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I'll be looking to join the group very shortly Irish . As long as there's no power of attorney to sell my shares for me in my name or anything weary like that I'll probably join soon. I need to read over the paperwork but I'm travelling now
In response to why the fecof share price doesn't correlate with the rise in pxp share price......
Some of you may have forgotten or are new on this board , or even trying to stoke fear on this board for weak hands like someone who recently sold close to a penny . I'm sure our pxp parent company would love to buy our remaining ownership of fel. (Forum)for the measly some of 5 mil market cap at where we are roughly now at.
You must all take note and question the strategy and motive on why this happened here:
Fecof use to have the same "evaluation" model as pxp which reflected their equity worth or presumed equity worth in forum energy shares.
The chain of events the way my critical thinking sees it was that.
Forum energy was trading in London and they removed that because it was way undervalued compared to the market exuberance for the same shares of pxp energy. I think the difference was only 20% of pxp price was reflected in pxp's same ownership. Since a company wants to remain a high market cap as to get loans in the future they realized they had to kill off fep.l. Which is now known as fel. Forum energy limited. Then they could argue that their valuation for forum market price shares were looked at with their equity model of presumed hydrocarbons and private market offers. They could borrow easier against this market worth buy ridding themselves of fep.l which held them down.
At that point fecof had the same valuation model and this was a problem for them (pxp puppet management) as they didn't want that to be the reason why they would have to pay more money for fecof shares than what they could pay as their intention was to slowly suck the lifeblood out of the company and slowly transfer fecofs shares to the parent pxp. Doing so by way of excuse to pay down debt or to run the company with new cash.
Pxp owns the majority of fecof. So their best interest to the majority shareholders is to steal the rest of Forum away as quietly and as cheaply as the law allows..... although they have been sloppy and have shown conflicting interests in loyalty on whose on fecofs board. The sec is looking for bigger fish to fry or they would have seen the fraud I easily see.
The new valuation model for fecof is whatever the last forum market price was or an evaluation of it. But forum as a sole entity does no longer trade and so therefore the last time they took our forum shares to "run the company" they dropped the Forum price to .20 per share compared to .50 a share previously previous model method.
This is why we need this company
1.to be more public with its news /announcements to attract new investors .
2. The investors must have a united voice against fecofs board which is clearly looking out for pxp only and zero interest to its minority shareholders. Is!! That's why we need a united voice to even threaten them with criminal charges. Financial lawsuits don't scare as it would only make the company defunct quicker. Suing pxp is possible but hard to do when dealing with a company owned in another country such as the philipines.
3. Our saving grace would be a deal made as soon as possible before more threat of excuses for diluting our forum shares to raise capital for nothing more then the scam they've been doing. If we were united we could offer to take the subscription of new shares in either forum or in fecof new shares, ourselves . Making an offer price and forcing pxp to pay more rather then to steal the company as if the entire forum company is currently only worth 4 million dollars .
4. Someone like Denison makes an unsolicited bid for fecof because the equity is there if sold or allowed to sell under pxp. The offer alone though would give us more equity value which in turn would support a higher share price and new investors coming in to reflect a fair valuation.
I know my answers are long winded but I don't want to miss anything and keep repeating the answer.
I'm still holding 5 mil shares strong. I'm still hopeful with current events playing out but this deal won't be signed overnight. The framework alone won't save us . We need the cnooc contract asap and even then if we don't have a united voice to force pxp to recognize the key points I said, you will see fecof drop while pxp goes up another 200%. Please write to Wallace and the rest of the board!! Now!!! And often!!! Accountability under threat of criminal charges is the way to proceed. They did not have proper disclosure and did not offer to subscribe fecof shares but rather stole forum shares on the dirt cheap. Their pxp stock reflects forum market cap to be around 600 mil. Not 7 mil as portrayed in our last theft of our forum ownership .
One last thing to be fair. Apx shows their shares in forum (30% ownership) to be much less undervalued than what pxp shows. But pxp shouldn't be allowed to have it both ways regardless.
Correct me if I'm wrong../.
Last time these criminals diluted our ownership in Forum equity instead of diluting our shares instead, they gave us 20 cents for each Forum share they stole. So with 33 mill outstanding shares of forum at the time. That's like saying Forum as a whole was only worth 6.7 million dollars (33mil shares x 20 cents a share).
