Lfeaccetfusd Discussion Threads

[marauder7] 24/7/2012 14:45

TTNY2004 24 Jul'12 - 13:13 - 5401
> Could they be trying to hoover up more shares on the cheap?

Yes, and doing it quite competently. The true free float is, IMO, considerably lower than the charts indicate.

[ttny2004] 24/7/2012 12:13

Thanks for all the replies. Understand a bit better now.
However, still intrigues me if that is the case that the share price has fallen so far from the £2 purchases. If they want shares they can mop more up at lower levels now even though there may not be many available in the market in any reasonable sizes. Could they be trying to hoover up more shares on the cheap?

[sirshagalot] 24/7/2012 11:57

rbonnier

your forgetting the rest of the world international law.

if china does not stop this foolish claim then sactions will start from western countries,in other words we just will stop buying Chinese goods simples!.
plenty of other countries like vietnam,thailand etc will take the manufacturing mantle.

ever play a game called risk?
rbonnier?

i beat the computer on the hardest settings several times.
you do one thing to one country and others may not like it

[timberwolf3] 24/7/2012 11:55

. In addition, the Directors are considering future funding options to meet the funding requirements of the drilling programme at SC72.

[sirshagalot] 24/7/2012 11:54

rbonnier

your forgetting the rest of the world international law.

if china does not stop this foolish claim then sactions will start from western countries,in other words we just will stop buying Chinese goods simples!.

[earnestwipplethwaiteiii] 24/7/2012 11:41

Interims RNS for six months to 30th June just out - shows a loss compared to H1 2011, due to shutdown of Galoc while FPSO vessel was upgraded. Nothing untoward.

[rbonnier] 23/7/2012 17:28

Its all about politics and China isnt going to ever give up its claim over the whole of the South China Sea .Sorry guys but I think the minority shareholders here are going to end up with nothing apart from wallets full of cob webs .With the Chinese garrison all set up in this new city I bet Forum gets no where with its drilling programme for years as I said no wonder the directors all bailed out and no doubt Mr Smuggins is as snug as a bug in a rug in his office laughing all the way to the bank at the expense of yours truly !

[marauder7] 23/7/2012 17:06

TTNY2004 23 Jul'12 - 17:20 - 5393
> Regarding BOD selling all their shares at £2+ was there any reason for this?

1) The sale was to a party very connected to FEP already (an Asia Pacific vehicle). There probably, IMO, was more to the deal that didn't require disclosure.

2) Had that party wanted to buy a lot of FEP shares "here", the AVSP would have been far above £2.

[timberwolf3] 23/7/2012 16:40

The directors masters wanted the shares, namely Atok big wedge and First Pacific, the directors i believe didn't have much of an option but to sell, that is if they wanted to keep their positions on the various boards that control FEP.

IF £2 friggin quid is what first pacific are prepared to pay, then the current share price is a bargain.

[ttny2004] 23/7/2012 16:20

At this rate unless something changes looks like 50p is on its way.
Regarding BOD selling all their shares at £2+ was there any reason for this? Reason I asked is if the license is really being progressed does not show much faith from them unless an insti wanted in and that was the reason in the hope that they would get more options in the future.

[glasswala] 23/7/2012 15:06

Well i will keep the faith!!!Hallelujah !!!!
At this rate - these small trades keep reducing the share price by 10%+ a day the share will be worthless in less then ten days!!! and the amount of share that will have been traded will not even be a couple of hundred thousand shares!!!

[earnestwipplethwaiteiii] 23/7/2012 15:03

This looks like a buy at below 100p but with markets as they are, and uncertainty as it is, it's entirely possible it will move even lower on minuscule volume. And any buyer will have to ride a rough patch for who knows how long before a) AIM recovers its nerve, and b) the SCS issue becomes clearer.

