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someone needs to remind china that they wont need to worry about stealing all that oil and gas down there in an attempt to keep up with their rapid growth in manufacturing.
We will simply do them the favor of boycotting their effing crap products sold in walmart ...........we can buy made in india clothing instead so they can but the guns to keep those commies in check..........
america is chinas biggest consumer....we could easily turn their positive growth numbers into negative growth numbers..........they didnt know what to do with all those unemployed the last time they hit a hint of a financial crisis.
if you want to see a chinese revolution for democracy you simply got to stop feeding and growing the beast with the capital gains profits of today.........."and they call US capitalist pigs'? the hippocracy of their greed is limitless when they victimize their own people.
nido dropped due to article
http://www.offshoreenergytoday.com/nido-sheds-non-core-assets-offshore-philippines/
assuming that its a legit symbol connected to fep.l, and thats a big if because ive never heard of it before today
..... the market cap on one chart i saw for foeyf was 48 mil.....and since a quarter of that<which is 12 mil > is what fecof could be compared to trading at.........then we are still getting a HUUUUUUGE bargain in buying fecof with a 3.8 mil market cap instead of buying the whole of fep.l thru a foeyf symbol at 4 times that worth.
just my opinion
that stock price <foeyf> would have to come down 75% just to convince me into buying that instead of fecof being unchanged from where it is now,
http://www.reuters.com/article/2013/11/24/us-china-japan-idUSBRE9AM02920131124?feedType=RSS
above is an update of verbage between china usa and Japan......things are getting hot for better or for worse.
I have also e-mailed fep.l on the forumenergyplc.com website about any connection to the foeyf stock symbol....i assume it will be a while before i get a confirmation.........but since I suspect it may be a scam symbol or just a preffered stock symbol.....Either way I advize you all do your own homework and write them directly since I wouldnt take just anybodys word on the validity of this stock symbol other than the companys return e-mail itself. Can never be too weary of scams nowadays
excellent find
I have been on this board for 3 years and have never seen this symbol,,,,,,,,,,,,,,,which if its true , it would give everyone the oppt. to buy a more direct share of fep.l thru an otc stock....
the profile makes claim to sc72........but the headquarters for fep.l is london................not some hole in the wall that this philipino stock claims to be a part of.....I think its less than likely that its legit sincew none of us have heard of it.
We should reach out via e-mail directly to fep.l to confirm any relation.....could be a scam stock piggybacking on the reed bank news in the philipines.......if not, for the right price i'd buy some too......but comparing market caps still makes FECOF the clear winner and Bargain even in the slight chance foeyf is legit
http://news.yahoo.com/china-bolsters-east-china-sea-claim-warns-defensive-072238507.html
here we go again.....this is building up to be a high risk area for an allout ww3 scenario.......the commies better get THEMSELVES in check
that loan outcome can easily be handled now with
the 12 to 13 mil in revenues that will come in,,,,,,if oil prices dip to 80 dollars a barrel we are still talking we are still talking around 10? mil in revenue......whats the profit there?? My GUESTIMATE would be at least 5 mil to 6 mil.....so at most in 3 years<maybe in two by reason of previous tax losses> they pay this off just from those funds alone not withstanding any new huge expense.
this would offset the cash flow I hoped for but at least they become less of a going concern with a better balance sheet than today and that big carrot on a stick which is sc72.
if sc40 was successful we would be all sitting pretty right now but it is what it is.....here below is a link to a forum chat room via LSE website.....its good to add a few converts thru there or bring attention to fecof as well. Sharing info is always a good thing.
http://www.lse.co.uk/ShareChat.asp?page=2&ShareTicker=FEP
someone got a much better deal than me today.
If only i would of waited an extra day.<hindsight>
For people who arent invested in this yet it should be an easy entry at these prices....I wish that was me entering for the first time here
the loan got extended well into the future where drilling and other events will outsshine the headlines<hopefully>.
The typhoon didnt budge Galoc<shows great infrastructure strength and low risk>.
Prices are trading at pretty much new lows if you do a price to sales ratio via ownership in Galoc.<fep.l is also edging up toward year highs>
and the development in sc72 is still very much alive and on the table <but not guaranteed>.
if there is more heavy selling bringing this stock down to .005 before year end i might just have to pull out a small loan via credit card to buy another million shares.,,,,,,,,,even if sc72 doesnt get done the .005 shares should be minimal risk at those levels.
