.........Rebound bei FEC Resources......oder kommen die Chinesen !?!? - 500 Beiträge pro Seite
eröffnet am 11.05.07 18:39:49 von
neuester Beitrag 20.11.18 13:30:30 von
neuester Beitrag 20.11.18 13:30:30 von
Beiträge: 704
ID: 1.127.255
ID: 1.127.255
Aufrufe heute: 0
Gesamt: 97.435
Gesamt: 97.435
Aktive User: 0
ISIN: CA30246X1087 · WKN: A0ERXT · Symbol: FECOF
0,0020
USD
+17,65 %
+0,0003 USD
Letzter Kurs 09.05.24 Nasdaq OTC
Werte aus der Branche Öl/Gas
Wertpapier | Kurs | Perf. % |
---|---|---|
4,8050 | +39,52 | |
1,2760 | +37,95 | |
1,1500 | +27,78 | |
1,0400 | +18,18 | |
8,2500 | +16,36 |
Wertpapier | Kurs | Perf. % |
---|---|---|
2,4000 | -9,43 | |
2,0500 | -9,69 | |
850,20 | -12,51 | |
11,790 | -12,67 | |
1,5900 | -16,97 |
akt. mit usd 0,029......schon ÜBER 50 % PLUS
Antwort auf Beitrag Nr.: 29.274.030 von hbg55 am 11.05.07 18:39:49hallo hbg55
bin auf die Jährliche allgemeine Sondersitzung am 22. juni gespannt
Folgende Antwort bezieht sich auf Beitrag Nr.: 28970321 von exelent am 24.04.07 14:14:05so geht es weiter, mit einer aktionärsversammlung
April 20, 2007
Dear Sirs: All applicable Exchanges and Commissions
Subject: FEC RESOURCES INC.
We advise the following with respect to the upcoming Meeting of Shareholders for the subject
Corporation:
1. Meeting Type : Annual General and Special Meeting
2. CUSIP/Class of Security entitled to receive notification : 30246X108/CA30246X1087/COMMON
3. CUSIP/Class of Security entitled to vote : 30246X108/CA30246X1087/COMMON
4. Record Date for Notice : 18 May 2007
5. Record date for Voting : 18 May 2007
6. Beneficial Ownership determination date : 18 May 2007
7. Meeting Date : 22 Jun 2007
8. Meeting Location : Calgary, AB
Sincerely,
“Brian Kim”
Meeting Specialist
Client Services Department
Tel: 604.661.9400 Ext 4139
Fax: 604.661.9401
bin auf die Jährliche allgemeine Sondersitzung am 22. juni gespannt
Folgende Antwort bezieht sich auf Beitrag Nr.: 28970321 von exelent am 24.04.07 14:14:05so geht es weiter, mit einer aktionärsversammlung
April 20, 2007
Dear Sirs: All applicable Exchanges and Commissions
Subject: FEC RESOURCES INC.
We advise the following with respect to the upcoming Meeting of Shareholders for the subject
Corporation:
1. Meeting Type : Annual General and Special Meeting
2. CUSIP/Class of Security entitled to receive notification : 30246X108/CA30246X1087/COMMON
3. CUSIP/Class of Security entitled to vote : 30246X108/CA30246X1087/COMMON
4. Record Date for Notice : 18 May 2007
5. Record date for Voting : 18 May 2007
6. Beneficial Ownership determination date : 18 May 2007
7. Meeting Date : 22 Jun 2007
8. Meeting Location : Calgary, AB
Sincerely,
“Brian Kim”
Meeting Specialist
Client Services Department
Tel: 604.661.9400 Ext 4139
Fax: 604.661.9401
geiles Volumen da geht was
Antwort auf Beitrag Nr.: 29.274.443 von SGDfigther am 11.05.07 19:02:33das ist bei fec normal, wenn da mehr volumen reinkommt
dann sind wir wieder 170% im plus
dann sind wir wieder 170% im plus
Antwort auf Beitrag Nr.: 29.274.030 von hbg55 am 11.05.07 18:39:49nanünana
Antwort auf Beitrag Nr.: 29.275.074 von schneebe am 11.05.07 19:39:39
....da dann haben wir ja noch abissl platz !!!
....da dann haben wir ja noch abissl platz !!!
Ah, endlich gibt es wieder einen Thread zu FEC. Die alten sind ja seit der wo-Umstellung verschwunden.
Auf daß wir bald mal den 1 € sehen!
Gruß
V v A
Auf daß wir bald mal den 1 € sehen!
Gruß
V v A
Antwort auf Beitrag Nr.: 29.275.163 von VolkervonAlzey am 11.05.07 19:45:32
...denke, in USA gibts noch schöne
nachkauf- chancen !!!
...denke, in USA gibts noch schöne
nachkauf- chancen !!!
Antwort auf Beitrag Nr.: 29.274.443 von SGDfigther am 11.05.07 19:02:33
....richtig.......und DAS sollte man nach solch
langer durststrecke auch mal dokumentieren........
Uhrzeit Kurs letztes Volumen kumuliert
20:07:04 0,027 50.000 469.070
19:41:40 0,025 10.035 419.070
19:41:14 0,024 10.035 409.035
18:13:53 0,029 17.500 399.000
18:13:49 0,029 20.000 381.500
18:10:49 0,027 10.000 361.500
18:10:34 0,027 2.500 351.500
17:45:59 0,027 45.000 349.000
17:42:19 0,027 10.000 304.000
17:42:08 0,027 5.000 294.000
17:40:30 0,027 50.000 289.000
16:55:39 0,025 19.500 239.000
16:55:39 0,025 19.500 219.500
16:55:33 0,025 83.000 200.000
16:55:04 0,025 17.000 117.000
16:34:00 0,025 12.500 100.000
16:33:38 0,025 12.500 87.500
16:33:18 0,025 47.500 75.000
16:30:24 0,025 0 27.500
16:30:24 0,025 27.500 27.500
....richtig.......und DAS sollte man nach solch
langer durststrecke auch mal dokumentieren........
Uhrzeit Kurs letztes Volumen kumuliert
20:07:04 0,027 50.000 469.070
19:41:40 0,025 10.035 419.070
19:41:14 0,024 10.035 409.035
18:13:53 0,029 17.500 399.000
18:13:49 0,029 20.000 381.500
18:10:49 0,027 10.000 361.500
18:10:34 0,027 2.500 351.500
17:45:59 0,027 45.000 349.000
17:42:19 0,027 10.000 304.000
17:42:08 0,027 5.000 294.000
17:40:30 0,027 50.000 289.000
16:55:39 0,025 19.500 239.000
16:55:39 0,025 19.500 219.500
16:55:33 0,025 83.000 200.000
16:55:04 0,025 17.000 117.000
16:34:00 0,025 12.500 100.000
16:33:38 0,025 12.500 87.500
16:33:18 0,025 47.500 75.000
16:30:24 0,025 0 27.500
16:30:24 0,025 27.500 27.500
Antwort auf Beitrag Nr.: 29.275.851 von hbg55 am 11.05.07 20:33:12denke mal, Mo/ Di Könnten News anliegen !!
Antwort auf Beitrag Nr.: 29.287.718 von hainholz am 13.05.07 00:29:59
,,,DAS wäre ne erklärung für den furiosen fryday !!!
,,,DAS wäre ne erklärung für den furiosen fryday !!!
Antwort auf Beitrag Nr.: 29.293.743 von hbg55 am 13.05.07 19:06:30wär ja mal gut,wenn die Woche furios weiter geht
Antwort auf Beitrag Nr.: 29.294.441 von hainholz am 13.05.07 21:16:49
wäre schön, wenn sich FECOF ein beispiel an
NIA nehmen würde
wäre schön, wenn sich FECOF ein beispiel an
NIA nehmen würde
Antwort auf Beitrag Nr.: 29.294.441 von hainholz am 13.05.07 21:16:49bis zum 18.05 könnte noch einiges passieren
Record Date for Notice : 18 May 2007
Record date for Voting : 18 May 2007
Beneficial Ownership determination date : 18 May 2007
Meeting Date : 22 Jun 2007
Meeting Location : Calgary, AB
Record Date for Notice : 18 May 2007
Record date for Voting : 18 May 2007
Beneficial Ownership determination date : 18 May 2007
Meeting Date : 22 Jun 2007
Meeting Location : Calgary, AB
bin gespannt wie es heute weitergeht
Antwort auf Beitrag Nr.: 29.297.696 von schneebe am 14.05.07 10:25:55
.........angesichts dieser dates hat ein
investor in FFM wohl abissl den überblick
verloren und mit 0,03 50k weit ÜBER pari
geordert !!!
.........angesichts dieser dates hat ein
investor in FFM wohl abissl den überblick
verloren und mit 0,03 50k weit ÜBER pari
geordert !!!
Antwort auf Beitrag Nr.: 29.305.584 von hbg55 am 14.05.07 18:19:41oder er weiß was !!!!
Antwort auf Beitrag Nr.: 29.306.810 von hainholz am 14.05.07 19:22:59der 0,029 Deckel muß weg
Update
FEC Provides Update on Annual Filings for Canada
5/15/2007
CALGARY, Alberta, May 15, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
The following was released on behalf of the Board of FEC Resources Inc., by Larry W. Youell, President and CEO:
On April 25, 2007 FEC RESOURCES INC. (OTC Bulletin Board: FECOF) ("FEC" or "the company") issued a press release detailing that it expected the filing of its audited year end financial statements to be delayed. As stated, one of the companies in which FEC holds a significant interest would not be in a position to release their own financial statements until after FEC's required deadline. The company in question has now advised their financial statements will be available even later than originally anticipated. This will result in us not being able to file until sometime in June.
FEC Resources Inc. holds a diverse portfolio of Oil, Gas, Coal, Gold and Iron Ore assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com.
On behalf of the Board of, FEC Resources Inc. "Larry W. Youell" Larry W. Youell President and CEO
FEC Provides Update on Annual Filings for Canada
5/15/2007
CALGARY, Alberta, May 15, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
The following was released on behalf of the Board of FEC Resources Inc., by Larry W. Youell, President and CEO:
On April 25, 2007 FEC RESOURCES INC. (OTC Bulletin Board: FECOF) ("FEC" or "the company") issued a press release detailing that it expected the filing of its audited year end financial statements to be delayed. As stated, one of the companies in which FEC holds a significant interest would not be in a position to release their own financial statements until after FEC's required deadline. The company in question has now advised their financial statements will be available even later than originally anticipated. This will result in us not being able to file until sometime in June.
FEC Resources Inc. holds a diverse portfolio of Oil, Gas, Coal, Gold and Iron Ore assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com.
On behalf of the Board of, FEC Resources Inc. "Larry W. Youell" Larry W. Youell President and CEO
May 16, 2007
Dear Sirs: All applicable Exchanges and Commissions
Subject: FEC RESOURCES INC. (AMENDED)
We advise the following with respect to the upcoming Meeting of Shareholders for the subject
Corporation:
1. Meeting Type : Annual General and Special Meeting
2. CUSIP/Class of Security entitled to receive notification : 30246X108/CA30246X1087/COMMON
3. CUSIP/Class of Security entitled to vote : 30246X108/CA30246X1087/COMMON
4. Record Date for Notice : 15 Jun 2007 (AMENDED)
5. Record date for Voting : 15 Jun 2007 (AMENDED)
6. Beneficial Ownership determination date : 15 Jun 2007 (AMENDED)
7. Meeting Date : 25 Jul 2007 (AMENDED)
8. Meeting Location : Calgary, AB
Sincerely,
“Brian Kim”
Meeting Specialist
Client Services Department
Tel: 604.661.9400 Ext 4139
Fax: 604.661.9401
Dear Sirs: All applicable Exchanges and Commissions
Subject: FEC RESOURCES INC. (AMENDED)
We advise the following with respect to the upcoming Meeting of Shareholders for the subject
Corporation:
1. Meeting Type : Annual General and Special Meeting
2. CUSIP/Class of Security entitled to receive notification : 30246X108/CA30246X1087/COMMON
3. CUSIP/Class of Security entitled to vote : 30246X108/CA30246X1087/COMMON
4. Record Date for Notice : 15 Jun 2007 (AMENDED)
5. Record date for Voting : 15 Jun 2007 (AMENDED)
6. Beneficial Ownership determination date : 15 Jun 2007 (AMENDED)
7. Meeting Date : 25 Jul 2007 (AMENDED)
8. Meeting Location : Calgary, AB
Sincerely,
“Brian Kim”
Meeting Specialist
Client Services Department
Tel: 604.661.9400 Ext 4139
Fax: 604.661.9401
Antwort auf Beitrag Nr.: 29.360.071 von schneebe am 17.05.07 17:20:19Hier liegt was in der Luft
Antwort auf Beitrag Nr.: 29.436.880 von hainholz am 23.05.07 16:09:54hoffen wir es
wird immer spannender, dieses jahr wird es endlich mal was mit unser fec, da bin ich mir sicher.
bei der hv wird es hoffentlich was neues geben, natürlich positiv.
zitat von larry w. youell "2007 wird das jahr für die aktionäre"
schneebe
wird immer spannender, dieses jahr wird es endlich mal was mit unser fec, da bin ich mir sicher.
bei der hv wird es hoffentlich was neues geben, natürlich positiv.
zitat von larry w. youell "2007 wird das jahr für die aktionäre"
schneebe
Antwort auf Beitrag Nr.: 29.440.083 von schneebe am 23.05.07 18:44:41
Endlich der Deckel bei 0,029 weg
ich glaube man positioniert sich
Endlich der Deckel bei 0,029 weg
ich glaube man positioniert sich
jetzt legen sie aber los
1:03 PM ET
0.0370
+0.0070 (+23.33%)
1:03 PM ET
0.0370
+0.0070 (+23.33%)
Antwort auf Beitrag Nr.: 29.440.503 von hainholz am 23.05.07 19:08:38wenn es mal bleiben würde, morgen wahrscheinlich wieder im minus
Antwort auf Beitrag Nr.: 29.440.812 von schneebe am 23.05.07 19:26:41wir müssen mal wieder anfangen positiv zu denken.
Mit entsprechenden News könnten wir ruckzuck wieder die 0,08 bis 0,10 sehen.
Mit entsprechenden News könnten wir ruckzuck wieder die 0,08 bis 0,10 sehen.
Antwort auf Beitrag Nr.: 29.440.893 von hainholz am 23.05.07 19:31:03oh,ja da ist was im Gange
1:03 PM ET
0.0399
+0.0100 (+33.33%)
1:03 PM ET
0.0399
+0.0100 (+33.33%)
Antwort auf Beitrag Nr.: 29.440.893 von hainholz am 23.05.07 19:31:03ich denke schon 4 jahre positiv hat halt nichts gebracht
aber es wird schon
aber es wird schon
Antwort auf Beitrag Nr.: 29.441.337 von schneebe am 23.05.07 19:56:04zitat von larry w. youell "2007 wird das jahr für die aktionäre
und jetzt kommen bald die fetten 4 Jahre
und jetzt kommen bald die fetten 4 Jahre
......auchs vol. gaaanz ordentlich.......bleibt
zu hoffen, daß wir den schwung bis WE halten
dann scheint pfingsten doch gleich im besseren lichte !!!
zu hoffen, daß wir den schwung bis WE halten
dann scheint pfingsten doch gleich im besseren lichte !!!
Antwort auf Beitrag Nr.: 29.441.402 von hainholz am 23.05.07 19:59:56
.....und bei FECOF heißts BUY in may and go away -
abissl träumen darf man ja davon !!!
.....und bei FECOF heißts BUY in may and go away -
abissl träumen darf man ja davon !!!