[glasswala] 23/7/2012 12:03

looks like some people have had enough and leaving the party. Party poopers!!!
With all the goings on re:Spain-the general market is not looking good also!!
The directors can buy all the free float shares from their share sale just a month ago!!! This is a disgrace!!
I bought into this last week but on hindsight i should have waited and could have got more for my money!!

[rbonnier] 22/7/2012 20:47

Well somethings clearly wrong Directors bailed FECOF Crashed and burned and the Garrison in a new chinese city doesnt seem to be the ideal investment !

[marauder7] 22/7/2012 19:40

Except, RBonnier, that the ultimate controller of Forum Energy plc is a Chinese corporation. While the Salim family from Indonesia are associated with it, First Pacific group is registered in Hong Kong and the majority of its shareholders are Chinese. :)



This is not, IMO, the Chinese way:

[rbonnier] 22/7/2012 19:06

Im afraid the share price is in trouble lets take a look .
The Directors all bailed out at £2 selling the lot great vote of confidence that was anyone with an ounce of sense would have followed their lead .
FECOF which owns over 25% of FEP has collapsed and crashed which doesnt look good at all for FEP seems there may be trouble brewing for the company to me ,what could that be .

China will set up a military garrison in a newly established city in on island in the West Philippine Sea that has been occupied by the Philippines for 34 years.

Thats what I call Trouble !

[cfccfc1970] 22/7/2012 17:13

MVP group firm on gas drilling plan

Group sets $75M exploration program off Palawan
By: Doris C. Dumlao
Philippine Daily Inquirer

The group of businessman Manuel V. Pangilinan is committed to the drilling work program at the Recto Bank prospect under a gas exploration concession agreement with the Philippines, which is embroiled in a territorial dispute with China in the West Philippine Sea.

Philex Petroleum is a majority investor in UK-registered Forum Energy Plc., which has a 70-percent interest in service contract 72 (SC72). Included in this contract area is the Sampaguita gas discovery in offshore Palawan.

Forum Energy has set a $75-million drilling program for SC72, which is believed to have resources much bigger than the Malampaya gas field.

Pangilinan, who chairs Philex Petroleum, said there was "no definite date yet" to start the drilling program but noted that the group was unlikely to start by September. This month is historically the window for exploration firms to conduct drilling programs in the Philippines given its weather patterns.

However, he said the group was committed to have at least two appraisal wells by August next year as committed under the concession.

Eventually, Pangilinan said the group would have to bring in foreign partners into the concession. "It depends on the results of all the seismic and drilling work and the extent to which financial resources are required. So if it's significant, yes [we will bring in foreign partners because] definitely we don't have the expertise in terms of commercial operations," he said.

Pangilinan's group has entered discussions with China's state-owned China National Offshore Oil Corp. (CNOOC) on a potential partnership subject to a framework acceptable to both the Philippine and Chinese governments.

As First Pacific Co. Ltd., the controlling stockholder in PXP's parent firm Philex Mining, has been based in Hong Kong for quite some time, the group has indicated that it was comfortable working with the Chinese. However, Pangilinan had said that the group would walk away if any partnership would infringe on Philippine sovereignty.

[deadcert] 22/7/2012 17:01

timberwolf3 Excellent!

[marauder7] 22/7/2012 12:32

timberwolf3:

LOL! Well put! ;D

[jonno1] 22/7/2012 08:10

China to deploy military garrison in new city in Spratlys

China will set up a military garrison in a newly established city in on island in the West Philippine Sea that has been occupied by the Philippines for 34 years.

China said Sansha City is to administer over 200 islets, sandbanks and reefs in Xisha (islets and islands up north), Zhongsha (Paracel near Vietnam) and Nansha Islands (Spratlys).

But Kalayaan (Palawan) town on Wednesday asserted its authority over the area.

Kalayaan mayor Eugenio Bito-onon Jr. said Filipinos settled in the islands since 1978, whereas China is forming the government of its Sansha City there only now...


back to 40p?