Ed, I had a ton of FEEC, started buying on the breakout on heavy volume around $2.30. Damn it was a thing of beauty!! Heck I just kept buying as it soared. Then it turned on a dime and imploded back to just below my original position. I hung in there until yesterday and then I blew out 80% of my position. Something just does not smell right, but I will keep what I have just because CBM in China flows off the tongue. Maybe all the following is behind them but give me a break, they can not even get a quorum for a meeting.
stockcharts.com
HOUSTON, Oct. 10 /PRNewswire-FirstCall/ -- Far East Energy Corporation (OTC Bulletin Board: FEEC - News; Berlin: FEN - News) announced that yesterday it closed its equity private placement after raising more than $5.9 million. The private placement involved the sale of one share of common stock and a warrant to purchase one share of common stock for $0.65. The net proceeds of these funds will be applied to work programs on the following joint ventures with ConocoPhillips and China United Coalbed Methane Co. (CUCBM) and a U.S. project in Montana in which FEEC has a 100% interest."
"Far East is also in the process of complying with a SEC subpoena. The SEC has requested documentation relating to Far East's board and shareholder meetings, the identities and contact information of parties related to Far East including its financial institutional relationships, the recent equity offering conducted by Far East, the MOU with ConocoPhillips, and the acquisition of property in Montana. Far East has already provided many of the requested materials, is working diligently to respond to all of the SEC's requests, and fully expects to produce the desired materials on or before October 19, 2003.
On October 7, Far East held its annual meeting of stockholders. However, due to a lack of quorum of votes present, Far East adjourned the meeting until October 14, 2003 at 2 pm. Items scheduled to be addressed at the meeting include election of directors, and ratification of the auditor." |
