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hhhmmmmmmmmmmmm.......
you seem to be slamming me at times and agreeing with me just a few sentences later. I must ask to to stop painting me with a dark brush and saying i am misleading people with just my "singled out" facts and my interpretation of risks. I am simply talking about topics and scenarios that are rarely brought up in conversation on this board....I keep hearing people jumping up and down that philex paid 50 cents a share for this company, failing continuously to mention that it was for just 1% of fecofs shares and not mentioning that its most likely to strengthen philex's own holding in their fecof position. I'd rather philex gave them a loan instead...but i am now coming to the conclusion that 50.5% wasnt enough for them because if they fecof" diluted the shares to raise funds somewhere else then philex would lose controling interest...52% is safer for them.
you seem very intelligent but I would suggest you try saying more with less< sophocles>, as I too am guilty of this i would still have to give you the crown.
you keep mentioning that philex would be better off to,and is likely, letting fecof and fep continue as a stand alone company.that somehow this would be most beneficial to them.
I dont understand why you would assume that, over my assumption of philex wanting to consolidate both of them especially when theyve already made an outright bid in the past for fep at 48 pence. I at least give you facts behind my reasoning.
please tell me your reasoning on how or why it would be more beneficial for philex to do what you suggest they will most likely do...rather than buying these undervalued companies soon before they have to pay thrice the amount for them in the near future?
by the way, you sound like a specialist of sorts in this industry. Am i correct in thinking that? do you either focus on investing in these type of stocks or have worked in the industry as well. As far as fecof being traded in the pinks and fep in london its simply because more investors like us are likely for better or worse buy these shares over there rather than to look for them in the philipines stock market. Philex didnt put them there. they existed before philex
glta.....IMHO.....Gamble at your own risk
position:long....maybe too long.
lol..........see my previous post......lets have a beer bro...dont get too excited.........at least not yet
that must be it...no pr....and no official anouncement from the company yet so you do have more attentiveness from this board on news releases that what fep has on its message or news board. although i agree this is good news, i thought it would be expected and priced in already, or at least mostly priced in. I think the real pop will come when they anounce the partnership with the service contract. They say they are in discussions but no offers yet. i hope its not too long of a process.
.
fep is trading at 65 now...down 2% with 41000 shares traded. this stock trades very strange.
no sir,
i was on the yahoo message board before this, but like i said, i own this, not just following it. I have an etrade account...i go to global trading.....to check the quotes...fep.l is down 10% but you can fairly say only about 30 grand us dollars have been traded. I guess this thing has a super small float and only very few can trade it because its an aim stock.......I havent tried it but i think eom said they didnt let him.
and i checked, its not a holiday...london is trading as we speak
I agree the news desreves to give a jump in price but fep hasnt done so.
fep.l is down 10% on 31,000 shares as i write this.....doesnt make sence...............big spread too...60 to 68
my apologies Mr. Green tea... i had you pictured as a lil' asian woman drinking green tea for some reason.
I too like the fact that they have a big company/financier behind them with ties to the govt of philipines to get the ball rolling....I'm just not happy that they own over 50% of the company and for chump change.
yes,,they did buy some shares recently at 50 cents but that only reflects 1% of the shares.....could be some kind of manipulated move or it could be just as they stated...they are not saying its worth 50 cents but just part of their financing deal with fecof. I DO believe its worth 50 cents.I just dont think philex has much desire to buy us out at a high price like that when they control both the shares and the board already.
I simply think more attention should be given on how they bought the bulk of their shares from fecof <50.5%> than on just the 1% recently at 50cents..........I'd be more than thrilled to sell them all my shares right now at 50 cents knowing how they dealt with things in the past....I just dont think thats the case. They shouldnt be trusted.
Lastly, you shouldnt overlook that its in their best interest to buy them on the cheap soon so they can own 100% of fecofs shares,,,rather than just 50% of a company you say could bcome 20 times as large in just a few years.
glta
dear ms. Green tea...... the board has done just as good a job as any providing information.....but most of it is just repeating information that has already been anounced.....which i'd rather have that, then over opinions anyday........but dont pat yourselves on the back that much for just regurgitating info.
