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[MCGabriel]

Heads of Agreement Signed for Significant Acquisition in the Philippines



CALGARY, Alberta, Feb 9 /PRNewswire-FirstCall/ -- The following was released on behalf of the Board of Forum Energy Corporation, by David R. Robinson, President and CEO:

Forum Energy Corporation (OTC Bulletin Board: FRUEF, Frankfurt/Munich: FE8) ("Forum" or "The Company") reports the signing of a Heads of Agreement ("HOA") for the purchase of an offshore petroleum license in the Philippines. The HOA is with a UK-based Oil & Gas Company and is subject to the execution of definitive agreements by the end of February 2005, and to the extent required, approval of regulatory authorities. Forum will provide updates as necessary.

In view of the potential acquisition of additional petroleum licenses in its current region of operations, Forum has decided not to pursue its previously announced acquisition in Tunisia and has therefore allowed the Memorandum of Understanding to expire at no cost to the company. Forum will instead remain focused on the development of its projects in the Philippines.

Forum also reports that it has granted a total of 10.6 million additional options under the Company`s stock option plan.

On behalf of the Board of,
FORUM ENERGY CORPORATION
"David R. Robinson"
President & CEO

This release contains "forward looking statements" as per Section 21E of the US Securities and Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Management is currently reviewing many options and there is no assurance that they will not make decisions other than those now contemplated. The Company is subject to political risks and operational risks identified in documents filed with the Securities and Exchange Commission, including changing and depressed oil prices, unsuccessful drilling results, change of government and political unrest in its main area of operations

For more information please contact David Robinson at 403-290-1676 e-mail [e-mail] or visit the Forum Energy website at www.forumenergy.com.

SOURCE Forum Energy Corporation
-0- 02/09/2005
/CONTACT: David Robinson of Forum Energy Corporation, [phone], or
[e-mail]/
/Web site: http://www.forumenergy.com/
(FRUEF)

CO: Forum Energy Corporation
ST: Canada, Philippines
IN: OIL UTI
SU: TNM

KG-EB
-- SFW068 --
9912 02/09/200504:30 ESThttp://www.prnewswire.com

[MCGabriel]

Hier der Chart Da kann es mal ganz schnell durch den Wiederstand durch und auf die 0.20 oder höher gehen

[jojobada]

0,35 durchaus möglich.

[MCGabriel]

FRA jetzt 0.124 plus 7 %

[MCGabriel]

BID und ASK ziehen an - jetzt 0.13

Kaum Stücke und der Makler taxt sofort hoch

[MCGabriel]

Hi Jojo laß da in USA mal paar Umsätze reinkommen, dann platzt die Bombe

[MCGabriel]

ASK jetzt hoch auf 0.132 ohne Umsatz - es gibt keine Stücke

[MCGabriel]

Hab noch 10k drin in FRA zu 0,122 Der gibt nix ab

[wurstfinger]

ob das nochmal was wird?

[marc22]

die macht ja ganz schöne sprünge,
gestern minus 20%
und heute plus 66% auf 0,15
und montag?

[hainholz]

Mal wieder ausgegraben,da neu bewertet werden muß!

About FEC Resources, Inc FEC Resources Inc. (formerly Forum Energy Corporation) (“FECR” or “The Company”) is an independent company listed on the NASD OTC Bulletin Board and the Frankfurt and Munich Stock Exchanges.

On 18th May 2005 the company, through resolutions passed at the EGM, completed the necessary shareholder approvals for the transfer of its 66.67% interest in Forum Exploration Inc (“FEI”) to a new UK company – Forum Energy Plc. In conjunction with this transfer the significant GSEC101 Gas asset has also been transferred to Forum Energy Plc through an agreement with Sterling Energy Plc, an AIM listed UK company with a market capitalisation of over US$400m

The name FEC Resources Inc. has been adopted as part of the Company’s new corporate identity which will encompass changes to both the asset structure and the running of the organization, with major changes to the Board of Directors, and will aid in broadening the Company’s focus.

Following the transfer of the FEI and Sterling assets to Forum Energy Plc, and following an approximate US$6.2m pre-IPO financing FECR’s stake in the new company is approximately 57.4% with Sterling Energy holding approximately 23%

Forum Energy Plc will apply for admission to the AIM market of the London Stock Exchange following an estimated US$20m IPO in July 2005.

The new structure of the company will enable accelerated development of the substantial Oil, and Gas assets held through the Forum Energy Plc’s collective licenses, and will in turn deliver value to FEC Resources Inc. shareholders through the company’s majority stake in the new group.

Whilst maintaining this significant interest in oil, gas and coal in the Philippines through the shareholding in Forum Energy Plc, the company has uniquely positioned itself to pursue additional Philippine assets in the resources sector, thus taking advantage of the experience now available in these fields which exists at Board level, along with management and consultants with regional expertise, and most importantly the prospects of a country rich in undeveloped minerals.

To learn more about the Oil, Gas and Coal assets of Forum Energy Plc visit their website at www.forumenergyPLC.com

For regular updates on the operations of Forum Energy Plc visit www.FECResources.com/corporate/news.aspx

For General Enquiries email: [e-mail]

Top

[hainholz]

mal ausgegraben,da eine neue Bewertung erfolgen muß!

About FEC Resources, Inc FEC Resources Inc. (formerly Forum Energy Corporation) (“FECR” or “The Company”) is an independent company listed on the NASD OTC Bulletin Board and the Frankfurt and Munich Stock Exchanges.

On 18th May 2005 the company, through resolutions passed at the EGM, completed the necessary shareholder approvals for the transfer of its 66.67% interest in Forum Exploration Inc (“FEI”) to a new UK company – Forum Energy Plc. In conjunction with this transfer the significant GSEC101 Gas asset has also been transferred to Forum Energy Plc through an agreement with Sterling Energy Plc, an AIM listed UK company with a market capitalisation of over US$400m

The name FEC Resources Inc. has been adopted as part of the Company’s new corporate identity which will encompass changes to both the asset structure and the running of the organization, with major changes to the Board of Directors, and will aid in broadening the Company’s focus.

Following the transfer of the FEI and Sterling assets to Forum Energy Plc, and following an approximate US$6.2m pre-IPO financing FECR’s stake in the new company is approximately 57.4% with Sterling Energy holding approximately 23%

Forum Energy Plc will apply for admission to the AIM market of the London Stock Exchange following an estimated US$20m IPO in July 2005.

The new structure of the company will enable accelerated development of the substantial Oil, and Gas assets held through the Forum Energy Plc’s collective licenses, and will in turn deliver value to FEC Resources Inc. shareholders through the company’s majority stake in the new group.

Whilst maintaining this significant interest in oil, gas and coal in the Philippines through the shareholding in Forum Energy Plc, the company has uniquely positioned itself to pursue additional Philippine assets in the resources sector, thus taking advantage of the experience now available in these fields which exists at Board level, along with management and consultants with regional expertise, and most importantly the prospects of a country rich in undeveloped minerals.

To learn more about the Oil, Gas and Coal assets of Forum Energy Plc visit their website at www.forumenergyPLC.com

For regular updates on the operations of Forum Energy Plc visit www.FECResources.com/corporate/news.aspx

For General Enquiries email: [e-mail]

Top

[hainholz]

Bei dem lächerlichen Kurs,kann man nichts anbrennen lassen.

Außerdem in Kürze AIM Listing

[hainholz]

New issues list





The New Issues List is a list of all new companies which are either seeking admission to one of our markets or have been admitted to trading within the last seven days. This list provides basic information on the company, terms of the offer and its sponsors.



Offer details | Company details | Advisor details


Further information about the terms of the offer.