Meanwhile pxp trades at 500 mil mainly for their Forum shares. Effing criminal!!!! Even when it was 50 cents before that it was still criminal and they used that cash to pay off their employees running fecof into the ground!! Thieves
A serious investor (millions) would only end up with a minority stake because pxp controls the majority. And if pxp is hell bent on stealing our shares under the excuse of dilution and getting it for a penny or less, then that's what they will do.
I'm tired of the ignorance this board has had before.... wow they paid 20 cents a share..... no they didn't. They are buying our sc72 (forum) shares away from us for peanuts rather then selling fecof shares at let's say 2 or 3 pennies to raise capital. Then the cash they get , they use to pay off their pxp cronies who control the stock. Without threat of criminal charges brought up to them, they are brace enough to repeat this seemingly unpublishable crime.
So why do I still hold these shares? If the deal gets fuzzing signed then there is more of a chance that someone like Exxon or shell, in that realm will make an unsolicitated offer to buy fecof as a whole for their forum shares.
I don't doubt that this Denison guy asked about fecofs shares and was shied away from it by pxp themselves to do the deal the way it best serves them. When and if the contract gets signed and pxp shares as well as apx double in price, I somewhat still hopeful and feel someone will ask for fecof full ownership to have even that 8% play on
Sc72
We must show fecof management that we are organized by religiously emailing the management /puppets for pxp and make them think twice about scamming us again..... that we are watching and will chase criminal charges on them if they defraud us in this stock this late in the game of a contract having its value. Even a speculative value at that. Don't expect Irish to play lawyer forever . One man is not enough, but united they will listening Ali more.
I would even suggest a possible union between people interested on making an offer for forum shares ourselves if the company plays the debt excuse again. We can unite and say we want to buy x amount of forum shares as the minority base at let's say 3 cents a share ...... or more fecof shares with the Forum stake still in place..... just an idea. Just buying fecof shares in the open market. Just isn't good enough to keep them from selling away our forum stake under the table. We need to demand the sell shares to the minority union(when we build one), as their first choice before further diluted ownership in forum shares and making the company's speculative equity worthless . Another 5% taken away from the remaining company will leave fecof with 3% ownership which is garbage. Help save your shares by threatening fecof management with criminal charges for not trying to get a better bidder like this Denison guy who just showed up.
Good detective work eom. Definitely a connection there. Must have heard from his friends at cnooc The likelihood of the deal happening
The reason pxp was rising yesterday was mainly this. The fact that apx went up to shows its more about sc72 than pxp's peru projects thru their pitkin subsidiary not connected with fecof. Summary. Fecof should gonup too.fear of fecofs biased board is holding us back , holding us hostage. Email those cunts at pxp.
https://www.bworldonline.com/dennis-uy-investing-in-pxp-energy/
I think that was yesterday's news. There must be some insider stuff regarding sc72 since both pxp and apx are at multi month highs and almost yearly highs. It's significant when you consider a very healthy volume boost behind pxp's rise.
Keep your fingers crossed, but also heed Itishs warning that we all need to religiously voice our concerns and demands for accountability and justice for our fecofs shares because these fecof puppets could easily ignore fecofs lack of publicity , allowing the shares to drag while pxp takes off , and using dilution in the future as another excuse to steal our shares and value. Be responsible and write emails to fecofs board!!! Copy and paste the same one from your draft every week if not daily until they reply!! Without marketing the firm to the investor public its shares will not rise. I'm tapped out. I'm not buying more, I'm waiting for a deal to happen and see my shares fairly priced.
Good luck to all
Pxp holding strong
And apx also at near 6 month high for
Thumbs up to irish's plead for a concentrated effort and collective voice against the abuses Fecof has suffered and is at risk of suffering again if we don't stand up together and let them know we plan to hold them all accountable and with possible criminal fraud charges if they dare dilute us again so flagrantly when we are so close to finally cashing in. This is a big reason new investment in Fecof is not rolling in but is doing just fine with pxp and Apx. We should all bombard them with 5 emails each!!!
I would also like to add that by unifying we can possibly reach out to potential interested parties in sc72, including Shell and chevron if not cnooc thems lives, on making a soft offering of our shares at a specific price , encouraging them to make an even bigger bid for the company as a whole!!! Ironically this is how first pacific made a move on philex who originally owned pxp before it was spun off as an ind pendent company. So this is a valid strategy!!
