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you are correct...last time this idiot spoke he bundled up the whole thing in his last speeche.......i guess he read my post and decided to clear things up and specifically mention the reed bank as seperate and not to be negotiated. It would be a slam dunk if we could hear the chinese agree with that statemement.
another thing of interest is it sounds like they are still doing things on and about sc72 when they mentioned those planes flying by.........its a curious afterthought. No newsrelease to verify any ongoing activity in sc72.
“Reed Bank is in western Palawan, that is ours. We’ve been trying to get this out, please do not mistake that Reed Bank is part of Spratlys because that is quite far and that makes a big difference because Reed Bank is not part of the disputed area - there has been no question about the ownership of Reed Bank,” Valte said.
The two Chinese jet fighters reportedly buzzed two Philippine Air Force OV-10 Broncos on routine reconnaissance patrol in the area on Thursday last week.
its kind of funny to see one sentence say "theres no question to it" and then the next sentence shows a military action insinuating otherwise.
Its good to see the philipinos standing thair ground VERBALLY, but it would be GREAT, not just good, if they can get the chinese to echo those same remarks....IN AGreeMent , thats when we go back to 6 cents............and possibly higher relating to other news pending.
do you know if any one of those areas up for bidding are anywhere near or close to sc72 as far as both proximity goes and of equal distance west of palawan? thanks
Military sources revealed the two OV-10 Broncos were buzzed by Chinese jet fighters over the Reed Bank Basin, where ongoing oil explorations are being conducted by the Philippine government in partnership with several foreign investors, including a United Kingdom-based energy and oil exploration firm.
defintely talking about FEP in that quote.
sometimes you need things to get worse before getting better...........
at least this conflict will bring about some kind of resolution rather than just stalemate out of fear.
I like hearing that quote of 440 million barrels of oil reitterated.
Does anyone know if the other asean countries agree that sc72 is in the philipino waters rather than a buffer zone?
End of book doesn't give a clear ending. SC72 and all the Spratly Islands issues are not solved but bargaining has begun. Book highlights interests of Chinese and the fact that there are many Chinese living on some of the disputed islands
theres lots of mexicans living in l.a. too but that dont make it mexico....just kinda starts to look like it in some parts is all.
yes...that was the veritas voyager doing the seismogram for fep on sc72 and sampaguita.....fecof owns 25% of fep so yes,it was ours.....philipines sent planes but got there too late.......the 2 gun boats were gone..they also sent david hasselhoff on a coast guard dingy but he couldnt paddle fast enough to get there..... To FEP'S credit....they finished the seismogram just 2 or 3 days later....I'm still suprised they did so after chinas threats.......China, instead of apologizing, seems to just be letting time go by so people forget how disgusting and dangerous they really are.
The fact that there will be more investments off the coast of Palawan potential offshore oil/gas fields has me hopeful........I just hope there is another service contract awarded out near sc72.and even further out..so we are not the only company that is in this dilemma alone...as to how far out the philipines have international water rights.
glta
I'm not the authority on this Jsperrez....but it seems like the more seasoned investors on this kind of oil company stock have suggested that a 3d seismogram could take around 4 months...so two have already gone by...another two I GUESS......even though this is still a risk for stalemate, you got a nice add on Monday considering the risk reward scenario......Just consider this a high risk investment from here on out...not something you put all your money into.
.....and although the chinese are acting weird and hard to figure out.......they have also made statements..even if sometimes contradictory, that they want to resolve the south china sea so everyone can explore the opportunities there. There will be a conclusion to this eventually.......but how soon?......and in whose favor?, nobody knows for sure.
The risks are....Stalemate......Time runs out and they sell company to philex for pennies on the dollar......maybe 2 or 3 pennies......The chinese could demand for half of sc72 and The Philipines might get bullied into agreeing into that settlement,,,,,,,,,China is at a point where they continue to bully themselves into getting more than the law allows them to, or they can act diplomatically to market themselves more wisely as a world economic power.
dont leave me on a cliffhanger bob..how does this story end? Is there a happy ending for sc72 or is it the beginning of worldwar three....or just a freekin stalemate where i file for bankruptcy? where in the book are we now? chapter 11?