Forum Energy Plc
Offer details

Expected offer price (p):
Expected size of offer (M): £TBC
Expected retail portion (if any):
Expected Market Cap (post issue)(M):
Method of issue:
Expected first date of trading:
Market: AIM
Proceeds to be used for:
Location of address at which admission document will be available: Noble & Company Limited 120 Old Broad Street London EC2N 1AR

[hainholz]

FEC Resources has reported that Forum Energy has completed a key seismic survey across an offshore area believed to contain promising oil and gas prospects. Alongside a program to begin production from proven gas and coal reserves over the next 12 months, Forum has just completed an offshore 2D seismic acquisition program in the Tanon Strait, west of Cebu Island.

The seismic survey, completed by the Veritas Searcher, acquired 310 kilometres of new data in license SC40, where Forum Energy Plc holds a 67% interest and structures within the area covered by this survey have combined production during the first half of 2006. potential reserves of 350 million barrels of oil according to estimates made by the independent geoscientific consultancy, PGS Reservoir Ltd.
Forum Energy Plc, which will now open its London headquarters in July following a successful c. US$6,2 million fundraising from UK institutional investors, has commissioned Spectrum Energy (UK) to process this seismic data over the course of the summer.

FEC Resources, Inc. is an independent company and through its majority shareholding in Forum Energy Plc has a significant interest in oil, gas and coal in the Philippines as FEC Resources holds a 57.9% in Forum Energy Plc. With the Company`s recent strategic changes, it has uniquely positioned itself to pursue assets in the resources sector of the Philippines, thus taking advantage of the Board level experience now available in these fields along with management and consultants with regional expertise, and most importantly the prospects of a country rich in undeveloped minerals

[hainholz]

http://secfilings.nasdaq.com/filingFrameset.asp?FileName=000…

[hainholz]

[hainholz]

auch hier könnten in Kürze 100%%%%%%%%
drin liegen

[hainholz]

Forum Energy PLC is a UK based Oil, Gas and Coal E&P Company with a portfolio of projects in the Philippines
Forum Energy Plc was incorporated in April 2005; the Group was established through the consolidation of the Philippine assets of Forum Energy Corporation of Canada and Sterling Energy Plc of the UK into one corporate entity. Potential unrisked reserves estimates for the seven prospects and three discoveries within the licences held by Forum total some 900 mmbbls in the oil case or 5,500 BCF in the gas case. The company also has 4.9m tonnes of proven and probable coal reserves. Forum has recently completed a £3.4m pre-IPO financing and intends to list on AIM later this year.

[hainholz]

COAL ASSETS
FEI was awarded two coal operating contracts on Cebu Island by the DOE on 23 February 2005, located at Balamban-Naga (Central Cebu) and Dalaguete (South Cebu), which have estimated proven and probable coal reserves of 4.9 million tonnes of coal.

CENTRAL CEBU COC
The Central Cebu COC consists of two sets of two Coal Blocks covering an area of 4,000 hectares. The two sets of Coal Blocks consist of CB 33-I-193, CB 33-I-194, CB 34-I-68 and CB 34-I-69

SOUTH CEBU COC
The South Cebu COC consists of two sets of two Coal Blocks covering an area of almost 2,720 hectares. The two sets of Coal Blocks consist of CB-179, CB-180, CB-219 and CB-259.

COAL OPERATING CONTRACTS
The COCs have been awarded for one year to allow the Group to undertake exploration within the acreage. The Group has the option to extend the Coal Exploration Phase by one year or declare Coal Reserves in Commercial Quantity and begin the Coal Development Phase, which is for a period of ten years. This phase can be extended for a further period of ten years and thereafter by three year extensions up to a maximum of 12 years. The Group is only able to retain the Coal Blocks within the COCs for which it enters into the Coal Development Phase. All remaining Coal Blocks within the COCs must be relinquished prior to the start of this phase or approved for further exploration. Each COC has the following commitments:

Philippine Pesos 600,000 signature bonus;
Within the first year the Group must secure a Certificate of Non-Coverage and an
Environmental Compliance Certificate from DENR and a Precondition Certificate from the NCIP; and
Implement the work programme detailed in the COC, with a minimum spend of
Philippine Pesos 1,000,000 per block.
In any year the Group is be able to recover from the gross income received under the COC
All associated operating expenses provided that the amount does not exceed 90 % of total gross income in any year. Operating expenses exceeding 90 % of gross income, including from those years when there was no income, can be recovered in subsequent years
Receive a combined fee plus a special allowance of up to 70 % of the net operating income.
The balance of the gross income generated within the COCs is due to the DOE.

The Government of the Philippines has granted exemption from all national taxes except income tax to the Group as operator of the contract. It is the Board`s intention to carry out the Coal Exploration Phase over all four blocks in each COC, and subject to results, proceed to the Coal Development Phase on selected Coal Blocks. The Group will either relinquish or extend for a further year the Coal Exploration Phase on the remaining Coal Blocks. It is the Board`s intention to proceed to the Coal Development Phase as soon as is reasonably possible.

[hainholz]

LIBERTAD GAS FIELD
The Libertad Gas Field is situated in northern Cebu, north of Cebu City. The field was discovered in the late 1950`s but was not developed. In 1993, a testing programme was carried out on two wells and during 1994 and 1995 five additional wells were drilled on Libertad. One of these wells tested gas and subsequently completed as a gas producer.

In 2004, Forum Energy carried out a feasibility study to determine the most commercially viable option for the development of the field. The results of this work recommended a development plan using three gas-to-electricity generators, with a maximum of 3.0 MW.

Negotiations are underway with Cebeco, the national electricity provider, for the Group to supply power to the local grid. Gas production is currently scheduled for the first half of 2006.

[hainholz]

Heute geht es los

Neubewertung jetzt 55 Mio wert

Forum Energy Plc Closes Successful 11 million Pounds Sterling Placing Ahead of Arrival to AIM
8/2/05

CALGARY, Alberta, Aug 02, 2005 /PRNewswire-FirstCall via COMTEX/ --
FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) reports that Forum Energy Plc (" Forum" ), the UK energy group with gas, oil and coal assets in the Philippines, of which FEC Resources is a major shareholder has announced the completion of a second-round fund raising which saw key institutions invest 11.0 million pounds (US$19.35m) for 36% of the company at 1.12 pounds (US$1.97) per share. An earlier placing in May raised approximately 3.4 million pounds (US$5.98 million) at 1.00 pounds (US$1.76) per share.

Forum`s assets include the highly promising Sampaguita gas discovery in the Reed Bank offshore license area, the SC 40 (Cebu) license with known onshore and offshore gas and oil discoveries, and two coal operating contracts on Cebu Island. The company has estimated potential reserves from three discoveries totaling some 2,330 BCF of gas and proven and probable coal reserves of 4.9 million tones.

The company expects to start generating gas and coal production revenues during the first half of next year, and operates in a country where energy development is a government priority.

Approximately 27.2 million shares will be admitted to AIM, at 1.12 pounds (US$1.97) per share, valuing the company at 30 million pounds (US$52.78 million). Following the placement FEC Resources, Inc. will be the largest single shareholder with a 37.6% stake in the business valued at approximately US$20m.

Forum Energy Plc shares will commence trading on the AIM market on August 2nd.

" We are delighted that Forum Energy Plc has successfully closed this substantial round of fund-raising. FEC Resources shareholders will benefit greatly from the accelerated development of the Philippine Oil, Gas and Coal assets of Forum Energy Plc through our significant shareholding in the business," commented Larry W. Youell, President & CEO.

