FEC Resources Inc. (FECOF)

[styl]

http://newsinfo.inquirer.net/131653/govt-gets-1-1-b-share-from-malampaya-project

in the link above it gives you an idea of whats the breakdown and royalty situation that helps us get a more fair comparative to the reed banks potential profits after costs...etc.


granted sc72 is said to hold 400mbarrels of oil but thats another project to get at those reserves....still they should be there and give us equity.....

the highlight on the link above is that the phil govt. is getting a 60/40 split with the consortium of the remaining 30% left after the contractor/shell.

if i understood right pnoc is a phil owned company that also owns 10% of the project so it gets confusing if they include those as royalties as well or seperate....

please have a look and let me know......for now i equate it as if those numbers ...165 billion received in royalties comes from something like a 14 or 15% stake in malampaya.


Side note: over a year ago I remember reading a quote by the fep.l president that he was willing to give away a huge stake in the project to a contractor to get this done,,,,,my gut feeling tells me that fep.l would end up with something roughly to 15 or 20% of this venture.....maybe the first exploration well can up them to more like a 30% stake....i really dont know for sure.

the math is there we just have to dig thru it better.


is it worth buying upto 2 cents with sc14/galoc flowing again? I definitely think its worth a Gamble