As a member of OPEC, Kuwait owns about 10 percent of the world’s proven oil reserves. Its reserves of 96.5 billion barrels are expected to last more than 100 years.
at 100 dollars a barrel.......... thats about 10 trillion dollars in equity.....thats americas problems and debt going away overnight....
forget afghanistan and iraq...lets pull out of there and go invade Kuwait already and be done with it.
in all seriousness though..I hear they charge their citizens only 45 cents a gallon.......we liberated them in 1990 from sadam hussein.....couldnt they fix us a price at a dollar?? I dont like donald trump but he brought up this same point..charge people for the expense of us liberating them........call it the spoils of war....i dont care...its only right......Bush had said hed charge iraq the cost of the war in their oil and then he renegged...........its like they want to completely bankrupt us on purpose....its disgusting.
best solution is to find a new way to harness solar power/energy and then let the arabs swim in their oil..and then throw our corrupt govt. out into the streets too.
the day is almost over so i'll go ahead and consider it a close.......
the combined total in cash trading for 2 days is less than 500 bucks.......
although nobody is buying..nobody is selling either.
if anyone puts in an open buy order for 100,000 or more shares ... 2 to 3 grand or so in $$ at market this will go back to 3 cents right away.
Badgerbob has removed fecof so we lost him..hopefully not too many jump ship just because this goes back to 5 ot 6 cents....if we hold firm, and positives are finally anounced, we can go northword of 30 cents or so in a few months.
I put in an open buy order at .018 <50,000>just in case the market maker is ballsy enough to drop it again, i'll pick it up instead of him.
jmho, glta
yes jsperrazz...
thats what china is claiming with very few words..they cancelled a meeting with the philipines about the subject.....it was an international incident with gunboats aiming at the explorer vessel veritas about 2 months ago.........They finished the seismic a few days later anyway..the philipines asked for an apology and china in return says that because they own the spratly's a.k.a. nanshun islands..they own that territory..........but according to international law and the economic zone it shows sc72 to be closer to palawan.....They dont challenge malampaya but the do challenge the reed bank.
So basically we have a stalemate here.......... It will be hard to get a partner to continue drilling without a diplomatic resolve from the nasty communist govt. of china. Theres a slight chance china knows they were wrong and is trying to save face by acting tuff and avoiding apologies...they want their bully image to stay intact. Commies rule thru fear..not respect.
for what its worth..
with fep, the main reason behind all of us investing in fecof, is still hanging around 50 give or take......
No big volume there to justify or indicate any serious worry of investors over there.
Our holding in fep should be reflected around 2 to 2.5 pennies just in fep's price.....thats off the top of my head if i remember correctly....definitly more than the laughable .016 which it isnt even trading any shares under....
and although we got our share in fec reduced by 50%...and the lascogan project was a bust..its still additional value there.
it hasnt been cheaper to buy fecof over fep for a long time <months> so its a safer bet and way more attractive at these prices.
I'm fully invested in this,,,,,,if i could add more i'd be buying today...if its still here next week..I'll add another 50,000....good luck to all
if t was down to two cents on high volume i'd worry more..........this can go either way.
Ive seen market makers drop the price on microcap stocks hundreds of times, especially before earnings reports or a big news event, to protect themselves from a big drop and position themselves safely and profitably for a big move higher.
That news release , even if it confirms the " proven" figures wont be as high or as big of a catalyst as we'd like,,maybe 7 cents...to 10 cents temporarily..........the real catalyst would come from news of finalizing a bonafide partner/investor since we need as much as 3 bil to develope this.......the expense is mindbogling and i'm using their figures..maybe they can cut a bil off that if we go with shell and hook up to their existing infrastructure....and cut our timeline in half too which means profits sooner.
glta
FEC Resources, Inc. expected to report Fiscal Year 2011 results on April 29, 2012. This event was calculated by Capital IQ (Created on May 15, 2011
hey Kent....Why are you so bent on pointing fingers and accusing people of insider trading?
