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Wednesday, March 21, 2018 1:50:04 PM
Hello team, I rarely post about another company, however in this case I want to share because I think it will be big and the individuals on this board are GREAT!
FEC Resources (OTC: FECOF)
FECOF owns 6.8% of a service contract which has the rights to drill for oil and gas at Reed Bank (Philippines). The project has been delayed for a very long time because of a disagreement with China.
It appears that we are moving in the right direction:
https://in.reuters.com/article/china-philippines/china-says-to-have-prudent-oil-exploration-with-philippines-idINKBN1GX20T
It was widely reported years ago that this area has up to 20 Trillion cubic feet of Natural Gas for drilling. 3.4 Trillion is confirmed. The model below assumes they recover 4.8 Trillion (a conservative view, as always). Assuming that happens FECOF should trade much, much higher than where it is today.
All the best. II
FEC Resources (OTC: FECOF)
FECOF owns 6.8% of a service contract which has the rights to drill for oil and gas at Reed Bank (Philippines). The project has been delayed for a very long time because of a disagreement with China.
It appears that we are moving in the right direction:
https://in.reuters.com/article/china-philippines/china-says-to-have-prudent-oil-exploration-with-philippines-idINKBN1GX20T
It was widely reported years ago that this area has up to 20 Trillion cubic feet of Natural Gas for drilling. 3.4 Trillion is confirmed. The model below assumes they recover 4.8 Trillion (a conservative view, as always). Assuming that happens FECOF should trade much, much higher than where it is today.
All the best. II
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