Lfeaccetfusd Discussion Threads

[earnestwipplethwaiteiii] 21/7/2012 00:11

A couple more articles on the ASEAN/China dispute. First is about the failure of ASEAN to agree a common communique on the South China Sea problem. Second is, in my opinion, the usual face-saving nonsense typical of the organisation:

[jonno1] 20/7/2012 19:34

FECOF now smashed down to 0.014 Cents from 0.045 since April, doesn't bode well for FEP

[earnestwipplethwaiteiii] 20/7/2012 14:54

That at least should support a certain share price level, though where that will be is anyone's guess. However, Sampaguita and associated news will overshadow everything for some time to come.

[fireplace22] 20/7/2012 14:40

This posted by hainholz in the other place:

Home > Business > Headlines > Galoc output breaks 9M barrel mark
Galoc output breaks 9M barrel mark
By: Amy R. Remo
Philippine Daily Inquirer
3:09 am | Friday, July 20th, 2012
New 0

Production at the Galoc oil field off Palawan has exceeded nine million barrels as of the end of June, depleting more than 62 percent of the 14.44 million barrels in its projected reserves since it began production in October 2008.

In a quarterly report, Australian firm Otto Energy Ltd. said its wholly owned subsidiary, Galoc Production Co. WLL (GPC), was able to produce only 534,405 barrels of oil in the first half the year, following months of shutdown.

GPC shut down its operations at the Palawan oil field late last year for the upgrading of the Floating Production Storage and Offloading vessel (FPSO). Production resumed in April.

In the second quarter, the joint venture operating the Galoc oil field was able to sell two cargoes, according to Otto Energy.

Cargo 26, containing 325,546 barrels of oil, was sold and delivered on May 31 to a South Korean refinery at $113 per barrel. Cargo 27, which was sold during the quarter, will be delivered in August this year to a buyer in South Korea.

Otto Energy further disclosed that a two-well development is being planned for 2013, as part of the Galoc joint venture's proposed Phase II program for the field.

The Galoc joint venture, the report stated, had already pre-invested in the required infrastructure, including wellheads, flowlines and umbilical lines to ensure drilling in 2013. The final investment decision is expected to be announced within the third quarter this year.

Under the initial Galoc Phase II development options, GPC is targeting to increase reserves by 5 million barrels of oil by drilling new wells, which are estimated to yield about 4,000 barrels of oil per day. These wells may be drilled in the northern portion of the Galoc structure to boost production and access undeveloped reserves.

[earnestwipplethwaiteiii] 20/7/2012 09:34

timber - well good luck - as I say, in the forty-five years of its existence, ASEAN has never proved itself capable of effective, co-ordinated policy or action on anything, preferring to sweep differences under the carpet for the sake of the appearance of "unity". Their inaction and the hypocrisy of some members on Burma is a case in point.

[timberwolf3] 20/7/2012 08:49

earnest - The majority of the Asean countries know China likes to isolate countries in the region and then start it's intimidation/bullying tactics to secure a better deal for itself. I believe we will now see majority of Asean countries act in harmony to stand up to China, supported by USA, INDIA an AUSTRALIA.
China's mistake in my opininion is to have ongoing disputes with 3 Asean countries at the same time, now is the time for ASEAN to grow some balls and stand up to the bully.

[timberwolf3] 19/7/2012 17:29

Interesting article by USA research chappie :

[marauder7] 19/7/2012 12:44

LCAP 109-129
SHOC 108-128
FOXD 103-123
WNTS 097-112
PLHC 095-115

So, touch 109-112 (2.7% spread)

Volume... wait for it...

Zero. Where I bet it remains for the rest of the day.

[sirshagalot] 19/7/2012 08:55

picks nose and eats it

[duxy786_2] 18/7/2012 23:50

Boring, Dr K n M7.Threads will be threads, a bit of banter n some factual disscusions thrown in for good measure! No one believes what they read on BB's anyway ...

[marauder7] 18/7/2012 14:01

Since there's nothing better to discuss:
5 trades today
Reported as 1 buy and 4 sells
In reality, 3 buys and 2 sells
Exciting

[dr knowledge] 18/7/2012 13:58

(repeat)

>Dr knowledge 18 Jul'12 - 12:18 - 5364 of 5365 edit
>.........and they simply hate to be exposed. :-(

[dr knowledge] 18/7/2012 11:18

.........and they simply hate to be exposed. :-(

[marauder7] 17/7/2012 16:59

Acta_topup 17 Jul'12 - 17:54 - 5357
> yes you are almost certainly correct

Thank you.

[acta_topup] 17/7/2012 16:54

yes you are almost certainly correct

[marauder7] 17/7/2012 16:52

Acta_topup 17 Jul'12 - 17:45 - 5355
> wow nice flow-chart, but what was in it for the Directors? Surely £2 is not
> fair value

I agree.

So, do you really think that this was all there was to the deal?

I'm sure the share price was exactly as reported and as required by UK law and regulations to be reported, and every i was dotted and t crossed.

But other things can be there too...

Plenty of other companies which will benefit from added directorial expertise, for just one example. ;-)

I don't know and am ONLY SPECULATING because you and I both think - why sell big lots @£2 when to try and buy back those huge nominals would send the share price stratospheric (I mean, just think what buying 1M FEP shares would do to FEP's SP! It would be the "VW shorting" scenario, almost!)?

[acta_topup] 17/7/2012 16:45

wow nice flow-chart, but what was in it for the Directors? Surely £2 is not fair value, unless they are trading the stock