To learn more about FEC Resources, Inc visit www.FECResources.com. To learn more about the Oil, Gas and Coal assets of Forum Energy Plc visit their website at www.forumenergyPLC.com

For General Enquiries email: [e-mail] On behalf of the Board of, FEC Resources, Inc. " Larry W. Youell" President & CEO

This release contains " forward looking statements" as per Section 21E of the US Securities and Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Management is currently reviewing many options and there is no assurance that they will not make decisions other than those now contemplated. The Company is subject to political risks and operational risks identified in documents filed with the Securities and Exchange Commission, including changing and depressed oil prices, unsuccessful drilling results, change of government and political unrest in its main area of operations For more information please contact Larry Youell at [phone] e-mail [e-mail] or visit the FEC Resources website at www.FECResources.com

SOURCE FEC Resources Inc.

Larry Youell of FEC Resources

legt schon gut los in USA

[hainholz]

Company Forum Energy Plc
TIDM FEP
Headline First day of dealing
Released 08:00 02-Aug-05
Number 5871P




Forum Energy Plc
02 August 2005



Forum Energy Plc Placing and Admission to AIM



Forum Energy Plc (‘Forum Energy’ or the ‘Company’), the UK energy group with a diverse portfolio of gas, oil

and coal assets in the Philippines, arrives on London’s AIM market today.



The Company expects to start generating gas and coal production revenues during the first half of next year,

and operates in a country where energy development is a government priority.



Its arrival follows the recent completion of a second-round fund raising which saw key institutions invest £11.0

million, before expenses, for 36 per cent. of the company at 112p per share. An earlier placing in May 2005

raised approximately £3.4 million at 100p per share.



Forum Energy’s assets include the Sampaguita gas discovery in the Reed Bank offshore licence area, the

SC 40 (Cebu) licence with known onshore and offshore gas and oil discoveries, and two coal operating

contracts on Cebu Island.



Sterling Energy Plc, also quoted on AIM, holds approximately 15 per cent. of Forum Energy, while Sterling

Chief Executive Harry Wilson and Finance Director Graeme Thomson sit on the Forum Energy board as

non-executives.



Forum Energy Chief Executive David Robinson said: “We are delighted to be arriving on AIM with

such strong institutional backing and with a management team that has extensive experience of operating in the

Philippines.”



The Company has an office in London and runs its operations from Manila.



Approximately 27.2 million shares will be admitted to AIM, at 112p per share, valuing the Company at

£30.5 million.



Noble & Company Limited is the Company’s broker and nominated adviser.


Placing Statistics:

Placing Price 112p
Number of new ordinary shares being issued under the Placing 9,821,450
Percentage of enlarged issued share capital subject to the Placing 36 per cent.
Number of ordinary shares in issue on Admission 27,221,450
Gross proceeds of the Placing £11,000,024
Net proceeds of the Placing to be received by the Company £10,000,000

Copies of the prospectus will be available free of charge at the offices of Noble & Company Limited,
120 Old Broad Street, London, EC2N 1AR during normal business hours on any weekday
(except public holidays) for a period of one month from the date of Admission.


For further information contact:



David Robinson, Chief Executive, Forum Energy Plc: [phone]

Adam Westcott, Noble & Company Limited: [phone]

Ian Foster, First City Financial Public Relations: [phone]

[phone]

[hainholz]

Philippinen, ein Nettoimporteur von Energie, gesagt auf fremden Unternehmen Mittwochs 16 hatte Angebote eingereicht, um Öl- und Gasaufstellungsorte in der ersten Auktion des Landes der Blöcke um sein größtes vom Land entferntes Feld zu entwickeln.

Die Energieabteilung sank, die Firmen zu kennzeichnen, aber sagte Unternehmen, die Interesse Vergangenheit umfaßten an ChevronTexaco Corp, am Erdöl BHP Billiton und an der Gesamtmenge angezeigt hatten.

Energiesekretärin Vince Perez sagte, daß die Regierung Verträge bis Mai zusprechen konnte.

"die Regierungsstandplätze legten am Entwickeln unserer eigenen Energiebetriebsmittel, um unsere energiewirtschaftliche Unabhängigkeit in der Mitte der hochfliegenden Ölpreise im Weltmarkt zu erhöhen fest," sagte er in einer Aussage.

Das asiatische Südostland, kämpfend lure die Investoren, wie es neue Energiezufuhren sucht, um steigende Inlandsnachfrage einzuziehen, 46 Blöcke angeboten, die tief flachen Wasseraufstellungsorten bedecken.

Die Blöcke -- die in der Größe von 2.000 bis 8.000 Quadrat-Kilometer sich erstrecken -- sind nahe dem vom Land entfernten Gasfeld Malampaya und anderem Öl, Felder nah an der südlichen Insel von Palawan produzierend.

Das $4,5 Milliarde Malampaya Gasprojekt -- die größte Auslandsanlage des Landes -- wird durch die Royal-/Dutchoberteilgruppe und U.S.-basedsparren Texaco bearbeitet. Jedes hält eine 45-Prozent-Stange, wenn die Regierung die restlichen 10 Prozent besitzt.

Das Feld Malampaya, das wiedergutzumachende Reserven von 2,5 Trillion Kubikfuß (70,8 Milliarde Kubikmeßinstrumente) Gas und 85 Million Fässern des Kondensats hat, tankt drei Kraftwerke mit einer kombinierten Kapazität von 2.700 Megawatt.

Die Philippinen produzieren 260 Million Kubikfuß (7,36 Million Cumeßinstrumente) pro Tag des Erdgases -- hauptsächlich in Malampaya -- aber sein grober Ausgang ist gerade 400-600 Fässer pro Tag. Das zwingt ihn, um bis 300.000 bpd zu importieren.

Die Philippinen besagten Fremdfirmen konnten Erforschung- und Entwicklungskosten von 70 Prozent groben Erträgen erholen. Sie erhalten ein Maximum von 40 Prozent der Nettoerträge, wenn 60 Prozent zur Regierung gehen.

Die Fremdfirmen auch müssen nicht nationale Steuern zahlen.

Andere Unternehmen, die Interesse an der Auktion gezeigt hatten, umfaßten Unocal Corp, BG Group Plc, Forum Energy Corp und Zustandölfirma Petronas, eine gesagte Energieabteilungssprecherin Malaysian.

Sie nannte auch Daewoo International Corp, Öl und Gas Genting, Oberteilerdölerforschung BV, ENI Indonesien, Schlumberger Ltd. und WestGeco

[hainholz]

http://www.fecresources.com/

[hainholz]

nun geht es langsam los,die ersten werden hellhörig

[hainholz]

allein die 7 Mio Tonnen Kohle können 800 Mio $$$$ bringen

[hainholz]

Forum Energy makes strong debut on AIM


UK-based Forum Energy has made a strong debut on the Alternative Investment Market (AIM).

Forum Energy, which develops oil, gas and coal assets throughout the Philippines, made a successful debut on the AIM with shares rising from 115 pence to 122 pence by the close of trading.

The company has admitted a total of 27.2 million shares to the AIM, with an initial market value of £30 million. FEC Resources is the largest single shareholder with a 37.6 per cent holding.

"We are delighted that Forum Energy has successfully closed this substantial round of fund-raising," said Larry Youell, president & CEO with FEC Resources.

He added: "FEC Resources shareholders will benefit greatly from the accelerated development of the Philippine oil, gas and coal assets of Forum Energy through our significant shareholding in the business."

Forum Energy raised around £3.4 million in funds following a similar placement in May and is expecting to start generating gas and coal production revenues during the first half of 2006.

[hainholz]

http://www.forumenergyplc.com/downloads/AdmissionDocument.pd…

[hainholz]

FEC RESOURCES INC. (OTCBB: FECOF, Frankfurt/Munich: FE8) ("FECR" or "the company") reports that the company has entered into an agreement to acquire a stake in an iron ore mining license located in close proximity to Manila, Philippines.