Antwort auf Beitrag Nr.: 29.306.988 von hainholz am 14.05.07 19:28:08
.......wars das mit DEM DECKEL bei 0,029
Times & Sales
Uhrzeit Kurs Volumen
letztes kumuliert
20:12:59 0,035 75.000 231.220
19:03:36 0,037 10.520 156.220
19:03:24 0,04 5.000 145.700
19:03:00 0,037 5.000 140.700
18:19:56 0,035 2.000 135.700
18:19:40 0,035 5.000 133.700
18:19:29 0,035 10.000 128.700
18:00:03 0,034 50.500 118.700
.......wars das mit DEM DECKEL bei 0,029
Times & Sales
Uhrzeit Kurs Volumen
letztes kumuliert
20:12:59 0,035 75.000 231.220
19:03:36 0,037 10.520 156.220
19:03:24 0,04 5.000 145.700
19:03:00 0,037 5.000 140.700
18:19:56 0,035 2.000 135.700
18:19:40 0,035 5.000 133.700
18:19:29 0,035 10.000 128.700
18:00:03 0,034 50.500 118.700
auf Tageshoch geschlossen
Antwort auf Beitrag Nr.: 29.443.720 von hainholz am 23.05.07 22:40:49leider nicht, oder??? hat doch bei 0,035 $ geschlossen
tageshoch war 0,037 $
tageshoch war 0,037 $
Antwort auf Beitrag Nr.: 29.442.032 von hbg55 am 23.05.07 20:40:31
...........wenn 2 sich streiten, freut sich der....
..sag mal TH war usd 0,04
...........wenn 2 sich streiten, freut sich der....
..sag mal TH war usd 0,04
Antwort auf Beitrag Nr.: 29.444.119 von hbg55 am 23.05.07 23:20:52der chart spinnt heute wieder mal, das mit den 0,04 stimmt leider nicht, tageshoch war 0,037
wünsche euch eine gute nacht, hoffen wir das es morgen so weiter geht
Antwort auf Beitrag Nr.: 29.444.190 von schneebe am 23.05.07 23:30:36oh 19:03:24 0,04 5.000 145.700 oder doch
kurios,gestern recht gutes Volumen und heute 0
sind die vielleicht vom Handel ausgesetzt?
sind die vielleicht vom Handel ausgesetzt?
folgendes könnte für uns interessant sein
that could be indirectly good news for FEP/FECOF
BEIJING (XFN-ASIA) - Xinao Group, the parent of Hong Kong-listed Xinao Gas Holdings Ltd, is in talks with firms in Australia, the Philippines and Saudi Arabia to import natural gas, a company official said.
'We are negotiating with companies in these countries. Deals are expected to be concluded by year-end,' assistant to the chairman Zou Benzhen told XFN-Asia on the sidelines of an industry conference.
He did not provide further details.
The Ministry of Commerce granted approval in June to Xinao Energy Trading Co Ltd, a unit of China Xinao Group, to import and export natural gas.
The Xinao unit is the first privately-owned company to receive such a license, previously restricted to state-owned companies.
China Xinao Group is a major natural and liquefied petroleum gas provider in 60 Chinese cities.
lilian.wu@xfn.com
kelly.zang@xfn.com
that could be indirectly good news for FEP/FECOF
BEIJING (XFN-ASIA) - Xinao Group, the parent of Hong Kong-listed Xinao Gas Holdings Ltd, is in talks with firms in Australia, the Philippines and Saudi Arabia to import natural gas, a company official said.
'We are negotiating with companies in these countries. Deals are expected to be concluded by year-end,' assistant to the chairman Zou Benzhen told XFN-Asia on the sidelines of an industry conference.
He did not provide further details.
The Ministry of Commerce granted approval in June to Xinao Energy Trading Co Ltd, a unit of China Xinao Group, to import and export natural gas.
The Xinao unit is the first privately-owned company to receive such a license, previously restricted to state-owned companies.
China Xinao Group is a major natural and liquefied petroleum gas provider in 60 Chinese cities.
lilian.wu@xfn.com
kelly.zang@xfn.com
Antwort auf Beitrag Nr.: 29.466.883 von hainholz am 25.05.07 14:39:15
........in die richtung gehen auch meine spekulationen !!!
angesichts der riesen- steps von CHINA, sehen DIE
sich massiv nach neuen rec. um und denke mal, daß
die geogr. nähe im fall der FECOF- proj. hier sehr von
vorteil wird sein können.
........in die richtung gehen auch meine spekulationen !!!
angesichts der riesen- steps von CHINA, sehen DIE
sich massiv nach neuen rec. um und denke mal, daß
die geogr. nähe im fall der FECOF- proj. hier sehr von
vorteil wird sein können.
vielleicht gibt es dazu schon was auf der hv zu berichten
Antwort auf Beitrag Nr.: 29.471.636 von schneebe am 25.05.07 19:10:50das wär natürlich was
Antwort auf Beitrag Nr.: 29.472.761 von hainholz am 25.05.07 20:43:50
.....na DAS gefällt mir ja heute - sollte vielleicht
doch mal öfter OFF- line sein
Times & Sales
Uhrzeit Kurs letztes Volumen kumuliert
19:59:10 0,04 30.000 401.600
19:59:06 0,04 5.000 371.600
19:59:00 0,04 5.000 366.600
19:58:51 0,04 10.000 361.600
19:58:47 0,04 10.000 351.600
19:58:45 0,04 5.000 341.600
19:54:24 0,04 30.000 336.600
19:49:39 0,04 30.000 306.600
19:41:19 0,04 30.000 276.600
16:26:20 0,03 600 246.600
16:26:12 0,03 26.000 246.000
16:11:17 0,03 100.000 220.000
15:58:09 0,03 60.000 120.000
15:56:03 0,03 10.000 60.000
15:54:11 0,03 20.000 50.000
15:51:27 0,03 5.000 30.000
15:51:24 0,03 0 25.000
15:51:24 0,03 25.000 25.000
.........gibts dazu auch noch ne NEWS ????????
Antwort auf Beitrag Nr.: 29.563.303 von hbg55 am 31.05.07 20:23:41noch ist keine news veröffentlicht worden.
aber die hv kommt immer näher, vielleicht kommt ja dann mal was,
dass den kurs lang haltig nach oben zieht.
larry schrieb ja 2007 wird das jahr für die aktionäre
aber die hv kommt immer näher, vielleicht kommt ja dann mal was,
dass den kurs lang haltig nach oben zieht.
larry schrieb ja 2007 wird das jahr für die aktionäre
Antwort auf Beitrag Nr.: 29.564.141 von schneebe am 31.05.07 21:20:23selbst die Ami´s werden munter.....man darf gespannt sein was es zu vermelden gibt.
Antwort auf Beitrag Nr.: 29.567.253 von exelent am 01.06.07 08:44:37
moin ALL
........dann wolln wir mal schauen,
inwieweit der gestrige handelsverlauf in USA
auch auf die GER´s abgefärbt hat ......abissl
mehr als ZERO- vol. wäre ja mal wieder angebracht
moin ALL
........dann wolln wir mal schauen,
inwieweit der gestrige handelsverlauf in USA
auch auf die GER´s abgefärbt hat ......abissl
mehr als ZERO- vol. wäre ja mal wieder angebracht
Antwort auf Beitrag Nr.: 29.567.630 von hbg55 am 01.06.07 09:10:36dazu müßten die Posaunen von Jericho erklingen ,
damit in Schnarchland sich etwas bewegt.
damit in Schnarchland sich etwas bewegt.
Antwort auf Beitrag Nr.: 29.571.284 von exelent am 01.06.07 12:16:58
......na DRÜBEN geht ja bislang auch NIXXXXXXXXX
......na DRÜBEN geht ja bislang auch NIXXXXXXXXX
Antwort auf Beitrag Nr.: 29.564.141 von schneebe am 31.05.07 21:20:23das halbe Jahr ist nun bald gelaufen,bezüglich Larry seiner Aussage.
Aber alles in allem sind die Aussichten doch nun wirkich nicht schlecht.
Einnahmen bereits durch die Kohleabteilung !!
Die Goldabteilung sollte auch bald was positives berichten.
Öl und Gas hat das gewaltigste Potenzial.
also dann schauen wir mal,ob Larry sein Versprechen einhält.
Aber alles in allem sind die Aussichten doch nun wirkich nicht schlecht.
Einnahmen bereits durch die Kohleabteilung !!
Die Goldabteilung sollte auch bald was positives berichten.
Öl und Gas hat das gewaltigste Potenzial.
also dann schauen wir mal,ob Larry sein Versprechen einhält.
Antwort auf Beitrag Nr.: 29.620.438 von hainholz am 03.06.07 22:46:34hoffen wir es.
jetzt heißt es erst mal abwarten, was es auf der hv zu berichten gibt.
jetzt heißt es erst mal abwarten, was es auf der hv zu berichten gibt.
Antwort auf Beitrag Nr.: 29.623.132 von schneebe am 04.06.07 04:54:45ein paar News vorher wären auch nicht zu verachten
hi hi hi
hoch auf 0,045 in USA
hoch auf 0,045 in USA
Antwort auf Beitrag Nr.: 29.633.235 von hainholz am 04.06.07 17:59:13tageshoch 0,05 und mit 1000 st auf 0,03 und auf diesem niveau
geschlossen - 25 %
geschlossen - 25 %
......und HEUTE mal wieder ZERO vol. !?!?!
naja, kann ja nicht jeder tag sooooooo starten
wie der gestrige
naja, kann ja nicht jeder tag sooooooo starten
wie der gestrige
0.04000
+ 0.01 33.33%
wieder ein Anlauf Richtung Norden
+ 0.01 33.33%
wieder ein Anlauf Richtung Norden
endlich mal hat die 0,04 gehalten
Antwort auf Beitrag Nr.: 29.674.458 von hainholz am 06.06.07 22:21:09fragt sich nur für wie lange
auch kurios
bid 0,03 Ask 0,035 Price 0,04
bid 0,03 Ask 0,035 Price 0,04
Antwort auf Beitrag Nr.: 29.691.102 von hainholz am 07.06.07 18:24:28Hallo hainholz
wann soll der angekündigte Termin
zwecks veröffentlichung der News Letter sein ?
war das nicht so eine "Gummiaussage " irgendwann im Sommer?
oder so...........?
wann soll der angekündigte Termin
zwecks veröffentlichung der News Letter sein ?
war das nicht so eine "Gummiaussage " irgendwann im Sommer?
oder so...........?
Hi
hab Gestern mal den Kursverlauf genau beobachtet in USA
Das grenzt ja schon an verar...
erst mit großen Orders hoch auf 0,04 dann mit Miniorder am Ende runter auf 0,03
das sind unschöne Spielchen
hab Gestern mal den Kursverlauf genau beobachtet in USA
Das grenzt ja schon an verar...
erst mit großen Orders hoch auf 0,04 dann mit Miniorder am Ende runter auf 0,03
das sind unschöne Spielchen
Hi Schneebe
kannst du nicht mal ne Mail an Larry schicken,was diese Manipulationen bedeuten?
ich bin des englischen nicht so mächtig
kannst du nicht mal ne Mail an Larry schicken,was diese Manipulationen bedeuten?
ich bin des englischen nicht so mächtig
Antwort auf Beitrag Nr.: 29.897.626 von hainholz am 14.06.07 19:06:03hab larry eine mail geschrieben, schreibe dann die antwort ihr rein
Antwort auf Beitrag Nr.: 29.903.325 von schneebe am 14.06.07 22:03:11heute war der Verlauf auch wieder sehr kurios !!
Danke erstmal
Danke erstmal
Antwort auf Beitrag Nr.: 29.903.456 von hainholz am 14.06.07 22:06:04
.........DAS kann man wohl sagen - mal schauen,
welch erklärung LARRY dafür hat !!!
Times & Sales
Uhrzeit Kurs letztes Volumen kumuliert
19:49:35 0,03 15.000 347.900
19:48:03 0,035 10.000 332.900
19:47:51 0,035 2.000 322.900
18:38:27 0,0212 900 320.900
18:27:33 0,03 5.000 320.000
16:18:19 0,035 5.000 315.000
16:09:51 0,03 25.000 310.000
16:09:27 0,035 10.000 285.000
16:06:23 0,03 100.000 275.000
15:43:14 0,035 65.000 175.000
15:32:30 0,035 10.000 110.000
15:30:21 0,035 0 100.000
15:30:21 0,035 100.000 100.000
.........DAS kann man wohl sagen - mal schauen,
welch erklärung LARRY dafür hat !!!
Times & Sales
Uhrzeit Kurs letztes Volumen kumuliert
19:49:35 0,03 15.000 347.900
19:48:03 0,035 10.000 332.900
19:47:51 0,035 2.000 322.900
18:38:27 0,0212 900 320.900
18:27:33 0,03 5.000 320.000
16:18:19 0,035 5.000 315.000
16:09:51 0,03 25.000 310.000
16:09:27 0,035 10.000 285.000
16:06:23 0,03 100.000 275.000
15:43:14 0,035 65.000 175.000
15:32:30 0,035 10.000 110.000
15:30:21 0,035 0 100.000
15:30:21 0,035 100.000 100.000
Antwort auf Beitrag Nr.: 29.897.626 von hainholz am 14.06.07 19:06:03hallo zusammen,
habe larry wegen den kurs manipulationen geschrieben,
und was wir von der hv erwarten können.
die antwort
natürlich hat er von den manipulationen kein wort geschrieben:
Hi Oliver
On june 18 Forum Energy (we own 30%)is making an announcement, but I don't think they will be able to say they finally have the long awaited service contract. So we have to wait a little longer for them. On the gols we are still drilling and awaiting assays. Only then can we hopefuuly make a positive announcement, and get the stock price up.
Best regards Larry
hoffen wir, das auf der hv über die proben der bohrung in gols
berichtet wird.
schneebe
habe larry wegen den kurs manipulationen geschrieben,
und was wir von der hv erwarten können.
die antwort
natürlich hat er von den manipulationen kein wort geschrieben:
Hi Oliver
On june 18 Forum Energy (we own 30%)is making an announcement, but I don't think they will be able to say they finally have the long awaited service contract. So we have to wait a little longer for them. On the gols we are still drilling and awaiting assays. Only then can we hopefuuly make a positive announcement, and get the stock price up.
Best regards Larry
hoffen wir, das auf der hv über die proben der bohrung in gols
berichtet wird.
schneebe
Antwort auf Beitrag Nr.: 29.932.639 von schneebe am 15.06.07 07:17:34Danke
dann hoffen wir mal das Beste
Lt.Larry ein erfolgreiches Shareholder Jahr
dann hoffen wir mal das Beste
Lt.Larry ein erfolgreiches Shareholder Jahr
heute hauptversammlung bin gespannt ob da heute noch was kommt
das könnten wir gut gebrauchen
Antwort auf Beitrag Nr.: 30.310.770 von hainholz am 25.06.07 18:04:04hauptversammlung wurde auf 27.07 verschoben
Oliver
The meeting was delayed until july 27 because we were waiting for FEP's financial results.
Regards
Larry
Oliver
The meeting was delayed until july 27 because we were waiting for FEP's financial results.
Regards
Larry
Antwort auf Beitrag Nr.: 30.315.432 von schneebe am 25.06.07 22:29:10bei forum energy ist am 23.07 hv, das würde dann bei fec mit 27.07 passen, hoffen wir es halt, nicht das die hv nochmal verschoben wird.
Annual General Meeting
The Forum Energy Annual General Meeting will take place at our offices in Chertsey on Monday 23 July 2007. The Directors look forward to meeting our shareholders.
Jährliche Generalversammlung
Die Forum-Energie-jährliche Generalversammlung findet in unseren Büros in Chertsey am Montag, dem 23. Juli 2007 statt. Die Direktoren freuen, unsere Aktionäre zu treffen.
Annual General Meeting
The Forum Energy Annual General Meeting will take place at our offices in Chertsey on Monday 23 July 2007. The Directors look forward to meeting our shareholders.
Jährliche Generalversammlung
Die Forum-Energie-jährliche Generalversammlung findet in unseren Büros in Chertsey am Montag, dem 23. Juli 2007 statt. Die Direktoren freuen, unsere Aktionäre zu treffen.
