Lfeaccetfusd Discussion Threads

[marauder7] 27/10/2012 03:48

sideshowbull 26 Oct'12 - 15:53 - 5544
> 3m free float

Doubt it.

Off-market transactions aplenty.

I wouldn't be surprised if the float's been whittled down to far below the official declared figures.

Besides the obvious good effect of that for us stubborn holders, there's a more subtle one. If "we" have merely (say) 1 million shares between us, we aren't really worth screwing-over (legally or otherwise).

[sportbilly1976] 26/10/2012 15:33

highest volume since the spike in April, and the largest %-age rise since then too.

That'll do me for a Friday, hope it continues next week

[earnestwipplethwaiteiii] 26/10/2012 15:23

Just vastly oversold, nothing to get excited about in my opinion.

edit - just saw the volume - could be something on here, but equally could just be returning to fair value.

[unionhall] 26/10/2012 15:18

Seriously weird day's trading out of nowhere......

I cannot find any specific news reference to explain it and there was no comment on the Philippines Bulletin boards that I monitor last night.

Better up than down.....

[sportbilly1976] 26/10/2012 15:12

Well if First Pacific & Atok want more shares, they don't have the luxury of director options being available this time...

[sportbilly1976] 26/10/2012 15:08

still some way to go, but the volume is worth noting....

Uploaded with

[ducatiman] 26/10/2012 15:07

Looks like a large buy order, no retreat after sells.

[earnestwipplethwaiteiii] 26/10/2012 14:56

SSB - ah! the -ahem- bull in the China shop! A knotty one.

[sideshowbull] 26/10/2012 14:53

The only thing holding us back is the China crisis, if that was resolved with the CNOOC farm in, we would be many multiples of share price Still rem the last rise - stabbed rat! Still have 6TFC in play! 3m free float.
AIMo

[dr knowledge] 26/10/2012 14:53

Yes but it was what's behind the market that makes today's action of interest - we haven't had a damn market here for weeks, with days of zero trades, still reckon it's a tip from somewhere (anyone read today's IC?), however who cares, watching level 2 grow stronger all day sure makes up for the weather. ;-)

[earnestwipplethwaiteiii] 26/10/2012 14:49

I'm with marauder7 on this - what we're seeing today is nothing more than MMs doing what their charter says they must do - make a market. The larger issues remain, but at the same time Galoc, as someone posted earlier, should support a certain level of share price

[sportbilly1976] 26/10/2012 14:44

see all the T traders (showing as C trades) exiting with their penny profit

[tez123] 26/10/2012 14:17

looks like they are fishing for stock on such a small free float.

[sportbilly1976] 26/10/2012 13:58

PXP have 1.7bln shares in issue, so @ Php25/share this would equate to a mkt cap of Php41.6bln ~ £610-615mln.

It then depends on what you value their other assets at (I know previous valuations have put this at £50-100mln) that would value their portion of SC72 at ~£500mln.

PXP have an economic interest in FEP of 51%.

It gives an approx value for FEP shares at ~£27

:)

[sportbilly1976] 26/10/2012 13:43

here is the benefit to a small free float when some buying occurs.

I'm guessing though that there has been a tip somewhere to spark the initial interest...still >50% down though on my last purchase, so some way to go yet!

[earnestwipplethwaiteiii] 26/10/2012 11:54

duke - there's very little incentive for Muggins to buy shares in FEP: picture this - you have risen from company secretary on a still modest salary to a position of some importance that attracts a very decent salary and a regular slice of the pie in milestone options which can be readily disposed of at incrementally higher prices to the exercise price. Why take the risk of buying actual shares in the company?

[marauder7] 26/10/2012 11:30

More likely, just the market makers seeing whether new buyers will come in at this sign of life, or if fed-up holders will sell out at the first opportunity.

In short... it is just 40,000 traded so far today - more than the usual 0 to 4,000 - but still, "yawn". :)

When the expected upswing occurs, IMO it'll be far too fast for ordinary traders to take advantage of.

I still remain optimistic of a valuation north of 500p a share.

Caveats: YMMV, DYOR, AIMHO, TINFA, FEPO etc.

[dr knowledge] 26/10/2012 10:51

Judging by that little morning flutter, looks like we may have been tipped somewhere. Least it woke some of us up! ;-)

[nick2412] 26/10/2012 09:04

Sentiment will come and go on the prospects of a peaceful resolution but China will take note of two recent events.

Firstly, the Philippines has officially named what they regard as their territory 'The West Philippine Sea'.



Secondly, the U.S. will ensure there is no conflict - not necessarily because of the supposed binding treaty to come to the aid of the Philippines if it is attacked, but because of the importance of the shipping lane.




For now, Galoc revenues alone supports the market cap at current levels. Quickest way for FEP investors to get a return is for UK sharheolders to be offered the same deal as the directors and be taken out for 200p a share. Either that or a dual listing on the PSE so UK sharheolders get parity with Philex Petroleum's rating.

[simonparker5] 26/10/2012 09:02

Some of that buying was me. Been watching on the sidelines for a while and thought these have dropped enough to make them quite attractive. With diretors selling at £2 this price is a bit silly.

[sportbilly1976] 26/10/2012 09:00

someone hit the buy button by mistake?? :)

finally it seems we might have some life in us....