In order to pursue prospective interests in an iron ore concession covering 64 hectares with probable reserves of approximately 20 million metric tons, FECR has acquired a 20% stake in Transpacific Mining Limited (TML), a BVI company. The acquisition was funded through a US$500,000 non-interest bearing and unsecured loan from FECR to TML, to be repaid through an overriding royalty at the rate of 5% of gross FOB export sales.

"We are confident that our move into the resources sector and specifically to iron ore, will deliver significant value to our shareholders. Our iron ore operations are situated in a region of the world which we understand very well, and we look forward issuing further information as it becomes available." commented Larry W. Youell, President and CEO

Mr. Youell concluded "Now that our oil, gas and coal assets are being successfully managed through Forum Energy Plc we will be solely focused on the generation of a solid revenue stream through our interest in TML"

Further information will be released when available

To learn more about FEC Resources, Inc visit www.fecresources.com

FEC Resources Inc. currently holds 36.7% of Forum Energy Plc - to learn more about Forum Energy Plc visit www.forumenergyplc.com

On behalf of the Board of,

FEC Resources, Inc.

“Larry W. Youell”

Larry W. Youell

[hainholz]

Forum said it expects to start generating gas and coal production revenues during the first half of next year.

Deshalb jetzt positionieren

[hainholz]

Forum Energy Completes Acquisition of Philippines’ Manguerra MiningCalgary-based Forum Energy Corporation, an oil and gas exploration and developmentcompany, announced that it has completed the purchase of the Manguerra Mining andDevelopment Corporation of Cebu, Philippines. The Manguerra coal licences cover 1,000hectares and have proven coal reserves of approximately seven million tons.Information summarized from: Forum Energy Corporation Press

[hainholz]

The Department of Energy has granted a seven-year exploration contract to Forum and Japex worth $10 million. Tañon Strait, which the DOE said could have around one billion barrels of oil reserves , is the first exploration site, followed by Cebu Strait, according to Pamalakaya.

[hainholz]

ÖL UND GAS Potential unrisked Reserveschätzungen für die sieben Aussichten und drei Entdeckungen innerhalb der Lizenzen zählen ca. 900 mmbbls im Ölkasten oder 5.500 BCF im Gasfall zusammen. Auf einer riskierten Grundlage, geschätzten möglichen Reserven von der Summe mit drei Entdeckungen bis 2.330 BCF von Gas und geschätzten riskierten Reserven von den Aussichten innerhalb der Lizenzsumme zu 93 mmbbls oder 320 BCF in einem Gasfall. Erwiesene und wahrscheinliche Kohlereserven sind 4.9 Million Tonnen. Die Firma beabsichtigt, die Erforschung, die Entwicklung und die Ausnutzung seiner onshore und vom Land entfernten Kohlenwasserstoffwerte und -suchvorganges auszuüben, um weitere Lizenzen in den Philippinen zu erwerben. Managementmannschaft der Forum-Energie hat umfangreiche Erfahrung in sich entwickelnden Entdeckungen und in Aussichten zur Produktion und Verhältnisse innerhalb der Regierung der Philippinen.

[hainholz]

der Ausbruch beginnt

[hainholz]

FECOF 0.08 +0.02 +33.90% Vol:416,010

[hainholz]

mal auf den Spread achten






15 Minuten verzögerte Kurse
Börse Symbol Währ. Vortag akt.Kurs Diff. % Handelsvol. gehand. St. Kurszeit
OTCBB FECOF USD 0,059 0,079 + 0,020 + 33,90 % 25.551 416.010 30. Sep 22:00
Berlin FE8 EUR 0,033 0,039 + 0,006 + 18,18 % 0 0 30. Sep 09:14
München FE8 EUR 0,047 0,046 - 0,001 - 2,13 %

[hainholz]

einfach übersehen worden ,nehme ich an.

deshalb husch ,husch hinein

[hainholz]

http://www.stockhouse.com/news/news.asp?tick=FECOF&newsid=29…

[hainholz]

http://www.stockhouse.com/news/news.asp?tick=FECOF&newsid=29…

[hainholz]

Großinvestoren steigen zu

Company Forum Energy Plc
TIDM FEP
Headline Notifiable Interest
Released 16:25 11-Oct-05
Number 5215S



11 October 2005



Forum Energy Plc (`the Company`)



Notifiable Interest




The Company announces that it received notice on 7 October 2005 that on
3 October 2005, The Goldman Sachs Group, Inc., including its direct and
indirect subsidiaries, had an interest of 2,208,000 ordinary shares of 10p
each in the Company, representing 8.11% of the issued share capital of the
Company. These shares will be registered in the name of Goldman Sachs
Securities (Nominees) Limited.

This represents the entire holding of The Goldman Sachs Group, Inc. in the
issued share capital of the Company.






For further information please contact:



David Robinson, Chief Executive, Forum Energy Plc: [phone]



Adam Westcott, Noble & Company Limited: [phone]



Ian Foster, First City Financial Public Relations: [phone]

[phone]



END

[hainholz]

Company Profile (13:39 05/10/05)




Forum Energy Plc is an AIM listed, UK energy group with gas, oil and coal assets in the Philippines. In May 2005 it raised £3.4 million from UK institutional investors in a pre-IPO fundraising which was followed by a successful £11 million IPO fundraising.

The Company has a mix of near production oil and gas with exploration upside in the following Philippine assets: SC40 (Cebu), GSEC101 (Reed Bank) and two Coal Operating Contracts (COC).


Early production is expected from the Company’s first gas field and from coal mining during the first half of 2006. The Company also has other projects in hand to build forward revenues, and holds the licence covering the giant Sampaguita gas discovery (Reed Bank) offshore Palawan Island.


Service contract SC 40, which covers several thousand hectares in the northern half of Cebu Island, contains the Libertad gas field. Forum holds two thirds of the SC 40 licence. Within the basin approximately 130 shallow wells have been drilled, with a number of oil and gas discoveries. The Libertad gas field holds some 1.2 billion cubic feet of gas. Forum anticipates that two or three wells are capable of producing 1.2 million cubic feet of gas a day individually. This is equivalent to around 200 barrels of oil a day from each well. The Company anticipates that within 2005 there will be a gas to electricity contract with local utility, Cebeco. Production is expected by the first half of 2006 and the field is thought to have a life of seven years.


There are numerous other prospects on SC 40 including the Tanon Straits prospect which is currently being evaluated through a seismic acquisition and re-processing programme. The Philippines Department of Energy says the Tanon Straits structure could contain up to 1 billion barrels of oil and extensive gas reserves. Independent Petroleum Engineers have estimated Potential reserves of the prospect at 264 million barrels of oil or 660 bcf on a gas case scenario.


Forum expects, also in 2005, to re-enter a well on the Maya prospect on the northern tip of Cebu Island and work it over before placing it on a long term testing. A nearby well tested at 217 million standard cubic feet per day and estimates indicate that the Maya field could have reserves of 2.8 million barrels of oil or 0.75 billion cubic feet of gas.


Also on Cebu Island, Forum has acquired two Coal Operating Contracts (COCs) that contain coal with a calorific value of 11,000 British Thermal Units (BTU). Estimated proven and probable reserves are 4.9 million tonnes, and potentially as much as 20 million tonnes. Coal can be very lucrative on Cebu since there is great demand from utilities and mining companies for energy supply. Forum expects production by the end of 2005 at around 500 tonnes a month rising to 9,000 tonnes, with a mining cost of US$25 a tonne and a sales price of at least US$45 a tonne.