Antwort auf Beitrag Nr.: 30.318.296 von schneebe am 26.06.07 08:43:37Ob sich aber die Aktionäre freuen???
Antwort auf Beitrag Nr.: 30.327.211 von hainholz am 26.06.07 16:00:35
Hallo hainholz
.........sind die jeh gefragt worden ? ?
ex
Hallo hainholz
.........sind die jeh gefragt worden ? ?
ex
Antwort auf Beitrag Nr.: 30.327.211 von hainholz am 26.06.07 16:00:35wenn sie sich schon freuen, dann werde sie auch was in der hinterhand haben, sodass sich die aktionäre endlich auch wieder mal freuen können.
Antwort auf Beitrag Nr.: 30.329.770 von schneebe am 26.06.07 17:48:25heute wieder verar..... drüben,mit 6,60$ Umsatz runter auf 0,022
Antwort auf Beitrag Nr.: 30.357.412 von hainholz am 27.06.07 21:32:26Hallo hainholz
was soll man davon nur halten ? ? ?
hier scheint ein Kinderhort Börse zu spielen.............
im Augenblick kann man den Eindruck gewinnen das die Aktie nur noch für das "Monopoli-Spiel" taugt.
ex
was soll man davon nur halten ? ? ?
hier scheint ein Kinderhort Börse zu spielen.............
im Augenblick kann man den Eindruck gewinnen das die Aktie nur noch für das "Monopoli-Spiel" taugt.
ex
Antwort auf Beitrag Nr.: 30.357.412 von hainholz am 27.06.07 21:32:26
Hallo hainholz
und die Eröffnung in Ffm. bestädigt das es sich um ein "Kindervergnügen handelt,
zu mindest zur Zeit drängt sich einem diese Sichtweise auf.
ex
Hallo hainholz
und die Eröffnung in Ffm. bestädigt das es sich um ein "Kindervergnügen handelt,
zu mindest zur Zeit drängt sich einem diese Sichtweise auf.
ex
Ölhunger Chinas wächst auf 380 Mio.Tonnen Import bis 2020
RTE
Peking 02.07.07 (www.rohstoffe-go.de)
Der Ölhunger Chinas läuft ungebremst weiter und wird sich im Zuge des starken Wirtschaftswachstum beschleunigen.
Laut der chinesischen Entwicklungs- und Reformkommission steigt der Nettoimport an Öl bis 2010 auf ein Jahresvolumen von 260 Mio. Tonnen und bis 2020 auf 380 Mio. Tonnen.
Im vergangenen Jahr lag er mit 162,87 Mio. Tonnen bereits um 19,6 Prozent über dem von 2005.
Es wird damit gerechnet, dass der Ölverbrauch in China im Jahr 2010 zwischen 450 und 500 Mio. Tonnen liegen wird. Die eigene Produktionsquote wird mit 190 Mio. Tonnen geschätzt.
Auch der Bedarf an Gas zieht beständig an und liegt in 2010 zwischen 100 und 120 Mrd. m³. Die eigene Produktionskapazität wird zu diesem Zeitpunkt mit 90 Mrd. m³ geschätzt.
July 3, 2007
Dear Sirs: All applicable Exchanges and Commissions
Subject: FEC RESOURCES INC. (AMENDED)
We advise the following with respect to the upcoming Meeting of Shareholders for the subject
Corporation:
1. Meeting Type : Annual General and Special Meeting
2. CUSIP/Class of Security entitled to receive notification : 30246X108/CA30246X1087/COMMON
3. CUSIP/Class of Security entitled to vote : 30246X108/CA30246X1087/COMMON
4. Record Date for Notice : 15 Jun 2007
5. Record date for Voting : 15 Jun 2007
6. Beneficial Ownership determination date : 15 Jun 2007
7. Meeting Date : 10 Aug 2007 (AMENDED)
8. Meeting Location : Calgary, AB
Sincerely,
“Brian Kim”
Meeting Specialist
Client Services Department
Tel: 604.661.9400 Ext 4139
Fax: 604.661.9401
Dear Sirs: All applicable Exchanges and Commissions
Subject: FEC RESOURCES INC. (AMENDED)
We advise the following with respect to the upcoming Meeting of Shareholders for the subject
Corporation:
1. Meeting Type : Annual General and Special Meeting
2. CUSIP/Class of Security entitled to receive notification : 30246X108/CA30246X1087/COMMON
3. CUSIP/Class of Security entitled to vote : 30246X108/CA30246X1087/COMMON
4. Record Date for Notice : 15 Jun 2007
5. Record date for Voting : 15 Jun 2007
6. Beneficial Ownership determination date : 15 Jun 2007
7. Meeting Date : 10 Aug 2007 (AMENDED)
8. Meeting Location : Calgary, AB
Sincerely,
“Brian Kim”
Meeting Specialist
Client Services Department
Tel: 604.661.9400 Ext 4139
Fax: 604.661.9401
Die Spielchen gehen wieder los drüben!!
wieder + 20%%
wieder + 20%%
Antwort auf Beitrag Nr.: 30.595.866 von hainholz am 09.07.07 18:02:41Das Papier stellt hohe Ansprüche an den Langmut der User.....
bin auf den 15. gespannt ! ! !
ex
bin auf den 15. gespannt ! ! !
ex
Antwort auf Beitrag Nr.: 30.648.925 von exelent am 12.07.07 09:37:58da hast du so recht!!
aber : Geduld ist die Pforte zur Glückseligkeit
irgend son Chinese
aber : Geduld ist die Pforte zur Glückseligkeit
irgend son Chinese
Antwort auf Beitrag Nr.: 30.658.397 von hainholz am 12.07.07 18:40:13habe larry mal gefragt wann er denkt mit fec in produktion zu gehn
dies war die antwort:
Oliver
FEC has no production as yet. We hold FEP shares as you know, and are exploring in the Philippines for gold. Hopefully the exploration will be fruitful and we can start mining in a year or so.
Regards
Larry
das wäre der wahnsinn wenn fec in einem jahr mit dem gold abbau anfangen würde.
alleine der gold wert wäre bei 500.000 unzen 333,5 mio $
zur zeit wird fec mit 4,94 mio € bewertet.
anzahl der aktien 235.044.000
allein mit dem gold hätte fec dann einen borsenwert von 1,4 $
bin auf die hv gespannt
dies war die antwort:
Oliver
FEC has no production as yet. We hold FEP shares as you know, and are exploring in the Philippines for gold. Hopefully the exploration will be fruitful and we can start mining in a year or so.
Regards
Larry
das wäre der wahnsinn wenn fec in einem jahr mit dem gold abbau anfangen würde.
alleine der gold wert wäre bei 500.000 unzen 333,5 mio $
zur zeit wird fec mit 4,94 mio € bewertet.
anzahl der aktien 235.044.000
allein mit dem gold hätte fec dann einen borsenwert von 1,4 $
bin auf die hv gespannt
Antwort auf Beitrag Nr.: 30.663.109 von schneebe am 12.07.07 23:23:551,4 $ pro share natürlich
Antwort auf Beitrag Nr.: 30.663.162 von schneebe am 12.07.07 23:27:42dann warten wir geduldig weiter,wir sind es ja gewöhnt
Antwort auf Beitrag Nr.: 30.663.109 von schneebe am 12.07.07 23:23:55Hallo schneebe
sollte Deine persöhnliche Wertstellung zutreffen, dann wäre das der absolute Oberh....... na Du weißt schon.......
plus Kohle und Gas.........na weißte schneebe dann sind wir was??
bekomme Lust nachzulegen.......
ex.el.ent.
sollte Deine persöhnliche Wertstellung zutreffen, dann wäre das der absolute Oberh....... na Du weißt schon.......
plus Kohle und Gas.........na weißte schneebe dann sind wir was??
bekomme Lust nachzulegen.......
ex.el.ent.
Antwort auf Beitrag Nr.: 30.669.587 von exelent am 13.07.07 14:26:07soll ich euch was verraten,hab ich neulich
aber nicht zu 0,03 wie der vor kurzen
aber nicht zu 0,03 wie der vor kurzen
Antwort auf Beitrag Nr.: 30.669.655 von hainholz am 13.07.07 14:30:38Hallo hainholz
dann muß nur noch unser "Larry"eine ordentliche Arbeit abliefern
dann muß nur noch unser "Larry"eine ordentliche Arbeit abliefern
Antwort auf Beitrag Nr.: 30.669.785 von exelent am 13.07.07 14:38:44aber Hallo !!!
@ All
heute sind Eure Postings so angenehm zu lesen........
habt Dank dafür.
ex.el.ent.
heute sind Eure Postings so angenehm zu lesen........
habt Dank dafür.
ex.el.ent.
Antwort auf Beitrag Nr.: 30.669.655 von hainholz am 13.07.07 14:30:38ich auch, und sogar unter 0,03
einfach liegen lassen und abwarten, und das könne wir ja schon sehr gut.
ich werde auf alle fälle dabei bleiben und nicht unter 0,70 € verkaufen.
wenn fec in einen jahr zu gold abbauen anfangt, dann werden wir diese kurse, die wir jetzt haben, nie wieder sehen.
vielleicht fängt dann forum auch zum oel und gas fördern an, dann können wir hier ganz andere kurse erwarten.
wünsche euch allen noch einen schönen tag und ein schönes wochenende.
bis bald.....
einfach liegen lassen und abwarten, und das könne wir ja schon sehr gut.
ich werde auf alle fälle dabei bleiben und nicht unter 0,70 € verkaufen.
wenn fec in einen jahr zu gold abbauen anfangt, dann werden wir diese kurse, die wir jetzt haben, nie wieder sehen.
vielleicht fängt dann forum auch zum oel und gas fördern an, dann können wir hier ganz andere kurse erwarten.
wünsche euch allen noch einen schönen tag und ein schönes wochenende.
bis bald.....
heute wieder null umsatz
Antwort auf Beitrag Nr.: 30.675.630 von schneebe am 13.07.07 20:11:44besser als abwärts
Antwort auf Beitrag Nr.: 30.675.876 von hainholz am 13.07.07 20:32:58da hast du recht
larry hat mir geschrieben das die nachrichten bald frei gegeben werden
"News release out soon"
also stehen bei der hv news an, hoffe das das mal gute sind.
oli
"News release out soon"
also stehen bei der hv news an, hoffe das das mal gute sind.
oli
Antwort auf Beitrag Nr.: 30.738.667 von schneebe am 18.07.07 05:42:15good NEWS oder bad News
da ich positiv denke,tippe ich auf good News
da ich positiv denke,tippe ich auf good News
Antwort auf Beitrag Nr.: 30.744.689 von hainholz am 18.07.07 15:09:51das denke ich auch
Antwort auf Beitrag Nr.: 30.738.667 von schneebe am 18.07.07 05:42:15
....wären in der tat mal fällig !!!!
....wären in der tat mal fällig !!!!
Antwort auf Beitrag Nr.: 30.745.435 von hbg55 am 18.07.07 15:57:06du hast doch zur Zeit eine Rakete am Start,gell
0.03500
+ 0.005 16.67% 1,100
mal wieder Richtung Norden
+ 0.005 16.67% 1,100
mal wieder Richtung Norden
News
23 July 2007
Forum Energy Plc ("Forum" or the "Company")
Results of AGM and GSEC101 update
Forum (AIM symbol: FEP), the Philippine focussed independent oil, gas and coal exploration and production company, announces that at the annual general meeting of the Company, held today at 11a.m., all the resolutions were passed.
The Board notes press speculation in The Manilla Bulletin Online today raising questions about Forum's legal position in relation to GSEC101. The Board has had confirmation from its own legal advisers that, in their opinion, Forum has full legal title to GSEC101. This has been confirmed in discussions with the Philippines Department of Energy ("DOE"). As a consequence, the Board believes that the speculation is wholly inaccurate.
The Company continues to actively progress discussions to convert the GSEC101 licence to a Service Contract and to introduce a partner. The timing on these developments remains subject to approval from the Philippines government.
GSEC101 (Reed Bank)
In July 2006, the Company completed the interpretation of the 3D seismic survey shot in 2005 across the Sampaguita gas discovery in licence area GSEC101 to the West of Palawan Island. Forum currently holds 100% of this under-explored acreage, which covers 10,630 square kilometres and contains at least eight additional undrilled prospects and leads.
The seismic interpretation, coupled with the data from the wells drilled in the 1970s and 1980s, increased the expected reserves to 3.4 TCF gas-in-place (previously independently assessed by PGS Reservoir Ltd. at 2.7 TCF gas-in-place). Additionally the evaluation indicated an upside of up to 20 TCF. Additional leads were also identified, further adding to the prospectivity of the area.
As a consequence of the positive results Forum commenced the process of converting the licence to a Service Contract in a form as pre-agreed and appended to the current Geophysical Survey & Exploration ("GSEC") licence, allowing the Company to move to the next stage of evaluation through the drilling of an appraisal well.
While the Company is hopeful of award of the Service Contract shortly, with the political sensitivities of the area, the Company needs to be in a position to manage the eventual timeframe.
The potential size and scale of the project open up a number of development options, including both gas export and LNG. This will ultimately be dependant upon the reserves finally defined as a result of future drilling but it is anticipated that both new wells and further seismic will be necessary.
Sampaguita lies 250 kilometres south west 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.
NewsBlast Sign-Up
StockHouse NewsBlast: Receive company sponsored news and information via email.
« Previous Message
23 July 2007
Forum Energy Plc ("Forum" or the "Company")
Results of AGM and GSEC101 update
Forum (AIM symbol: FEP), the Philippine focussed independent oil, gas and coal exploration and production company, announces that at the annual general meeting of the Company, held today at 11a.m., all the resolutions were passed.
The Board notes press speculation in The Manilla Bulletin Online today raising questions about Forum's legal position in relation to GSEC101. The Board has had confirmation from its own legal advisers that, in their opinion, Forum has full legal title to GSEC101. This has been confirmed in discussions with the Philippines Department of Energy ("DOE"). As a consequence, the Board believes that the speculation is wholly inaccurate.
The Company continues to actively progress discussions to convert the GSEC101 licence to a Service Contract and to introduce a partner. The timing on these developments remains subject to approval from the Philippines government.
GSEC101 (Reed Bank)
In July 2006, the Company completed the interpretation of the 3D seismic survey shot in 2005 across the Sampaguita gas discovery in licence area GSEC101 to the West of Palawan Island. Forum currently holds 100% of this under-explored acreage, which covers 10,630 square kilometres and contains at least eight additional undrilled prospects and leads.
The seismic interpretation, coupled with the data from the wells drilled in the 1970s and 1980s, increased the expected reserves to 3.4 TCF gas-in-place (previously independently assessed by PGS Reservoir Ltd. at 2.7 TCF gas-in-place). Additionally the evaluation indicated an upside of up to 20 TCF. Additional leads were also identified, further adding to the prospectivity of the area.
As a consequence of the positive results Forum commenced the process of converting the licence to a Service Contract in a form as pre-agreed and appended to the current Geophysical Survey & Exploration ("GSEC") licence, allowing the Company to move to the next stage of evaluation through the drilling of an appraisal well.
While the Company is hopeful of award of the Service Contract shortly, with the political sensitivities of the area, the Company needs to be in a position to manage the eventual timeframe.
The potential size and scale of the project open up a number of development options, including both gas export and LNG. This will ultimately be dependant upon the reserves finally defined as a result of future drilling but it is anticipated that both new wells and further seismic will be necessary.
Sampaguita lies 250 kilometres south west 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.
NewsBlast Sign-Up
StockHouse NewsBlast: Receive company sponsored news and information via email.
