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hhm.... i guess i got less than 1% of the company then .......lol..... i'm hoping for at leat 1000% return from here.around 35 cents.....but i'd love to get more if i could.......short term though i dont see a dollar.....but if you hold it for years you might go above that..i'm sure though china could buy lots of shares of both these companies ......actually all they gotta do is buy philex for 2 bil and they are done........or philex's parent company..........it shows you that china would rather be agressive than to be smart...these people are still stupid and dangerous
Zero volume.....yeah...
I have to admit that the govt must know more accurately whats really in them wells..... two countries actually fighting over control of FEP's sc72....<china knows because the previous phi govt let china check it out with the survey and was probably gonna get bribed off into letting china have it, the chinese can still taste it>.... they even got the US involved,,,,,so they must know for sure those numbers are checked out and quite possibly be larger than originally thought.........it will be a much ado about nothing if theres nothing in that field. The philipines would still want to protect their lines, but the US wouldnt have jumped in so soon if they werent sure of the resource.
well.....we aint buying today because most of us here are overextended on this investment already........I broke my 20% rule a while back on this one.
BUT the good news is nobody is SELLING either,,,,,,,PAY US..............someone tell the chinese they can buy my 1% of the company for 200 grand,,why waste bullets?
on second thought, this is excellent news,,,from something that could have been a dead project because of chinas agression.....to something that is protected by the usa and with missle capability in an economic zone and international waters..........wouldnt want to see a standoff with a new chinese aircraft carrier because that will be the beginning of the end for everything........but then again at least i'll die rich for a day.
I will be interested to see or hear what garbage china has to say about this now.
this destroyer is the first good news in two months to come out of fep's situation......something they should have had done 7 weeks ago really...........I guess china overstepping its boundaries on the amy/douglass reef will quicken an end to this dispute.....nonetheless if they go forward with drilling it slowly becomes a mute point.....which is why china wanted to delay them from doing so.
Fep or fecof wont be moving up much even with a p.r. on this because the fear is still there..its subsided quite a bit but its still there.
These stocks will move when on the day they finally anounce someone like SHELL as the driller.....and even moreso on the day they start drilling.
Good luck and God Bless the good ol' US of A <again> for bailing this upsidedown country called the PHILIPINES and protecting something that might help the US bring down its oil prices....
i love this quote.... manila explains its new strategy going forward to protect sc72,
“We should all pray so that everything will be settled soon,”
youre right in the reasonable possibility that this is mostly part of their agressive culture of negotiating what they're really willing to Settle for... posturing and acting out for negotiations.
i think they may basically want settlements within other countries economic zones by saying.....I'll tell you what, we'll give you the economic zones which you already had and we get the whole of the spratlys.
But for them to think that anyone would actually let them drill and pump and distribute their vietnam, philipino, malaysian oil from their land and be honorable and accountable for it is insane.....how could anyone trust them in their land again after this behavior? they are not mentally well or they are of a culture i care nothing to do with.
the last 4 posts include china issuing a number of contradicting statements.....
most notably ....they didnt do anything on the iroquois, amy douglas reed bank other than surveilance........... and then saying point blank that the philippines CANT have the reed bank because its theres according to a centuries old map.....and that china cant possibly be breaking any laws because they own everything already says grandfather CHOW
For centuries, ooops....Except for after world war two where they were controled by the japs.
another contradiction
china is strong on its position that they control the entire area..........but they are willing to talk?.....they are open to doing joint ventures with others in drilling.........what the hell is that? joint drilling where? on the other side of palawan after they forcefully take the reed bank? these guys are smoking opium again, I'm sure of it.
The only question for an international lawyer would be if such a precedent exists where ocean rights continue to exist as being grandfathered and overrulling something like a 200 nautical mile economic zone protected under ucnlos.......if anyone has studied that type of area in the law please feel free to chirp in.
that 300k shares equals to 9 grand..... i bought 20 grand worth....doesnt make me any smarter.
maybe theres still hope for sc72 afterall....I just dont like that ive invested so much and now i have to resort to hope..