Forum’s other key asset is the Reed Bank license, which covers a large offshore area to the west of Palawan Island. In 2005 Forum completed the acquisition of 100 per cent of GESC 101 (Reed Bank) from the UK’s Sterling Energy in exchange for Sterling having a 28.6 per cent interest in Forum (pre-fundraising). Reed Bank holds a number of prospects and leads, the most exciting and immediate of which is the Sampaguita gas discovery that could contain over 2.3 trillion cubic feet of gas reserves and is on trend with the giant producing Malampaya gas and oil field 150 kms away. The Company is currently assessing the discovery though a comprehensive 3-D seismic acquisition programme.


Finally, in mid 2005 Forum was in discussions to farm in to the Nido and Matinloc producing areas offshore North West Palawan Island. These fields are part of what have been described as a “string of pearls”. Amoco discovered these two fields 25 years ago, drilling three to four wells per field. Production in mid 2005 was around 1,200 barrels of oil per day. But Forum believes there are sufficient reserves remaining to boost this to 5,000 to 10,000 barrels of oil per day.


< back

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gewaltig

Die FEC Betriebsmittel-Zunahmen, die der Eisenerz-Lizenz halten, und die Produktion beginnt bei 20.000 metrischen Tonnen pro Monat 11/8/05 CALGARY, Alberta, Nov. 08, 2005 /PRNewswire-FirstCall über COMTEX/ -- FEC BETRIEBSMITTEL Inc.. (OTC Anschlagbrett: FECOF; Frankfurt/Munich: FE8) ("FECR" oder "die Firma") freut sich, um zu berichten, daß die Firma Bezeichnungen zugestimmt hat, um sein Interesse an einer Eisenerzminelizenz zu erhöhen, die auf den Norden von Manila in der Provinz von Bulacan, Philippinen aufgestellt wird. Die Vereinbarung ersetzt das vorher verkündete Abkommen mit dem begrenzten Transpacific Bergbau ("TML") und dementsprechend die Firma erhöht seine Stange in der Lizenz um 15%, indem sie ein direktes die 35% Billigkeit Interesse an Metalore Mining Corporation ("MMC"), Philippine Operating Company erwirbt, das die 64-Hektar-Lizenz besitzt und laufen läßt, die in der nahen Nähe nach Manila aufgestellt wird. Als Teil der Verhandlung wird die vorhergehende 20% indirekte Holding der Firma, gehalten durch TML, annulliert, wie das ursprüngliche Nichtinteresse USS500,000 Lager und das ungesicherte Darlehen von FECR zu TML werden. Tml bleibt der Majorität Aktionär von MMC. Ein unabhängiger kompetenter Person-Report zeigt an, daß die geschätzten wahrscheinlichen Reserven der Lizenz zwischen 25 - 50 Million metrische Tonnen hohes Gradeisenerz, mit F.E. Inhalt in der Strecke 60 - 75% sind. Produktion begann im Oktober mit einer Ausgangsrate von 20.000 metrischen Tonnen pro Monat. "wir werden erfreut, unsere Holding erhöht zu haben, besonders da Bargeldumlauf unmittelbar drohend ist. Die Ausgangsproduktion Rate, die bis jetzt auf Arbeit basiert, liefert erheblichen Bargeldumlauf an die Firma, wenn über die ersten Verkaufsverträge in naher Zukunft verhandelt werden. Die Firma kann einen gleichwertigen zuerstanteil der Produktion 7,000MT pro Monat erwarten, der unsere Bilanz und Kassenposition verbessert, und diese Produktion Abbildung wird prognostiziert, um durch 2006, "kommentiertes Larry W. Youell, Präsident u. CEO im wesentlichen zu verbessern. Herr Youell fuhr, "mit unseren Öl- u. Gaswerten fort, die jetzt völlig finanziert wurden und sachverständig durch London gehandhabt waren, und unser erster gewinnenwert jetzt in der Produktion, sind wir überzeugt, daß 2006 liefern erheblichen Wert an unsere Aktionäre." Im Namen des Brettes von, FEC Betriebsmittel, Inc.. "Larry W. Youell" Präsident U. CEO Diese Freigabe enthält "das Vorwärts-Schauen von von Aussagen" wie pro Abschnitt 21E der US Aktien und der Austausch-Tat von 1934, wie geändert. Obgleich die Firma glaubt, daß die Erwartungen, die in solchen Vorwärts-schauenden Aussagen reflektiert werden, angemessen sind, kann sie keine Versicherung geben, daß solche Erwartungen beweisen, korrekt gewesen zu sein. Management wiederholt z.Z. viele Wahlen und es gibt keine Versicherung, daß sie die Entscheidungen nicht anders als die jetzt erwogen treffen. Die Firma ist abhängig von politischen Gefahren und funktionsfähigen den Gefahren, die in den Dokumenten gekennzeichnet werden, die mit der Sicherheiten und Austausch-Kommission, einschließlich das Ändern und die niedergedrückten Ölpreise geeinordnet werden, in den erfolglosen bohrenresultaten, im Regierungswechsel und in der politischen Ruhelosigkeit in seinem Hauptbereich von Betrieben Zu mehr Information treten Sie bitte mit Larry Youell an [phone] E-mail [e-mail] in Verbindung oder besichtigen Sie die FEC Betriebsmittelweb site an www.FECResources.com QUELLFEC Betriebsmittel Inc.. Larry Youell von FEC Resources Inc., [phone] oder [e-mail] http://www.prnewswire.com Copyright (c) Fotorezeptor 2005 Newswire. Alle Rechte vorbehalten.

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ab 2006 wird es erst recht interessant

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beste Resultate

28 November 2005





Forum Energy Plc (`Forum` or `the Company`)



Preliminary results for the six months to 30 September 2005





Forum Energy Plc, the UK-based energy group with a portfolio of oil, gas and coal assets in the Philippines, today announces its preliminary results for the six months to 30 September 2005.



Highlights of the year include:



Raised £3.4 million in a pre-IPO placement in May 2005
Admitted to AIM in August 2005 raising £11.0 million
First revenues from gas and coal developments in the Philippines expected in the first half of 2006
Completed 2D seismic survey in Tañon Straits, SC40
Completed 3D seismic survey over the Sampaguita Gas Field, GSEC101
Completed feasibility study for the Libertad Gas Field development, SC40


Commenting, David Robinson, Chief Executive, said:



“We are very pleased with the progress that Forum has made since its inception earlier this year, through the acquisition of the Philippine oil & gas and coal assets of Sterling Energy plc in the UK and FEC Resources Inc. in Canada. We look forward to many positive developments during the months ahead. “







For further information please contact:



David Robinson, Chief Executive, Forum Energy Plc: [phone]



Adam Westcott, Noble & Company Limited: [phone]



Ian Foster, First City Financial Public Relations: [phone]

[phone]







Or visit the Company’s website:



www.forumenergyplc.com





















Chairman’s Statement:



Dear Shareholder:



Since its establishment in April 2005 through the merger of the Philippine oil & gas and coal interests of FEC Resources Inc. of Canada and of Sterling Energy Plc of the UK, Forum Energy Plc has made considerable progress in advancing the exploration, appraisal and development of its portfolio of assets. It is the only AIM-listed international E&P company that is currently focused exclusively on the Philippines.



Financial

Forum recorded a loss of US$0.571 million for the interim period ended September 30, 2005. This loss was primarily attributable to expenses associated with the administration of the company in the period since formation whilst the IPO was being completed. .



The company successfully raised £3.4 million (pre-expenses) in a pre-IPO placement at 100p per share in May 2005, followed by an IPO placement of £11.0 million (pre-expenses) at 112p per share and admission to AIM in August 2005. Forum’s working capital position as of September 30, 2005, was US$16.4 million



The Board of Directors has approved the 2005 and 2006 capital and operating budgets for Forum, which include development of the Libertad Gas Field and the Central and Southern Cebu coal operating contracts (COCs), all of which are expected to become revenue generating during the first half of 2006.