« Previous Message
NEWS NEWS
nicht schlecht
FEC Resources Announces Encouraging Update on Lascogon Project and Release of Year End Financial Statements
7/23/2007
CALGARY, Alberta, July 23, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
The following was released on behalf of the Board of FEC Resources Inc, by Larry W. Youell, President and CEO:
FEC Resources (OTC Bulletin Board: FECOF) announces that the latest results on MPSA 148 in the Philippines, have confirmed the presence of gold in both the Lascogon and Danao prospects. Trenching and subsequent assays on the Lascogan portion of the property confirm findings of between 0.1g/t to 10 g/t, to as high as 33.2g/t.
Lascogon and Danao
During the month of June trenching in select locations continued to determine the extent of gold mineralization in both Lascogon and Danao with some very encouraging results.
Trenches 1, 4B, 5A, and 5B were actively advanced during the month and excavation to an extension of Trench 4, dubbed the Southern Extension (SE), started in the middle of June. This segment aims to intersect the areas that small-scale miners are currently working, in order to study the patchy occurrence of jasperoid boulders and gold-bearing soil horizon in Danao.
It has already been ascertained that the samples from Trenches 2B, 2C, 3B and 4A have negligible Au content.
Assay results from Trench 1 show Au enrichment in at least 3 segments in the upper portion of the soil profile. Values range from 0.1 to 0.8 ppm Au. Deepening of the trench down to 4 meters exposed a 5-meter wide oxidized vertical zone that serves as the boundary between the siltstone and the jasperoid-bearing horizon.
Assay results from Trench 5B. indicate strong Au mineralization. Channel samples taken 1 meter from the surface show high Au content ranging from 0.1-10 ppm, to as much as 33.2 ppm Au. In addition the assay results clearly confirm the presence of Au not only in the jasperoid, but also in the soil horizon which would allow for open pit mining in the event a commercial discovery is determined. These results are only from the top 2 meters of the soil profile and more Au mineralization could be expected in deeper levels.
Nabago Prospect
The Nabago team has completed detailed geologic mapping and soil sampling of the entire prospect, whilst trenching and test pitting are still in progress. Once the remaining assay results are available, a soil geochemical anomaly map will be prepared which will aid in the selection of drill hole locations. Pre-drilling preparations are already underway, as known soil assay results have shown several samples with significant Au contents ranging from 0.1 to 0.6 ppm.
In addition selected rock chip samples are also deemed indicative of Au mineralization, with a variable range from 0.1 ppm to as much as 5.85 ppm Au. The 5.85 g/ton Au sample was described as a gouge material with grayish-cream color and disseminated pyrite within the andesite porphyry domain. The outcrop is approximately 500 aerial meters north of the epithermal vein system where high-grade small-scale mining is concentrated.
Work Program
Over the next two months trenching activities will continue with the completion of Trenches 1, 4SE and 5B thus achieving the primary objectives of the trenching program, which is to characterize the vertical and lateral distribution of Au and jasperoid materials in the soil horizon.
Year End Financials
FEC has now released its audited year end financials. The Management Discussion and Analysis along with the financial statements are available at http://www.sedar.com
A restatement of a prior period was necessary as the Company recorded its disposition of FEI at the fair value of the FEP shares it received instead of the carrying value of its interest in FEI given up. As a consequence of recording the initial investment in FEP shares at their fair value, the Company recorded a gain on disposition of its FEI investment of $20,062,833 whereas using the carrying value of its interest, no gain has been reported.
The effect of the correction of the financial statements as at December 31, 2005 and for the year then ended is summarized as follows:
As Reported Adjustment As Restated
Gain (loss) on
disposition of
investments $24,758,061 $(20,062,833) $4,695,228
Gain on dilution of
investment in FEP 754,827 9,721,959 10,476,786
Retained earnings
(deficit) 6,430,792 (10,340,874) (3,910,082)
Investment in FEP 21,867,173 (10,340,874) 11,526,299
Net income per common
share:
Basic $0.12 $(0.06) $0.06
Fully diluted $0.10 $(0.05) $0.05
FEC Resources Inc., holds a diverse portfolio of Oil, Gas, Coal, Gold and Iron Ore assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com
On behalf of the Board of, FEC Resources Inc. "Larry W. Youell" Larry W. Youell President and 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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
FORUM ENERGY HEADQUARTERS Calgary, Alberta E-mail:info@FECResources.com Website: http://www.FECResources.com Tel: 1-403-290-1676 Fax: 1-403-398-1382
SOURCE FEC Resources Inc.
Larry Youell, President and CEO of FEC Resources Inc., +1-403-290-1676, info@FECResources.com http://www.fecresources.com
Copyright (C) 2007 PR Newswire. All rights reserved
nicht schlecht
FEC Resources Announces Encouraging Update on Lascogon Project and Release of Year End Financial Statements
7/23/2007
CALGARY, Alberta, July 23, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
The following was released on behalf of the Board of FEC Resources Inc, by Larry W. Youell, President and CEO:
FEC Resources (OTC Bulletin Board: FECOF) announces that the latest results on MPSA 148 in the Philippines, have confirmed the presence of gold in both the Lascogon and Danao prospects. Trenching and subsequent assays on the Lascogan portion of the property confirm findings of between 0.1g/t to 10 g/t, to as high as 33.2g/t.
Lascogon and Danao
During the month of June trenching in select locations continued to determine the extent of gold mineralization in both Lascogon and Danao with some very encouraging results.
Trenches 1, 4B, 5A, and 5B were actively advanced during the month and excavation to an extension of Trench 4, dubbed the Southern Extension (SE), started in the middle of June. This segment aims to intersect the areas that small-scale miners are currently working, in order to study the patchy occurrence of jasperoid boulders and gold-bearing soil horizon in Danao.
It has already been ascertained that the samples from Trenches 2B, 2C, 3B and 4A have negligible Au content.
Assay results from Trench 1 show Au enrichment in at least 3 segments in the upper portion of the soil profile. Values range from 0.1 to 0.8 ppm Au. Deepening of the trench down to 4 meters exposed a 5-meter wide oxidized vertical zone that serves as the boundary between the siltstone and the jasperoid-bearing horizon.
Assay results from Trench 5B. indicate strong Au mineralization. Channel samples taken 1 meter from the surface show high Au content ranging from 0.1-10 ppm, to as much as 33.2 ppm Au. In addition the assay results clearly confirm the presence of Au not only in the jasperoid, but also in the soil horizon which would allow for open pit mining in the event a commercial discovery is determined. These results are only from the top 2 meters of the soil profile and more Au mineralization could be expected in deeper levels.
Nabago Prospect
The Nabago team has completed detailed geologic mapping and soil sampling of the entire prospect, whilst trenching and test pitting are still in progress. Once the remaining assay results are available, a soil geochemical anomaly map will be prepared which will aid in the selection of drill hole locations. Pre-drilling preparations are already underway, as known soil assay results have shown several samples with significant Au contents ranging from 0.1 to 0.6 ppm.
In addition selected rock chip samples are also deemed indicative of Au mineralization, with a variable range from 0.1 ppm to as much as 5.85 ppm Au. The 5.85 g/ton Au sample was described as a gouge material with grayish-cream color and disseminated pyrite within the andesite porphyry domain. The outcrop is approximately 500 aerial meters north of the epithermal vein system where high-grade small-scale mining is concentrated.
Work Program
Over the next two months trenching activities will continue with the completion of Trenches 1, 4SE and 5B thus achieving the primary objectives of the trenching program, which is to characterize the vertical and lateral distribution of Au and jasperoid materials in the soil horizon.
Year End Financials
FEC has now released its audited year end financials. The Management Discussion and Analysis along with the financial statements are available at http://www.sedar.com
A restatement of a prior period was necessary as the Company recorded its disposition of FEI at the fair value of the FEP shares it received instead of the carrying value of its interest in FEI given up. As a consequence of recording the initial investment in FEP shares at their fair value, the Company recorded a gain on disposition of its FEI investment of $20,062,833 whereas using the carrying value of its interest, no gain has been reported.
The effect of the correction of the financial statements as at December 31, 2005 and for the year then ended is summarized as follows:
As Reported Adjustment As Restated
Gain (loss) on
disposition of
investments $24,758,061 $(20,062,833) $4,695,228
Gain on dilution of
investment in FEP 754,827 9,721,959 10,476,786
Retained earnings
(deficit) 6,430,792 (10,340,874) (3,910,082)
Investment in FEP 21,867,173 (10,340,874) 11,526,299
Net income per common
share:
Basic $0.12 $(0.06) $0.06
Fully diluted $0.10 $(0.05) $0.05
FEC Resources Inc., holds a diverse portfolio of Oil, Gas, Coal, Gold and Iron Ore assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com
On behalf of the Board of, FEC Resources Inc. "Larry W. Youell" Larry W. Youell President and 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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
FORUM ENERGY HEADQUARTERS Calgary, Alberta E-mail:info@FECResources.com Website: http://www.FECResources.com Tel: 1-403-290-1676 Fax: 1-403-398-1382
SOURCE FEC Resources Inc.
Larry Youell, President and CEO of FEC Resources Inc., +1-403-290-1676, info@FECResources.com http://www.fecresources.com
Copyright (C) 2007 PR Newswire. All rights reserved
Net income per common
share:
Basic $0.12 $(0.06) $0.06
Fully diluted $0.10 $(0.05) $0.05
Meeting Date : 10 Aug 2007 (AMENDED)
mit dem heutigen Datum verbinden sich so einige Hoffnungen....
mit dem heutigen Datum verbinden sich so einige Hoffnungen....
Antwort auf Beitrag Nr.: 31.108.386 von exelent am 10.08.07 07:24:09gibt es neues zu vermelden?
der 10. 08. ist gelaufen ,und noch nichts zu durchgedrungen?
das ist eigenartig...................
und nun?
der 10. 08. ist gelaufen ,und noch nichts zu durchgedrungen?
das ist eigenartig...................
und nun?
auch nichts gehört und gesehen.
aber einen Bericht gefunden
http://www.rigzone.com/news/article.asp?a_id=48666 …
aber einen Bericht gefunden
http://www.rigzone.com/news/article.asp?a_id=48666 …
Antwort auf Beitrag Nr.: 31.124.333 von hainholz am 11.08.07 13:09:40sorry, kannst Du diesen Bericht bewerten?
Antwort auf Beitrag Nr.: 31.123.828 von exelent am 11.08.07 11:32:57habe gestern larry geschrieben ob die hv war und
was es neues zu berichten gibt.
das war seine antwort
Yes yesterday was the AGM
Nothing new reported
Regards
Larry
super!!!! also, weiter warten
was es neues zu berichten gibt.
das war seine antwort
Yes yesterday was the AGM
Nothing new reported
Regards
Larry
super!!!! also, weiter warten
Antwort auf Beitrag Nr.: 31.126.507 von schneebe am 11.08.07 21:08:46Jaja unser Larry..........der prüft unsere Leidensfähigkeit....
heut mal wieder hoch auf 0,03 drüben
NEWS
LATEST RNS ANNOUNCEMENT
Back to list
August 20 2007
GSEC101 Joint Venture
Forum is pleased to announce that its wholly owned subsidiary, Forum (GSEC101) Limited, has entered into Heads of Agreement with Monte Oro Resources & Energy, Inc. (“Monte Oro”), a private Philippine company focused in Mining, Oil & Gas and Infrastructure investments in the Philippines.
Under the terms of the agreement, Monte Oro will acquire a 30% participating interest in GSEC101. Monte Oro will pay Forum Energy plc the amount of US$1,500,000 of past costs to the date of the agreement plus its pro-rata share of costs incurred to the point of payment. Payment will take place the earlier of six months following award of the Service Contract or completion of any future farm out transaction.
The participation of Monte Oro in the Service Contract application of Forum, now pending with the Department of Energy (“DOE”), will entitle the joint venture to the Filipino Participation Incentive Allowance (“FPIA”) which equates to 7.5% of gross proceeds from any future production. Monte Oro will assist in obtaining all regulatory approvals for the conversion of GSEC 101 into a Service Contract.
The assignment of the interest is subject to the approval of the Department of Energy of the Republic of the Philippines.
Statement from Russell Harvey, Chief Executive:
“We are very pleased to have signed this Agreement with Monte Oro which we are confident will assist us in a timely conversion of the Service Contract. This partner brings a wealth of local experience which will assist in developing Forum’s business while providing welcome Philippine participation in a major local resource. The new Joint Venture will also qualify for the Filipino Participation Incentive Allowance which enhances the attractiveness of any future development. I am looking forward to working closely with our new partner to expedite both the Service Contract award and activity on the block going-forward.”
For further information please contact:
LATEST RNS ANNOUNCEMENT
Back to list
August 20 2007
GSEC101 Joint Venture
Forum is pleased to announce that its wholly owned subsidiary, Forum (GSEC101) Limited, has entered into Heads of Agreement with Monte Oro Resources & Energy, Inc. (“Monte Oro”), a private Philippine company focused in Mining, Oil & Gas and Infrastructure investments in the Philippines.
Under the terms of the agreement, Monte Oro will acquire a 30% participating interest in GSEC101. Monte Oro will pay Forum Energy plc the amount of US$1,500,000 of past costs to the date of the agreement plus its pro-rata share of costs incurred to the point of payment. Payment will take place the earlier of six months following award of the Service Contract or completion of any future farm out transaction.
The participation of Monte Oro in the Service Contract application of Forum, now pending with the Department of Energy (“DOE”), will entitle the joint venture to the Filipino Participation Incentive Allowance (“FPIA”) which equates to 7.5% of gross proceeds from any future production. Monte Oro will assist in obtaining all regulatory approvals for the conversion of GSEC 101 into a Service Contract.
The assignment of the interest is subject to the approval of the Department of Energy of the Republic of the Philippines.
Statement from Russell Harvey, Chief Executive:
“We are very pleased to have signed this Agreement with Monte Oro which we are confident will assist us in a timely conversion of the Service Contract. This partner brings a wealth of local experience which will assist in developing Forum’s business while providing welcome Philippine participation in a major local resource. The new Joint Venture will also qualify for the Filipino Participation Incentive Allowance which enhances the attractiveness of any future development. I am looking forward to working closely with our new partner to expedite both the Service Contract award and activity on the block going-forward.”
For further information please contact:
Antwort auf Beitrag Nr.: 31.226.555 von hainholz am 20.08.07 12:26:26wenn Monte Oro Resources & Energy, Inc. schon mal 1,5 m $ in fep investiert,
dann wird es mit fec sicher mal was werden, fragt sich nur wann!!!!
dann wird es mit fec sicher mal was werden, fragt sich nur wann!!!!
AFX News Limited
UK small caps open higher; Forum Energy strong on Monte Oro JV
08.20.07, 5:26 AM ET
Popular Videos
SportsMoney: Wreckless Robby
The T-Shirt That Texts
The King?s Business Lives On
Nick Cannon "The Entrepre-tainer"
Hip Hop Cash Kings
Most Popular Stories
The Best Business Schools
Insider Guide To Late-Summer Sales
Hottest Bollywood Films
Stunning Solar-Powered Homes
Meanest Presidential Candidates
LONDON (Thomson Financial) - UK small caps were higher in early trade, taking their cue from buoyant wider markets, with Forum Energy to the fore on the back of the Monte Oro Resources joint venture deal.
The FTSE Small Cap index was 15.7 points up at 3,722.9 by 9.07 am, while the Footsie was 82.2 ahead at 6,146.4.
Forum Energy topped the list of small-cap gainers, advancing 11 pence to 43-1/2 -- a near 34 pct gain -- following the joint venture agreement with Monte Oro Resources & Energy, a private company focused in mining, oil & gas and infrastructure investments in the Philippines.
Better levels were also seen in DHX Media, 5 up at 71-1/2, following news that the television producer has reached an agreement with Rocket Licensing, which will be the UK licensing agent for its preschool programme 'Franny's Feet'.
The agreement complements the completed deal for costume characters with Rainbow Productions for Europe.