I feel like im at one of those poker champion tournaments and i'm about to call "all in"
damn yahoo finance site got me excited for nothing today, they posted a "fet<tech>" news link in fep.l's chart saying "the street says forum energy about to explode" gave me a woodie for a few seconds.
glta
i think between a few of us here on the board we can combine shares for the 40mil we need to get a directors chair .....then we can complain about this performance in person to pangilinan.....or if we do see .005 we can all pony up 20 grand a piece and buy this company outright for 2 mil......."Imagine" great song by lennon.......You may say I'm a dreamer but im not the only one.
hdymaniac....you are not insensitive, and you sound just like me actually, on any other given day.......
its just that the volume was unending even when i was hitting the ask price constantly......that same 250k share amount kept coming back.....it made me unnerved not knowing exactly how large of a supply was really out there and made me question some kind of news halt that i didnt know about...he took out one of my buys of 325k in a heartbeat
Ive actually predicted this happening just a few days ago< tax selling> but when you are on the receiving end of it like i was today trying to hold the fort down by yourself it was very unnerving......In other words ,,,,,easier said than coped with ....i admit i got spooked.
Ive actually been called one of the most pessimistic guys on this board so i find it ironic i was the biggest buyer here......
Hopefully this mlco guy isnt an institution or we will see new lows <.0045>before year ends....if that happens i hope some strong hands show some faith and average down a bit to support this stock from disappearing altogether.
thanks for the info on mlco
i gave it much thought and have decided i personally cannot add anymore shares going forward even at these prices............i may change that decision if the stock somehow under heavy selling trades at .005......my stomach will hurt if that happens,,,,i might even vomit once or twice but i'll find comfort in knowing i will at least be buying into the successful galoc field at a very reasonable price IF NOTHING ELSE and bringing my dollar cost average even lower to one day have an opportunity to AT LEAST recoup most of my investment if sc72 never happens.....
I probably sound bi-polar today but in actuality i am justifying a floor in an event sc72 continues not to come into fruition......this company should not go to zero before the likelyhood of a potential BOOM/up......galoc is woth some book value and bottomline......only bad loans and dilution can threaten that equity but fecof and fep.l have handled the BASIC episode quite well before.......and if PHILEX wants another 2 million dollars worth of fep.l, even at just 5 cents a share this time, it should still keep us afloat...........its gotta be one of these institutions i mentioned earlier with a few million shares they want to dump and offset their losses with.........to them it wont matter if they sell at .0088 or .0035, when they want out in a hurry they will leave blood in the streets.
IF that happens please be prepared to scoop up some shares around .005 because Galoc simply justifies it at those prices.
fecof if at .005 = a bit over 2 million market cap...meaning fep.l in comparison would be worth 8 mil<theoretically> and fep.l's worth of galoc should bring in between 6 to 8 million in revenues for 2014 alone, therefore dont be inactive/scared from buying if you are lucky enough to see .005
lastly i want to share that in the last 5 years on or around january 1st every year the stock seems to make moves higher....past performance is no guarantee but trends do sometimes more often than not continue with specific stocks.
well my average came down today quite a bit(.016) but it will mean nothing or even be a losers bet if china doesnt move out of the way or a compramise being struck between the 2 countries. great reward longshot but in my opinion ive risked alot for a 50% chance of success.....if the philines compromises their royalties to get this done then its GAME ON but asking a country to disregard its own sovereign borders protected by UNCLOS is a TALL order to expect as a given......other scenarios like china backing down from their "art of war" strategies or the usa getting involved enough to risk a battle are even less likely.
the next few days have in store for us a loan deadline of 15 mil to be made on november 24th....how is this going to be handled? they might release some statement soon about it....then again they can handle it like they did that "BASIC co." loan where it was months overdue before adressing a solution.
good luck to us, we are going to need some progressions in talks for sc72, just to keep this stock closer to a penny.
thanks db7.....i know its a personal inquiry for me to ask so i'll just guess you were one of the few lucky ones buying at .005 5 years ago......hopefully you sold some shares at one of those temporary tops at 4 or 5 cents.
I could easily see how you could have 10 million shares if you got in at .005
hell , i just added 600k in one day for a bit over 5 grand.
biggest one day purchase ive made in years.