Heres an idea.......... why dont the philipinos go take a ship and dock it on the reed bank?? Wow.........What a revolutionary idea..............it might actually work better than going out there once every 3 weeks to see if china has already built a city on the island.....which they will claim was there decades ago.
the fact that the philipinos are depending on their fishing boats and toothless sailors as their central intelligence on the issue has me convinced what a backward country it really is.
excellent find Hain
in response to jdpro.
if all publicity, including bad publicity is good.then i would agree in most cases..........but in the sense of gaining new investors this week will be near impossible...............BUT as we stay in the news and IF we have a positive turnaround and agreement with China Favoring FEP, then it will give us tenfold the attention and possible new investors we'd normally have.
keep your fingers crossed....... if china tries to convince the world that her lines are correct.then they will also have to fight off vietnam and malaysia as well.....even if the philipnos lay down like a dog...slightly better odds than before.
very nice finds..i also found this today quoting Gates:
update
BY REGINA BENGCO
PRESIDENT Aquino said Wednesday night that the Philippines is planning to file a protest before the United Nations for the series of incursions that China has committed in the South China Sea since February.
Aquino said government is completing its data and will present them first to China before submitting them to the UN.
Aquino’s move came after Manila summoned the Chinese charge d’affaires over recent sightings of a China marine surveillance vessel and other People’s Liberation Army Navy (PLAN) ships and the presence of structures and buoys at the vicinity of Iroquois (Amy Douglas) Bank.
Iroquois Bank, located southwest of Reed Bank, is within the 200 nautical miles Exclusive Economic Zone of the Philippines.
Foreign Affairs Secretary Albert del Rosario has said the construction of the posts and buoys by the Chinese in the vicinity of Iroquois Bank, which is 125 nautical miles from Palawan, "is a clear violation of the 2002 Asean-China Declaration on the Conduct of Parties in the South China Sea."
The Philippines also expressed concerned over reports from China’s state media that China is planning to install its most advanced oil rig in the South China Sea in July.
Aquino said he believes that the buoys were being placed while he and Defense Secretary Voltaire Gazmin were meeting with Chinese Defense Minister Liang Guanglie last May 23.
He also recalled that two Chinese ships drove away survey ships that are conducting oil exploration near Palawan. He said China also cannot claim the Reed Bank because it is undisputed Philippine territory.
He said China’s 9-dash line territorial claim over the entire South China Sea is against international laws, particularly the United National Convention of the Laws of the Sea (UNCLOS).
He said he discussed with Liang the proposed Code of Conduct in the South China Sea, which includes joint exploration and exploitation of disputed islands.
"But China‘s been exploiting here. Why do we have to fight or increase all of these tensions when it profits nobody?" he said.
China, in a note verbale to the UN last April 14, accused the Philippines of "invading" the South China Sea which it claims as wholly its own.
"Since 1970s, the Republic of the Philippines started to invade and occupy some islands and reefs of China’s Nansha Islands and made relevant territorial claims, to which China objects strongly…The Republic of the Philippines’ occupation of some islands and reefs of China’s Nansha islands as well as other related acts constitutes infringement upon China’s territorial sovereignty," it said in the note verbale.
In early April, the Philippines filed a diplomatic protest against China’s 9-dash line territorial claim over the whole of South China Sea, including the Spratlys group.
The protest was lodged nearly two years after China filed its 9-dash line map to the UN Commission on the Limits of the Continental Shelf (CLCS), which other claimants Vietnam and Malaysia have also protested. Indonesia, which is not a claimant, also protested China’s map last year.
Aquino said it will not do the Philippines any good to quarrel with China because it will just heighten the tension in the region. He said talks away from the public eye seem to be more productive and China appears to be "more reasonable" in such a setting.
"If we trade allegations publicly, there will be loss of face, and they have to make a stand. The tension will just increase," he said.