Furthermore, the board shouldnt pick and choose just the information they like to use to point a rosy picture with no risk at all. I seem to be the only one that has brought up the Fact that philex bought 50.5% of fecof at .025 cents when they were trading much higher back then.........and therefore the possibility still remains of it happening again.
Real dd would be explaining to this message board where and why fecofs biggest asset and ownership in fep keeps going down? where is that ownership going? I'd rather see them buying more fep....wouldnt you?
thank you.
downsideup...your thurough explanation in that post explaining where the possible unrealization of the true value of fecof's holding never be seen and also never being equaled in a percentage move by philex if you buy their stock in turn is the main reason of my fear and frustration.
you say prices of .25 and .50 cents and others who bought this at 1 penny recently might be looking at us as pigs.............but i bought in at an average of 5 cents years ago and then watched philex buy it later for .025 cents......This is not me trying to scare anyone into selling their shares at 7 cents or anything...........but the truth is that theyve managed this before......paying a smaller amount then the shares were trading at.........so to completely rule it out from happenning again is naive.
It is simply frustrating when your analytical brain is telling you to buy even more at 5 cents,,even its recent yearly high of 7 cents because of its value .........and then you have to fear the reliving of a loss because of corrupt dealing...........this company at 5 cents is a 20 million dollar market cap.........I dont think regulators will look twice at this company if self dealing occurs......thats why philex pulled it off the first time without any alarms going off.
I dont need anybody calling me a basher and all this crap because i tell people to have a healthy dose of awareness followed with a dash of mistrust. Goldman sachs and big firms break securities laws every year..pay a small fine compared to their huge profits and keep going......this is just the unfortunate corrupt system we have to deal with.
i have a question to the board.........something i'm not sure about. Why is fecof's holding in ownership of fep keep going down? Ive seen it somewhere as high as 36% in the past.......not long ago it was around 30 and now its just under 26%.....why is that? is it that fep is diluting themselves and someone else is buying those new shares of fep or is fecof directly selling off its ownership of fep,and to who?? Once again i'm not trying to instill fear but if fecof is slowly transferring that ownership to Philex then we should know about it.
you had me analyzing my own quote trying to find out whats so funny to you about it......
i guess your focused on the part....whats different from 3 years ago...........which is much.....a service contract for one is a very big deal,,,,
but what i was actually referring to is whats different about philex's strategy....morals...ethics.....and handling of their business deals.
whatever...good luck to all.....i think this is gonna be my last penny stock ever...its too aggravating worrying about unknown things and so much lack of information or requirement to be diligent about it from its directors.......unlike a nasdaq stock etc.
o.k. downside,
you put in the time and effort to give a lengthy reply so all i can say really is thank you for your point of view and opinion.
You make a strong point that they need to anounce results before putting in for a buyout....and if they are positive results as we expect this should go higher before they make an outright bid. The fact still remains, when i was a shareholder during the philex anouncement of buying fecofs 50% ownership....there was no warning,,,,,,no tender for my shares or anything......just an announcement that the deal was done and thats ALL. I was seeing 25 cents in value back then too and got just .025 from philex. As you say its already happened to you too......so nobody should blame me for mistrusting Philex and being bitter for their dealings.
this is just 15% of my portfolio but has taken 95% of my focus because of the action and excitement behind it.....but i need to just leave it alone and consider it my roulette investment. glta
when i talk about philex doing whats in their best interest I am referring to within the law....they are strategically situated where they can do things for themselves from their current position within the law.....being a majority shareholder and all.
I got excited too when i saw them buy 2% of fecof for 50 cents a share....but then i realized these are the same guys that bought a majority interest at 50.5% for just 5 mill...025 cents a share even though it had traded much much higher than that...
because it was so long ago i need to recheck and see if the gas find was before philex bought them or after.....I might be confusing it with the gold find...those were their two major events in the last 5 or 6 years, and it had spiked to 12 cents back then and further back it was 25 cents....so you cant say that philex gave them such a fair price at .025 back then......so why give one now,,,,,,,,,since its already, historically played out like that 3 yrs ago..then why would you expect for it to play out differently this time around? Believe me....i'd like to see it go to 2 bucks where it traded 10 years ago.......but besides wishful thinking, why should it play differently this time around?? please consider this an open question to all message board people.......I'd like to here some solid reasoning behind this.
hello mr. downsideup,
I have an issue for debate and would like to find the actual fact if we can find the link and settle it.