I am going to get stressed out if i keep doing this on my days off from work,,,,i need to just disappear from the internet for a while or ill get grey hairs and temptations to uphold a floor on this stock when its really impossible to do.
good luck
thanks for chirping in chicken.....i started having abandonement issues on this board wondering where everybody went.
I hope you are right....if it was a buyer from 3 months ago he could have been even selling his shares at a profit as this stock was around .0055 and .0075 3 months ago.....but it does seem like too many and in a rush to get it done in one day.
Also thanks to eujene for explaining to me why there was no bid and ask when i checked....gave me the impression of fep.l being halted or something...especially with zero volume for the day....the last 5 days fep.l did have some volume compared to zero.
I officially have 3 million shares now but i used some credit card cash to do it........something i swore a long time ago I wouldnt do again...
anyways....good luck to all.......especially me
the selling seems to me that its coming from one of these investors below simply because the the amount of shares on the ask price hardly changed the 250k mark even while there were executions being made.....even a chunk was given to the .0075 ask price <that wasnt my ask>. Felt like an institution with a pro controlling the action. Maybe tax season selling like i predicted already started for fecof.
Philex Petroleum Corporation 225,000,000 51.24%
CDS&Co 49,975,291 11.38%
CEDE & Co 38,783,960 8.83%
Asian Coast International 67,740,000 15.42%
Indexa Corp 30,000,000 6.83%
wow....dont know what to say after todays action with no news....
specifically when I took a bite out of that .088 ask with 250k shares on it...my order was for 100 thousand shares
i scratched up another 880 bucks somewhere just to buy the last piece of the day and get it up off of .075....
the strange thing is that my buy order for 100k shares was filled and the ask price was still showing 250k shares on it.........like the seller or market maker kept adding to the share amount or refreshing the ask with an unlimited or larger then advertized quantity of fecof shares......whats the occasion? why the hurry to sell so many?
I hope i dont regret holding the bag of an additional 600k shares i swept up today.....
if you guys love this stock so much i'm suprised theres no buy orders coming in....
what is this? the sting movie with robert redford and paul newman? am i the only sucker in here and youre all just part of it?..........if this company wasnt making international news about its events i would seriously contemplate being scammed on this one......I know that cant be true but why wasnt anyone buying today?
on my etrade account there is no bid and ask for fep.l.......not sure if they post one since i cant buy any fep.l shares thru etrade anyway.
on yahoo it says its up but that was actually yesterdays date so i wonder if they stopped trading this today or if theres a holiday in england or what......
there a large buy order< 1 million shares> at .0075 pretty much buying back all of todays selling..........wondering if its the market maker just rebalancing his bid and ask lower for whatever reason....
Im a bit suprised nobody has chirped in on this board yet with this more than average volume.
I'm maxxed out.....i did my christmas buying of this stock today....done for the year.
time to slap the ask guys!!!
a good chunk 250 thousand shares available at .009......its been lower before but not so many shares all at once.
good luck to all....i got mine at .0093
p.s...... If that ask gets slapped we might be looking at just about the highest volume all year..... an oddity? butterflies? inside info? will be interesting to find out if this was a good opportunity to buy or the continuation of more bad news.
most volume in 3 months so far today.......was there a news flash somewhere today? or just someone selling their shares bought at .005 just 3 months ago?
could only represent someones $10,000. dollar investment made a lil while ago and possibly getting out at breakeven prices for him.....
I will follow the volume closer from these day forward but fep.l is actually up so far today.......
good luck to all.
Just a reminder....Philex did offer to buy fep.l at 48 pence back in 2008<but before the china hurdle> and fecof is already trading at around those prices/worth of its fep.l shares...
if this isnt around bottom then i really dont know what is.
most volume seen in a while...
and thus its good not to chase this stock when eventually the price will dip lower to fill your open order..
I scooped up 100,000 shares...... moreso to average down than to expand my holdings.
only time will tell if i am the stupid guy still adding or if the person selling just got tired of waiting or lost faith..........hard to tell when you dont know if the seller is breaking even from just 3 months ago ...or profiting from 5 years ago.....or if its just the market maker with his gifted shares making a market for this "dog for now" stock.
