Re: This is how I see it
It's exhausting trying to sort through what is going on in Mike's head but I think we can assume that no news is not good news. Production hasn't spiked. No deal is in place.
But, look at how the last few big announcements came about. Total silence, then a botched PR regarding the debt financing (early 2013) that required a follow-up release the next day. A few days later we had the deal.
Then we got news of the ODP Road Pass weeks after the award.
Maybe FEEC sees no upside to leaking info about progress, either in terms of production or deal. And certainly dealing with China makes things all the more complicated and opaque.
But none of the above means there will be no deal. And none of the above means FEEC doesn't have assets in the form of the PSC, drilled wells and the support of China (subsidies, infrastructure).
Huw Williams ---according to LinkedIn---is still working for FEEC on a deal. Mike is still the CEO. They've updated their change-of-control rights and have on numerous occasions acknowledged that they are in (protracted) ''negotiations with various third parties''. If they aren't, then they are in a lot of trouble.
These things take time. No idea how it all ends but I think $.035/share offers fairly good odds for those willing to take a huge risk.