"If they lose face, how will we compromise? Wala nang interest. Wala ring point na magmamatigasan tayo dito," he added.
Aquino said he will visit China in the third quarter of this year to seek a resolution of the conflict. He said other platforms of dialogue are the Asia Pacific Economic Cooperation summit in Hawaii and the Asean summit in Bali, Indonesia.
Defense Secretary Voltaire Gazmin said the department is reviewing the military’s Coast Watch System, part of the military’s modernization program.
"We are on the verge or we are coming with (improved capability) in the area to be able to address the problem at hand. We want to get more assets to be able to provide security in the disputed areas," he said. – With Victor Reyes
i found this today, the Bold paragraph explains intent and strategy of the chinese.
most recent update...around 4 something p.m......china denies despite the aerial pictures......here :http://www.interaksyon.com/article/4725/china-denies-intrusion-in-spratlys
The Extent of Philippine control in the Spratlys (Source: Wikipedia):
A. Philippine-controlled islands (including Filipino names; some include their land area):
1. Flat Island (Patag) - 0.57 hectares
2. Lankiam Cay (Panatag) - 0.44 hectares
3. Loaita Island (Kota) - 6.45 hectares
4. Nanshan Island (Lawak) - 7.93 hectares
5. Northeast Cay (Parola) - 12.7 hectares
6. Thitu Island (Pag-asa) - 37.2 hectares
7. West York Island (Likas) - 18.6 hectares
8. Commodore Reef (Rizal) - a sand "cay" 0.5 meters high, surrounded by two lagoons
9. Irving Reef (Balagtas) - naturally above water only during low tide
10. Second Thomas Reef (Ayungin) - a shallow reef; located close to Chinese-occupied Mischief Reef (Panganiban)
NOTE: All Philippine-controlled islands have troops stationed on them.
B. Islands virtually occupied or controlled by the Philippines:
1. Loaita Cay - located two kilometers southeast of Loaita Island (Kota); a sand cay with fringing reef naturally above water at high tide
2. Loaita Nan/Loaita Southwest Reef - located eight kilometers northwest of Loaita Island (Kota); never above water
3. North Reef (Hilaga) - located two kilometers northeast of Northeast Cay (Parola); naturally above water only at low tide; the Philippines once considered building a long airstrip over this feature to ease transportation to Northeast Cay (Parola) but failed to do so due to the prohibitions in the Code of Conduct
4. Sandy Cay/Extension Reef - located eight kilometers west of Thitu Island (Pag-asa); a low sand cay; fringing reef above water at high tide.
C. Unoccupied but largely controlled by the Philippines:
1. Amy Douglas/Baker Reef (Mahiwagang Diwata) - located north of Palawan Passage; awash at low tide
2. Bombay Shoal (Abad Santos) - several rocks exposed at low tide; surrounds a lagoon
3. Boxall Reef (Rajah Soliman) - above water only at low tide
4. Brown Reef (Kayumanggi)
5. Carnadic Reef
6. Director Shoal (Tamban)
7. First Thomas Reef (Bulig) - few rocks are permanently above sea level; encloses a lagoon; much of the reef is above water at low tide; frequented by Philippine troops from Second Thomas Reef (Ayungin) and Filipino fishermen
8. Ganges Reef (Palma)
9. Glasgow Bank (Aguinaldo) - some sources say this area is occupied by the Philippines due to its proximity to the Commodore Reef (Rizal)
10. Half Moon Shoal (Hasahasa) - several rocks on the eastern side rise one to two feet above high tide; encloses a lagoon
11. Hardy Reef - naturally above water only at low tide; surrounds a narrow strip of sand
12. Hopkins Reef
13. Investigator Northeast Shoal (Dalagang Bukid) - lies a few miles west of Palawan; naturally above water at low tide
14. Iroquois Reef (Del Pilar) - located of Nanshan (Lawak) and Flat (Patag) islands; above water only at low tide
15. Leslie Bank
16. Lord Auckland Shoal (Lapu-Lapu)
17. Lys Shoal (Binago)
18. Northeast Shea
19. Pennsylvania North Reef
20. Pennsylvania South Reef