At the end of the day it shouldnt matter who is selling and for what for......whats important is why are you buying and for how long?
i hope they start drilling somewhere else first so that could be the litmus test instead of sc72......the more the merrier instead of giving china its biased and strengthened "BI-Lateral negotiations"
All this red dash line garbage never made sense to me since malampaya is in that region.arent t hey in the dash line zone?
below is a year old article, nicely written and adressing that same issue.....very relevant riece.
http://businessmirror.com.ph/index.php/en/news/top-news/7302-manila-firm-vs-china-in-sea-dispute
summarizing it all.....what it all comes down to.......why wont china just buy fep.l for 2 billion and get it over with.......
Simlpy because sc72 is just the beginning,,,,,,its the litmus test of them getting the rest of the oil and gas the spratlies and reed bank have in store.....below is an old article just to remind everyone whats really at stake and whats up for grabs.....it seems that if there was a mutual fund owning just the oil service providers in the area...shell asia, cnooc, pitkin, nidof, etc.....you can profit handsomely from it all one day.........after all exxon mobie is just about the largest company in america and the total of the reed and spratlies "may" one day come close to rival that.
http://thechroniclevarsitarian.wordpress.com/2013/02/11/reed-bank-holds-huge-oil-gas-reserves/
very good flow of events when more countries in the region harp on their "EXLUSIVE economic Zone" and sovereignty........a few more.at least two more countries getting on the same page will make china realize that they wont be able to stategically fight 4 nations at once in the south china sea as they will find their navy surounded...........and on an economic level embargos will be held against their products......if the us would join the "say no to made in china products"..this would make china realize who really runs the show,,,,,,,,,,,,,,,,,,flipside is that walmart would go out of business.
http://finance.yahoo.com/echarts?s=FEP.L+Interactive#symbol=fep.l;range=5y;compare=fecof;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
I am not a chartist.....I prefer to follow the peter Lynch method which would exclude this stock ..............but I dont always follow my own advice and take some risk here and there...
Anyway , the chart is ONE good piece of the puzzle........wouldnt tell anyone to use it as a stand alone method....
I like the price of a penny here as it has a nice distance to move here upto fep.l's current chart on REAL NEWS ......which the two seemed to meet up on those high volume days
we agree on most things here but i cant see how this could reach .50 cents before a successful drilling is made..to at least have "provable" over "probable.......so when it comes to stages.the deal anouncement from companies will be one that hits 5 cents<imo>....and the govts aproval should be well over 10 cents.BUT ONCE AGAIN....HOW MODEST OF A POSITION will FEP.L be left with to get this done?
sounds like philipines held on to only10% of malampaya to get contractors in and spend 3 billion on the project.....maybe fep.l will get 10% left and under...Its a total guess....I'd like to hear back from someone who is more of an OIL analyst than I attempt to be..... I really have no clue for sure.....I just like to invite conversation on it........maybe learn from feedback.
as far as volume goes...the 10 day volume was under 48,000 a day....or $480 a day,at roughly a penny......that means if you were the only one buying it....it would have taken 10 days to buy a position of just $5k worth of shares,,,,500,000 shares....not my opinion...its right there on the fecof avg. daily volume chart for 10 days.
I think if someone needs to pull out some cash for christmas its very possible/feasible to offset your winning positions with your losing positions to avoid the large capital gains tax.....and then buy back into the company you sold after january 1st, thats if you still want to own that company's shares......and lets face it,,,,fecof is definitely red for the year as oppossed to most stocks being green,,,,,,,,,
best of luck
interesting to see mvp in a youtube video and reflecting back to a "horrible year" of 2012......so much for the video mvp's golden touch,,,,, clip ends with a hopeful remark of "patience"
"the spread"
the difference between the bid .0088 and the ask .0199 is more than 100% difference.....
it only took 400 dollars worth of buying power to take out shares offered at a penny and we are near two pennies if anyone wants to build a position today......
what does that mean?
there arent many sellers, including the market maker at the penny mark.....although any negative news with fep.l will scare some investors to unload some fecof shares and tax selling to offset some profits from the redhot stock market this year, will also give us some volume/selling in late december................i'll scoop some up in mid to late december under a penny if it comes to that
But overall this stock is getting very tight on people willing to sell their shares at these prices even though its still lacking buyers as well.
summary
any positive news will skyrocket this stock in accordance to the tight supply of shares....
there might be people more than happy to unload at 4 pennies after such a long wait.........and only time will tell if the buying power will outnumber the sellers at those levels when that time comes.
the warren buffet way is also to just buy and hold stocks that will have a growing cash flow and to disregard whats popular to do in the short term,,,,,,,,,,,,he also has preffered shares and majority ownership in those companies which gives him a one-up against the rest of us<writing profitable call options>........but regardless the strategy to hold a company until it becomes the giant it can become has proven a winning strategy for him....
