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I have no idea what Ashmore has up there sleeve. I do know they keep giving money. We should all know that the auditors gave a qualified opinion 3 years ago that the company was not viable and they could not pay off their debt. It was just when all the Institutional Investors bailed.
Of course I would not say that any of the note holders could or could not call the notes when due. That is there discretion. But what I ask you is, what is the point? They have no collateral to collect. They do not guarantee themselves the right to PSC and without the PSC, FEEB/FEEC is worth zip, nada. The paper required to print the legal documents would be worth more than the whole company. So my point is that there is no recourse for the note holders. They have to get the best deal than can get without making FEEC go bankrupt.
Impossible, Ashmore has no rights to the PSC anymore than anyone else except the Chinese government. The Chinese government is under no obligation to give Ashmore the rights to develop the PSC. Only FEEB has that right until it fails to meet obligations of the PSC. Any change in the development agreement requires Chinese approval.
Watch the discussion on the Investors Village Board. There are a lot of shareholders that hold a lot of stock in FEEC who read that board. The stock has always dropped when the posts on that board are extremely negative as they are now. The board offers a good perspective about the investor sentiment in the stock.
yes in some sense. The water keeps pressure on the reservoir. This prevents the absorbed gas in the coal from being released. Thus when you have a lot of water pressure, you only produce free gas. You must reduce this desorption pressure so that the gas can be released from the cleat system in the coal beds. Once this occurs gas production can spike very rapidly.
You really need to read and understand the RISC reserve reports. The 110 wells mentioned in the conference call are the projected minimum number to overcome desorption pressure in the A zone of the reservoir, not the total number of wells to develop the field. The total number is determined by optimizing the well spacing based upon the characteristics of the reservoir and how fast you want to get gas and water out of the reservoir. It might take a couple of thousand wells to do the field development.
I am not pessimistic at all about the company and I have all the shares that I want to own. If you really want to read some of my DD read my posts on the InvestorVillage Board. Remember that in 2009 the company had a different share structure, less O/S and no debt. Thinks have changed since then. Now $10/share is possible but I suspect with a reverse split at some point.
BTW the risk to the company is not directly China. It is that they run out of money before they achieve value from the resource. It takes a lot of wells. 400 wells is significant but not what it will take to fully develop Shouyang.
OK, you predict $10/share. Other than f**ting in the wind exactly how do you get this number. Show us your DD.
Runny, I think believing any number other than those produced by independent authoritative sources is absurd. I wait for those annual reports from our independent reservoir engineers that are based upon real data and honest assessment. The wacko numbers thrown out by some are just jokes. Any investor who accepts them deserves what the will eventually get.
We will get real numbers this year and next that are based upon a lot of data. The data resources are already significant. We know the depth to the top of Coal Seam #15, the thickness of the coal seams and we continue to obtain more data on gas content and permeability. These all point to a more significant resource than the existing reserve reports give. One thing I do believe and have experienced is that all oil and gas fields are different but the laws of physics that operate in Australian CBM fields are the same in China.
Runny I continue to follow FEEC and write extensively on the Shouyang field on the IV private discussion group.
Runny, markets work differently for different investors. Market can reward people who make reasoned investments where the potential risks and rewarda can be assessed and quantified over a long term. The market can reward speculators who can pump a stock and get out before the sky falls. The market can reward technical analyst who can decipher the technical data of a stock before others see it.
I can find 100's of stocks that trade at 100 times there asset value and here I presume you mean book value. I have seen the market value the future earnings of companies by more than a 1000 times. Obviously you were not around in the early days of technology or biotech.
And what FEEC is worth to you is irrelevant to most other investors other than you.. You are a skeptic who believes the solution to market performance is public relations. The total irrationality of that belief is totally unbelievable. And I know you will say see the performance of SINO with its 1 Billion OS. Unfortunately I do not think you know how to evaluate the asset value of FEEC to another company or the risk of FEEC running out of money before they can get this asset to reward any value to them. I have reviewed your comments for years now on the IV board and you clearly have not idea how a O&G project matures or the level of effort it takes to get there. And yet you buy a stock that you have no idea how it will or when it will be able to realize the value of the asset in the ground.
If you go to the FEEC website under Investor Relations there is an ARI assessment of the well performance for the Shouyang PSC based on data from the pilot area. I suggest you look at that study.
Well if you know anything about high perm reservoirs you know that your shale example is not the case for cbm. CBM wells are noted for their long productive life.
Runny doesn't know the value of the asset. 70 percent of the Shouyang acreage is not accounted for in the reserves. If the coal is continuous as expected the next reserve report could more than double the reserves. I would not be taking anyone's assessment of reserves if I were you.
Institutional selling. Mutual funds were holders of big positions. They dumped them this past winter.
Sorry about the link. It is the link I obtained from OTCBB for SEC filings.
Here is another link to the agreement between Westrock and Mainland. It is available as an 8-K filing on SEC Edgar.
http://www.sec.gov/Archives/edgar/data/1395205/000118374012000224/f8k03282012ex10-1.htm
Here is the link to the actual agreement. Exhibit "A" gives the leases and details.
http://app.quotemedia.com/quotetools/showFiling.go?webmasterId=89753&name=MAINLAND%20RESOURCES%20INC.:%208-K,%20Sub-Doc%202,%20Page%201&link=http%3A//quotemedia.10kwizard.com/filing.xml%3Frid%3D23%26ipage%3D8195249%26DSEQ%3D2%26SQDESC%3DSECTION_EXHIBIT%26doc%3D2&cp=off
Runny, lots of shares traded at .32 after stock hit .325 at 15:50. It means there are lots of sellers at $.32 On good side is buyers after close bought at .32 and higher.
Don't really care about this stock trading at .32 or what the market does technically according to some chart gospel. I just notice what volume is doing.
Not so impressive when you see that over one million traded on the sell side in the last hour. However most after market close trades were all on the buy side.
New Research Report
Thanks to 'rmoory' on Yahoo Board for posting this link
http://www.greendragongas.com/doc/research_report_100518.pdf
Excellent report with information applicable to FEEC
ENZR breakout. Up 40% in last 2 days.
Chart looks very good here. I don't see why we won't see $2.6+ soon
If URST = BIG Winner EOM
TA, after learning much about TA from you on the IV board I have been using a trading position to play FEEC between .34 and .42. It looks like .42 is broken, however here is the question: There is likely to be significant fundamental news on FEEC soon. Things like reserve numbers and gas sales. Considering your thoughts on EWs and the current market, how to you think FEEC might be affected with strong underlying fundamentals?
IF FEEC proves up 1Tcf of gas, the stock could be worth $10+
I like the action but will wait to take position. Stock has been at these levels before on spike and retreated. Volume to thin to call this a breakout.