That's a great comparison. I had to read it twice to grasp the relevance. Since they went off/ away from
The equity valuation method ( for their own benefit). ,,,, they tried to manipulate the excuse of an open market valuation using their own parent companies to manipulate the price to effectively cheat us from our shares that didnt even need to be sold in the first place.
It's important to note , that the last huge dilution they did, which they've also done before that too, was in the manner of subscribing twice as many shares outstanding , in which the owners ofshares, including fecof had to come up with their share of the debt or be diluted. I think it was 39 m shares before and it doubled to around 78 or 79 mil shares. That .30 cents a share can be argued that it was more generous then the .50 cents years earlier when they also got cheated, again. Double the shares is like 60 cents before the 2 for 1 split.
BuT considering that this was back in play from 2016-2017 with pxp and duterte restarting diologue to get this done, and eliminating the threat or obstacle that china once was/is/could be again, it's arguable that FEL shares were worth just as much as a company as they ever were depending on how the well gets divided. If it's just giving a more generous contract to the major drilling / CNOOC and not 50% ontop of 50%....then we were obviously embezzled in a fraudulent way. If we convince the sec, and we got some shares back from the fraud it could only hurt pxp minimally. 5 to 10% in share price short term and help fecof enormously.
There's no way that 100% of forum energy was worth as little as 30 million.... 1% of fecof at 300k is what that trade suggests. Especially not when contract talks were renewed and with pxp rising from its lows of 1.5 pesos to around 10 pesos. At around 15 they are more than a 500 million dollar company.
Maybe we should all write to the sec. especially those of us holding shares for that long to help support Irish secret intelligence'S letter and embolden the claim of embezzlement which demands the return of a certain amount of shares and/Or monetary penalties to them awarded to us. They can afford it. The are funded buy first pacific, pangilinans first career job, which he's often labeled a Chinese agent considering where he comes from.
Does anyone want to plan on writing the sec and pxp simultaneously to get the message of unity across? Any suggestions for a more effective course of action?
