Hey Matt. I don't follow this thread as often as I use to. Did Wallace. CEO of fecof actually attempt to sell out remainder shares of forum. Or our entire company for 5 million??? Or are you just making an assumption/analogy of sorts??
I would like to add that considering how we could easily be screwed by this pxp crony mr Wallace, we must no longer fantasize about a 1 dollar a share prize in 3 years and just take our profit of 10 cents a share as you're suggesting. Certainty is best especially when these clowns have shown that they are thieves and will immediately do what's best for pxp (their majority shareholder) in total disregard for the rest of us. So I support your your strategy of 10 cents. The sure thing over the crushed pipe dream in this den of thieves is the best way to go.
I would also sugggest we seriously threaten pressing criminal charges against Wallace for what he's done and is willing to do to us again as there has always been intend to harm and embezzle the shareholders of fecof by means of doing what's best for pxp and not for fecof shareholders s an ongoing company. I'm sure good lawyers can prove this and we might be able to get an award from pxp and even their parent company first pacific. For embezzling shares way less then the market value.
Lastly but just as important. If you have any connections in the banking world via your company, maybe we can consider a strategy of offering more money for the forum shares as a private entity spinoff of the minority shareholders group.
What I'm suggesting is that since our minority shareholder group owns roughly 20% of the outstanding shares of fecof, and fecof is market valued at 5 million from time to time, we could offer to buy the forum shares ourselves for let's say 6 million and own them privately. Just like nido petroleum was taken private in similar fashion. We would use the cash received to us as fecof shareholders in the private takeover and any bank loan willing to fund this deal as any smart bank would realize the undervalued asset this is in comparison to pxp , especially after they explore this again and a contract to explore soonafter.
With the right strategy we can turn this big negative of management theft, into a minority shareholder takeover with bank financing that could become a huge windfall for us if done correctly.
Please reply with any comments or suggestions on such a possibility. Nothing is impossible. I leave commments open to any and all shareholders on this board to reply on such suggestions of an organized /bank financed takeover of the remainder 6.8 % of forum for ourselves. We can then sell it to anyone including Shell or cnooc for 30x it's worth in 3 years