21. Reed Tablemount, including Nares Bank and Marie Louise Bank (Recto) - about 6,500 km² in area, shallowest natural depth is nine meters ; the Philippines occupied this feature in 1971 and a Philippine-Sweden joint oil-exploration followed afterwards; China protested the act, saying that this tablemount which center lies 100 miles (160 km) from the Philippines is part of China's territories; the Philippines later tried asking China for a joint effort but China declined arguing that the Philippines has no right in this feature. still under Philippine control
22. Royal Captain Shoal (Kanduli) - few rocks are above water at low tide; surrounds a lagoon
23. Sabina Shoal (Escoda) - encloses two lagoons, naturally above water at low tide; lies east of Second Thomas Reef (Ayungin)
24. Sandy Shoal (Mabuhangin)
26. Scarborough Shoal (Panatag) - not part of Spratly Islands chain but under Philippine control
26. Seashore Shoal (Baybayin ) - lies north of Palawan Passage
27. Stag Shoal
28. Southern Bank/Reef (Katimugan) - group of features located south of Reed Tablemount; features include Magat Salamat, Tagpi, Hubo Reef, and Katimugan Banks/Reef; area controlled by the Philippines due to proximity to Flat (Patag) and Nanshan (Lawak) islands; frequented by Filipino fishermen
29. Templar Bank (Dalag)
30. Trident Shoal (Tatlong Tulis)
31. Viper North Shoal (Maya-Maya)
32. Viper Shoal (Tomas Claudio)
this is how the philipinos handle their business....
http://www.oceandots.com/map.php?id=spratly
this is a link to some exellent satellite images of the various reefs and so forth.
good luck to all as this longshot fades into a hail mary
p.s.. when you search the spratlys...the reed bank is listed as the reed tablemount on that site.
the difference between my speculation and yours is that mine has been coming out right most of the time...
You first dismissed the idea that china would try to lay claim on sc72 because the philipines say repeatedly that sc72 is in the reed bank and thats strictly theres.........
and now all of a sudden you are totally fine with china getting a piece of sc72...as if you expected it all along.
I dont want to argue with you, we have been civil for a long time here and thats the way to go.....
But you should admit that you are all hindsight and no forsight.
So when you tell me to chill and act like I dont know what i'm talking about I find it very hippocritical of you......
I was in fact the only one here posting the strong possibility of china doing exactly what i feared...that they'd force a takeover and maybe throw a bone to the philipines while sc72 contract would be null and void since its now occupied by the chinese...........FEP gets thrown under the bus.....why would china have anything to do with fep right now?? as far as they are concerned, they are sitting on their property and going to use their own oil company to drill out their oil and gas........Maybe fep will get a chip off the bone that gets thrown to the philipines as a consolation from PHILIPINES........possibly worth about .01 in share price.
By stating that maybe cnooc will be their junior would be to assume that the chinese would admit that philipines had the right to sell that contract in the first place from something china claims as their own continuously........wow....and you accuse me of not thinking straight?
they just landed.can you see it now? Its sc72,clear and simple.
p.s....... this was trading at below 2 cents even before the threat of the chinese takeover/occupation of the reed bank.....you think these current events wont bring the stock lower?
i tried to copy and paste the maps.....i couldnt........please do some d.d.......... google iroqouis reef .......you will see its exactly on the reed bank's south tip...........and you want to tell me to Chill?
its a takeover following their steadfast claims that they own that region.........so why would they want to talk to the philipines or fep at this stage.
Just because the philipino govt is worthless and full of hot air in defending its waters , you think this quite takeover is no big deal?
what happened to all those repeated quotes you kept copying and pasting about the philipinos insisting that the reed bank is not the spratlys.......does that do us any good? Did that stop the chinese objective?
