FEC Resources Inc. (FECOF)

[styl]

This is an opinionated answer only. It's reasonable to be alarmist and a very fair question.

Considering early talk from 5 years ago china didn't recognize this as ph territory and therefore why should they honor any contract whatsoever. On the other hand. They did send cnooc to explore a potential contract with fep.l. Now pxp for a contract consideration....... this could have been open field espionage as we shared with them our locations. I go etc. the deal wasn't made. Moratorium....during same time china was drilling in Vietnam illegally and ignoring other contracts and stealing oil .

Present day: the talks china is having is supposedly with pxp as well as the ph. They keep referring to making a deal with sc72 and sc57. Even if China refuses to recognize us, the ph still needs to recognize us or their business relations and future sc auctions would fail. Worse case scenario so far is that they make a crappy deal with China and get half of those reserves and we get half of the remaining. Or less from their ph 60/40 split. Things can change and if we are not on the bargaining table with everyone then it could be a sign that duerte throws us under the bus. So far manny keeps talking like he's the one pushing it to get done and that he's at the table. The devil is in the details. This is a world class find and depending on the contract details we can speculate more clearly what fecofs share is worth. I think it would be very foolish if we are cut out completely. Unlikely but not impossible in the mind of a dictator type like Duerte. The courts would honor our contract in the ph as duerte doesn't have that full power yet. Even his Supreme Court gives him a hard time often.
We need a multinational contract and then we are golden. At this point I don't hear talk of that yet. If he's smart he would bring in shell from malampaya as a third party as the infrastructure is already there and would give it a safer protection then just the ph vs Goliath who already demanded its all theirs before. Shell oil would be protected under American laws and china wouldn't try to pull that crap with its largest trading partner and nuclear power.