I do not have a major list of fecof. That top 100 stockholders list is a feature found on pse.com or pse.ph which is the philipine stock exchange on their pse edge platform. It's mandatory for Filipino stocks on that exchange to list it. In the us/ American stock exchanges we have similar features for big board stocks but not for pink sheets or bulletin board stocks like fecof which is a Canadian company. And yet if you dig around you can find some not so up to date records of who owns what. And obviously the majority of the stocks held for fecof are held by pxp energy which was once owned by philex corporation. Now pxp holds the majority/ voting rights of about 55% of fecof I figure if not more, which allows them to vote every year or so on having fec corp pay for its administration fees by selling specifically its shares of forum directly to pxp energy. This has over the course of years since 2007, dwindled fecofs 25% ownership of forum energy(who holds 70% of the contract to sc72) dwindle all the way down to 6.7% of forum. Fecofs 6.8% of 70% of sc72 is equivalent to 4.78 of the entire sc72 contract. So just under 5%. My biggest fear is that even after the contract is signed and even likelier before if the deal is delayed again, that this will happen again , which in turn makes fecof even less attractive as it gets way more risk for way less return each passing year. At this point though even at 6.8% of s 72 , fecof "seems" more attractive than the rest when you divide its small market cap to its potential share of the profits. I say it "seems"!because the truth is as it has already happened in the past, that the parent company pxp can take a piece of their shares every December and that equates to about another 30% of forum shares in fecofs account stolen from this point on. It's a good argument to say that this is very unlikely IF this contract is to be signed as it looks more obvious that this is an inside job of theft when the contract is actually signed and worth something. This time around, once again IF the contract is signed in the next 3 months. Also this company can be bought out at a bit of a premium to the equivalent share price of pxp's per share price even after the contract is signed with the quick approval of pxp the parent company. This is simply why you won't find more than one or two small institutions if any at all that own fecof. If China didn't get involved 6 years ago this would have been possibly a bitcoin type return for fecofs stock holders but now they'll have to hope to see just 25% of those returns they would have. The offshoot is that there's enough time to accumulate more shares at a penny level if you dare and want to double down then what would have existed at a 25% holding of forums shares. As you can see, even on a 2 million volume day we are seeing 20 thousand dollars traded. No institutions. If the deal is signed and we don't get shafted or screwed again then things could change here. I don't expect this being a holding company to have a P/E ratio of any significance, but pxp being an actual explorer company may have a decent pe which arguably puts it in a safer and bust as attractive company for returns. Well that's my two cents. Trading at a discounted penny right now.
People have asked me why dont I just sell my shares and trade them for pxp ??? And the reason is simple, if I started unloading these fecof shares now. 4 million shares, I would single handedly bring the price to .002 and get nothing of a return back. So I am married to fecof for better or for worse. It might or might not be a happy ending for me, as only time will tell. If I could get in now I'd take a less risky pxp instead of fecof at this point in time. Good luck to all.
I remain hopeful that this d all gets done but not without big biumps in the road and you must be willing to hold for 10 years to see the profits represented fairly in its share price but it would be worth it if we still maintain our 6.8% share of forun(fep). I hope this helps. The s stock has become my obsession and frustration as I got delayed 6 years and saw my 25% holding drop to 6.8% by getting screwed by both pxp and China together. And they are still the ones in charge so pardon me if I'm a bit bitter and untrusting when others would be jumping for glory near a signing. I will keep my fingers crossed as I have already missed one of the biggest bull runs in stock market history. This going to a dollar in 5 years would be sweet retribution. Let's hope for 9tcf as well for good returns. Good night.
