Mwm. It's my understanding, that even though the pse was red hot last year, I think the best performing index in Asia if I remember correctly, There is not a totally free market in these shares as ownership in some companies is restricted by a predetermined split between philipino owners and foreign owners when it comes to companies dealing in their natural resources. Even in stock ownership. How the hell they figure it out on a daily basis is a mystery to me. I'm sure there are ways around it and their system doesn't always work. Last time I checked Filipinos weren't that cash rich or stock Davy in that country. They probably look at a chart and see pxp up from 2 pennies and think it's way overpriced. Anyway, regardless of the reason it's a buying opportunity, but still speculative as that 20% chance the contract doesn't get done then pxp will go to a single peso. Dido for fecof. Once the framework is announced it's a different ballgame. When we drill then it's the World Series. What we find is the difference between champions and runners up. Pangilinans initials are MVP.
My E*TRADE account had me wait two days before the international trading desk finally called me to place the trade for pxp since pxpef wasn't trading any volume , but they gave me a ridiculous spread and placing the trade while the us market was open and the ph market was closed, so I did t make the trade yet and I put it off.
The pse is not a very liquid market but when this deal is anounced the real investors will find a way to get in. Where there is a will there is a way. Also Shell will make a play on purchasing all of forum if not the entire sc72. They can do this thru their subsidiary shell philipines which is considered a philipine company. Just my theory. I'm a blue collar guy with no degree in finance so I do t give any financial advice. I just share my opinion and at the end of the day.... what the hell do I know? Just a somewhat educated guess . Good luck to all