General Survey and Exploration Contract 101 (GSEC101)

In August, Forum completed a key 3D seismic survey across the major Sampaguita gas discovery, offshore the Philippines. The survey was carried out over an area of 248 square kilometres by DGC Asia Pacific Ltd, part of Veritas. The data is currently being processed in the UK by Veritas, and is expected to be completed by the end of the first quarter of 2006. The processed data will be interpreted at Forum’s office in the Philippines.



Interpretation and analysis of the 3D seismic data will provide more information on the commercial potential of this highly promising discovery, and help identify the best location for a possible appraisal well which is targeted to be drilled over the next 18 months, subject to rig availability and, if deemed appropriate, finding a farm-in partner.



The Sampaguita Gas Field is located within license area GSEC 101 west of Palawan Island in the South China Sea; Forum holds 100% of this under-explored acreage, which covers 10,630 square kilometres and contains at least eight other undrilled prospects and leads besides Sampaguita.



Sampaguita lies 250 kilometres southwest of the world-class Malampaya Gas Field, where operator Shell has installed extensive production facilities and pipeline infrastructure that supplies gas to three Philippine power plants. Gas has already been tested from Sampaguita during the 1970s and 1980s. A recent independent assessment by petroleum consultants PGS Reservoir Ltd estimated that the field could contain potential recoverable gas reserves of up to 2.3 trillion cubic feet.



Service Contract 40 (SC40)

Forum completed an offshore 2D seismic acquisition programme in the Tañon Strait, west of Cebu Island within SC40, in June 2005. The data acquired is being processed by Spectrum Energy (UK), along with 1,000 kilometres of vintage 2D data from the region. The processed lines will be integrated with the reprocessed vintage lines and interpreted in-house in the Philippines. Interpretation is forecast to be completed during the second quarter of 2006.



The seismic survey, completed by the Veritas Searcher, acquired 310 kilometres of new 2D data in licence SC40, where Forum holds a 67% interest. Structures within the area covered by this survey, including the Central Tañon and Jibitnil Island prospects, have combined potential reserves of 350 million barrels of oil equivalent according to estimates by PGS Reservoir Ltd.



The new seismic lines have been acquired in order to improve the mapping of the Central Tañon and Jibitnil Island prospects. The seismic data will be tied to old wells such as Bangus and Anapog (for Central Tañon) and Bakyad (for Jibitnil Island) for better well-to-seismic correlation. The new seismic lines acquired between Jibitnil and Cebu Islands will help define more precisely the Jibitnil Island structure which is cut by several faults. In addition to seismic data, the survey included the acquisition of marine gravity and magnetic data, which is now being processed by Ark Geophysics Ltd (UK).



Elsewhere within SC40, first gas production is expected during the first half of 2006 from the onshore Libertad Gas Field, to supply a 2 MW gas-to-electricity project. The Philippine Department of Energy is expected to formally announce a Declaration of Commerciality for the Libertad Gas Field shortly after which development of the field will begin, subject to satisfactory commercial terms and approvals.



In 2003, a gas and oil discovery was made within SC40 at the northern tip of the island of Cebu, in the Maya region. Workover and testing of one of the discovery wells, F2X, is planned to begin in the first quarter of 2006, once the necessary materials have been delivered and the scheduled maintenance and refurbishment of the company’s 66.7%-owned Hycalog drilling rig has been completed.



The open-hole section within the F2X well will be cleaned out and a liner run to prepare the well for testing through a completion string. If the well flows oil, it will continue into an extended testing period. If it produces gas, it will be shut-in and considered for future production as a gas-to-electricity project, similar to the Libertad Gas Field development.



Coal Operating Contracts

Forum’s 66.7%-owned coal operating contracts (COCs) in Central and Southern Cebu, COC 131 and COC 132, are currently being appraised and developed in accordance with the company’s commitments to the Philippine Department of Energy. These commitments are due to be fulfilled during the first quarter of 2006, at which time commercial production is expected to begin. Some incidental production is likely to occur prior to that from the driving of shafts and other development activities.



CSA Group has produced a Coal Competent Person`s Report covering COC 131 and COC 132. Proven and probable coal reserves are estimated to be 1.4 million metric tonnes and 3.5 million metric tonnes respectively.



New Ventures

In May, Forum entered into an agreement with Basic Consolidated, Inc. in the Philippines whereby the parties agreed to work under an exclusivity period towards finalizing the purchase by Forum of Basic’s petroleum interests in the Philippines. The exclusivity period was subsequently extended to 31 January 2006 while Forum continues the technical due diligence of Basic’s petroleum interests.



This potential acquisition is consistent with the company’s strategy to consolidate its position in the country by acquiring further oil, gas and coal assets, and if successful, would add significant value to Forum’s portfolio. In this regard, the company is also in discussions with a number of other groups that own oil, gas and coal assets in the Philippines.



Additionally, in June 2005, Forum loaned $600,000 to MG Mining and Energy Corporation in the Philippines, as part of an option agreement to potentially acquire some or all of MG’s coal mining assets in the country. To date, Forum and MG have been unable to agree to the terms of an acquisition, and it is uncertain whether a transaction will ultimately be completed between the parties. The $600,000 loan plus interest is due and payable as of September 30, 2006 or earlier in certain circumstances, and security is provided by MG’s coal operating contract which is located next to Forum’s Southern Cebu COC.



Outlook

Forum Energy is well-positioned to move forward with the exploration, appraisal, and development of its existing portfolio of oil, gas and coal interests in the Philippines, as well as with the acquisition of additional interests in the country. The company is in a strong financial position, which should be further improved as first revenues from coal production and from the Libertad Gas Field begin as expected in the first half of 2006.



In addition to the start of production from Libertad and its coal operating contracts, Forum expects to be in a position to report to its shareholders on other significant developments in the coming months. These include the results of interpretation of the 3D seismic acquisition over the Sampaguita Gas Field and of the 2D seismic covering the Tañon Straits prospects off Cebu; the results of the workover and testing of the F2X well in the Maya region on Cebu; the possible acquisition of the petroleum interests of Basic, and other promising opportunities that are currently being evaluated and pursued.



We believe the future looks extremely positive for Forum and its shareholders.



Alan B. Henderson

Chairman



David R. Robinson

President and Chief Executive Officer

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We believe the future looks extremely positive for Forum and its shareholders.



Alan B. Henderson

Chairman



David R. Robinson

President and Chief Executive Officer

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jetzt auch in GOLD

NEWS von Stockwatch.com -
FECR mit goldigen Ambitionen !!!




FEC RESOURCES ORD
Symbol FECOF

Acquisition of Significant Interest in Gold Mining Project in the Philippines

2006-01-05 17:20 ET - News Release

CALGARY, Alberta, Jan. 5 /PRNewswire-FirstCall/ -- The following was released on behalf of the Board of FEC Resources Inc, by Larry W. Youell, President and CEO: FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) (" FECR" or " the company" ) is pleased to report the company has concluded an agreement to acquire a 40% interest in a mining project in the Philippines in partnership with Philex Gold, Inc. (TSX Venture: PGI) (" PGI" ).

The project concerned is the Mining and Production Sharing Agreement (" MPSA" ) between PGI and the Government of the Philippines, which is identified as MPSA #148-99-XIII (" MPSA148" ), comprising 2306 Hectares in the province of Surigao, Mindanao. The Company has been evaluating the project for some time in pursuance of the company`s stated objective of seeking world class mining projects on commercially attractive terms.

As part of the evaluation of this opportunity the company commissioned an independent geological and technical report from a firm of technical experts who are registered as Qualified Persons for reporting to the major Stock Exchanges in the United States, Canada and the United Kingdom.

