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

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

Flying now.
cyril

Just offered 35.5p, now thats a good profit, over a very short space of time.
cyril

Just back from the nutcase Stanelco thread....and FEP is rocketing....puts me into profit !

Moving up on the expected production update next week.
Only 28m shares issued for FEP, with the majority held by the directors/institutions.
Remember last well news came 2 years ago, when this gets going it flies away fast.

FEP recovering some of the recent gains which were lost, possibly mm's shaking
to weed out some weak investors? With maybe less than 2 weeks for production
start up, will be interesting to what level it might achieve,for me i'm looking for
a reasonable ,as this company although having tremendous protential is extremely volitile due to the polictics and corruption around their assets.
Confirmation of a service contract would do wonders for the SP and according to some is close to being completed and if it comes about would propel this company
well into 3 figures(pence),but this has muted for so long that i will sell on the
benifits of 1st production.
cyril

http://www.asx.com.au/asxpdf/20080423/pdf/318qnl8b51t33y.pdf
cyril

Nice one Cyril

http://www.inquirer.net/specialfeatures/spratlys/view.php?db=1&article=20080425-132667
cyril

http://www.investegate.co.uk/Article.aspx?id=200805020800076311T
cyril

Trading at 32.42/30.5p
cyril

NDO has released more news, the FPSO has arrived and is hooking up, 1st production end of MAY. SP up almost 8% to 34p, should slowly creep up over the next few weeks.
cyril