So... at this pace we expect to hit 3K Mcf/d around June 18th, 2014 and 4K Mcf/d around February 11th, 2015... based on this schedule:
Date K Mcf/d
I like that the gas output keeps increasing, however, I don't like that nothing was said about the CUBM negotiations re the exploration period. They filed an 8-k on it stating it would be finalized in 90 days then nothing. And then to bring up the ODP in this press release when we haven't heard anything on that front in a long time makes me wonder what they're up to. It doesn't seem to make a lot of sense and I don't know why they can't seem to see one thing through.
Looks like the rate of increase is staying steady. I'm going to consider that a good sign. Just hope it won't be too little too late. You would think one more year of good drilling would be all we'd need.
Weather has warmed up in China. Would've been nice to have started early this spring with a robust drilling and fraccing plan but it timing never seems to be good for FEEC. Maybe Mike can get another "9th inning" hit to send this things into "extra innings" one more time
I spoke with Catherine about when we might anticipate a new update and she said that it is McE's call and that he is travelling (in the USA). She does not know when it the PR will be...I asked a week or two and she just does not know at this point. I suggested folks are getting rather restless and she said that just asked for our patience and that there was nothing she felt was adverse that was going on. I agree with Runn that it would have been nice if there was some sort of known frequency for PRs rather than when it suits McE's mood
Look, drugdealer- I thought you had come around to the long side of this idea.. And I still think you have.. However- if your not able/willing to be patient for a while longer, just sell me, or us your stock man, and forget about this idea- there are others_ And here's a few that I personally own- MWIP, PHOT, MJNA, BPZ, FCEL... Just to name a few- But if you are long, and want this idea to appreciate- then say nice, encouraging, and help find out anything that may give additional support to the company or management- But the negativity is REALLY old man- Or, if you want to keep the idea, and your down on $$, BUY more down here at these levels to bring down Ur cost basis- We all know they have a World Class property here- and things are finally getting to a point to where we may see a significant change for the better, and the risk could very well be beginning to come out of this idea... It just depends on a few things.. So- it would be cool to hear some positive news, not only from mgt..., but also from U-
Sp is stuck cause they run'in out of money. If they find someone stupid nuf to lend them mony then thats great. If they dilute in any way thats very bad. Like i said b4 and i will say it again, we need a 500% increase in production, other wise watch your investment dwindle over a long painful wait.
Just give up. They are dragging their feet, milking common stock holders for all they can get. By the time the sp appreciates, you will have ben diluted and depreciated to the point of total loss.
No reason it should remain steady or worse. Should be up at least 10% based on the amount of time since the last update. Maybe 15%
From IV board by Brennus-
On 06dec13 FEEC announced that CUCBM had agreed to extend the exploration period for Shouyang Block B. At the same time they announced that:
"In addition, FEEB and CUCBM agreed to revise certain additional terms of the Shouyang PSC to reflect the agreement regarding the foregoing matters and certain other matters and intend to do so within 90 days following December 6, 2013."
90 days from 06dec13 works out to be this Thursday. So we could potentially hear something interesting this week. However, please keep in mind this is FEEC we're talking about. It's just as likely that FEEC can't get the job done by the 6th of March and they'll ask us to 'stand by to stanby'. It's possible nothing happens and we hear nothing. It's possible that something happens and we don't hear about it! Don't everybody get their panties in a wad if Thursday comes and goes without any news. Hard to tell with these screwballs.
If we do hear something, what will it be? What are 'certain additional terms'? What are 'certain other matters'? Who knows! Since CUCBM and FEEC were able to hammer out terms in area B of Shouyang, it makes some sense to speculate 'certain additional terms' would apply to area A, or the pilot area. Maybe FEEC will sell an equity stake in the pilot area to pay off SCB and fund exploration in area B. Heck, maybe FEEC will sell a controlling stake in area A, retain all rights they currently have to area B, and focus exploration efforts in that latter area. All these would require CUCBM approval...which explains why there has been an executive presence in China for the past several weeks.
Could it be a straight buyout of FEEC? Maybe, but I doubt it. Don't think they could turn that in time to meet the SCB extension date. Although SCB would probably just extend again anyhow so it's not a 0% chance of a buyout...just that all the other machinations don't seem to match that scenario.
IMHO... the next production update will be extremely important. If it has increased as others here (and on other message boards) have indicated it should then FEEC might just be at a "turning point". If the production has decreased or even remained steady then I believe the market will punish the share price in a most severe way. - IMHO