The evaluation obtained by the company is for the Lascogon Gold Prospect which is contained within the 2306 Hectare acreage of MPSA148. The area is mainly comprised of limestones intercalated with mudstones, siltstones and shales and follows the main attitude of the Philippine Fault oriented northwest to southeast. Along this direction, numerous test pits have been dug through the sediments and samples of the sediments and the surface jasperoid boulders have been obtained. Assays reveal gold grades ranging from 1.0g/t to 64.0g/t, whilst assays on the mineralized sediments reveal grades consistent with Carlin-type deposits.

The company has acquired the interest in MPSA148 by way of assignment from Indexa Corp. to FECR of an Agreement between Indexa and PGI. Indexa is a Philippine corporation who had entered into a sole Agreement with PGI for the rights to a joint exploration program. Indexa has assigned its rights and obligations in their entirety to the company, pursuant to which a new Philippine Joint Venture Company is to be formed of which the company will initially own 40% and Philex Gold Inc. will own 60% equity interests respectively.

The commitments of the company in this regard are to provide an initial US$250,000 signature bonus to PGI and then for the company to contribute to the Joint Venture Company a total of US$1,000,000 from January 1st 2006 through to October 31st 2006 being estimated as sufficient funding to complete the planned exploration and prospect delineation work program on the 100 Hectare Lascogon Gold Prospect which is contained within the 2306 Hectare acreage of MPSA148.

Upon completion of the planned exploration program, the company has the option to increase its equity interest in the Joint Venture Company to 60% by arranging or contributing by way of repayable loan up to US$10,000,000 as the initial contribution to mine development and production by the Joint Venture Company.

To secure the rights to the project as described above the company has the sole right to appoint a qualified independent international firm of experts to evaluate the benefit of the assignment of the agreement between Indexa and PGI, such evaluation to be based on an arm`s length present value open market basis and which must be completed by March 31, 2006. Any consideration due to Indexa Corp. from FECR pursuant to the foregoing shall be settled by FECR within 30 days of receipt of said report being in the form of newly issued fully paid shares of FECR, cash or a combination of both.

Statement from Larry W. Youell, President & Chief Executive Officer

" In line with our objective of pursuing relatively low risk mining opportunities in the Philippines we are delighted to have been able to secure this substantial mining interest on commercially competitive terms in the face of intense competition from numerous other interested parties."

" The Lascogon Prospect is situated within a known, and established gold bearing and producing province, in an area with an existing infrastructure and locally available ore processing facilities. We are pleased to be working on this project with Philex Mining Corporation; a long established and publicly quoted leading mining company in the Philippines. Furthermore the technical and production expertise of Philex Mining Corporation will be made available to our joint venture company thus providing proven technical resources."

" We very much look forward to working on this new project, and further information will be released as soon as it is available."

This release contains " forward looking statements" as per Section 21E of the US Securities and Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Management is currently reviewing many options and there is no assurance that they will not make decisions other than those now contemplated. The Company is subject to political risks and operational risks identified in documents filed with the Securities and Exchange Commission, including changing and depressed oil prices, unsuccessful drilling results, change of government and political unrest in its main area of operations.

For more information please contact Larry Youell at 1-403-290-1676, e-mail [e-mail], or visit the FEC Resources website at www.FECResources.com.

SOURCE FEC Resources

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Forum Energy Boosts Reserves, Adds Production Offshore the Philippines
http://www.rigzone.com/news/article.asp?a_id=29505

Forum Energy has agreed to acquire Basic Petroleum and Mining Inc (BPMI), whose interests include several producing fields in the North West Palawan Basin.

The acquisition, which is subject to shareholder approval of BPMI`s parent company, Basic Consolidated Inc. (BCI), and Philippine government approval, will provide Forum with initial net production of approximately 40 barrels of oil per day (bopd), and varying interests in nine oil fields offering significant additional production and reserve potential.

Forum Chief Executive David Robinson said: " This acquisition creates an exceptional opportunity for us as we seek to grow our company and create maximum value for our shareholders. It will complement our already strong asset base in the Philippines, giving us immediate oil production with tremendous potential to increase it through improved production technology."

Under the terms of the agreement, Forum will pay US$5 million over the next 12 months in a combination of cash and shares (subject to hold periods) to acquire 100% of BPMI. Further cash payments of up to $2 million will become available if the acquired interests produce more than 5.4 million barrels of oil. BCI may also ultimately receive up to $10 million of cost recovery amounts that come with the interests, but not until Forum has recovered 100% of its invested capital.

The BPMI assets include interests in nine offshore fields as follows: Nido (8.47%), Matinloc and Pandan (12.41%), North Matinloc (19.46%), Libro (28.6%), Tara (10%), Bonita (7.03%), West Linapacan (9.1%), Galoc (8.17%) and a 27.7% interest in SC41 situated within the Sulu Sea and covering some 4,820 square km. SC41 is thought to have significant exploration potential.

Forum`s existing assets, focused entirely in the Philippines, include the highly promising Sampaguita gas discovery within the GSEC101 (Reed Bank) offshore license area, and the SC40 (Cebu) license with known onshore and offshore gas and oil discoveries, where the Libertad gas field was recently declared commercial. The company also holds two coal operating contracts on Cebu Island with estimated proven and probable reserves of 4.9 million tons.

[hainholz]

22.02.2006
Forum Energy Gets Cracking On Its Near Term Production Projects In The Philippines
When writing about Forum Energy last August, some three months after it floated on London’s Alternative Investment Market (AIM) raising £14.4 million, we said it had a mix of near production oil and gas with exploration upside in the following Philippine assets: SC40 (Cebu), GSEC 101 (Reed Bank) and two coal-operating contracts.

The near production has now come nearer with the announcement that the Libertad gas field on Cebu Island, in the middle of the Philippine Islands, within SC40, where Forum holds a 66.7 per cent interest, has been declared commercial.

Forum has anticipated that Libertad holds some 1.2 billion cubic feet of gas. The company believes that two or three wells are capable of producing up to 1.2 million cubic feet of gas a day individually. This is equivalent to around 200 barrels of oil a day from each well.

Forum is in discussions to utilise the gas for local electricity generation in line with the Philippine government directive to increase the use of natural gas. The project is expected to generate up to 2MW of electricity starting in the first half of 2006 following a US$2.5 million development project.

The Declaration of Commerciality for Libertad is the first within the Philippines since Shell’s Malampaya onshore gas field development, which came onstream in 2001. With the exception of Malampaya, the Philippines has never had big finds of hydrocarbons like its neighbours Indonesia and Malaysia. But with demand for electricity and energy soaring, the heavily populated Philippines is keen to encourage companies like Forum to exploit oil and gas even if it is found in small accumulations.

At the moment the country imports some 300,000 bpd of oil and 3.8 million tonnes of coal per year. David Robinson, CEO of Forum, says: “This is a real drain on their economy. The country has set out generous terms for oil and gas concerns to establish themselves. The Department of Energy is very helpful and accommodating. This is a good place to do business.”

The company’s second source of near term production is two coal-operating contracts on Cebu Island. These projects should be producing 3,000 tonnes of coal per month in 2006 rising to 9,000 tonnes in 2007. Again there is a ready market for the coal in the form of demand from utilities and mining companies. Forum reckons in 2006 there is likely to be a mining cost of US$25 a tonne and a sales price of at least US$45 a tonne.

Forum thus can look forward to some early cash flow and can think about its development and exploration opportunities. The SC40 licence covers several thousand hectares in the northern half of Cebu Island both onshore and offshore and Forum holds two thirds of it. Within the basin approximately 130 shallow wells have been drilled, with a number of oil and gas discoveries.

