Please sell this thing out and let us off this ride to nowhere.....
Needs to be sold to someone who knows what they are doing. No doubt about that. Sounds like they have some financial advisors in the picture so hopefully we see soon.
Why a nickel? You think it won't sell for that? Or scared hands will bail. Seems like company should still sell for 20-25 cents in a fire sale... Which is basically where we are right now If drops to a nickel I would double or triple up
Horrible report for shareholders. The only thing that could have saved us would be if production had increased to over 5 mil. per day. Bottom line... shareholders are "screwed". Look for the price to drop below a nickle before the middle of next month. Al least "Mikey" has done right for himself and his own future. To quote "druggie" --- "f-ers" !! (jmho)
The Company continues in discussions with third parties and is working closely with its financial advisors to evaluate and negotiate an outcome, which could take the form of a farmout or an outright sale of the Company.
The Amendments extended the term of employment under each of the Employment Agreements to June 30, 2017, unless sooner terminated in accordance with the terms of the Employment Agreements.
The McElwrath Amendment amended the terms of the McElwrath Employment Agreement to provide that he shall receive an annual base salary of not less than $437,500.
The next reporting of production to come out soon will be a flow rate of about 3 MMcf/d. If they get paid $9 per Mcf then that equates to an income of $9.86 million per year. Taking into account their operating expenses that really isn't that much income. I'm curious where the break even point is.
Why would anyone pay the ask price when nothing has changed and nothing has changed.... Does someone see some value in this stock?????
Wow we closed up 0.0002 today in a bad market - better mark your calendar- bet that won't happen again for a while- like never....
need annual meeting to elect officers so we can vote, place proxies make adjustments based on stock values salaries of officers. I HAVE ASK ABOUT ANUAL MEETING NO ANSWER FROM THE COMPANY.
I think this is an older disclosure and is being posted as a reminder. I am ,more interested in who this poster is as I am wondering if it is an insider. Still, I do not think this is new so if the person is an insider it would not matter We are being told that dealing with the Chinese takes way too much time. Nothing seems to happen in a timely fashion. We never received an explaination or at least I missed it as to why the farmout arrangement with Arrow/Dart failed. It was postulated that he Chinese could not get their act together to approve it so the farmout could move forward. The CBM is there and something is going to happen with it. Green Dragon, the neighbors seem to be doing well enough. I encourage anyone to have a look at investorvillage where fuzzycowboy has been posting some rather interesting stuff.
where did this press release come from? Is this from FEEC corporate or an opinion of a shareholder? If this is a factual representation of the state of FEEC as a company, we might as well get out while there is minimal value.
To secure additional capital for future work programs and to repay the Facility Agreement on or before its maturity date, management must either explore potential strategic relationships or transactions involving one or more of our PSCs, such as a joint venture, farmout, merger, acquisition or sale of some or all of our assets or obtain additional debt, reserve based, project or equity-related financing. However, there can be no assurance that we will be successful in entering into any strategic relationship or transaction, securing capital or raising funds through additional debt, reserve based, project or equity-related financing. In addition, the terms and conditions of any potential strategic relationship or transaction or of any debt, reserve based, project or equity-related financing are uncertain, and we cannot predict the timing, structure or other terms and conditions or the consideration that may be paid with respect to any transaction or offering of securities and whether the consideration will meet or exceed our offering price. Due to certain factors, an offering of our common stock is likely not a viable alternative at this time, but a non-convertible preferred stock offering might be possible under certain circumstances. Under certain circumstances, the structure of a strategic transaction may require the approval of the Chinese authorities, which could delay closing or make the consummation of a transaction more difficult. There can be no assurance that the Chinese authorities will provide the approvals necessary for a transaction or transfer. There can be no guarantee of future capital acquisition, fundraising or exploration success.
Although we believe the results of our exploration activities in Shanxi Provinces to date have been favorable, we will need to complete more wells to achieve commercial viability in these provinces, which will require additional capital expenditures.