I for one am happy the annual shareholders /general meeting went the way it did with you. Their (fec management) half assed ,answers ,that will always be biased and leaning towards their masters pxp , are quite useless to us anyhow. What's important is that they know we will be looking into fraud crime actions for past dealings as well as possible continuation of fleecing us our rightful worth of this company , especially when or if the deal with china is signed ( the sooner the better).
A good healthy dose of fearing our core base of minority shareholder stake ,from filing serious legal actions and criminal charges is they so blatantly continue to fleece the company. What good is a Chinese agreement anyway for holders in fecof if they pull the same stunt they did last year and many times earlier. Pxp could go up 1000% and they can sell our stake for 1 penny with a fake argument that nobody wants our shares and that's the liquidation price.
MuCh MUCh better to fear us!!! It's harder to correct their scam after the fact so prevention thru fear is good.
I only worry that our core base is getting dismayed as if it's a losing battle with fec management having all the control and being biased towards their overlords pxp and company.
I will Hold my 5 million shares and will join legal action to when organized to do so. We are the only reason this stock trades at all.
My friend is an economics major , he is educating me on leveraged buyouts.
If the announcement happens and everything pops But fecof is stuck at 2 pennies, we must at that point do what fec management refuses to do and find buyers willing to make an "offer" to the company at a set price of let's just say 20 cents for arguments sake. Getting bigger players, Chinese, American or whatever to make a bid on the whole company for a set price of let's say 50 million is not impossible. Fecof at that point can refuse the unsolicited buy-out as they have the majority voting shares , but a precedent for minimal price will be set. And the stock could move even higher from there with exposure and institutional buyers. Just my opinion guys. I'm not a financial advisor. Do what you think is best for yourself but if we continue to hold this close instead of dumping, and with more fire power for legal action then ever before , we have a 50 50 chance. If you try to sell anything over half a million you will send this stock into sub pennies creating a horrible base hard to dig out of.
The last time we were talking about a framework contract approval or close to it the stock hit as high as 6 pennies in anticipation with 10 m shares traded(combined that week). It's all about perspective.
Besides their biased attitudes and conflicting loyalties, Did they discuss the likelihood of sc72 having a good chance of being completed or how they would handle the next time the company faces a shortage of cash and if they would consider better options then selling off equity stake to their parent company?
Please ask them what they plan to do about marketing the stock having ownership in sc72. The process of disseminating information to the public. Especially with framework announcement agreements pending. Pxp could shoot up to 30 and we could still be stuck here without proper promotion to the public for new investor interest.....that we too are a play on sc72. Thanks
It may or may not. But this is needed to show china that their bull crap needs to stop right now and to uphold united nation laws and business laws. What good is it to make a contract with China if china breaks it and just says. Oh. We will just drill on our side of the reed bank. Make a vertical pipe and suck it all up. I just don't trust those bastards at all. If this leads to ph saying f China and working with us and multinationals drill it instead I'll be more the happier. I risk my investment but I'd rather not see my planets future go to hell with these unchecked communist pigs
https://m.scmp.com/news/china/military/article/2166910/us-navy-plans-major-show-strength-south-china-sea-warning
Depending on how China reacts to this if and when it happens may or may not affect the timetable of sc72.
Pxp is a good sign of where Fecof will be heading if this gets done in the next 6 mos or so . Pxp close to 17 today is a very positive sign 8 mil volume. Behind the curtains things must look positive somewhere
https://www.foxnews.com/us/chinese-destroyer-made-unsafe-and-unprofessional-move-toward-uss-decatur-in-south-china-sea-official-says
Finally getting picked up. some
Mainstream news. (Fox News)
If it goes to CNN they might spin it as "trump tries to steal islands from Chinese" .lol
https://www.google.com/amp/s/amp.cnn.com/cnn/2018/10/01/politics/china-us-warship-unsafe-encounter/index.html
These kind of events could only benefit ph govmt ant Fecof. When trying to negotiate a d al for sc72 with or without china. It lets china know that they no longer can do whatever the f they want is the s china sea. Obama is gone. Trump isn't going to allow that crap to continue.