Gemfields Resources, too, attracted support and rose 5-1/2 to 30 following confirmation that the AIM-listed Zambian gemstone mining and exploration company last week discovered a 10,050 carat emerald at its 100 pct-owned Mbuva-Chibolele emerald mine.
Shares in Worthington Nicholls, hard-hit Friday in the wake of a profit warning, rebounded 3-1/2 to 23-1/4 after today's Independent newspaper suggested the air conditioning and heating systems maker could be worth a punt for investors with nerves of steel.
Elsewhere, Bioprogress rallied 2-3/4 to 44 on a combination of mounting takeover speculation and last Friday's soothing statement prompted by the recent share price decline.
Shares in Synchronica ticked up 0.75 to 8.625 after the mobile synchronisation and device management company disclosed it has signed a contract with Sun Microsystems to licence key components of the Synchronica Mobile Gateway for integration with products from its Communications and Applications software divisions.
On the downside, the worst-performing small-cap was Raymarine, which sank 75-3/4 to 282-1/4 as worries about a severe economic downturn in the US eclipsed news of a 14 pct increase in profits at the half-way mark.
The supplier of marine electronic products to the leisure boating market warned it does not expect the outlook for the US to improve in the second half of the year, and expects US sales to remain flat in 2008.
The warning was accompanied by news of the earnings-enhancing acquisition of H.E. Eissing KG, the sole distributor of Raymarine products in Germany, for up to a maximum of 2.4 mln stg.
Widening Q3 losses clipped 0.12-1/2 from Caliber Global Investment, at 1.85, while Vanco ran back 27 to 329 as the virtual network operator warned in a trading update that free cash flow for the six months ended July 31 will be lower than in the same period last year due to a delay in the signing of three new contracts with existing customers.
Vanco sees a cash outflow of about 20 mln stg for the year, which is about 10 mln stg below its expectations.
Finally, Christian Salvesen dipped 2 to 56 in reaction to a disappointing trading update, which was accompanied by news of the disposal of the company's frozen vegetable business to Pinguin Foods UK, a subsidiary of Belgian food processor Pinguin NV, for about 17.2 mln stg cash.
tf.TFN-Europe_newsdesk@thomson.com
fjb/slm
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
UK small caps open higher; Forum Energy strong on Monte Oro JV
08.20.07, 5:26 AM ET
Popular Videos
SportsMoney: Wreckless Robby
The T-Shirt That Texts
The King?s Business Lives On
Nick Cannon "The Entrepre-tainer"
Hip Hop Cash Kings
Most Popular Stories
The Best Business Schools
Insider Guide To Late-Summer Sales
Hottest Bollywood Films
Stunning Solar-Powered Homes
Meanest Presidential Candidates
LONDON (Thomson Financial) - UK small caps were higher in early trade, taking their cue from buoyant wider markets, with Forum Energy to the fore on the back of the Monte Oro Resources joint venture deal.
The FTSE Small Cap index was 15.7 points up at 3,722.9 by 9.07 am, while the Footsie was 82.2 ahead at 6,146.4.
Forum Energy topped the list of small-cap gainers, advancing 11 pence to 43-1/2 -- a near 34 pct gain -- following the joint venture agreement with Monte Oro Resources & Energy, a private company focused in mining, oil & gas and infrastructure investments in the Philippines.
Better levels were also seen in DHX Media, 5 up at 71-1/2, following news that the television producer has reached an agreement with Rocket Licensing, which will be the UK licensing agent for its preschool programme 'Franny's Feet'.
The agreement complements the completed deal for costume characters with Rainbow Productions for Europe.
Gemfields Resources, too, attracted support and rose 5-1/2 to 30 following confirmation that the AIM-listed Zambian gemstone mining and exploration company last week discovered a 10,050 carat emerald at its 100 pct-owned Mbuva-Chibolele emerald mine.
Shares in Worthington Nicholls, hard-hit Friday in the wake of a profit warning, rebounded 3-1/2 to 23-1/4 after today's Independent newspaper suggested the air conditioning and heating systems maker could be worth a punt for investors with nerves of steel.
Elsewhere, Bioprogress rallied 2-3/4 to 44 on a combination of mounting takeover speculation and last Friday's soothing statement prompted by the recent share price decline.
Shares in Synchronica ticked up 0.75 to 8.625 after the mobile synchronisation and device management company disclosed it has signed a contract with Sun Microsystems to licence key components of the Synchronica Mobile Gateway for integration with products from its Communications and Applications software divisions.
On the downside, the worst-performing small-cap was Raymarine, which sank 75-3/4 to 282-1/4 as worries about a severe economic downturn in the US eclipsed news of a 14 pct increase in profits at the half-way mark.
The supplier of marine electronic products to the leisure boating market warned it does not expect the outlook for the US to improve in the second half of the year, and expects US sales to remain flat in 2008.
The warning was accompanied by news of the earnings-enhancing acquisition of H.E. Eissing KG, the sole distributor of Raymarine products in Germany, for up to a maximum of 2.4 mln stg.
Widening Q3 losses clipped 0.12-1/2 from Caliber Global Investment, at 1.85, while Vanco ran back 27 to 329 as the virtual network operator warned in a trading update that free cash flow for the six months ended July 31 will be lower than in the same period last year due to a delay in the signing of three new contracts with existing customers.
Vanco sees a cash outflow of about 20 mln stg for the year, which is about 10 mln stg below its expectations.
Finally, Christian Salvesen dipped 2 to 56 in reaction to a disappointing trading update, which was accompanied by news of the disposal of the company's frozen vegetable business to Pinguin Foods UK, a subsidiary of Belgian food processor Pinguin NV, for about 17.2 mln stg cash.
tf.TFN-Europe_newsdesk@thomson.com
fjb/slm
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
Antwort auf Beitrag Nr.: 31.230.759 von schneebe am 20.08.07 18:00:54bei den Amis noch nichts bekannt
Antwort auf Beitrag Nr.: 31.231.129 von hainholz am 20.08.07 18:33:16bei fep geht es rund
FORUM ENERGY (LSE FEP.L/ISIN GB00B07C1T48) Bearbeiten
Letzter Kurs: 38,50 p
Kurszeit: 17:26
Veränderung: Up 8,00 (26,23%)
Letzt. Schlußk: 30,50
Eröffnungskurs: 32,50
Geldkurs: 37,25
Briefkurs: 37,75
Kursziel 1J: N/Ap
FORUM ENERGY (LSE FEP.L/ISIN GB00B07C1T48) Bearbeiten
Letzter Kurs: 38,50 p
Kurszeit: 17:26
Veränderung: Up 8,00 (26,23%)
Letzt. Schlußk: 30,50
Eröffnungskurs: 32,50
Geldkurs: 37,25
Briefkurs: 37,75
Kursziel 1J: N/Ap
hoffe das sich fec heute auch mal rührt
FORUM ENERGY (LSE FEP.L/ISIN GB00B07C1T48)
Letzter Kurs: 40,00 p
Kurszeit: 10:59
Veränderung: Up 1,50 (3,90%)
Letzt. Schlußk: 38,50
Eröffnungskurs: 37,50
Geldkurs: 38,00
Briefkurs: 42,00
Kursziel 1J: N/Ap
FORUM ENERGY (LSE FEP.L/ISIN GB00B07C1T48)
Letzter Kurs: 40,00 p
Kurszeit: 10:59
Veränderung: Up 1,50 (3,90%)
Letzt. Schlußk: 38,50
Eröffnungskurs: 37,50
Geldkurs: 38,00
Briefkurs: 42,00
Kursziel 1J: N/Ap
Antwort auf Beitrag Nr.: 31.238.073 von schneebe am 21.08.07 11:59:27sie haben weltklasse Gasvorkommen,Öl und Kohle sind am Start und Gold ist auch nicht schlecht vertreten und trotzdem ist die Firma nicht recht bekannt drüben,sie müßten auch mal mehr für die Öffentlichkeit machen.
Wenn du Zeit hast,kannst du ja Larry mal fragen,ob sie nicht etwas mehr Publicity machen wollen.
Wenn du Zeit hast,kannst du ja Larry mal fragen,ob sie nicht etwas mehr Publicity machen wollen.
Antwort auf Beitrag Nr.: 31.238.429 von hainholz am 21.08.07 12:28:34
Du sprichst mir aus der Seele,
ob Larry diesen Sensus geburtsmäßig versäumt hat?
oder was ist das Kallkül dieser Herren?
Du sprichst mir aus der Seele,
ob Larry diesen Sensus geburtsmäßig versäumt hat?
oder was ist das Kallkül dieser Herren?
Antwort auf Beitrag Nr.: 31.238.429 von hainholz am 21.08.07 12:28:34bei unsere fec rührt sich wieder mal nichts
FORUM ENERGY (LSE FEP.L/ISIN GB00B07C1T48)
Letzter Kurs: 41,75 p
Kurszeit: 17:12
Veränderung: Up 3,25 (8,44%)
Letzt. Schlußk: 38,50
Eröffnungskurs: 37,50
Geldkurs: 39,25
Briefkurs: 39,75
Kursziel 1J: N/Ap
FORUM ENERGY (LSE FEP.L/ISIN GB00B07C1T48)
Letzter Kurs: 41,75 p
Kurszeit: 17:12
Veränderung: Up 3,25 (8,44%)
Letzt. Schlußk: 38,50
Eröffnungskurs: 37,50
Geldkurs: 39,25
Briefkurs: 39,75
Kursziel 1J: N/Ap
Antwort auf Beitrag Nr.: 31.244.784 von schneebe am 21.08.07 19:26:13doch jetzt kleines up auf 0,027
.....................N E W S...................
Forum Energy Plc Enters Into Joint Venture
Wednesday August 22, 2:10 am ET
CALGARY, Alberta, Aug. 22 /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. ("FEC" or "the company") (OTC Bulletin Board: FECOF; Frankfurt and Munich: FE8) is pleased to announce that Forum Energy Plc (of which FEC is the largest shareholder) has entered into a joint venture agreement with Monte Oro, a Philippine company. The press release announcing this agreement follows.
20 August 2007
Forum Energy Plc ("Forum" or "the Company")
GSEC101 JOINT VENTURE
Forum is pleased to announce that its wholly owned subsidiary, Forum (GSEC101) Limited, has entered into Heads of Agreement with Monte Oro Resources & Energy, Inc. ("Monte Oro"), a private Philippine company focused in Mining, Oil & Gas and Infrastructure investments in the Philippines.
Under the terms of the agreement, Monte Oro will acquire a 30% participating interest in GSEC101. Monte Oro will pay Forum Energy plc the amount of US$1,500,000 of past costs to the date of the agreement plus its pro-rata share of costs incurred to the point of payment. Payment will take place the earlier of six months following award of the Service Contract or completion of any future farm out transaction.
The participation of Monte Oro in the Service Contract application of Forum, now pending with the Department of Energy ("DOE"), will entitle the joint venture to the Filipino Participation Incentive Allowance ("FPIA") which equates to 7.5% of gross proceeds from any future production. Monte Oro will assist in obtaining all regulatory approvals for the conversion of GSEC 101 into a Service Contract.
The assignment of the interest is subject to the approval of the Department of Energy of the Republic of the Philippines.
Statement from Russell Harvey, Chief Executive:
"We are very pleased to have signed this Agreement with Monte Oro which we are confident will assist us in a timely conversion of the Service Contract. This partner brings a wealth of local experience which will assist in developing Forum's business while providing welcome Philippine participation in a major local resource. The new Joint Venture will also qualify for the Filipino Participation Incentive Allowance which enhances the attractiveness of any future development. I am looking forward to working closely with our new partner to expedite both the Service Contract award and activity on the block going-forward."
About Monte Oro Resources & Energy, Inc.
Monte Oro Resources & Energy, Inc. ("Monte Oro") is a privately held Philippine company formed in 2005 specifically to invest in Mining, Oil & Gas and Infrastructure investments in the Philippines. The Company is chaired by Dr. Walter W. Brown who is also Chairman of Philex Mining Corporation, which is listed on the Philippine Stock Exchange under "PX".
The board of Monte Oro also consists of a number of eminent Filipino businessmen including Wilson Sy, the former Chairman of the Philippine Stock Exchange.
The company currently holds interests in both Coal and Oil & Gas licences in the Philippines.
FEC Resources Inc., holds a diverse portfolio of Oil, Gas, Coal, Gold and Iron Ore assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com
On behalf of the Board of,
FEC Resources Inc.
"Larry W. Youell"
Larry W. Youell
President and 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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
Source: FEC Resources Inc.
Forum Energy Plc Enters Into Joint Venture
Wednesday August 22, 2:10 am ET
CALGARY, Alberta, Aug. 22 /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. ("FEC" or "the company") (OTC Bulletin Board: FECOF; Frankfurt and Munich: FE8) is pleased to announce that Forum Energy Plc (of which FEC is the largest shareholder) has entered into a joint venture agreement with Monte Oro, a Philippine company. The press release announcing this agreement follows.
20 August 2007
Forum Energy Plc ("Forum" or "the Company")
GSEC101 JOINT VENTURE
Forum is pleased to announce that its wholly owned subsidiary, Forum (GSEC101) Limited, has entered into Heads of Agreement with Monte Oro Resources & Energy, Inc. ("Monte Oro"), a private Philippine company focused in Mining, Oil & Gas and Infrastructure investments in the Philippines.
Under the terms of the agreement, Monte Oro will acquire a 30% participating interest in GSEC101. Monte Oro will pay Forum Energy plc the amount of US$1,500,000 of past costs to the date of the agreement plus its pro-rata share of costs incurred to the point of payment. Payment will take place the earlier of six months following award of the Service Contract or completion of any future farm out transaction.
The participation of Monte Oro in the Service Contract application of Forum, now pending with the Department of Energy ("DOE"), will entitle the joint venture to the Filipino Participation Incentive Allowance ("FPIA") which equates to 7.5% of gross proceeds from any future production. Monte Oro will assist in obtaining all regulatory approvals for the conversion of GSEC 101 into a Service Contract.
The assignment of the interest is subject to the approval of the Department of Energy of the Republic of the Philippines.
Statement from Russell Harvey, Chief Executive:
"We are very pleased to have signed this Agreement with Monte Oro which we are confident will assist us in a timely conversion of the Service Contract. This partner brings a wealth of local experience which will assist in developing Forum's business while providing welcome Philippine participation in a major local resource. The new Joint Venture will also qualify for the Filipino Participation Incentive Allowance which enhances the attractiveness of any future development. I am looking forward to working closely with our new partner to expedite both the Service Contract award and activity on the block going-forward."
About Monte Oro Resources & Energy, Inc.
Monte Oro Resources & Energy, Inc. ("Monte Oro") is a privately held Philippine company formed in 2005 specifically to invest in Mining, Oil & Gas and Infrastructure investments in the Philippines. The Company is chaired by Dr. Walter W. Brown who is also Chairman of Philex Mining Corporation, which is listed on the Philippine Stock Exchange under "PX".
The board of Monte Oro also consists of a number of eminent Filipino businessmen including Wilson Sy, the former Chairman of the Philippine Stock Exchange.
The company currently holds interests in both Coal and Oil & Gas licences in the Philippines.
FEC Resources Inc., holds a diverse portfolio of Oil, Gas, Coal, Gold and Iron Ore assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com
On behalf of the Board of,
FEC Resources Inc.
"Larry W. Youell"
Larry W. Youell
President and 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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
Source: FEC Resources Inc.
Antwort auf Beitrag Nr.: 31.251.354 von hbg55 am 22.08.07 10:47:07war wohl zum angeln,der Gute
2 Tage später in USA
2 Tage später in USA
Antwort auf Beitrag Nr.: 31.251.410 von hainholz am 22.08.07 10:50:16
........uuuuups - dennoch nicht minder
erfreulich diese news, die glatt an mir
vorbeigerutscht ist !!!
