RE:RE:RE:RE:RE:RE:RE:My bet isMr. Daum,
Good to know an honest and hardworking man. I’m not as details oriented as you are and prefer the use of gut feeling when investing. Here is my take on some of your research results.
Far East Oil & Gas Ltd. was incorporated back on December 22, 1997, as an Alberta Business Corporation. After a while, many companies cease to have any business activities and are left dormant until they are needed; further, subsidiaries aren't legally required to be incorporated.
Far East Energy is similar in name but in no way related to PTR or TWE.
On November 1, 2009, PTR exercised warrants to purchase ($500,000) 16,666,667 common shares of TWE. This was mentioned in the Mar 1/2010 Interim Financial and MD & A, and again on May 31/2010 Interim Financial that has the notes on Long-Term Investment, and Government Grant. It would indicate that PTR advanced the $500,000 to TWE on knowing that the grand was approved, but PRT will be paid on completion of works, shown as grant receivable on its balance sheet.
The incorporation of Petromin Resources (Asia) Ltd, this is just a hunch, back than PTR didn’t have funds to purchase 80+% of TWE, there was mention of a Hong Kong company to purchase shares of PTR, but it ended up each with a 40%-40% initial investment between PRT and EE. And subsequent investments made this ratio 17%-83% (or 12+% - 87+% fully-diluted). As for International King Jack Hydrocarbons Inc, it could well be another wholly owned subsidiary of International King Jack Inc, or the formally King Jack Inc.
On the last point, I can just say that this is a micro-corporation, there isn’t the resource to do all that and more, but most would find it to be adequate and surely much better than my personal financials. TWE is in its fourth year of arbitration, and I’d been in PTR from the beginning and want to see the company around to receive the award.
Respectfully,
A shareholder