I have you quoted below with a statement that sounds like Philex intentionally bought fep through fecof and diversified their portfolio that way for some reason........here is the quote
"There is also a reason or two to think there were probably some good reasons why Philex did diversify their ownership in the ways they have... putting some shared ownership in a base with Forum in London, and some bit in Canada (and the U.S.) with FECOF. "
my understanding is they <philex made an outright bid for fep at 48 pence.....theres a link to that in my previous post.......and then when it didnt happen..they bought 50% of fecof instead to get more control of fep.......This is my understanding so far...if my timeline is wrong please show me the link that shows fecof bought fep after philex bought 50% of fecof.thank you very much
Also, i will admit humbily that i dont know how the canadian securities act works.........but why am i wrong to think that if the majority of the shareholders/management which is already on the board decides to use their controling interest of fecof <53%> to decide to accept the sale of the remainder of the company at a fair price which could be 5 cents if they average the monthly average price for this stock. what law is there that tells the majority that they cant accept a bid for the company with 53% of the vote........I'm not "acting" smart.....I just would appreciate it very much if you can tell me something i'm overlooking here on how this would play out.....do they need 75% of the vote to sell fecof or something like that? what am i missing?
much appreciated, thanks
hey rafter....
i dont know about who promised you news 4 weeks ago........but the volume chart back then justified the spike in price.......
if the volume goes away then the price will drop again.very simple. If its true that certain traders are allowed to take a short position then this can drop even faster...but this stock is simply trading like it will be a buyout from Philex....they already own 53% of this....and since theyve showed strong signs that they want to buy all of Fep if they could........with their offer at 48 pence.....then the next best thing is to buy fecof....and they might just buy all off fecof now before feps real value is fully exposed.
the strategic board manuevers seem to point at that more than the rumor of what the philipino president mumbled about.
I was a fecof shareholder and without warning 2 years ago I got the anouncement that philex bought 50.5% of the company for just 2.5 mil.....no shareholder meeting to discuss this or anything.....under the table deals.
And now that they have a controling interest, unlike their previous buy of the first 50%, people are trying to tell me that Canada will make sure fecof gets a fair price. why didnt canada do that the first time around at .025 cents i dont know.... I think they<philex> may offer 10 cents...why offer more? their infiltraded board will o.k. it..........so thats still a huge % gain from here...just not as huge as must people were hoping for.
having just read your post...
i just went to my etrade account...and did the global trading form..took 2 minutes to do....and then tried to do an online trade and it wouldnt let me...told me to call customer service to place the order.......looks like its trading with a volume of 14,000 so far .......i'll call them tomorrow and see if they can place an order and charge me thru the phone comission instead...i'll let you know if it works or not...........I think the global trading feature with etrade is rather new.
good night
apology accepted.............
just do me a favor and lighten up...........
I promise not to post too much from here on out...
I just havent seen any post showing the true market cap of fep and if its 31 mill as i showed earlier....maybe its not a bad idea buying 100% of fep's stock instead of just thru fecof....although fecof has other things going for it too,,,,,,why not buy both.......i just learned that fecof is not pennies on the dollar of fep....they are about the same.....actually fep might have more value than fecof.....and in a starshot......fep will do better i think.....although philex seems to have infiltrated both their boards very strategically....the risk of not realizing their true value/worth is a risk for them both.
see ya on monday....bye
the way things were shaping up in 2008..
i dont understand why fecofs interest in fep keeps dwindling down..wasnt it 36% in the beginning.......and in the article link its down to 29 % and today its barely 26% http://www.investegate.co.uk/article.aspx?id=200807040847003271Y
i answered my own question when finding this link.......
philex bought 5 million dollars of fecof at a lousy .025 a share back in 2007 a few days before christmas....like the grinch whostole christmas http://www.reuters.com/finance/stocks/keyDevelopments?symbol=FECOF.OB
what do you mean wahoosier?