Ive made calls before to investors relations and made a decision on buying or selling based on what they told me...didnt tell me...the tone of their voice....the lack of information and correspondence you would expect from someone. The gut feeling after your talk.
Ive said from day one that i didnt trust philex to do the right thing and all of you kept referring to the 50 cents...calling them an angel for it.....I decided against my better judgment to start adding at 5 cents not forseeing this chinese crap from happening........that would have prevented Philex from a lowball buyout,,,,,but now they may very well take the opportunity to use it to their best advantage of buying the shares of fep they always wanted, indirectly by buying the rest of fecof on the cheap. i dont think the sec will run to the rescue of a small cap stock like this,,,let alone go after premierone because you losely throw the term insider trading around.
its interesting that philex is near its highs...FEP is still holding up well..while the market maker in Fecof is dragging us all the way down. glta
what was it that riaz said or didnt say that prompted your decision with amazing market timing? Are you not at liberty to say?
Are you also suggesting in some way that our 25% in forum is or will be reduced much further?
heres some numbers we had just 3 months ago <i think they typed in the wrong date>from a quote.......
Firm to invest $100M in Palawan gas project
By Amy R. Remo
Philippine Daily Inquirer
First Posted 21:03:00 05/23/2010
Filed Under: Oil & Gas - Upstream activities, Contracts
MANILA, Philippines—Oil exploration firm Forum Energy Plc is expected to invest $100 million (about P4.5 billion) over the next three years to drill three appraisal wells in the oil-and gas-rich Sampaguita field in offshore Palawan.
“Within 18 months, it is expected that the company will shoot further 3D seismic survey, which we have assumed to cost $10 million before drilling the first well. Our financial model assumes the company drills a further three wells at a cost of $30 million per well,” according to the Edison Investment Research outlook.
According to the document posted on Forum Energy’s website, the company is expected to focus its resources in assessing the Sampaguita field, which is estimated to contain at least 3.4 trillion cubic feet of gas, with an upside potential of as much as 20 trillion cubic feet of gas.
Developing the field is expected to cost $3 billion, according to the report.
The field is under Service Contract 72, which covers 880,000 hectares within the Reed Bank basin—some 150 kilometers east of the Spratlys and close to the main island of Palawan.
Aside from the large Sampaguita gas discovery, the company said the SC 72 field contained at least eight other potential leads.
The resources within SC 72 were believed to be enough to form the foundations of a liquefied natural gas (LNG) project, similar to the Malampaya deep water-to-gas power project.
“There are several options available to Forum Energy for marketing the gas produced from Sampaguita [such as] establishing a new LNG export facility, building a pipeline to access capacity in Shell Exploration BV’s existing infrastructure at the Malampaya, and selling into the Philippine market,” the report stated.
“The outcome is partly dependent on how much gas is proved up. In our valuation, we assumed that Forum will establish its own LNG export facility to serve markets in China and Korea,” it added.
“However, given the level of reserves already firmed up, Forum is likely to attract attention from major oil companies that may well have complementary infrastructure, such as Shell,” the report said.
It was only in February this year that the government granted Forum Energy a service contract for Geophysical Survey Exploration Contract (GSEC) 101.
thank you very much wahoosier for replying to that open question....
I am not insinuating anything..truth is that although I understand stocks and trading very very well....I am a total novice in this area of oil stocks and dont know the terms or process very well. I have heard the term "proven" continuously for sc72's 3.4 tcf, but i dont know how accurate or the validity of it can be.