I sometimes worry that the philipines might just let this contract expire and squeeze out pangilinan/fep.l.................he has to walk a fine line with them, but they should keep extending while the conflict exists.
I also have to admit that the fact the chinese let cnooc meet with fep.l it shows they validate in some way fep.l's service contract despite the fact that they say they/china owns the reed bank........lots of contradiction there......
when i said in the previous post that this could be a 12 cent stock i mean thats the stock price it should hit on the day of signing an agreement where someone like cnooc or shell.etc........is willing to pony up 5 bil to become a part of this service contract/company.........if you are willing to wait 8 years you can see much more...over a dollar.........the biggest percentage increase in stock price should happen within the first 3 years.........after that i will probably diversify and see about doubling that money in other stocks.
some history of where we were, how we got here, and where it may be going<I dont know how old this article is/theres no date on it>.......a key line in this article is quoting Pangilinan as saying " a modest piece of this project" to get the 5 billion investor/head contractor is worth it, has me guessing HOW MODEST? is he talking 10%.....5%?
lets just say its 10% for arguements sake<if its 5% then just halve the numbers>...........10% of a project that is ponying up 5 bil means one perspective is that 10% represents 500 million of its share in that project.....i think it took malampaya 3 years to recoup its expenses and had pretty much clean profit after that.
so if fep.l gets that 10% stake without ponying up that 500 mil for investments, then in one perspective fep.l is worth 500 mil and fecof is worth roughly 125 mil when that deal is done.......roughly 25 cents......if its 5% than its worth about 12 cents.........just another way of looking at things..........like looking at BOOK VALUE or CASH.
ANY IDEAS WHAT YOU GUYS THINK THEIR MODEST % WILL BE?
anyway , below is the link to the article with some nuggest of history, connections, and past quotes hinting to future outcomes.
http://koreanewsonline.blogspot.com/2011/09/philex-petroleum-shares-bubbles.html
damaging articles like this have swayed china to act......and indirectly this has brought to the attention of many that china has been harassing philipines for the "reed bank/sc72"......blessings in disguise maybe? maybe blessing is the wrong word but you can definitely draw a positive out of this as the world opinion will dominantly stand with the philipines after these recent outcomes and knowledge of chinas cold attitude for something thats not even theirs.
http://www.bloomberg.com/news/2013-11-14/cheapskate-china-wins-no-friends-in-philippines.html
chinas response toward the typhoon reliefe for philipines.
is it telling or reflective going foward? you be the judge.
http://www.reuters.com/article/2013/11/15/us-philippines-typhoon-china-idUSBRE9AE0BA20131115
that would be a nice picture...good enough to add 4 or maybe 5 pennies on the price per share.....
but the really good picture that will move us above 10 cents is not the picture of mvp but of aquino shaking hands with china on an agreement or political understanding/agreement over sc72.......actually an mvp/cnooc picture<agreement> will only up the stock shortterm followed by a crash if there is no blessing from both countries shortly after.
if china never made the reed bank an issue 3 years ago.......the mvp/cnooc handshake would have been enough by itself to bring us to 10 cents ,,,,,,,with daily volatilty at those levels....will be lots of profit takers there as well as new hands coming in
HLIGHTS right off forumenergyplc.com <annual report 2012> I will be looking forward for the 2013 annual report in a few months i believe
OPERATIONAL Highlights
• SC72 seismic interpretation and resources update
completed in April 2012, which showed an improvement
in the resources previously known and supported the
case to proceed with the drilling programme
• Granted an extension to August 2015 to complete the
second sub-phase obligations of drilling wells on SC72
• Libertad Gas Field power generation commenced
in February 2012
• Upgrade of the Galoc floating production, storage and
offloading vessel completed on schedule in March 2012
• Participation in the Galoc Phase II development approved
Financial and Corporate Highlights
• Revenues of US$4.5 million in 2012
(2011: US$12.7 million)
• Gross Profit of US$0.9 million in 2012
(2011: US$5.8 million)
• Net Loss of US$1.0 million before impairment charge
in relation to SC40 (2011: profit US$3.4 million)
• Non-core investment in SC40 written down
by US$25.4 million to US$3.3 million
• Net Loss of US$26.4 million after SC40 impairment charge
• Cash of US$5.8 million at year end (2011: US$2.8 million)
• Loans payable at year end US$15 million
(2011: US$6 million), due to Philex Mining Corporation
<stylgian> hey guys....didnt they get that cash added in 2012 by diluting their shares by selling some shares? cash went up while revenues went down so i do think thats what happened. My memory is vague.....we will be seeing very soon how they handle this loan repayment....would be great if they can just pay some interest on it and leave it at that, but i think the repayment is more strict than that. I'm just somewhat more worried of further dilution......I'm not saying it wont be the same high reward stock that it is.....but it would still suck to see that happening when we still have such a big wait for sc72.