Somny. You keep repeating that the ph really needs this. Nobody has denied that, it's not them dragging their feet. It's china!! I've read the art of war. And even when practicing A half ash method of the art of war /business strategy by the megalomaniac communist Chinese , they will more than likely use this method of stalling the project to get the ph to a more desperate act of negotiations to give up more for the same reasons you keep repeating. China has stalled and made empty promises to many nations before. The slow takeover of the entire china sea is by using these exact tactics of empty promises as they slowly boil the live frog in the pan. I'm tired of their stallling and the lies for something they will be blessed to share in in the first place. They cancelled the meeting due to weather they say and have yet to reschedule. Why not invite Ceytano to visit soon after in china instead? Where is the asap attitude that was promised 7 months ago??
Summary is : yes we know ph needs it but I don't see china making a convincing effort to get this done. Unlike a more stable and patient investment in pxp or apx. , Fecof is running out of time and money if this attitude continues. They use months I. What a normal country would use days. Beyond frustrating.!!!)! If China doesn't move quickly they need to get rid of duterte. Invite back the us navy bases and drill the damn sc72 now!!!
https://www.philstar.com/headlines/2018/09/28/1855529/us-asean-committed-counter-unilateral-actions-south-china-sea
https://www.google.com/amp/s/amp.washingtontimes.com/news/2018/sep/28/live-fire-drills-in-south-china-sea-showcase-us-mi/
The combination of these two recent articles gives a strong plausibility of the ph finally telling china that time is running out and just go with a multinational like shell and one or two others after a November deal breaker. Maybe convince duterte to resign. I'd welcome the new outcome that the loser obama couldn't or wouldn't help protect for me and ph in his 8 year sit!
I agree. That's why when Ceytano said 3 months back in April , I told people not to God their breath and to double that time frame for philipino time. I was hoping that there was an actual date in November for dinner to visit but it oils like Trump has Xis panties in a bunch with a trade war and wiith enforcing freedom of passage in a way that Obama only dreamed of. Despite trump having "alienated" his allies he's somehow managed to get them to act in unison to defend these waters with more and more navy boats!!! But as things smooth over I'm hopeful
Around mid November pres Xi makes a visit or Duterte should scrap any fake deals he made with china and give up on the fake loans never delivered by china and just cooperate with trump to dig their own back yard with Shell and multinationals who respect the international business laws and law of the sea , and enforced by the allies. Screw china to hell if they don't know an effing gift of a deal they are getting from flipflopper . duterte .
You don't need an expert to tell you that this is a speculative stock and that you should be diversified when investing without betting everything on a speculative stock. A deal like this has never been done before so there's no guarantees for such. But if it happens it will be a huge win. Or a huge loss. It still seems a likely scenario that something gets done. Pxp and apx are the true representatives of this contract being agreed or not and they are still holding up well. If it takes another year then Fecof risks being diluted again but we will see by November a more clear direction on the odds. Fear has no place in investing. Only in gambling and if you have fear you are gambling more than you can risk losing . Learn from your mistakes and don't let your emotions control your life but rather your brain. Also don't expect anybody to hold your hand if this crashes and you lose it all. We are in the same boat, but make your own choices. As to not blame others if it loses you money. . No guarantees but it's still alive.
https://www.yahoo.com/news/us-b-52s-fly-over-south-east-china-203756967.html
God bless president Trump!!
Despite Obummas asian pivot he did nothing in the China sea in fear of people not liking us . I would rather be feared!! I can only imagine if that bum was removed 8 years earlier we might have had Fecof at 1.50 by now with chevron / Shell doing the drilling instead
Sonny. Did you overlook the date on that article? March 21. 2018, 6 mos ago
https://www.google.com/amp/s/m.scmp.com/news/china/diplomacy/article/2165237/major-hurdles-and-rewards-china-and-philippines-try-forge-deal%3famp=1
Disclaimer: just because I post this doesn't mean I fully agree with everything the author has to say regarding his opinions of direction or risk. It's still relevant and informative as an updated summary/opinion that maybe helpful to newcomers.
I'm still waiting to hear when they reschedule the meeting with china regarding the framework. Pxp above 15 is the only clear hopeful indicator so far but it's time for more. Quickly!!
I could care less who is selling or buying before we get clarity if this deal is going to be agreed or dismissed. With my now 5 mil shares , 4.5 in my account and some in my nephews Coverdale trust, I'm either striking it rich or going down with the ship. It's that simple. Not knowing is frustrating.