Is "proven" a term they can use in a guestimate or is it undeniably factual ?...how accurate can their proven figures be with the drilling of one well? I will be extatic just to see 3.4 tcf confirmed.I dont need to see a higher number.....anything 3tcf or higher will be a watershed for a stock trading at 2 cents again. I would think though that the 3d seismic would be totally accurate and an evaluation like that of 2006 could be flawed.
glta
yeah....
so the market maker got roughly 100,000 shares at .017 and is selling them at .02 before the close...thats what they do.......100,000 shares is roughly 2 grand.
then again.maybe someone bought 4 grand worth at .4 cents last month and is getting scared out and selling at 2 grand.....not a big issue.....yet.
not a bad theory.......its possible....but theres no real shares or money trading now.
so you think Philex will offer how much to fecof...or will they just anounce that their infiltrated board agreed to this X amount of money and its done?
Obviously its just your opinion but i'm still curious as to how you evaluate things possibly playing out in real life.
to be honest......
it would have been amazing if this happened to a large cap stock...........these things happen very often with these microcap stocks.....especially if there isnt a continuous effort through marketing to promote the stock to keep money flowing in with new investors or institutions that add to their positions regularly. The market Maker, especially when there is just ONE like in this stock, will keep this low as he plays the middle man...and if we are lucky enough for something positive to finally be anounced..he will then be able to actually take his own long position when he sees strong momentum and volume on the buying side. Its the most amazing way to legally fleece investors...manipulate a stock price, be an insider and not worry about the s.e.c.
I am gonna stay long as I lost my chance to get out at five cents,Ive actually doubled my shares on the way down...Now i wish i held out for this price instead........this is still a good risk stock as long as its not more than 10% of your portfolio......Things are different in that this is a service contract now.......but its also tough to know how this will play out politically......as well as financially and if they will dilute sc72 ownership anymore to keep going..I would hope not, but hope is not a good strategy.
Some people remain strong that philex will do the right thing for Fecof, but in all my 20 years experience i have never seen a corporation look out for another company, even a subsidiary, more than it would for itself and its directors........if it benefits them to get total ownership of fecof <100%> on the cheap.....then they will try to do exactly that. They only paid 50 cents before because it was only 2 mil, and they had inside information of the service contract before going public. Hopefully they anounce something very positive about sc72 so philex doesnt get a chance to buy us out at 2 cents again like they did 3 years ago.
glta
yes.......you can blame it on the easy manipulations of the market maker........and you can also blame it to the fact that theres not enough buyers or investors in this stock....If its shareholders thought this was going to 50 cents and that sc72 would eventually get done.then they would add every week or two....averaging down....even just a little would help since the volume is so low.
So far though the drops were precluding the negatives about Lascogan and then about the BEC deal........hopefully its not foretelling about sc72 as well....maybe the market maker wants it low to find a buying opportunity for himself if its positive,,,,,,,this can easily go either way.....release should be due very soon by fecofs timeline that means about two months or less.
Not a good way to start off the week for me to see so much in paper losses.......GLTA
No disrespect taken,
["i]I don't believe in my 70 years of investing I found something this good that wasn't someones hipe or someones dreams."
Its still a dream without the billion needed in investment...same cost as malampaya.....without a partner its a pipedream.......and you seem confident they will get a partner despite the chinese obstacle and bullying....when in fact they didnt even have an offer yet when china wasnt even an issue back then..........I'm not saying its impossible.... I just dont think you should be as confident as you sound. Goldmine was a bust...their income just got cut in half....and the chinese threaten an entire country over sc72....not so rosy if you ask me......I still added 30,000 shares to average down a bit today.....so as you guys bash me for being careful and honest, why wasnt anyone scooping in today?,,,,,,, doesnt look like most are adding....so without the right support you will see a penny again..I cant hold it up by myself....good thing they dont allow margin on this...they would have squeezed most of us out, especially those who recently bought at 7 cents.
well then go ahead and by some more........ i dont see anyone really adding to this..are we all broke here?
this is an 8.8. million market cap at this point.at 2 pennies.
Nido petroleum is roughly 180 million market cap.