in an article 2 weeks ago petilla is quoted
"PETILLA said the situation now presents two options. First, Petilla hopes that the Philippines and China set aside their differences so the consortium behind Service Contract 72 can proceed to drill. Second, Petilla cited that liquefied natural gas (LNG) could be tapped as replacement for Malampaya natural gas. "
what consortium? is he "mispeaking" like when obama promised people they can keep their healthcare provider,
or is that a slip of the tongue?
i personally dont think talks have moved along much but i do try to gather new info from any new quote.........and this quote is either misleading, in hopes for, or a slip of the tongue.
A consortium is more than two....instead of a partnership which is usually just 2. Pangilinan <MVP> did say he wanted cnooc BUT with SHell as well to depoliticize and multinationalize sc72 so He is either referring to a
hopeful strategy or inside info.....
would love to see "something on paper" and ULTIMATELY chinas blessing to move forward.................lets face it......fecof is those 3 girls in CASTROS HOUSE, and we will be stuck in there against our rights until someone breaks us free or he lets us go.
contrary info
this info is from the link i just posted before and it contradicts the 165 billion pesos/3.7bil usd in royalties AS much more
and this article is older so i dont know which figure to trust
Total royalties
Data from the Department of Energy (DOE), the lead agency for the project, showed that the government has received a total of P228.45 billion from the Malampaya project since the complex began producing natural gas commercially in 2002.
The amount represents the royalties turned over to the government as of November 2011, data from the DOE showed.
Under the service contract agreement, 70 percent of the gross proceeds from the sale of natural gas goes to the contractor to recover the investment cost. The remaining 30 percent is to be shared by the government and the consortium on a 60-40 basis, respectively.
Read more: newsinfo.inquirer.net/131653/govt-gets-1-1-b-share-from-malampaya-project#ixzz2kYf2moJ4
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
http://newsinfo.inquirer.net/131653/govt-gets-1-1-b-share-from-malampaya-project
in the link above it gives you an idea of whats the breakdown and royalty situation that helps us get a more fair comparative to the reed banks potential profits after costs...etc.
granted sc72 is said to hold 400mbarrels of oil but thats another project to get at those reserves....still they should be there and give us equity.....
the highlight on the link above is that the phil govt. is getting a 60/40 split with the consortium of the remaining 30% left after the contractor/shell.
if i understood right pnoc is a phil owned company that also owns 10% of the project so it gets confusing if they include those as royalties as well or seperate....
please have a look and let me know......for now i equate it as if those numbers ...165 billion received in royalties comes from something like a 14 or 15% stake in malampaya.
Side note: over a year ago I remember reading a quote by the fep.l president that he was willing to give away a huge stake in the project to a contractor to get this done,,,,,my gut feeling tells me that fep.l would end up with something roughly to 15 or 20% of this venture.....maybe the first exploration well can up them to more like a 30% stake....i really dont know for sure.
the math is there we just have to dig thru it better.
is it worth buying upto 2 cents with sc14/galoc flowing again? I definitely think its worth a Gamble
true........ even convincing your friends to buy some here is not an easy thing to do.......... I swear i think people are more prone to trust a snake in a suit<90% the stockbrokers> then their own relative or friend.......i get this look like......."if youre so smart why aint you rich yet?"
anyways....getting back on some relevant research i wanted to see if i can make a better comparison evaluation than the leviathan comparison which is in a totally different part in the world and is said to have the best premium grade oil in the world.....
while searching i found a relatively new article we overlooked which is telling of the political mindset <pre-typhoon>
on funds from malampaya....in the article it states how much malampaya has generated since 2001 for the philipines royalties............I once knew how much % of the royalties the govt was getting but i forgot....i need to search for it again but i do remember they got a bad deal and thats why they are adamant on getting a 50% royalty in the reed bank.
