FEC Resources Inc. (FECOF)

[styl]

nido petroleum has 22.8% working interest in galoc....

and fep.l has 2.27................its as close to 10% of whatever nido "nidof" petroleum has in galoc , as you can get..

very easy math for us if we look at it from that point of view and nido does all the homework for us. 10% of nidos estimates for us.

My conclusion like yours <hdymaniac> is hopeful that fep.l gets more than nidos estimates and thats why my numbers are more than 10% of nido's numbers.


Nido is correct to underestimate because the price of oil could very well drop to 60 dollars a barrel.....or go to 120 for that matter.....so its good for them to put out conservative numbers when stating "reasonable" figures.

we all know that we are not in this investment for the galoc field...........and I should add that fecofs burn rate thru their current cash was 325K the last 12 months..........
these numbers wont help fecofs cash holding or cash flow but only their equity as fep.l's financial statements improve.
the good news is that even though fecof might be a going concern on paper, they will still be able to borrow based on equity holdings or sell fep.l's shares if they get in a bind with this damn extended waiting period.

Not to kid ourselves......this is still an all or nothing investment but galoc definitely will keep the bills paid for fep.l and indirectly improve fecof for the time being.....a few years at least until some possible deal gets done.

besides sc72..... whats fep.l's plan b? whats their secondary strategy? is it just galoc or is there something else brewing to add to their bottom line? what about fecof themselves?
I wish there was more opportunity to hold us over before this long wait of an uncertain outcome with sc72.............but i guess it is what it is.......and why we trade so low here(for now).