I'd like to think Fecof could get there one day but managment doesnt even waste a few bucks to properly promote this stock kind of the way that Fox petroleum newsletter rag was going out to everyone back in the day. I question their loyalty and disregard of shareholders equity.
Most companies go public to build equity in share price,,,,,,,for a higher p.e. than privately held companies......so they can borrow more from a bank to grow faster. They do this at the great risk of being bought out,,,,unfavorable markets.....and stock manipulations.
If this stock is allowed to trade at 2 cents or lower for a while......without the new buyers from public awareness i mentioned before...there can be an inside deal to sell the company to philex for 2 pennies,,,,especially if they are running out of money,,,,,,,Philex will argue that they simply paid above market price and therefore its legit.......this is what i went thru 5 years ago when the stock was as high as 11 cents or so....dropped huge..stayed low for a while..and then anounced that Philex bought 50% of the company for 2 pennies,,,,about .005 cents more than it was trading that day.....but not near its average.
If this chinese issue didnt delay us from moving along with actually getting an OFFER, let alone a partner.......then i wouldnt worry so much about an unfair buyout......And i cant say that philex planned the chinese garbage to hinder the companys growth.......but the fact remains the same........if it lingers......and we will get even less money coming in because of the bec deal.....then the greater the chance of getting squeezed out on a cheap buyout........if the 3d is perfect..verifying everything they say is already proven, with the difference of a service contract this time...we might see 5 cents again,,,,,but it will surely drop again to where it is today without a conclusion in writing from the chinese and without a partner offer and a deal....we will get cheated.
Just my honest opinion.........glta, Styl
philex pxmff is making a new high again today..<.52>......if only fep and fecof could perform as well as pxmff has been lately we'd be in great shape.......i guess its the benefits of being more diversified......being in bed with the govt.......and being a large cap stock of over a bil in cap
wow..........seeing this trade at 2 cents after the fact that they finished the seismic is disheartening.......maybe its part of the ploy to shake out weak hands..i dont think it cost the market maker much to bring the stock down to this level....maybe a total of 20 grand on his part to bring it from 4 to 2 cents.....<i'll explain later>..this way he can start buying in bulk on the way up if they ever do announce any good news.
I thought i got a good deal at .0261 a couple of days ago........and i have healthy doubts more than anyone on this board and i still added......i wonder whats holding you guys back?
anyways.....I had seen my order of 65,000 shares at .0261 two days ago<i know its chumpchange> get partially executed....I still had 20,500 left and should be next in line to get executed at the same price......and i saw the volume move another 150,000 shares at that price and my order was not executed........the next day...at the same price they still werent closing out my open partial order and volume was still moving..only when the price dropped to .025 did they finally execute it.
This reminds me how sometimes they do "so called" in house transactions within the brokerage <market maker> and therefore can skip your turn in execution....this also means they can manipulate the volume somewhat.....and when they buy 100,000 shares from a buyer and then sell the same100,000 shares to a seller the volume reflects as 200,000.
Good luck to all............They should be releasing that info soon even if China is still playing the bully. I dont expect it to move up much when that info verifies the 3.5.....info of a partner and continuing to drill will move it much higher but i dont know if they will get to that without knowing for sure the chinese wont attack the vessel or the well in an agreement.
i tried to throw some math around a few posts back....
650,000 is in cash...... and roughly 2,500,000 annually in revenue..... if they made a 10 % profit then its about 250 grand a year,,,,,if its a 20% profit margin they made.then about half a mil a year in profits...and so forth.,dont really know the combined profit margin they might have had back then and how it changes now as well with less of a tax on profits issue....and the debits and credits affected by BEC .
i used figures they gave but they didnt give the break down of sc6a and B which in the first paragraph they included as part of the settlement but without further detail as they provided for the rest. So their lost revenue/profit is most likely higher//////still nowhere near the 9 million mentioned...unless as much as 10 years go by and there are additional finds in those contracts.
there is a big difference my friend..........
