the exploratory wells with a great result will get us above .30 cents in my opinion.....commencement alone is a nonissue as the risk is still there.
big revenue in 2020 could get us to a dollar.............your 6 years too early on your call.
.....end of 2013 with all green lights<overly optimistic> and MAYBE we could have 13 cents............you are simply better off anticipating hold ups and suprises with this company and taking that variable into consideration as well.
i had my broker look into the form for me to buy more as a current shareholder at .027.........but they couldnt get it back to me in time so i'll buy some in the open market if it ever trades again....it looks like its going private for a while....i own shares at 4 cents....was ready to buy another 5 grand at least but my broker was telling me its for ausie citizens and some other nonesense before he finally sent me paperwork yesterday well after the deadline.........oh well..
thank you very much eom.....Nidof seems more promising considering the absence of chinese harassment on their claims.....Fecofs price looks good here , but not as attractive as Nidof, with so many hurdles left for fecof/fep.l.....I'm guessing you own some NIDOF too. good luck to all of us.....
i will try to focus on other things as the waiting game for fecof just becomes frustrating......maybe if i get back to this in a few months there might be better news. I must admit India showing support is a big plus, the more the better as China cannot harass everyone united against this harrasment and expansion contrary to UNCLOS...... Losing Hillary Clinton is a minus as she showed strong focus on this matter.....I hope that the replacement will also hold this issue in top regards.
GLTA
i would hope so........... but what are they waiting for?? even the philipino govt. themselves is frustrating the situation when they fail to do a simple thing as file an extension and approve it on behalf of Philex..........a mostly govt. owned company.
I guess one EXCUSE is they dont want to make the chinese angry yet by showing they will follow thru on this project,,,,,,,,,,,eventually.......with pushed back deadlines and expirations...................but i say thats a bad excuse if its that.......just approve the damn thing already and put this simple procedure to rest, we have enough problems and obstacles on our plate with fecof........
and just when i was growing my position in NIDOF its been halted for weeks now ....
anyways.....thanks for letting me vent out a little......I have lots to lose on this and dont want to see the govt. hasten the situation for the worse.
we are closer than we were two years ago,,,,but we are in noway closer than we were 6 months ago................all you have is a stalemate right now with no difinitive plans with set/ immovable deadlines..................Last i heard we were waiting from the Philipine govt. for an extension because of this stalemate i'm talking about and we havent received that yet for whatever reason...........until we at the very least receive the extension from their own philipino govt. for this project.............then we are actually moving in reverse,,,,,,,,,These damn poli
ticians and the fecof / fep.l board need to get on the BALL right away and get things moving again real effing soon or they will lose credibility.............what good is sc72 when it EXPIRES under contract?
you are correct kentcrek....this is why i invested here in the first place,,,,,,first with the LIE of a gold find.........but then I added with the real number crunching for the speculation of succesful drilling so close to malampaya......but this China obstacle poses an unforseen variable and a big wrench thrown into the whole mechanics of it all.......I just hope it really pans out well for us.......dragging out the slow movement, doublespeak and sidestepping still remains frustrating.....
I'd rather add on my nido investment going forward, at least i dont have the china crap to deal with on that one..........but yes, this can still turn out to be one for the record books within a 5 year hold if we hit the stages necessary.
uuuugghhhhhhhhhh....
simply the gut feeling of the drawn out process and high risk of this investment.....even my Nido play has been halted with no word yet..............i swear you got to have balls of steel and the patience of ghandi to see this play thru for better or for worse.......good luck to all........You all know what i want for christmas......i can wait for next christmas but it really should have been this one. GLTA
when is this going to trade again??
its been halted forever..........any news yet on a secondary?
finally someone else with somewhat of a navy and a nuclear bomb stepping upto the plate..........India is showing some Balls.....good for them......good for us.
good theory and you may be correct but its hard for me to believe that the fecof board doesnt go with philex on ALL their decisions since its a majority owned and an infiltrated board by philex themselves.
either way EOM stated correctly that they have the cash to pay it down for now......i just hope thats the way they go to avoid dilution.........also its good to note that they do have a high burn ratio....about 300 grand last year in negative cash flow so they need some effing good news soon........
This china dark cloud is whats killing us....if only it would start to break a little then we might finally see something positive......otherwise this stock may be a dog for many years....maybe forever.
i adressed that article before you posted it.......
that had nothing to do with a margin call or repayment call.....it had everything to do with securing majority ownership regarding possible dilution from BASIC at that time.
to bring that article up is false optimism and bad comparison.
Well i'll tell you what.... if you think Philex pays anything above 2 or 3 pennies for this stock < nowhere close to your infamous .50 cents>.... when my guess is actually .015...........well then you can punch me in the face at the next shareholders meeting. I'd gladly take a bruise in the face rather than another dilution of a my large investment.......i just happen to be realistic db7......thats all.