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Far East Energy Corp. Message Board

  • nakirykos nakirykos Mar 17, 2009 11:35 AM Flag

    As high as 75% has gone...Bad ....

    So feec has only 25 % now ?

    In addition there is a dilution due to this exchangeable note of 10 million $ ?


    Finally , what it stays for the shareholders of FEEC seems to be almost worthless.
    The EPS , if they ever make money and profits, will be less than 1 - 2 cents.

    Please correct me with dollar figures if i am mistaken.

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    • You are mistaken.

      1) Our new JV partner, Arrow, now owns 11% of FEEC and paid over twice the current share price. I'd say that means they have a vested interest in FEEC succeeding. Shell owns 10% of Arrow, so this goes all the way to spending Shell's money. Arrow didn't do this without Shell's approval.

      2) As I posted yesterday: per my calculations, post-JV terms, we still have P50 "recoverable" estimates (these figures are FEEC's share of the field, not total field estimates) as follows:

      0.88 TCF in Quinnan (16% share, Arrow operator)
      1.60 TCF in Shouyang (66% share, FEEC operator, Arrow owns 11% of FEEC)
      0.96 TCF in Yunnan (60% share - FEEC operator, Arrow owns 11% of FEEC)

      Total 3.44 TCF translates to roughly $3.44 billion market cap during the production phase (See Cabeza's blog or search Seeking Alpha)

      180 million shares outstanding and $3.44 billion market cap = $19.11/share in production. That is 76 times today's $.25/share price.

    • Stick around, someone will be by to straighten you out shortly..

 
FEEC
0.0325+0.0035(+12.07%)May 1 2:53 PMEDT