RE:RE:I get pis...d Wcp, Just bear with me. I'm no financial accounting expert. Accounting equarion 101 says that total assets = total claims on assets = liabilties + share holders equity. Share holders equity is just another way of saying shareholders claims on assets.
So let's take a closer look at the left hand side of that equation financial accounting 101 ie total assets. In the general ledger there are many entries - cash, near cash like short term bonds. Then there's land, buildings, facilities, reserves/inventory, cash receivables, long term investments like stocks, bonds, debentures and other claims on other entities' assets just to name a few.
OK so under the entry in total assets they have posted CGX shares. As oyl sp goes down then fec total assets go down. But what if the reserve entry under the total asset category going up that might compensate for the drop in total assets due to a drop in oyl sp. I would have expected that fec would be pushing through $15 per share right now despite oyl's obviously incompetant management had they found something commercial because their balance sheet, despite a hit on oyl share value would have been net positive because of an increase in commercial reserve value that would increase their total assets. If their liabilities stayed more or less the same then the increase in total assets would show up as an increase in shareholders equity and share price on the right side of financial accounting equation 101. So why has fec's sp also taken a hit from over $13 to about $8 had they found something that would increase their total assets?