FEC Resources Inc. (FECOF)

[irishintelligence]

The numbers on this continue to improve.

At 4 TCF in-place, and gas at $5 per 1,000 CF, 20 year profit for FECOF's share of Forum = $18 million per year

At 14 TCF in-place, and gas at $5 per 1,000 CF, 20 year profit for FECOF's share of Forum = $60 million per year

Importantly: these numbers are discounted as follows
----70% ownership in Forum (not 100%)
----60% share of revenue (40% to CNOOC)
----60% margin (40% expenses)


--https://www.eia.gov/dnav/ng/hist/n3035us3M.htm


--https://businessmirror.com.ph/2021/11/30/solon-pushes-completion-of-offshore-gas-development-drilling-project-in-recto-bank/


--Chairman of the House Committee on Strategic Intelligence: Rep. Johnny Pimentel

--According to Pimentel, Sampaguita is “an untapped value-changing asset” with up to 4.6 trillion cubic feet of gas, while Malampaya, which has been producing gas for the last 20 years, has only 1.6 trillion cubic feet of residual gas at best.

--“There is even one study suggesting that the entire Recto Bank has up to 20 trillion cubic feet of potential gas in place,” Pimentel said.

--Sampaguita is projected to contain 2.6 trillion cubic feet of in-place gas and 5.5 trillion cubic feet of in-place prospective gas, according to an independent assessment by Weatherford Petroleum Consultants.

--Another study estimates Sampaguita’s potential resources at 3.4 trillion cubic feet of gas and 440 million barrels of oil.