This is huge get in before the heard arrives to work this morning, the new VOG

Galoc well 4
Info can be obtained via the http://asx.com.au
Under the epic of NDO
FEP hold 2.27% so if 23,000bopd is managed it would be 522bopd which for
such a small Company is quite something.
cyril

The header says it all, by the way what is 2% of 23000bod worth?

halifax this is not the gas play, but an oil field which FEP have a small stake
along with NDO.
cyril

I am aware of that but 2.28% 0f a ramped 23000 bopd doesnt amount to a 44% rise in the sp!

Halifax,youre last post,took the words out of my mouth,how can 2% of something equate to a 44% rise,having said that ,FEP has been trading at an all time low,could just be on its way up which for some still needs to climb another 50%.

Yes once bitten twice shy!

The SP had drifted quite badly due to their being a territory dispute,over the gas asset.The latest rise is imo entirely down to the great news from Galoc4 oil well which if you calculate what 500bopd is worth against the M/Cap then the ris can be justified?
Still more news from NDO this am, well surpasses their expectations, need to
go to the ASX for their company announcements.
cyril

http://www.pse.com.ph/html/NewsRoom/memos/2008/MEMO_2008-0127.pdf
cyril

Latest update,
http://www.pse.com.ph/html/NewsRoom/memos/2008/MEMO_2008-0130.pdf
cyril

http://www.mb.com.ph/BSNS20080229118169.html
cyril

Hope that some of you took note of my earlier post, as its up almost 20%.
400bopd minimum and $3,500,000 due on completion of the coal asset,makes this
a very attractive company.
Topped up but kicking myself at not taking a lot more, funds being the real problem as it seemed to be a no brainer?
cyril

well done, but a rise of 5.50p when there is a seeming spread of 3.0p rather takes the gilt off the gingerbread

Seltrade are at 33p bid 50,000
31p offer 1,500
Yes it does as you point out take away some of the gilt, although 10%+ is not to be sneezed at in a couple of hours.
But it does help to steady the boat and with a much bigger prospect to come and FEP have not announced this news officially.
From the Daily Express, news of Service Contract imminent? Not sure what they
mean by iminent, but i just wonder if their energy's in this direction for now?
cyril

Joined the club today 33p, not the best price by the look of it, but this does have a lot going for it and the sp to assets is a joke at the moment !

Looks like I misstimed my entry into this one...(somethings never change)..patience will be the key once again...

This along with several other aim stock have been hit out of proportion to their
assets imo,with a sale of their coal assets and soon to be announced oil
production(which could be as much as 500bopd to FEP). A chance to top up,but
risky in the light of todays market conditions?
cyril

http://asx.com.au
Type in NDO and company announcements for confirmation of Galoc production,
late April. At todays SP i think 25/50% gain is likely once the oil starts flowing,
around 4 weeks? aimo
cyril

FEP will be releasing a RNS shortly to announce production from Galoc,as to
date they have not released any news regarding it and we have had to aquire info
from NDO of the ASX(see previous post).
NDO have a released a 27 page document on the 14th and is worth checking out'
goto page 14 and they value Galoc as worth US$240,000@$80/barrel and
US$320,000@$100/barrel a day revenue to NDO prior to taxes. Now thats for
22.7% of interest and FEP has 2.27% or 10% of NDO's share so this gives some idea what it might to FEP?
So i'm expecting a good trading opportunity here, imo?
dyor
cyril

What about production costs?

News from Nido's (NDO) is that the hook up process is taking longer than expected
so 1st production now put back to early May.
cyril