I don't think they gave the exact date for pres xi of China's visit to Manila but if it's nov 15 then we have only 2 months. I was hoping an actual contract by then but the way they are freaking dragging their feet and postponing every single time, I'll be lucky to hear a framework contract instead. The longer they don't meet over this framework contract the more this stock and the entire deal feels pressure!!!
This is the last philipino play I will ever get involved in. This country is beyond frustrating and unprofessional. No common sense to have drilled this 10 years ago when it was clearly there's and China was still asleep and not such a bully. They went from demanding better than their Malampaya deal to asking for the same one with their biggest bullies and theives of their islands and resources. Disgusting!! Let's just get it over with already. Simply yes or effing no!!
Any idea when they'll reschedule the meeting between Ceytano and the ch foreign minister ? Ceytano should fly over there when f conditions were bad in ph weather wise. Wtf. Are they so broke they can't buy a plane ticket to china?? All this bs talk about as soon as possible and they continue to drag their feet!!! What's ceytanos phone number? I'll buy the poor bastard a plane ticket myself!!! Let's get this dog going. It's been laying on the floor forever. Move already!!
Great start for pxp. Up to 16.30 now. Barely opened
What to believe anymore:
https://www.google.com/amp/s/www.breitbart.com/national-security/2018/09/11/world-view-tensions-grow-in-philippines-as-duterte-turns-against-china-in-south-china-sea/amp/
I am using Ceytano proposed strategy of prayer but it hasn't worked for me here in the cursed sc72 for 8 years. Rumors of duterte resigning, etc. I'll stay hopeful but I won't hold my breath anymore. We are so close ,,,, for the last 2 years. Simply because the Chinese commies are the devil and cannot be trusted to make an honorable deal. It breaks my heart but goffam where are those billions in loans? While idiot duterte waited they took and reclaimed island by island. Nostradamus predicted Russia and china would team up in we3 and I. Can see a resemblance of that now. Hopefully it's just my frustration right before a deal does happen. For the very first effing time, despite unruly Chinese actions, but I have little faith in the devil china growing some wings and putting it horns away. Trump can still make sc72 happen but I don't know how long Fecof has for such a scenario. Apx and pxp are fine
https://www.google.com/amp/s/m.scmp.com/news/china/diplomacy/article/2163415/weary-and-wary-philippine-president-rodrigo-duterte-takes-china%3famp=1
Interesting take by the author. No comment
I knew not to hold my breath when Ceytano mentioned 3 or 4 mos 7 mos ago.
On a positive note, jse.v which is the company in charge of the other contract that may or may not happen simultaneously or even before s 72, had see its stock rise to 70 cents which is a good move from where it's been 2 mos ago. Doesn't guarantee a damn thing but it's a positive and hopeful sign that maybe management is adding to their shares. Hopefully something good come out soon.
Yes I agree
The only way we get screwed is if china takes forever or demands too much and we get diluted again 1 year from now if a deal isn't done. Chevron can come over n but as I said. If it takes a year pxp may play its game again and dilute us to crap. I'm still hopeful but this is the reason I'm not adding any more. I'm diversifying. I have closeti 5 mil shares and I'm should have never put this much on one stock but sometimes you take risks. I'm fully loaded. Good luck to all of us.
Nobody should be selling or buying this stock based on somebody else's buy or sell purchase. It means nothing. And if China walks away the deal gets done with chevron.
That article with the title China philipines oil and gas exploration are n 2 months is misleading....
The following paragraph states "agreement". And then further more it makes reference to the framework. So if anything.... he might have pushed back the framework contract to 2 months. Not actually drilling it in 2 months. Big difference.
Rim. There's no other assets. We liquidated them as they were a continued draw on expenses and a losing venture. Only the fep shares right now and we're lucky to hold on to what's left the way they run this company, let alone to start new projects. Fep can start new projects. Not Fecof at this point in the game.
Rim. There's no other assets. We liquidated them as they were a continued draw on expenses and a losing venture. Only the fep shares right now and we're lucky to hold on to what's left the way they run this company, let alone to start new projects. Fep can start new projects. Not Fecof at this point in the game.
I'm too busy praying like Ceytano told us to.