Apart from the Libertad field, there is the Tanon Straits prospect. This is currently being evaluated through a seismic acquisition and re-processing programme. The Philippines Department of Energy says the Tanon Straits structure could contain up to 1 billion barrels of oil and extensive gas reserves. Independent Petroleum Engineers have estimated the potential reserves of the prospect at 264 million barrels of oil or 660 bcf on a gas case scenario.

Forum also wants in 2006 to re-enter a well on the Maya prospect on the northern tip of Cebu Island and work it over before placing it on a long term testing. A well nearby tested at 217 million standard feet of gas per day and estimates indicate that the Maya field could have reserves of 2.8 million barrels of oil or 0.75 billion cubic feet of gas.

Having said that there seemed to be no big prospects on the horizon in the Philippines, Forum has a key asset in the Reed Bank licence, which covers a large offshore area to the west of Palawan Island. In 2005 Forum completed the acquisition of 100 per cent of GESC 101 (Reed Bank) from the UK’s Sterling Energy in exchange for Sterling having a 28.6 per cent interest in Forum (pre-fund raising). Reed Bank holds a number of prospects and leads, the most exciting and immediate of which is the Sampaguita gas discovery that could contain over 2.3 trillion cubic feet of gas reserves and is on trend with the giant producing Malampaya gas and oilfield 150 kms away.

This is not hot air. Three wells were drilled into the structure in the 1970s and found gas, although they were not tested at the time.

“We think there could be up to 8 tcf just within that structure, with upwards of 20 tcf in the wider area” David Robinson said. The company is currently assessing the prospect through a 3D seismic acquisition programme.

[hainholz]

Key acquisition gives Forum first production


Forum Energy plc, the AIM-quoted energy group with gas, oil and coal assets in the Philippines, has acquired interests in nine offshore oil fields and additional exploration prospects.

It has acquired the new assets through the takeover of Basic Petroleum and Mining Inc (BPMI, formerly held by Philippines-based Basic Consolidated Inc.

Forum Chief Executive David Robinson said: “This acquisition represents an exceptional opportunity for us to increase shareholder value. We are starting with around 40 barrels of output a day, but with considerable potential to boost production.”

The newly-acquired assets cover nine offshore fields west of the Philippines, comprising: Nido (8.47%), Matinloc and Pandan (12.41%), North Matinloc (19.46%), Libro (28.6%), Tara (10%), Bonita (7.03%), West Linapacan (9.1%), Galoc (2.28%) and a 27.7% interest in SC41 situated within the Sulu Sea and covering some 4,820 square km, an area with proven hydrocarbon potential. Project work will be managed by Forum’s team in Manila.

The Nido and Matinloc fields have been producing since the early 1980s in 40 metres of water, achieving peak production of 50,000 barrels per day (b/d) together and currently producing about 1,000 b/d. Remaining proved and probable reserves in the two fields, and nearby Galoc (currently under development), have been independently estimated at more than 8.6 million barrels, with considerable upside potential both in these fields and the others where interests have now been acquired.

Forum will pay US$5 million over the next 12 months in a combination of cash and shares to acquire 100% of BPMI. Further cash payments of up to $2 million will become available if the acquired interests produce more than 5.4 million barrels of oil. BCI may also progressively receive cost recovery of up to $10 million, but not until Forum has recovered 100% of its invested capital.

Forum’s existing assets, all in the Philippines, include the highly promising Sampaguita gas discovery within the GSEC101 (Reed Bank) offshore licence area, and the SC40 (Cebu) licence with known onshore and offshore gas and oil discoveries, where the Libertad gas field was recently declared commercial. Forum also holds two coal operating contracts on Cebu Island with estimated proven and probable reserves of 4.9 million tonnes.

For further information, contact:
David Robinson, Chief Executive, Forum Energy plc: [phone]
Adam Westcott, Noble & Company Ltd: [phone]
Ian Foster, First City Financial Public Relations: [phone] or [phone]

Full Stock Exchange announcement follows:
Completion of Acquisition and Issue of Equity

Forum Energy Plc (‘Forum’ or ‘the Company’), the AIM quoted oil, gas and coal company with assets in the Philippines, is pleased to announce that all the conditions relating to its acquisition of Basic Petroleum and Minerals Inc (‘BPMI’), the wholly-owned subsidiary of Basic Consolidated, Inc. (‘BCI’), have been met.

On 30 March 2006 the Department of Energy of the Government of the Philippines approved the assignment of the participating interests of BCI to its subsidiary BPMI, this being the final condition relating to Forum’s acquisition of BPMI. As announced on 29 March 2006, the shareholders of BCI have previously approved the acquisition by Forum of BPMI.

The acquisition of the entire issued share capital of BPMI, in exchange for a mixture of cash and ordinary shares in Forum, can now be completed.

This acquisition will provide Forum with initial net production of approximately 40 barrels of oil per day, and varying interests in nine oil fields offering additional production and reserve potential.

The terms of the agreement are set out in the announcement made by Forum on 15 February 2006 and can be summarised as follows:


Forum will pay US$5 million to BCI over the next 12 months, made up of US$2.2 million in cash payments and the issue of 1,333,759 new ordinary shares of 10p in Forum (equating to US$2.8 million);
Further cash payments to BCI of up to US$2 million will be made if the acquired interests produce more than 5.4 million barrels of oil; and
BCI, the current owner of BPMI, may also ultimately receive up to US$10 million of cost recovery amounts that are associated with the interests, but not until after Forum has recovered 100% of its invested capital.

As part of the consideration for the acquisition, the Company is required to issue a total of 1,333,759 new ordinary shares of 10p in the Company to BCI. These shares are subject to lock-in arrangements as follows:


1,047,953 new ordinary shares of Forum issued to BCI will be subject to a 12 month holding period from 3 April 2006;
285,806 new ordinary shares of Forum issued to BCI will be subject to an 18 month holding period from 3 April 2006, subject to the conditions of certain service contracts.

The new ordinary shares were allotted on 3 April 2006 and application has been made for the admission of the new ordinary shares to trading on AIM. Dealings are expected to commence in the new ordinary shares on 10 April 2006.

Following the admission of the new ordinary shares to AIM on 10 April 2006, BCI will be interested in a total of 1,333,759 ordinary shares of 10p each in the Company, representing 4.67% of the issued share capital of the Company.

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[hainholz]

Antwort auf Beitrag Nr.: 15.761.946 von MCGabriel am 09.02.05 11:26:33

July 20 2006
Coal production commences as part of accelerated development program


Forum Energy plc, the AIM-quoted energy group operating in the Philippines, is pleased to announce the start of production from its Naga coal mine operations in Central Cebu.

First sales are targeted for August and a further four shafts at Naga are planned to raise production to circa 300,000 tonnes a year by the end of 2008.

Newly-appointed Forum Chief Executive Russell Harvey commented:

“The commencement of coal production represents a major step forward in providing early cash flow. The coal development has been accelerated to take advantage of the infrastructure which has already been put in place. This will maximise value to shareholders and at today’s prices the predicted revenues from Naga based upon conservative production figures, will yield approximately US$12m per year by the end of 2008. A similar development programme at Dalaguete, our Southern Cebu coal contract, is planned for 2007. This is also anticipated to generate comparable revenues at peak production”

“We see this initial development of our reserves as the start of a continuing revenue generating operation. With this in mind Forum has already applied for two additional coal production licences in the Naga area”

For further information, contact:
Russell Harvey, Chief Executive, Forum Energy plc: [phone]
Mark Froggatt, Noble & Company Ltd: [phone]
Ian Foster, First City Financial Public Relations: [phone] or [phone]

[hainholz]

jetzt ist die NEWS auch in den USA raus

und schon kommt Bewegung rein



This will maximise value to shareholders