I wish there was no difference at all but there is a huge diplomatic difference, as well as an established well and an exploratory like ours.........Dont blow off the issue as if its not a serious detriment or a HUGE roadblock going forward in dealing with conflicts with the chinese.
For whatever reason..there was no dispute when building malampaya between china and philipines back then and there isnt one now. THEY DO NOT CONTEST MALAMPAYA......but they do contest sc72...... About 5 or 6 posts back you will see an article with quotes claiming exactly that.
Ive included a petroleum map a few posts back and it does show that sc72 is the stand alone deposit which is quite a bit further out than the rest....visually speaking.........If its philipno territory by international law then great.....but does asean honor that or some other guideline altogether for the south china sea? We dont know for sure and china is the 800lb Gorilla by far. Even when you are in the right......you sometimes settle a dispute.........kind of like what FEP did recently by handing out 50% to BEC to settle their disagreement...........Will they consider giving China 50% of sc72 also to get things moving? Can we get pushed out altogether or sold out by the philipino govt?
Here are some questions that are more fact seeking based rather than opinion like the others.
I'm not insinuating anything........just honest questions.
1. the company that owned sc72 when it was still gse101....they drilled a well didnt they? Did they not know they had a huge deposit back then of 3.4tcf? Why couldnt they
get a junior back then....what was keeping them? How could they go bankrupt with such a huge deposit in equity?
2. if it wasnt because of bankruptcy then why did they sell for so cheap when they were sitting on billions?
3. If they were forced into bankruptcy was it because the govt. failed to look after them as per making gse101 into a service contract back then and moving things along?
4. Something that has me puzzled is,,,,,,,did china contest gse101 or the drilling back then? How did china react since they did drill an exploratory well back then?
Malampaya is finished and producing a bil a year...........SC72 still has big hurdles.....its been 4 to 5 years in the making already with fep and everytime we seem to jump over a hurdle...another one comes up and the illusion of meeting china and going forward was a lie. I am still LONG because of the huge potential reward but i have to agree with the market that 3 cents is just about right considering the huge risks and uncertainty regarding this stock......
glta
fighting for their rights with what?
no navy to really beef up the spratlys like they said they would......and by their own admittance when they sent out two ships to defend the veritas vessel....only one coast guard boat showed up..... its like baywatch vs. china
they plan to beef up their navy with money from oil exploration but they cant continue exploring without meeting and agreeing with "asean" about the south china sea........and then asean can't talk about the south china sea without China or its approval..........wow...talk about deadlock nonesense at the hands of the friendly chinese.
the meeting of aquino with china was canceled indefinitly regarding our specific situation with that incident in s.china sea...................How long will we have to wait for this diplomatic stupidity to get out of the way.....this is a real detriment to our company and our stock price in the present and near future.
Will aquino hold his word and allow us to drill before this is settled diplomatically? The way the chinese are acting they never want to settle it in the interest of anyone but their own. will the company itself risk it with chinese military threat not being settled? Will there ever be a partnership OFFER if this isnt settled verbally with the chinese?
same as etrade volume
basically someone got out of his position of fep when the anouncememnt was made without checking the details thuroughly first......trying to be safe maybe or panicked when he saw sc72 somewhere there in the mix <even i took a big gulp when going down that list>..........a position worth roughly 40 thousand.....and if the market maker counted the volume twice as they meet the buyer and seller.then maybe the position was worth 20 grand or so.......I have more than that myself invested in Fecof....so no big selloff afterall except on the volume chart it looks HUGE in comparison....actually i'm suprised it didnt go down to 30 with that kind of comparitive volume..but it goes to show you that there is at least one person afterall that was waiting for volume to pick up some shares on this potential huge play. Maybe a market maker.
diagraph of malampaya....nicely detailed giving some key points on how malampaya was built...and some insight into its depth....good to know when we finally hear about our own depth of the best place to drill....
if we were to just hook up to their pipeline<shell>,it would help them produce years in advance and cut cost by over a billion in my opinion. http://www.offshore-technology.com/projects/malampaya/malampaya1.html
quick math
to settle a 9 mil. potential payout....and squash it
they pay 650,000 in CASH
and this is the amount i come up with that they will give bec per agreement, in future annual gross revenues that will slowly decline.