My guess is that they were getting LESS THAN 20% royalties but i will update the exact figure soon....
and the article states that they have received 165 bil in pesos since 2001,,,,that is equal to 3.7 billion USD
multiply that by at least 5 to figure out what the whole profits were worth....and we are looking at malampaya in the green of AT LEAST 18 billion dollars...maybe 20 billion.
sc72 is bigger but fep.l owns 70% not 100% so the comparison is similar
Differences are also that the phil govts share is received without taxes......fep.l will pay taxes after its costs on its profits.....
nonetheless......2 billion<small number> would equal fecof at 500 million market cap and thats roughly a dollar a share right there.......thats how i roughly guestimate possibly 50 cents a share in 3 years god willing the chineese back off somewhat...........hell take the spratlies but get off our eezone..anyways below is the article
Petilla’s ‘wish list’ of power projects funded by Malampaya royalties
Details Category: Economy
26Oct2013.
Written by Lenie Lectura .
IF Energy Secretary Carlos Jericho Petilla would have his way, he wants to spend the remaining Malampaya funds right away. That’s if there’s still anything left to spend.
Amid the controversy on the alleged misuse of the Malampaya fund, the Department of Energy (DOE) has drafted projects that could be funded by the Malampaya royalties, which, according to him, amounted to P130 billion as of August this year.
“If you ask me I will spend all of it, not a single centavo left. I’d like to spend all of it ASAP [as soon as possible] for energy-related projects which are badly needed,” Petilla said in a phone interview.
The Aquino administration, Petilla said, has so far used P15 billion of the government’s share from the Malampaya project, which totaled P165 billion since the project commenced in 2001. The previous administration, meanwhile, used up almost P20 billion of this amount, according to Petilla.
The energy chief was not able to provide an exact breakdown where the P15 billion was spent. He could not also say if all were allocated to energy-related projects. Petilla just said the government used the funds for the fuel requirements of the National Power Corp.-Small Power Utilities Group, for the Pantawid Pasada fuel-subsidy program for Jeepneys, and for the cost incurred when it took delivery of a Navy ship from the US government.
Wish list
PETILLA enumerated a number of projects that can be funded by the Malampaya deepwater gas-to-power project, a joint undertaking between the Philippine government and the private sector, assuming that there are enough funds left.
On top of his list is the installation of solar panels for houses. “The concept here is that the funds from Malampaya will be used for financing not as a grant but more as a loan. Solar energy will reduce the need for additional power plants. It’s cheaper and greener,” Petilla said.
Initially, the DOE is targeting 1,000 megawatts (MW) in solar capacity to be distributed to 100 houses.
Malampaya funds can also be tapped to electrify more barangays in far-flung areas, he added.
If there’s money left, Petilla said he wants to beef up the security of the Philippine Navy and the Philippine Coast Guard so these, in turn, can help thwart threats from neighboring countries that claim ownership of, say the Recto Bank in the West Philippine Sea, where oil-exploration work has yet to start.
Recto Bank is covered by the oil-and-gas exploration contract awarded by the Philippine government—Service Contract 72—where Forum Energy Plc. has a 70-percent stake. Forum Energy is 64.45-percent owned by Philex Mining Corp. The company was supposed to conduct geotechnical investigation that would include surface exploration, but was unable to get the required approval from the government due to diplomatic issues with China.
“I am about to issue more oil-exploration contracts, but how do you expect the private sector to conduct exploration work if there are threats. We continue to be bullied because they see that we can’t protect our assets,” Petilla said.
The Philippines is of the position that Recto Bank is an undisputed Philippine territory. China, however, claims it as one of its territories.
“We don’t want to cause a World War III. We are not being confrontational but if they see that we lack the navy ships that could escort the drillers when they conduct exploration work, then we are easy target. The security of an oil field is extremely important,” Petilla added.
The energy chief said these are merely proposals that have yet to be firmed up before the DOE actually makes a formal presentation to President Aquino.