........uuuuups - dennoch nicht minder
erfreulich diese news, die glatt an mir
vorbeigerutscht ist !!!
klar ist die News gut,dann können wir wohl mit verstärkten Aktivitäten rechnen,denn die Phillippinos wollen sicher auch was verdienen
mal wieder hoch auf 0,03 in USA
Wirtschaftswachstum der Philippinen erreicht 20 Jahreshoch
Donnerstag 30. August 2007, 09:34 Uhr
EMFIS.COM - RTE
Manila 30.08.07 (www.emfis.com) Das Wirtschaftswachstum der Philippinen erreichte im zweiten Quartal einen Anstieg von 7,5 Prozent. Es ist damit die höchste Wachstumsrate der letzten 20 Jahre und schlägt die Schätzungen der von Thomson Financial befragten Volkswirte. Diese hatten mit einem Anstieg von 6,9 Prozent gerechnet. Nach den Zahlen verkündete die Präsidenten Gloria Arroyo, dass man davon ausgeht, dass das Wachstum auf Jahresbasis zwischen 6,1 und 6,7 Prozent liegen wird. Damit rückt sie von der ursprünglichen Schätzung nicht ab. Dagegen heißt es aus dem Finanzministerium von Margarito Teves, das 7 Prozent
Anzeige
und mehr durchaus möglich seien.
Dabei sollte der Dienstleistugnssektor mit einem durchschnittlichen Wachstum von 8,4 Prozent einer der Motoren der philippinischen Wirtschaft sein.
Der Produktionsausstoß stieg im zweiten Quartal um 8 Prozent. Auch die Landwirtschaft, welche ein Fünftel des GDP`s ausmacht, stieg um 3,9 Prozent und das trotz negativer Umwelteinflüsse.
Für David Cohen, Chefvolkswirt der Action Economics aus Singapur ist ein Wachstum von 7 Prozent für die Philippinen kein Problem. Vor allem die steigende Binnennachfrage wird einen sich abschwächenden Export mehr als nur ausgleichen, ist sich Cohen sicher. Das Land und seine Wirtschaft befinden sich auf einen guten und gesunden Weg.
Höchst erfreut über diese Nachricht zeigte man sich an der Börse. Mit einem Aufschlag von 3,45 Prozent legt sie heute in Asien die beste Performance hin. Bis zu seinem alten Hoch von 3.820 Punkten am 13. Juli, hat der PSEi Index aber noch ein Stück Weg vor sich. Heute schloss er bei 3.320 Punkten.
.........diese entwicklung sollte auch unsre PERLE
befluegeln koennen !!!
es ist wie verhext mit Forum,Weltpotential an Gas
Kohle und Gold am Start und keiner interessiert sich
Kohle und Gold am Start und keiner interessiert sich
Antwort auf Beitrag Nr.: 29.274.030 von hbg55 am 11.05.07 18:39:49Press Release
Source: FEC Resources Inc.
FEC Continues to Outline Gold Mineralisation at Lascogon
Tuesday September 25, 8:48 pm ET
CALGARY, Alberta, Sept. 25 /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) ("FEC") reports on results of the ongoing 2007 trenching campaign on the Lascogon/Danao property (MPSA 148), located on Mindanao Island, Philippines.
The initial phase of trenching has continued to expose gold mineralization both in Danao and Lascogon and has confirmed the presence of another mineralization episode other than the Carlin-like process responsible for the jasperoid formation.
In Danao (located north of Lascogon), Trench 1 has returned gold assays ranging from 0.1g/t to 0.8g/t, up to a maximum of 2.4g/t. The results prove that gold mineralization is consistent down to the trench depth limit of 4m.
Detrital gold in soil collected from Danao shows angular shapes, often with complexly irregular boundaries. The Au grains range in size from less ~0.2 mm to ~2.5 mm and have preserved their braided wire-like texture often taken form by native gold when it precipitates. Some grains are even seen attached to subhedral - anhedral quartz crystals. These observations together confirm that there are at least 2 mineralization episodes in Danao, and that the source of the sediments hosting the gold grains is near.
In Lascogon, new assay results confirm the occurrence of gold mineralization along the entire 184m strike of Trench 4SE. This trench passes through part of the jasperoid field in Danao. Gold values range from 0.1 to 1.3g/t, with a maximum of 2.3g/t and substantiates that gold mineralization is present down to the trench depth limit of 2m.
In Lascogon, gold assay values from deeper levels of Trench 5B confirm the occurrence of highly mineralized gold horizons down to the trench depth limit of 8m. Assay values range from 1.0 to 7.0g/t, with occasional intervals reaching compositions up to 16.4g/t (6m below surface) and 22.4g/t (4m below surface).
Assay values from Trench 5C show long continuous surface mineralization (from 185 to 256m) down to the trench limit of 2m. Gold mineralization ranges from 0.1 to 0.8g/t, down to 1m from surface, to 1.0 to 3.0 g/t, with occasional peaks reaching 6.0 to 9g/t. A portion of this trench was deepened down to 4m and revealed higher assays of 9.0 to 12.0g/t substantiating that gold mineralization is persistent within the jasperoid field.
In making the announcement today, Larry W. Youell, FEC's President and CEO, said, "The trenching results to date at Lascogon are extremely encouraging and we expect that with continued similar results from additional trenching significant value to our company will be added."
The Lascogon Gold Prospect is contained within the 2306Ha acreage of MPSA148. The property is centrally located in the highly prospective terrain of Surigao del Norte, Mindanao, Philippines, where several types of deposits are known to exist. Continued work on this prospect has returned excellent gold grades and is quickly identifying the pervasiveness of gold mineralization.
A quality assurance and quality control program (QA/QC) was implemented by FEC and Philex and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of duplicates and blanks in the sample batches sent to the laboratory and a systematic re-assaying from the remaining coarse reject fraction by the fire-assay method with an atomic absorption finish.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, gold and iron assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com.
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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
Source: FEC Resources Inc.
FEC Continues to Outline Gold Mineralisation at Lascogon
Tuesday September 25, 8:48 pm ET
CALGARY, Alberta, Sept. 25 /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) ("FEC") reports on results of the ongoing 2007 trenching campaign on the Lascogon/Danao property (MPSA 148), located on Mindanao Island, Philippines.
The initial phase of trenching has continued to expose gold mineralization both in Danao and Lascogon and has confirmed the presence of another mineralization episode other than the Carlin-like process responsible for the jasperoid formation.
In Danao (located north of Lascogon), Trench 1 has returned gold assays ranging from 0.1g/t to 0.8g/t, up to a maximum of 2.4g/t. The results prove that gold mineralization is consistent down to the trench depth limit of 4m.
Detrital gold in soil collected from Danao shows angular shapes, often with complexly irregular boundaries. The Au grains range in size from less ~0.2 mm to ~2.5 mm and have preserved their braided wire-like texture often taken form by native gold when it precipitates. Some grains are even seen attached to subhedral - anhedral quartz crystals. These observations together confirm that there are at least 2 mineralization episodes in Danao, and that the source of the sediments hosting the gold grains is near.
In Lascogon, new assay results confirm the occurrence of gold mineralization along the entire 184m strike of Trench 4SE. This trench passes through part of the jasperoid field in Danao. Gold values range from 0.1 to 1.3g/t, with a maximum of 2.3g/t and substantiates that gold mineralization is present down to the trench depth limit of 2m.
In Lascogon, gold assay values from deeper levels of Trench 5B confirm the occurrence of highly mineralized gold horizons down to the trench depth limit of 8m. Assay values range from 1.0 to 7.0g/t, with occasional intervals reaching compositions up to 16.4g/t (6m below surface) and 22.4g/t (4m below surface).
Assay values from Trench 5C show long continuous surface mineralization (from 185 to 256m) down to the trench limit of 2m. Gold mineralization ranges from 0.1 to 0.8g/t, down to 1m from surface, to 1.0 to 3.0 g/t, with occasional peaks reaching 6.0 to 9g/t. A portion of this trench was deepened down to 4m and revealed higher assays of 9.0 to 12.0g/t substantiating that gold mineralization is persistent within the jasperoid field.
In making the announcement today, Larry W. Youell, FEC's President and CEO, said, "The trenching results to date at Lascogon are extremely encouraging and we expect that with continued similar results from additional trenching significant value to our company will be added."
The Lascogon Gold Prospect is contained within the 2306Ha acreage of MPSA148. The property is centrally located in the highly prospective terrain of Surigao del Norte, Mindanao, Philippines, where several types of deposits are known to exist. Continued work on this prospect has returned excellent gold grades and is quickly identifying the pervasiveness of gold mineralization.
A quality assurance and quality control program (QA/QC) was implemented by FEC and Philex and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of duplicates and blanks in the sample batches sent to the laboratory and a systematic re-assaying from the remaining coarse reject fraction by the fire-assay method with an atomic absorption finish.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, gold and iron assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com.
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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
gar nicht mal übel die Werte !!
Antwort auf Beitrag Nr.: 31.749.858 von hainholz am 26.09.07 15:29:59es rührt sich überhaupt nichts mehr
Antwort auf Beitrag Nr.: 32.189.912 von schneebe am 29.10.07 15:31:02hi
hatte Larry nicht ein gutes Jahr für die Shareholder angekündigt?
dann sollten sie mal in die Strümpfe kommen
hatte Larry nicht ein gutes Jahr für die Shareholder angekündigt?
dann sollten sie mal in die Strümpfe kommen
Company Forum Energy Plc
TIDM FEP
Headline Disposal of Assets
Released 10:31 26-Nov-07
Number 4672I
26 November 2007
Forum Energy Plc (“Forum” or the “Company”)
Disposal of assets
Forum is pleased to announce that it has entered into a Sale & Purchase Agreement to sell its interest in the Central Cebu Coal Operating Contract 132 (“COC132”), for US$3,500,000, in cash, to First Asian Resources and Mining Corporation, a private Philippine Company.
The sale is subject to agreement by relevant regulatory authorities, including the Department of Energy of the Republic of the Philippines (“DOE”).
Forum retains its interest in the Southern Cebu Coal Operating Contract (“COC131”) and the Company is currently considering a number of options to optimise the return from this interest.
Further news will be released as appropriate.
Statement from Russell Harvey, CEO
“We are pleased to have agreed terms on a sale of the COC132 licence. The sale enables us to continue implementation of our plan to re-focus the business on our material asset, GSEC101.
In addition the sale will substantially improve our balance sheet and thus our shareholders will benefit from our continued non-dilutive efforts to fund the Company on an ongoing basis.
Production from our interest in the Galoc Field due to come on-stream in the first half of 2008, will further boost our cash reserves going-forward.”
For further information please contact:
Forum Energy Plc:
Andrew Mullins Tel: +44 (0)1932 445344
Company Secretary
Noble & Company Ltd:
Nick Naylor Tel: +44 (0)207 763 2200
Director
Pelham Public Relations:
Charles Vivian
Tel: +44 (0)20 7743 6672
Mob: +44 (0)7977 297 903
Evgeniy Chuikov
Tel: +44 (0)20 7743 6672
Mob: +44 (0)7894 608 606
END
Close
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.
©2007 London Stock Exchange plc. All rights reserved
TIDM FEP
Headline Disposal of Assets
Released 10:31 26-Nov-07
Number 4672I
26 November 2007
Forum Energy Plc (“Forum” or the “Company”)
Disposal of assets
Forum is pleased to announce that it has entered into a Sale & Purchase Agreement to sell its interest in the Central Cebu Coal Operating Contract 132 (“COC132”), for US$3,500,000, in cash, to First Asian Resources and Mining Corporation, a private Philippine Company.
The sale is subject to agreement by relevant regulatory authorities, including the Department of Energy of the Republic of the Philippines (“DOE”).
Forum retains its interest in the Southern Cebu Coal Operating Contract (“COC131”) and the Company is currently considering a number of options to optimise the return from this interest.
Further news will be released as appropriate.
Statement from Russell Harvey, CEO
“We are pleased to have agreed terms on a sale of the COC132 licence. The sale enables us to continue implementation of our plan to re-focus the business on our material asset, GSEC101.
In addition the sale will substantially improve our balance sheet and thus our shareholders will benefit from our continued non-dilutive efforts to fund the Company on an ongoing basis.
Production from our interest in the Galoc Field due to come on-stream in the first half of 2008, will further boost our cash reserves going-forward.”
For further information please contact:
Forum Energy Plc:
Andrew Mullins Tel: +44 (0)1932 445344
Company Secretary
Noble & Company Ltd:
Nick Naylor Tel: +44 (0)207 763 2200
Director
Pelham Public Relations:
Charles Vivian
Tel: +44 (0)20 7743 6672
Mob: +44 (0)7977 297 903
Evgeniy Chuikov
Tel: +44 (0)20 7743 6672
Mob: +44 (0)7894 608 606
END
Close
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.
©2007 London Stock Exchange plc. All rights reserved
na das ist ja nen ding!!!!!!!!!!
Anfang 2008 geht das Galocfield in Produktion
Production from our interest in the Galoc Field due to come on-stream in the first half of 2008, will further boost our cash reserves going-forward.”
Anfang 2008 geht das Galocfield in Produktion
Production from our interest in the Galoc Field due to come on-stream in the first half of 2008, will further boost our cash reserves going-forward.”
FEC RESOURCES INC. (OTCBB: FECOF) ("FEC" or "the company") is pleased to announce that Forum Energy (“FEP”) of which FEC is the major shareholder, today announced that project financing of US$100 million Galoc Oil field development plan had closed and the development had received approval. FEP has a 2.28% carried interest in the Galoc field.
First oil production from the field is expected in Q1 2008 at an initial rate of 15,000 bopd and the development is expected to recover up to 16mmbbls.“We are extremely pleased that the Galoc development is proceeding and is thus expected to generate additional revenues for Forum Energy in 2008 which will in turn deliver further value to FEC Resources” commented Larry Youell, President & CEO
Mr. Youell continued “We remain confident that our investment in Forum Energy will deliver noteworthy value to our shareholders through the company’s diverse Oil, Gas and Coal portfolio in the Philippines including the GSEC101 license containing the Sampaguita Gas asset”
FEC Resources Inc, holds a diverse portfolio of Oil, Gas, Coal, Gold and Iron Ore assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com
On behalf of the Board of,
FEC Resources, Inc.
First oil production from the field is expected in Q1 2008 at an initial rate of 15,000 bopd and the development is expected to recover up to 16mmbbls.“We are extremely pleased that the Galoc development is proceeding and is thus expected to generate additional revenues for Forum Energy in 2008 which will in turn deliver further value to FEC Resources” commented Larry Youell, President & CEO
Mr. Youell continued “We remain confident that our investment in Forum Energy will deliver noteworthy value to our shareholders through the company’s diverse Oil, Gas and Coal portfolio in the Philippines including the GSEC101 license containing the Sampaguita Gas asset”
FEC Resources Inc, holds a diverse portfolio of Oil, Gas, Coal, Gold and Iron Ore assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com
On behalf of the Board of,
FEC Resources, Inc.
Antwort auf Beitrag Nr.: 32.573.448 von hainholz am 26.11.07 19:15:49Hallo hainholz,
meinst Du, das wird noch mal was bei FEC? Jetzt warten wir schon eine ganze Weile, und der Kurs nähert sich immer mehr der Nullinie.
Wenn ich mir überlege, daß ich mir meine teuersten bei 0,55 gekauft habe!
Ob wir diesen Wert nochmals sehen werden?
Gruß
V v A
meinst Du, das wird noch mal was bei FEC? Jetzt warten wir schon eine ganze Weile, und der Kurs nähert sich immer mehr der Nullinie.
Wenn ich mir überlege, daß ich mir meine teuersten bei 0,55 gekauft habe!
Ob wir diesen Wert nochmals sehen werden?
Gruß
V v A
Antwort auf Beitrag Nr.: 32.573.661 von VolkervonAlzey am 26.11.07 19:31:24hi VvA
schön mal von dir zu lesen,als alten Tourniganmitstreiter.
es lodert wieder etwas hoffnung auf,aber die 0,55 sind wohl in sehr weiter Ferne.
wenn sie die Felder gänzlich in Produktion bringen und dazu die Goldbeteiligungen etwas abwerfen,sieht es eigentlich recht gut aus.