"only" control 70% of a huge gas dicovery worth billions?......and fecof is only at a 20 million market cap today.......
so if fecof runs up to 200 million to reflect its 26% ownership <if theres no funny business by philex> it wouldnt be good enough for you?
if a potential 1000% return isnt good enough let me buy what your buying or drink what your drinking.
hey premier...........
you should change that 50% to 53% ownership with philex's extra buy of fecof on the homepage.keeping it more current and accurate. It also shows intent........instead of giving a line of credit like most companies would have done.
hey guys.........
i've been a bagholder of this stock for give or take 5 yrs.....because of the news flash of the gas discovery and the volume action......as well as small market cap at the time..i think i got in at 5 cents or .057 or whatever........ thinking this was gonna shoot up for sure back then......
I remember feeling sold out when managment let philex buy a controling interest over 50% of the company about a year later........while others argued it was good to have this large company in bed with us because of there connections with the govt. and being able to get us on the fast track to getting the ball rolling............I still felt sold out...
what i cant remember is how little philex paid for this company 3 yrs ago.........was it 6 cents...was it 25 cents? i dont remember......does anyone remember or have a record for it?
also,,,,,what would stop philex's board who own over 50% of fecof from deciding to just buy the shares of fep from fecof for some cash..........why would they need anyones approval? they already own 50 1/2 %...they dont need your approval......what is all this, canada wont allow it stuff.......its majority rules even in a democracy....so correct me if i'm wrong but theres no permission necessary when you are already the Controling Interest.........and philex is putting even more people on fecofs board so why am I the only one here who thinks we wont get whats really our true value here.
Yes, philex bought 2.5 million worth of shares recently again at .50 cents but stated clearly this was just to infuse the company <their subsidiary> with cash for continued expenses and that 50 cents is not what they think the company is worth <they dont plan on repeating that>. They could have bought 10% of the company's shares with that money reflecting todays stock price........ If philex was looking out for fecofs best interest, then why not let fecof borrow cash against its net worth in company stock or fep's equity worth......etc, for 8%........I just dont think philex has our best interest here...and if i were them, i'd be looking to do whats best for me too before anyone else .
glta
its forum energy under fep but you have to look it up in the global market, i believe its in the aim market............its like 65 pence...........some people say its in pence,............very very thinly traded
THANK YOU FOR YOUR FOOD FOR THOUGHT.
i DONT think its correct to say philex owns 65 % of fep since philex doesnt own 100% of fecof <they own 50.4%>so to do straight up addition like that doesnt seem right....thats why i originally added 39% and half of 26 to equal roughly 53%.........
but i see your point. somethings definitly brewing. I wonder if i should buy some FEP just in case fecof gets squeezed out of their shares below true value.
thanks again
HAS ANYONE EVER FIGURED OUT THE OUTSTANDING SHARES AND CURRENT SHARE PRICE FOR FEP EQUALING ITS TOTAL MARKET CAPITALIZATION?
IS IT PENCE OR DOLLARS I'M LOOKING AT ANYWAYS?
i'M SURE I CAN DO IT ON MY OWN BUT BY NOW I FIGURE ONE OF THE BULLS ON THIS SITE HAS ALREADY FIGURED IT OUT AND BROKE IT DOWN.......PLEASE LET ME KNOW
HERES A LINK I FOUND EXPLAINING PHILEX'S CONTINUED INTEREST IN OWNING AS MUCH AS FEP IT CAN GET ITS HANDS ON AND THE LIKELYHOOD OF A TAKEOVER.
http://www.stockhouse.com/bullboards/MessageDetail.aspx?s=FECOF&t=LIST&m=27968624&l=0&pd=2&r=0
i came here from the yahoo board.......... ive been holding this stock for about maybe 4 years........i think that gas find anouncement got me in in 2006.......and ive been dissapointed with the lack of movement, info, etc.
someone saw me on yahoo and invited me here...<i was practically talking to myself on that board>i never heard of ihub before.... I'm glad theres a following here.