“I would like to get the feel of Malacañang. Though I think they are open, but with the ongoing controversy, there are also others who would want the remaining Malampaya funds untouch. Let’s see,” Petilla said.
Misinterpretation
WITH P130 billion left from the Malampaya fund, Petilla assured that the entire amount will be spent for energy-related projects as far as the present administration is concerned.
To safeguard the release of the said fund, the agency is pushing for the issuance of a clarificatory executive order to make sure that the Malampaya royalties will be utilized for energy-related ventures.
“The interpretation of the previous administration was that the funds can be used for any projects as long as there is an approval from the President but the current administration said it can only be used for energy-related projects. It’s a matter of interpretation and so to avoid confusion, there might be a need for the issuance of an executive order that will clarify the law,” Petilla said.
Section 8 of Presidential Decree 910 states that “all fees, revenues and receipts of the board [Energy Development Board] from any and all sources, including receipts from service contracts and agreements, such as application and processing fees, signature bonus, discovery bonus, production bonus; all money collected from concessionaires, representing unspent work obligations, fines and penalties under the Petroleum Act of 1949; as well as the government share representing royalties, rentals, production share on service contracts and similar payments on the exploration, development and exploitation of energy resources, shall form part of a special fund to be used to finance energy-resource development and exploitation programs and projects of the government and for such other purposes as may be hereafter directed by the President.”
“The President already said the interpretation is really energy related, so you can be assured that for the term of the President, the funds will not be used for any other projects other than energy related,” added Petilla.
The energy secretary gave this assurance amid reports that some P900 million from the Malampaya fund was allegedly distributed to 12 bogus non-governmental organizations linked to businesswoman Janet Lim-Napoles, the alleged mastemind behind the pork-barrel scam.
Malampaya gas running out
PETILLA stressed the need for more exploration projects so that by the time that gas from Malampaya runs out there will be other alternatives.
He said the Malampaya deepwater-to-gas field in northwest Palawan would eventually be depleted by 2020, which is why the country needs to find other sources of natural gas.
At present, Malampaya supplies to three natural-gas-fired power plants with a total capacity of 2,700 MW.
“I hope we can drill, but we can’t. As long as we can’t protect our assets, we can’t drill,” said Petilla, who was referring to the Recto Bank, which has far bigger reserves than in Malampaya.
The DOE has said the natural gas at Recto Bank exceeds the 2.7 trillion cubic feet in the Malampaya Natural Gas Field, which has for years provided the country billions in revenue.
Malampaya now supplies 40 percent of power to provide electricity to Luzon. Of the 2.7-trillion cubic feet of reserves in the field off Palawan, an estimated 1.2-trillion cubic feet of natural gas has been used.
LNG
PETILLA said the situation now presents two options. First, Petilla hopes that the Philippines and China set aside their differences so the consortium behind Service Contract 72 can proceed to drill. Second, Petilla cited that liquefied natural gas (LNG) could be tapped as replacement for Malampaya natural gas.
“We hope the territorial dispute can be set aside for the meantime and allow the drilling to be finished. If not, then we can’t drill. Since we can’t drill, we move to LNG but LNG is imported and we don’t make money out of it,” Petilla said.
LNG is natural gas that has been converted into a liquid state for easier storage and transportation. LNG is then regassified and distributed through pipelines as natural gas to target facilities.
There are already a number of firms that would want to venture into LNG and develop LNG facilities.
Pilipinas Shell Petroleum Corp. has said that it will build an LNG regasification terminal beside its refinery in Batangas with an estimated cost of $1 billion.
First Gen Corp. of the Lopez group earlier announced plans to put up an LNG terminal by 2016. Construction is being eyed as early as next year in order to hit its 2016 target.
First Gen expects it will probably spend at least $1 billion for the terminal to be built on a 20-hectare lot near the company’s Santa Rita power plant.
France-based petroleum firm Total is also evaluating plans to supply LNG and partner with a company that will built an LNG regasification terminal.
db7, very good point BUT
your closest friends might have wished you told them about the penny price speculation before it goes to 10 cents with a deal announcement..........still making it a strong growth/speculation play going forward.
buying a stock after a 1000% move will be difficult for most.....althogh if all obstacles are removed one by one we could see this as a record stock mover in the top 10 of all time.