Positiv ist,das sie keine weitere Verwässerung vornehmen !!!!!
schön mal von dir zu lesen,als alten Tourniganmitstreiter.
es lodert wieder etwas hoffnung auf,aber die 0,55 sind wohl in sehr weiter Ferne.
wenn sie die Felder gänzlich in Produktion bringen und dazu die Goldbeteiligungen etwas abwerfen,sieht es eigentlich recht gut aus.
Positiv ist,das sie keine weitere Verwässerung vornehmen !!!!!
in London übrigens 10% high!!
Dear Shareholder
Forum continues to make progress, working its assets and conserving its cash
with the objective of realising shareholder value through its prime asset, the
GSEC101 block containing the Sampaguita gas discovery.
With production from the Galoc field and judicious farm-outs the Company is
positioned to be able to fund its work programs through 2008 and beyond and
looks to progress positively in the coming months. It remains open to, and is
actively seeking, additional business opportunities to provide value but sees
these as being consummated to maximum shareholder benefit once the service
contract on GSEC101 is awarded. With the recent farm out to Monte Oro Resources
& Energy, Inc. we are optimistic that a service contract award will be
forthcoming in the near future.
Forum continues to make progress, working its assets and conserving its cash
with the objective of realising shareholder value through its prime asset, the
GSEC101 block containing the Sampaguita gas discovery.
With production from the Galoc field and judicious farm-outs the Company is
positioned to be able to fund its work programs through 2008 and beyond and
looks to progress positively in the coming months. It remains open to, and is
actively seeking, additional business opportunities to provide value but sees
these as being consummated to maximum shareholder benefit once the service
contract on GSEC101 is awarded. With the recent farm out to Monte Oro Resources
& Energy, Inc. we are optimistic that a service contract award will be
forthcoming in the near future.
Antwort auf Beitrag Nr.: 32.575.622 von hainholz am 26.11.07 21:48:56wir werden wohl noch ein jahr warten müssen.
Hat nicht mal der Vorstand gesagt, 2007 wird ein gutes Jahr für die Aktionäre? Oder so ähnlich?
Dann muß er sich jetzt aber mal beeilen!
Gruß
V v A
Dann muß er sich jetzt aber mal beeilen!
Gruß
V v A
Antwort auf Beitrag Nr.: 32.793.792 von VolkervonAlzey am 17.12.07 18:03:04das hatten sie 2006 auch gesagt
FEC Completes Private Placement
Friday December 21, 2:43 pm ET
CALGARY, Alberta, Dec. 21 /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) ("FEC") announces that it has completed a $5 million US private placement of its common shares with Philex Mining Corporation at US $0.025 per share. The proceeds will be used to retire the outstanding FEC debentures which have now reached their maturity date. In addition the financing will also provide funds for working capital.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, gold and iron assets located in the Philippines through its shareholdings in Forum Energy Plc and, Lascogon Mining Corporation. For further information email info@fecresources.com.
On behalf of the Board of,
FEC Resources Inc.
"Larry W. Youell"
Larry W. Youell
President and 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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
Source: FEC Resources Inc.
........und DAMIT geht ein unverhofft übles jahr 2007
zu ende und bereitet 2008 eine positive grundlage......IMO !!!
......ALLLLLLLLL of you.........HAPPY XMAS
Antwort auf Beitrag Nr.: 32.846.938 von hbg55 am 22.12.07 12:38:10na dann
Euch auch schöne Feiertage
Euch auch schöne Feiertage
Inquirer Money - BREAKING NEWS
Philex acquires 46% stake in Canadian exploration firm
December 24, 2007
Updated 17:31:57 (Mla time)
Elizabeth Sanchez-Lacson
Philippine Daily Inquirer
PHILEX Mining Corp. is diversifying into new businesses after saying it has spent $5 million to acquire a 46-percent stake in a Canadian company with oil and gas properties.
In a disclosure last Friday, Philex vice president for finance Renato Migrino said Philex Mining bought through a private placement 200 million shares of FEC Resources Inc., a Canadian company which holds a diverse portfolio of oil and gas properties in the Philippines.
FEC holds a 30.6-percent stake in Forum Energy Plc., a British oil, gas and coal company with a portfolio of projects in the country.
Forum Energy was established in April 2005 through the consolidation of the Philippine oil, gas and coal assets of FEC and Sterling Energy Plc of the United Kingdom into one corporate entity.
In April 2006, Forum Energy bought the oil and gas assets of the former Basic Consolidated Inc., now Basic Energy Corp., which included varying interests in nine offshore fields west of the Philippines.
Forum Energy, through wholly owned subsidiary Forum (GSEC 101) Ltd., also signed an agreement with Monte Oro Resources and Energy Inc. to assess the area covered by Geophysical Survey and Exploration Contract 101.
A GSEC is a prelude to a service contract, which allows exploration and drilling activities on oil and gas prospects.
Monte Oro, which is part of the consortium that won the recent bid for the National Transmission Corp. (Transco) power grid concession, is a privately held Philippine company formed in 2005 specifically to invest in mining, oil and gas and infrastructure investments. Monte Oro is chaired by Walter W. Brown, who is also chair of Philex Mining.
FEC is also Philex Mining's joint-venture partner, through Philex Gold Philippines Inc., in Lascogon Mining Corp. (which is undertaking the Lascogon gold project) where FEC holds a 40-percent stake.
The Lascogon gold project covers 2,306 hectares in Surigao del Norte, Mindanao.
Philex acquires 46% stake in Canadian exploration firm
December 24, 2007
Updated 17:31:57 (Mla time)
Elizabeth Sanchez-Lacson
Philippine Daily Inquirer
PHILEX Mining Corp. is diversifying into new businesses after saying it has spent $5 million to acquire a 46-percent stake in a Canadian company with oil and gas properties.
In a disclosure last Friday, Philex vice president for finance Renato Migrino said Philex Mining bought through a private placement 200 million shares of FEC Resources Inc., a Canadian company which holds a diverse portfolio of oil and gas properties in the Philippines.
FEC holds a 30.6-percent stake in Forum Energy Plc., a British oil, gas and coal company with a portfolio of projects in the country.
Forum Energy was established in April 2005 through the consolidation of the Philippine oil, gas and coal assets of FEC and Sterling Energy Plc of the United Kingdom into one corporate entity.
In April 2006, Forum Energy bought the oil and gas assets of the former Basic Consolidated Inc., now Basic Energy Corp., which included varying interests in nine offshore fields west of the Philippines.
Forum Energy, through wholly owned subsidiary Forum (GSEC 101) Ltd., also signed an agreement with Monte Oro Resources and Energy Inc. to assess the area covered by Geophysical Survey and Exploration Contract 101.
A GSEC is a prelude to a service contract, which allows exploration and drilling activities on oil and gas prospects.
Monte Oro, which is part of the consortium that won the recent bid for the National Transmission Corp. (Transco) power grid concession, is a privately held Philippine company formed in 2005 specifically to invest in mining, oil and gas and infrastructure investments. Monte Oro is chaired by Walter W. Brown, who is also chair of Philex Mining.
FEC is also Philex Mining's joint-venture partner, through Philex Gold Philippines Inc., in Lascogon Mining Corp. (which is undertaking the Lascogon gold project) where FEC holds a 40-percent stake.
The Lascogon gold project covers 2,306 hectares in Surigao del Norte, Mindanao.
............welcome ALLLLLLLLL in 2008
sehen wir nun in 2008 DAS ´come back´ unsrer perle
der heutige handelstag läßt ja erste hoffnung aufkommen......
Times & Sales
Uhrzeit Kurs letztes Volumen kumuliert
21:37:44 0,03 200 307.700
21:04:08 0,04 3.000 307.500
20:23:11 0,04 5.000 304.500
20:22:38 0,03 20.000 299.500
20:22:38 0,038 10.000 279.500
20:22:38 0,04 46.000 269.500
20:21:20 0,037 25.000 223.500
20:18:12 0,037 26.000 198.500
20:11:44 0,03 5.000 172.500
20:11:08 0,03 10.000 167.500
20:06:02 0,03 10.000 157.500
20:05:57 0,03 10.000 147.500
20:05:23 0,0295 59.000 137.500
20:05:17 0,0295 50.000 78.500
19:05:30 0,029 22.500 28.500
19:04:41 0,027 5.000 6.000
15:31:24 0,027 0 1.000
15:31:24 0,027 1.000 1.0
sehen wir nun in 2008 DAS ´come back´ unsrer perle
der heutige handelstag läßt ja erste hoffnung aufkommen......
Times & Sales
Uhrzeit Kurs letztes Volumen kumuliert
21:37:44 0,03 200 307.700
21:04:08 0,04 3.000 307.500
20:23:11 0,04 5.000 304.500
20:22:38 0,03 20.000 299.500
20:22:38 0,038 10.000 279.500
20:22:38 0,04 46.000 269.500
20:21:20 0,037 25.000 223.500
20:18:12 0,037 26.000 198.500
20:11:44 0,03 5.000 172.500
20:11:08 0,03 10.000 167.500
20:06:02 0,03 10.000 157.500
20:05:57 0,03 10.000 147.500
20:05:23 0,0295 59.000 137.500
20:05:17 0,0295 50.000 78.500
19:05:30 0,029 22.500 28.500
19:04:41 0,027 5.000 6.000
15:31:24 0,027 0 1.000
15:31:24 0,027 1.000 1.0
Antwort auf Beitrag Nr.: 32.921.145 von hbg55 am 02.01.08 22:58:48aber die 200 st um 0,03 zum schluss hätten auch nicht mehr sein müssen
Antwort auf Beitrag Nr.: 32.922.419 von schneebe am 03.01.08 09:20:23
.......da haste wohl recht - DAFÜR aber noch
der nachfolg. gruß, der unser babe vielleicht
mal abissl anheizt
.......da haste wohl recht - DAFÜR aber noch
der nachfolg. gruß, der unser babe vielleicht
mal abissl anheizt
Antwort auf Beitrag Nr.: 32.922.845 von hbg55 am 03.01.08 10:09:30das sind wohl die neuen Sekretärinnen von Larry,kein wunder das er abgelenkt ist
Antwort auf Beitrag Nr.: 32.931.582 von hainholz am 03.01.08 20:09:03
......DER glückpilz - wird uns shareholders
hofftl. auch abissl an ´seiner´ freud teilhaben
lassen !!
......DER glückpilz - wird uns shareholders
hofftl. auch abissl an ´seiner´ freud teilhaben
lassen !!
Antwort auf Beitrag Nr.: 32.931.818 von hbg55 am 03.01.08 20:23:32naja,die Chinesen werden es wohl nicht,aber dafür PHILEX Goldmining
sie versprechen sich viel von FEC
Saturday, January 05, 2008
Philex produces gold, copper in December
PHILEX MINING CORP. reported that it extracted less than a billion pesos worth of minerals from its operations last December.
In a disclosure to the Philippine Stock Exchange, Walter W. Brown, Philex chairman and chief executive officer, said the company processed an estimated P823-million worth of copper and gold ore at its Banget flotation facilities last month.
The amount is equivalent to 702,282 dry metric tons of the said ores, which were treated in Philex’s facilities resulting to 6,426 dry metric tons of copper concentrates with equivalent metal content of about 3.5 million pounds copper, 348 thousand grams gold, and 327 thousand grams silver.
The company said it will use internally-sourced funds for its acquisition of $5-million worth of shares in Canadian exploration company FEC Resources Inc.
The amount represents 46 percent of FEC, which has a minority stake in Forum Energy Plc. The British firm has several oil and gas exploration projects in the Philippines.
Philex said that the planned transaction is part of its thrust to invest in “new projects that could sustain future operations not only in mineral exploration but in petroenergy as well.” Besides this venture, Philex earlier acquired a small stake in United States-based Pitkin Petroleum Ltd. as part of its plans to expand its energy portfolio.
Pitkin Petroleum is an exploration firm producing on a small-scale basis in Louisiana but with assets in offshore Vietnam and Peru.
The company’s drilling activities in an exploration bloc in Vietnam, where it has a 40-percent stake, are scheduled to commence by 2009.
Philex’s shares closed higher in Friday’s trading at P10 from P9.90 the previous day.
-- Euan Paulo C. Añonuevo
sie versprechen sich viel von FEC
Saturday, January 05, 2008
Philex produces gold, copper in December
PHILEX MINING CORP. reported that it extracted less than a billion pesos worth of minerals from its operations last December.
In a disclosure to the Philippine Stock Exchange, Walter W. Brown, Philex chairman and chief executive officer, said the company processed an estimated P823-million worth of copper and gold ore at its Banget flotation facilities last month.
The amount is equivalent to 702,282 dry metric tons of the said ores, which were treated in Philex’s facilities resulting to 6,426 dry metric tons of copper concentrates with equivalent metal content of about 3.5 million pounds copper, 348 thousand grams gold, and 327 thousand grams silver.
The company said it will use internally-sourced funds for its acquisition of $5-million worth of shares in Canadian exploration company FEC Resources Inc.
The amount represents 46 percent of FEC, which has a minority stake in Forum Energy Plc. The British firm has several oil and gas exploration projects in the Philippines.
Philex said that the planned transaction is part of its thrust to invest in “new projects that could sustain future operations not only in mineral exploration but in petroenergy as well.” Besides this venture, Philex earlier acquired a small stake in United States-based Pitkin Petroleum Ltd. as part of its plans to expand its energy portfolio.
Pitkin Petroleum is an exploration firm producing on a small-scale basis in Louisiana but with assets in offshore Vietnam and Peru.
The company’s drilling activities in an exploration bloc in Vietnam, where it has a 40-percent stake, are scheduled to commence by 2009.
Philex’s shares closed higher in Friday’s trading at P10 from P9.90 the previous day.
-- Euan Paulo C. Añonuevo
Antwort auf Beitrag Nr.: 32.949.801 von hainholz am 05.01.08 14:49:15
.....thx HAIN
hört sich nicht übel an - dann wolln wir mal abwarten
welch taten folgen !!!!
evtl. erweist sich PHILEX- einstieg für beide seiten
als glücksfall........und UNSREN auch
.....thx HAIN
hört sich nicht übel an - dann wolln wir mal abwarten
welch taten folgen !!!!
evtl. erweist sich PHILEX- einstieg für beide seiten
als glücksfall........und UNSREN auch
Antwort auf Beitrag Nr.: 32.951.270 von hbg55 am 05.01.08 17:24:23Wednesday, January 09, 2008
Philex ships second batch of copper,
gold to Japan
Philex Mining Corp. has completed its shipment of copper and gold to Japan, which was originally scheduled in December last year, the listed firm reported.
In a disclosure, Philex said it has effected the second shipment to Japan on January 6, 2008.
Walter W. Brown, Philex chairman and CEO, said “the shipment was due for lifting about the end of December 2007 but was rescheduled because of port congestion in Sagonoseki, Japan.”
The second shipment contains 5,081 dry metric tons of copper concentrates consisting of some 2.8 million pounds of copper and 8,787 ounces of gold worth an estimated P629 million.
The company’s first shipment of copper and gold on December 15 had an estimated value of P670 million.
Philex, the country’s biggest gold and copper producer, recently expanded its portfolio to include energy-related businesses to ensure the sustainability of its future operations in mineral and petroenergy exploration.
It recently bought into FEC Resources, Inc., a stakeholder in UK-listed Forum Energy Plc., which has several oil and gas exploration projects in the country.
Philex ships second batch of copper,
gold to Japan
Philex Mining Corp. has completed its shipment of copper and gold to Japan, which was originally scheduled in December last year, the listed firm reported.
In a disclosure, Philex said it has effected the second shipment to Japan on January 6, 2008.