I know this is a real company....not just a shell like most penny stocks.........but i still fear manipulations and exaggerated, if not false stories and rumors about this company. I'd like to see managment step up and make anouncements....why the tight lip....its not like they are protecting patents.....so why not tell investors what theyre really holding instead of all this secrecy. I'm long but i am frustrated and i dont want to hear any more lies that will help market makers make a few bucks on the backs of new investors.
I want to believe all the positive rumors but i dont want to be suckered. i own about 100,000 shares. because i bought in at 5 cents years ago
glta
shareholder friendly??
no such thing................. always consider alternative motives...this is big business and you dont get big by being friendly. It might be a prelude to buy this company outright for .......i dont know....much less than its gas reserves are worth...maybe 15 cents....and they can argue they kept it afloat with the cash infusion instead of letting it go under or diluting. I'm not sure this is the case but idefinitly wont rule it out.
as of right now.....
fecof trades at just 1% the market cap of philex.......
so even though philex owns almost 39 percent of fep
and 50% of fecof......< combined is roughly 52% of fep >...
fecof seems like the best way to capitalize on fep.........but if philex drops back down to 20 cents..........that might be the more secure stock to own since it is currently already making profits and has cash.
philex at 1 billion will also shoot through the roof if they own a piece of the largest oil discovery since iraq<if at all any of it is true> xom exxon mobile is a 400 billion dollar company....so if the best of all things ever panned out in this story, philex would reach a 100 bil market cap too in just a few years..maybe 2 yrs....
52% of a huge find is better than 26%....even if you already are a billion dollar company. didnt philex originally buy 50% of this company for chumpchange? what makes people think they wont buy the remainder of the company for chump change as well......they own 50.4 % of the company...they dont need your permission to by it all up for just 10 cents.................
just saying there are many different potential outcomes.............. I am tempted with a bigger move from fecof i just think the game is rigged.
just a thought
http://www.stockstobuy.org/forum/topics/fec-resources-inc-fecof?commentId=3237573%3AComment%3A75636&xg_source=activity
above is a link i found on another site called "stocks to buy" and theres a strong supprter of fecof there that might explain where most of the buying volume was coming from....some stuff is repetitive from this board and other stuff new and different perspective,,,,,worth a look....good luck to all...
p.s............can you please keep the subject matter at hand and not post 20 posts consecutively about the weather..it looks like the yahoo message board now
wow......you replied very quickly. and so clearly. You should work for a newspaper.
Thanks for not getting defensive and you make very valid points.
Good luck to all, I think i'm just going to ignore all the noise and hope that if we do validate the big numbers in gas..........and it is serviced....that the company doesnt dilute us anymore.........although if we wont see a dime in profits for years, and we are running out of money, the company will dilute us...............36% ownership in fep is down to 26% if i understand it correctly............how much more will the shareholder be sold out now that these guys are all sleeping together on the same boards.
good luck to all
HELLO,
i am curious as to who may own those huge oil fields in that region.......Palawan...........any clues? Can that be ours too or very unlikely to definitly not?
is there somewhere i can go see the demographic to see how the region is divided up in palawan between drillers/well owners. And who is midoro occidental.......do they own anything in the region or do they just do research?
I wouldnt bet all i have on a statement which basically is.....an army official told me a rumor he heard......blah blah blah........and we keep printing that gas discovery article which is 4 years old........its still valid......but for christs sake............netflix is up 1000% since then.
I am long term and will stay that way.........ive been holding the bag for so long they might as bury me with it now..........I just dont understand all the excitement NOW if were printing articles from 4 years ago....seems a bit misleading unless there are Clear statements soon to prove some rumors somewhat true.
the president mentions a huge oil find........not a gas find......... we are speculating on our natural gas deposit..................therefore when he says oil I feel he is talking about another companys well/reserve..............please correct me if i'm wrong.
it would make more sense to just figure out the entire Market cap of FEP <forum> and then deduce what 25% is from that and thats simply Todays going value of fecof's worth in the forum play alone.