2,ooo,ooo galoc rev.
274,000 Nido revenues
720,000 matinloc revenues
---------
3,000,000 ...........roughly 3 million in 2011 revenues.what the net profit of that would have been i have no clue.
plus the 650 cash dont forget
I simply took the numbers they had.so if the had 50% of something left , then b.e.c. had the same numbers with the other 50% split....
then i added multiplied those barrels by $100 a barrel and multiplied the percentage again in decimal points.
its not a cheap settlement by any means for a company with currently a small market cap. Probably why they opted to do it this way then to pay out more cash.
I didnt get any figures to do math on with service contract sc6a and 6b since they didnt supply it.......I'm wondering if they left that one alone as part of the agreement...Might have to call this guy tomorrow
petroleum Map http://www.energy-pedia.com/article.aspx?articleid=135440
here is a link to the best map ive found yet listing all the sc contracts.it looks small.but when i saved the picture to my file and then enlarged it.it was superclear where everything is located....
I was trying to figure out whats the story with sc6a and sc 6b and i didnt even know where its located until i got this map.......
there needs to be some clarity on those two..sc6a and sc 6b because they start todays article saying how its in dispute and then they break down the agreement they made as to what gets cut down 50% and then they say to clarify they say cebu and sc72 are not included...but dont mention sc6 again on either list...What is your take on that folks....what am i reading wrong? or do you agree that it needs to be clarified?
anyway..heres the map.......definitely worth a look
http://www.energy-pedia.com/article.aspx?articleid=135440
interesting note............pxmff philex mining...our babys daddy by means of 50% ownership.........is actually at a new high today and at a 2.1 billion dollar market cap......they have more going for them than just a HUGE chunk in FEP but still....their growth going forward was to be reflected by sc72 in a big way and it doesnt seem like they are too worried there today.
actually we never had 100%......fep has 70% and fecof has like 24% of that 70%...which can still be huge...........But we are a bit at risk now of them "possibly"diluting the company FEP "in the future" considering what Fep's financial situation might be going forward, and needing to finance sc72< our golden goose>....I dont know any of the numbers behind it...just an assumption that the risk alone of them diluting with equity finance has gone up, and would be very unfortunate and untimely if thats the case........hopefully none of that comes into fruition.............I'd love to hear them announce something positive finally after two negative anouncements.
Someone mentioned that Fep might move higher now after this legal issue that I didnt even know they had is out of the way and finalized.......most BIG, serious investors who do their due diligence much better than I usually stay away until matters like that are cleared.
This theort might prove right...we have to see how Fep trades the next couple of weeks.....might actually be a buying opportunity for those who can fly to london and open an account.
no eom...i dont have level two........but my etrade account shows me and allows me to trade in those decimal points
of the three you mentioned only 14a was challenged,,,,,,and cut in half by 50%,,,,,so ownership in that went from 8.4 % to 4%......
but sc6a and sc 6b were not challenged.....
either way........this definitly wasnt any good news no matter how positivly anyone tries to spin it..........but its not a death nail either. one thing of worry is they may find themselves having to finance the company with equity shares since revenues and profits got cut in half......I would hope not.
This does explain why FEP wasn't trading much higher all this time......the market always knows something more than us, the average investor.
good luck to all
nice size bids?
in all honesty eom....that was me today selling something else i owned and putting less than $1,400.00 to add some more fecof shares...i got 44,000 shares today and it cost me 1,300 something.........So when i tell you its just us here on this board I wasnt kidding......i jumped the market makers bid from his .0301 and put in my order at .031
I never heard that saying before about the string...I will modify it for myself........."frustratingly and anxiously waiting til being pulled upward"