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

Afternoon all.

I'm surprised that some of you aren't a little more positive about FEP's prospects. The reserves estimate is for a field where there is known to be gas - (EDIT) which is not unlike VOG in August last year. Further appraisal drilling will of course be necessary, but one would hope that the likelihood of a duster is less than that of HNR's Flamant and in line with the kind of prospects that are said to remain with VOG (Well 103, and the rest of West Med).

FEP's current production is not huge although they have their coal production coming on stream soon. Discounting the coal scenario, I still don't see why this should not be accorded a higher rating on the basis of current field status plus a decent exploration premium. VOG didn't have much going on at Kemerkol in autumn last year and still eight-bagged on the news of reserves upgrades in the trillions of TCF's. Even when they only had around 16 BCF gas confirmed by D&M on 22 August the compnay was worth around 40 million, so I'd like to think we could see a lot more mileage on this yet.

On the other hand, the SP could languish for months like that of RIFT, but for my money this is a different kettle of fish.

Disagreements welcome - good luck to all!

15% of a 17m pound company is worth c 2.2m

15% of a 35m pound company is worth c4.4m

mkt cap of sterlng 257m -- immaterial even if fep trebles from here

soul in my view, this is a trading stock.

Once the news is out, digested, everyone has had their pound of it, it's time to sell it on.

If anyone holds at these levels, without there being production they will see the profit go.

That's my take.

Frankly it's a nice comopnay if you were in at the recnt lows.

Beyond that who knows where the sp will settle?

I know what I think.

Thansk for that Confident, that explains that.

As for the SP descending sharply - it may do yet but so far it has almost doubled today. I'd be surprised if this didn't find support around the 60-million mark due to its prospects, and without trying to ramp I feel it's worth a good deal more.

Still, each to their own. I missed the rise on GOO so am merely trying to make up for lost opportunities :o)

SWW - I agree that I might not hold my entire holding long-term, but am thinking months rather than days. What I would be keen to avoid is the mistake I made with VOG, where my core holding tripled and I failed to take profits.

Won't lose any sleep though - it's only money, after all.

Just broken the 100% barrier:

FEP Bid: 139p Offer: 143p Change: 72.5 (We closed yesterday around 69p, I believe).


I'm up 20%; my Dad's up 15%. Put together with HNR yesterday, its been a very enjoyable two days.

Well done soul.

I have answered over on HNR.

I'm not saying this is bad, just rememebr to take the money before it rolls back, (however far), because these things have a habit of doing that.

Thanks for the reminder. Due to compliance regulations imposed upon me as a bank employee I have to hang on to the shares for at least a month, but am hopeful that I should still come out on the right side.

And thanks very much, again, to The Master for the tip. Looking forward to tomorrow . . . .

Master

I need to send you bottle bubbly!!!!!


Made 5k today,cheers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

CT .... make sure you bank it then!

CYNIC

Am tempted to sell my IDD and FAO shres as this cover the loss JUST!!

as i/we have all learnt to our cost, a profit is no profit until banked ..... imo, take your profit or at least a ggodly portion thereof ..... FEP just feels to overblown for my liking

Todays FT


SMALL CAPS: GAS FIND DOUBLES PRICE OF FORUM ENERGY SHARES
By Peter Garnhamand Robert Orr

Published: September 27 2006 03:00 | Last updated: September 27 2006 03:00

*Shares in Forum Energy more than doubled to 140p after the explorer revealed that testing at its Sampaguita gas discovery in the Philippines indicated a "world class" gas asset of up to 20,000 billion cubic feet. Analysts at Noble & Company said that while many uncertainties remained, thefind could be worth about500p a share to Forum. But shares in Sterling Energy fell1.4 per cent to 18p despite the fact that it owns a 14 per cent stake in Forum.

well done the "brave guys" of which i was not one ..... sp is up another 20p at opening at about 158 ...... how does one now evaluate this company .... damned if i know, but it is almost 150% certain that sp will race ahead too far (but where to?) on expectation as has been seen previously on the likes of Elixir and Empyrian.

Steady move on upwards today, will need to reinvest profits elseware, any decent tips would help 'Capetown'

if you like the oil/mining sector, then would recommend Petrofac (PFX i think) on which i have already posted my reasons for investing there.

outside the above sector, then take a look at The Restaurant Group (RTN) or even lonely little Pipex (PXC) ... and also Shire Pharma (SHP) which is a really good company

Master,
sold idd and fao and fep profits covered thoes losses!!

Take a look at GME

This is now at th inevitable lurching stage, baskwards and forwards till someone decides where it should go next.

Good luck if you are holding.

IMO, take your profit if not already done so ..... take good note of how sp has performed today .... opened +20p and is now -3p ..... that implies to me that sp has been overcooked already