FEP is at a yearly low and not even showing a bid and ask today...whats up with that?
this iroqois reef is exactly south the reed bank......<go look at the pictures....theyve docked on the southern most tip of the reed bank>
this is an utter and complete takeover of sc72.
these philipino midgets put out statements that they are protecting the area and all these lies........
As the chinese continue full force with the takeover .........what makes you think that fep will get even a "my condolneces letter" from the philipinos.......
this story was out yesterday and these effin guys at fep cant release a news update how their most important holding has been seriously compromised......so much for both canadian and British companies keeping their shareholders informed.
and this is why you have to have a healthy dose of pessimism...........when i repeatedly brought up the what ifs 2 months ago....95% on this board pretty much laughed me off with the location of reed bank being closer to philipines and some absolutely powerless, dare i say useless philipinos insisting the reed bank is theres. And the best this philipino country can do after finding out weeks after the invasion of their sea is this pathetic quote
is that all the phi govt owned of malampaya? 10%? or are they selling 10% of their ownership...which is like 5% of the whole thing.....I was under the conclusion that they had at least 50%.....or in feps case will be 60%...
we are also estimated to have 440 mb not just 40 like malampaya.
I dont know....that 3 billion price tag is on the low end of what i'd estimate malampaya to be worth.....kind of a firesale unless theres taxes for them to receive on the sale.etc.....
at these prices.....china can just buy in one day all of the profitable fields in the south china sea for the cost of us going to war in iraq for one month.
hello eom,
Can i ask you where you get the 28 day countdown for seismic? Last I heard the company gave themselves an entire year to release the results based on only reasons they care to keep to themselves.........the shareholders have been treated as movie goers til this point and are told to just sit back and watch this long boring movie.
also.....what makes you think that the chinese would become a jv partner with Fep..........they have pretty much said, and acted out that the region belongs strictly to them.so why make a deal with FEP?
Conotation is hard to understand over typed messages , so please understand theres no arrogance in my typing......just blunt questioning trying to understand why you are so optimistic at this point in the game and as to how you come up with your conclusions.
Thank you, Have a nice day
i'm 'concerned' too..... from two months ago.
I dont like conflict but its a faster precursor to a resolution.......a resolution that can go either way.....I'm not the international lawyer....or the guy with the nukes pointed at these tiny countries, so my guess like the rest of yours are pointless.
Some think that the beginning of a decision could come on or after june 3rd. They have postponed resolutions for over a decade.....but these military intrusions will force a diplomatic resolution.....i hope.
Only good thing going for us so far is that FEP is a british company and there will be more international consequence if they do to fep what they already did to petro vietnam.
GOOD LUCK TO ALL
hey downside,
have you written a book yet? With the right humor, which you sometimes use, with your analysis on certain topics, i think you'ld end up selling quite a few books.
I just hope we hit oil soon before they anounce that free energy from the sun has been harnessed in a more effective way then solar panels and my investment goes to hell.
well we better hurry up and give america back to china then......
My logic is more simple.... if you own land its because you bought it or spilled blood over it, and won it.therefore deserve it..period.........if someone disagrees with ownership.let them fight for it...and accept the consequences and not just the victors spoils that come along with it.....
Americas consequence is that whats left of the indian population is now quickly becoming rich by addicting us to their casinos outside our law. Still not a bad trade for americans.
The jews..original or imposters, deserve to be in isreal because they fought for it in the 50's......if the arabs fight back then thats a consequence.
if china does something in that region,we , America can boycot china and their 10% growth quickly becomes 25% unemployment........which could lead to chinas version of the nazi party to strengthen their position once again through military expansions. If they stay on their current path they can just buy up the world in 50 years and populate it in 150 years.........but those chinese will want democracy......its funny how life has a full circle and thing balance themselves out in the end.
China has always maintained indisputable sovereignty over the South China Sea territories.
"Anything that is conducive to such goal will be welcomed by the Chinese side," Liu said. "The most important thing for us is that every body should move forward in the spirit of cooperation."
Liu also said China wants to see its proposals on cooperation in the area "seriously considered" by the countries concerned
hello eik....
thanks for your post.....its good to get the pessimistic post once in a while...try to balance this board out from being overly optimistic when dealing with a Giany like China......... you made some very good points........I dont think the reed bank can be seen as an extension of china but I dont know these laws very well.
you had said:
Third, “in 2002, Southeast Asian nations Philippines, Vietnam, Indonesia, Malaysia, Cambodia, Brunei, Laos, Myanmar, Singapore and Thailand and China signed a landmark non-binding code of conduct in the South China Sea to reduce the tension among the claimants by maintaining status quo and temporarily putting ownership issues in the backburner.
i get anxiety sometimes doing the math.
forget the fact that we POSSIBLY have a malampaya sized field worth many billions...besides that
I cant get over the figure I heard again if at all true: Earlier surveys suggest that 96 billion cubic meters of natural gas and [url]440 million barrels of oil are held in the SC72 area.
fep has 70% of that so its 308 million barrels
so if the govt gets 60% and we get 40% of that...we have 123 million barrels strictly for feps gross < 12,300,000,000>..... thats 12 billion folks
if we net just 10 dollars a barrel thats 1.2 billion.........if we net 20 a barrel.2.4 billion.and if we net 30 dollars a barrel its 3.6 billion
so 25% for fecof means we have equity in oil alone somewhere between 300 mil and close to one bil.
thats a hell of an upshot for some company trading at just 20 mil right now...........ohh yeah......now you can add the gas too
glta
There is a growing economy in its backyard, like China and the region, so of course there is interest especially from major players like BHP Billiton Ltd., Exxon Mobil [Corp.] and Shell Philippines Exploration B.V.," said Rufino B. Bomasang, executive chairman of Norasian Energy Ltd., in a telephone interview.
He added the country has "one of the most attractive incentives in contracting."
An energy official concurred. "There could be a few reasons why the Philippines is attractive to investors. One is that we have one of the better fiscal regimes. For example we have a 60-40 sharing of net proceeds -- 40% to investors -- compared to the 85-15 in Indonesia," Energy Undersecretary Jose M. Layug, Jr. said in a separate interview.
Presidential Decree 87 gives exploration investors 40% share of net income and exempts them from all taxes except income tax, as well as from duties and compensating tax on the importation of machinery and equipment.
Mr. Layug also noted that the Philippines offers sufficient potential exploration sites to retain investor interest, describing it as an "underdeveloped territory" in this regard.
if they were manipulating it lower like i thought...then they were and maybe still are underweighted....they saw the open sell orders and snatched them up..
Just a theory.
we will know in hindsight what it all means for sure.
truth is, it a better buy today then last week......At least theyve made strong, clear and reaffirming statements, even after resisting more bullying, that sc72 is NOT to be NEGOTIATED.
if its a market maker who is buying today then thats definitely an extra bonus for us.....gives us a higher floor.
i like the move higher..... but all you can really get from it at this stage is that its extremely hard for someone to put an open order of 10,000. dollars worth without making the stock move north 30% and higher.........Its a good sign..BUT its not a whale investor.Just one of us who feels that its a good buy all the way to .035 cents.......and if its gonna go to 50 cents then its worth getting fully invested even if you buy it moving upwards 50%.
Most likely, If someone wants to sell 10,000 dollars worth on monday for whatever personal or financial reason, we will be back around .025
jmho
very promising, if fecof finally decides to release the research and 3d, and if all is fine, we should get at least one or two to show interest in us too.
FEP
AIM SECURITIESNumber of shares in issuance:
Authorised shares:
% of shares issued:
% of shares not in public hands:
33,364,533
100,000,000
33.36%
90.37%
in other words.........90% of fep in private hands.
this could work two ways..........their share price goes thru the roof when they move forward.....quintupling and more
or possibly a worry of the majority owners buying out the company at a less then favorable amount. Similar worry to fecof itself.
one thing that sucks is for every 100% fep goes up, fecof is only justifiable to move up 25% of that worth.