Walter W. Brown, Philex chairman and CEO, said “the shipment was due for lifting about the end of December 2007 but was rescheduled because of port congestion in Sagonoseki, Japan.”
The second shipment contains 5,081 dry metric tons of copper concentrates consisting of some 2.8 million pounds of copper and 8,787 ounces of gold worth an estimated P629 million.
The company’s first shipment of copper and gold on December 15 had an estimated value of P670 million.
Philex, the country’s biggest gold and copper producer, recently expanded its portfolio to include energy-related businesses to ensure the sustainability of its future operations in mineral and petroenergy exploration.
It recently bought into FEC Resources, Inc., a stakeholder in UK-listed Forum Energy Plc., which has several oil and gas exploration projects in the country.
Zur Zeit schaut alles nach manipulierter Geldvernichtung aus.Wer steht hinter dem manipulierten Kurs?.......wer ist der Nutznießer?
ist schon ein scheiß Spel was hier abläuft.................wer sammelt klammheimlich ein?...ich sehe nur einen Kandidaten der in Frage kommt !!!!!!!!!!
ist schon ein scheiß Spel was hier abläuft.................wer sammelt klammheimlich ein?...ich sehe nur einen Kandidaten der in Frage kommt !!!!!!!!!!
reiche ein i nach
Larry.... ein Märchen-Erzähler........oder sehe ich das falsch???
Etwas zum lesen,
Geschäftsjahresende 31.12.2005 31.12.2004 Währung
Umsatz 0 0 CAD
Operatives Ergebnis -3.336.180 -3.338.135 CAD
Abschreibungen 1.047 268.185 CAD
Zinsergebnis 0 0 CAD
Ergebnis vor Steuern (EBIT) -4.106.191 -7.182.036 CAD
Jahresüberschuß 20.712.268 -7.219.068 CAD
Ausschüttungssumme 0 0 CAD
Geschäftsjahresende 31.12.2005 31.12.2004 Währung
Liquide Mittel 23.282.962 422.547 CAD
Umlaufvermögen 23.371.165 504.230 CAD
Anlagevermögen 876.143 6.766.692 CAD
Kurzfristige Verbindlichkeiten 174.561 1.502.545 CAD
Langfristige Verbindlichkeiten 2.709.775 7.921.184 CAD
Gesamtverbindlichkeiten 2.884.336 9.423.729 CAD
Eigenkapital 21.362.972 -2.152.807 CAD
neuere Zahlen habe ich leider nicht,
Grüße
Geschäftsjahresende 31.12.2005 31.12.2004 Währung
Umsatz 0 0 CAD
Operatives Ergebnis -3.336.180 -3.338.135 CAD
Abschreibungen 1.047 268.185 CAD
Zinsergebnis 0 0 CAD
Ergebnis vor Steuern (EBIT) -4.106.191 -7.182.036 CAD
Jahresüberschuß 20.712.268 -7.219.068 CAD
Ausschüttungssumme 0 0 CAD
Geschäftsjahresende 31.12.2005 31.12.2004 Währung
Liquide Mittel 23.282.962 422.547 CAD
Umlaufvermögen 23.371.165 504.230 CAD
Anlagevermögen 876.143 6.766.692 CAD
Kurzfristige Verbindlichkeiten 174.561 1.502.545 CAD
Langfristige Verbindlichkeiten 2.709.775 7.921.184 CAD
Gesamtverbindlichkeiten 2.884.336 9.423.729 CAD
Eigenkapital 21.362.972 -2.152.807 CAD
neuere Zahlen habe ich leider nicht,
Grüße
hat jemand einen kausalen zusammenhand zu FEC, was ist der momentane zustand, bzw.wie schaut die zukünftige aussicht aus?
ich bin z. Z. uninformiert!
ich bitte euch um aufklärung. Danke
ich bin z. Z. uninformiert!
ich bitte euch um aufklärung. Danke
ist es möglich dass es wirklich nichts neues zu vermelden gibt?
das macht mich langsam nachdenklich...........
das macht mich langsam nachdenklich...........
hi
es soll ja dieses Frühjahr die Förderung beginnen,aber sonst auch nichts weiter bekannt
es soll ja dieses Frühjahr die Förderung beginnen,aber sonst auch nichts weiter bekannt
mal was neues entdeckt
Money / Top Stories Type Size: (+) (-)
You are here: Home > Business > Money > Top Stories
ARTICLE SERVICES
Reprint this article Print this article
Send as an e-mail Send Feedback
Comment on this article on our Vox Populi blog
RELATED STORIES
Gold, platinum hit record on oil, supply fears
Oil back above $100, eyes on economy
Venezuela pays oil companies $1.8B for assets
Oil prices hit new record of 101.32 dollars a barrel
Nido sets $70-M capex for ’08
Gunmen kidnap oil worker in Nigeria -- firm
Inflation fears dent Asian stocks as oil tops $100
Commodities near records, still a safe haven in choppy seas
Oil eases from record levels in Asian morning trade
In This Section Most Emailed Most Read Peso nears 8-yr high of 40.40 to $1
Trade deficit hit $5.05B in 2007
4th Galoc well starts flowing oil
Flurry of buybacks hits PSE as stock prices falter
Filipino Net users among most upbeat consumers
DoE to award 7 oil exploration contracts
Gov’t rejects all bids for 7-year bonds
More Stories » Business
The success story of Philamlife--Part I
How much to set aside for a rainy-day fund
Banks ready P14B for Skyway
Can we defy gravity in 2008?
A little goes a long way
Aetas join 'biotech revolution'
P200M for modernizing gov’t telecom office
How to buy jewelry
Premiere to acquire online gaming firm
ODA funding for 11 projects 'on hold'
Business
How much to set aside for a rainy-day fund
(UPDATE) 2007 trade deficit balloons to $5.04B
PAL boosts summer flights, adds 3 new China points
Oil pushes past $100; eyes on OPEC, weather
BDO to issue P15-B Tier 2 debt
Shares close flat on political concerns
Banks ready P14B for Skyway
The success story of Philamlife--Part I
A little goes a long way
Can we defy gravity in 2008?
2007 sales of tuna products hit P1.6B
4th Galoc well starts flowing oil
Business Most Read RSS
Hottest TagsOil & Gas - Upstream activities
WHAT'S THIS? More >>
Galoc expects to draw first oil in March or April
By Abigail L. Ho
Philippine Daily Inquirer
First Posted 00:51:00 02/22/2008
MANILA, Philippines -- Galoc Production Co., operator of the Galoc oil field off northwest Palawan, said it was on track to producing first oil by late March or early April, following successful flow testing of the Galoc 3 well last Wednesday.
“Construction of the Galoc 3 development well has been completed, and the well has been flowed to the drill rig,” said the operator that holds Service Contract 14C. “This flow has confirmed both well integrity and the ability to flow to the FPSO [floating production storage and offloading facility] prior to departure of the drill rig.”
The flow testing program will allow the Galoc field operator to have a clearer estimate of how much oil the wells there can eventually produce.
The company said well testing to establish potential oil flow would take place after hook-up to the FPSO. First oil is expected to be drawn between March 28 and April 18.
The flow data that the SC 14C consortium got were “fully consistent with anticipated well performance associated with the operator’s mean reserves estimate, undertaken in 2006, of approximately 10 million barrels.”
Independent appraiser Gaffney, Cline and Associates said production rate at the Galoc field was estimated to reach as high as 23,000 barrels a day, on average, in the first year of production.
Galoc Production owns 58.29 percent of SC 14, while Australia-based Nido Petroleum Ltd. owns 22.28 percent. Another Australian firm, Otto Energy Ltd., recently acquired an 18.28 percent interest.
Nido chairman David Whitby expressed high hopes for the Galoc oil field, describing Galoc 4 as “a well that everybody dreams of.”
“Right now, the Philippines is the country to be in Southeast Asia, in terms of oil and gas exploration. The industry’s time has come. The Philippines is the place to play,” he said. Edited by INQUIRER.net
Money / Top Stories Type Size: (+) (-)
You are here: Home > Business > Money > Top Stories
ARTICLE SERVICES
Reprint this article Print this article
Send as an e-mail Send Feedback
Comment on this article on our Vox Populi blog
RELATED STORIES
Gold, platinum hit record on oil, supply fears
Oil back above $100, eyes on economy
Venezuela pays oil companies $1.8B for assets
Oil prices hit new record of 101.32 dollars a barrel
Nido sets $70-M capex for ’08
Gunmen kidnap oil worker in Nigeria -- firm
Inflation fears dent Asian stocks as oil tops $100
Commodities near records, still a safe haven in choppy seas
Oil eases from record levels in Asian morning trade
In This Section Most Emailed Most Read Peso nears 8-yr high of 40.40 to $1
Trade deficit hit $5.05B in 2007
4th Galoc well starts flowing oil
Flurry of buybacks hits PSE as stock prices falter
Filipino Net users among most upbeat consumers
DoE to award 7 oil exploration contracts
Gov’t rejects all bids for 7-year bonds
More Stories » Business
The success story of Philamlife--Part I
How much to set aside for a rainy-day fund
Banks ready P14B for Skyway
Can we defy gravity in 2008?
A little goes a long way
Aetas join 'biotech revolution'
P200M for modernizing gov’t telecom office
How to buy jewelry
Premiere to acquire online gaming firm
ODA funding for 11 projects 'on hold'
Business
How much to set aside for a rainy-day fund
(UPDATE) 2007 trade deficit balloons to $5.04B
PAL boosts summer flights, adds 3 new China points
Oil pushes past $100; eyes on OPEC, weather
BDO to issue P15-B Tier 2 debt
Shares close flat on political concerns
Banks ready P14B for Skyway
The success story of Philamlife--Part I
A little goes a long way
Can we defy gravity in 2008?
2007 sales of tuna products hit P1.6B
4th Galoc well starts flowing oil
Business Most Read RSS
Hottest TagsOil & Gas - Upstream activities
WHAT'S THIS? More >>
Galoc expects to draw first oil in March or April
By Abigail L. Ho
Philippine Daily Inquirer
First Posted 00:51:00 02/22/2008
MANILA, Philippines -- Galoc Production Co., operator of the Galoc oil field off northwest Palawan, said it was on track to producing first oil by late March or early April, following successful flow testing of the Galoc 3 well last Wednesday.
“Construction of the Galoc 3 development well has been completed, and the well has been flowed to the drill rig,” said the operator that holds Service Contract 14C. “This flow has confirmed both well integrity and the ability to flow to the FPSO [floating production storage and offloading facility] prior to departure of the drill rig.”
The flow testing program will allow the Galoc field operator to have a clearer estimate of how much oil the wells there can eventually produce.
The company said well testing to establish potential oil flow would take place after hook-up to the FPSO. First oil is expected to be drawn between March 28 and April 18.
The flow data that the SC 14C consortium got were “fully consistent with anticipated well performance associated with the operator’s mean reserves estimate, undertaken in 2006, of approximately 10 million barrels.”
Independent appraiser Gaffney, Cline and Associates said production rate at the Galoc field was estimated to reach as high as 23,000 barrels a day, on average, in the first year of production.
Galoc Production owns 58.29 percent of SC 14, while Australia-based Nido Petroleum Ltd. owns 22.28 percent. Another Australian firm, Otto Energy Ltd., recently acquired an 18.28 percent interest.
Nido chairman David Whitby expressed high hopes for the Galoc oil field, describing Galoc 4 as “a well that everybody dreams of.”
“Right now, the Philippines is the country to be in Southeast Asia, in terms of oil and gas exploration. The industry’s time has come. The Philippines is the place to play,” he said. Edited by INQUIRER.net
Man sitzt auf einer riesigen Gasblase,
hatt nebenbei Kohle und Gold
und keine Sau interessiert sich für diesen Wert.
Unverständlich das ganze
hatt nebenbei Kohle und Gold
und keine Sau interessiert sich für diesen Wert.
Unverständlich das ganze
Antwort auf Beitrag Nr.: 33.500.158 von 45717 am 28.02.08 10:11:54da hast du voll und ganz recht
Antwort auf Beitrag Nr.: 33.508.248 von hainholz am 28.02.08 20:12:00was macht das Team mit seinen Möglichkeiten?
schlafen die etwa?
null News
es ist zum verzweifeln mit dieser Ungewissheit.....
man kann nichts erahnen.........
ich stehe auf dem Schlach und weiß nicht weiter
hatt jemand eine Info ???
schlafen die etwa?
null News
es ist zum verzweifeln mit dieser Ungewissheit.....
man kann nichts erahnen.........
ich stehe auf dem Schlach und weiß nicht weiter
hatt jemand eine Info ???
Antwort auf Beitrag Nr.: 33.513.672 von 45717 am 29.02.08 11:49:09hi in England z.ZT.21% hoch
man munkelt von guten NEWS Next
http://www.iii.co.uk/investment/detail?code=cotn:FEP.L&dis…
man munkelt von guten NEWS Next
http://www.iii.co.uk/investment/detail?code=cotn:FEP.L&dis…
Dear Shareholder
Forum continues to make progress, working its assets and conserving its cash
with the objective of realising shareholder value through its prime asset, the
GSEC101 block containing the Sampaguita gas discovery.
With production from the Galoc field and judicious farm-outs the Company is
positioned to be able to fund its work programs through 2008 and beyond and
looks to progress positively in the coming months. It remains open to, and is
actively seeking, additional business opportunities to provide value but sees
these as being consummated to maximum shareholder benefit once the service
contract on GSEC101 is awarded. With the recent farm out to Monte Oro Resources
& Energy, Inc. we are optimistic that a service contract award will be
forthcoming in the near future.
na dann sollte es bald mal losgehen
vielleicht diese Woche NEWS
Forum continues to make progress, working its assets and conserving its cash
with the objective of realising shareholder value through its prime asset, the
GSEC101 block containing the Sampaguita gas discovery.
With production from the Galoc field and judicious farm-outs the Company is
positioned to be able to fund its work programs through 2008 and beyond and
looks to progress positively in the coming months. It remains open to, and is
actively seeking, additional business opportunities to provide value but sees
these as being consummated to maximum shareholder benefit once the service
contract on GSEC101 is awarded. With the recent farm out to Monte Oro Resources
& Energy, Inc. we are optimistic that a service contract award will be
forthcoming in the near future.
na dann sollte es bald mal losgehen
vielleicht diese Woche NEWS
Antwort auf Beitrag Nr.: 33.531.379 von hainholz am 03.03.08 09:14:28Das hoffen wohl alle investiere..........
hoffen wir mal auf bessere Zeiten,
versprochen wurde schon viel,
zuviel meine ich,
mal sehen was von dieser Aussage übrig bleibt
bin ziemlich entäuscht von unserem Ceo
Grüße
hoffen wir mal auf bessere Zeiten,
versprochen wurde schon viel,
zuviel meine ich,
mal sehen was von dieser Aussage übrig bleibt
bin ziemlich entäuscht von unserem Ceo
Grüße
FEC Partner Philex gut dabei ,die verstehen ihr Handwerk und deshalb sollte Lascogan auch was werden.
Philex precious metals output hits P907M
Philippine Daily Inquirer
First Posted 00:13:00 03/06/2008
Philex Mining Corp. announced Wednesday that it produced copper, gold and silver volumes worth a total of P907 million in February.
In a disclosure to the Philippine Stock Exchange, company chairman and chief executive Walter Brown said the metals were extracted from 764,721 tons of copper/gold ore that was treated at its Banget flotation facilities.
Brown said the processed ores yielded 7,098 dry metric tons (DMT) of copper concentrates averaging 22.6 percent copper, 51.99 grams of gold per DMT, and 48.21 grams of silver per DMT.
These figures are equivalent to 1,604,325 kilos of copper, 371,389 grams of gold and 342,386 grams of silver.
Philex Mining ships the metals to Japan where these would be smelted in the facilities of Pan Pacific Cooper Co. Ltd. in Kyushu Island.
Philex Mining owns 81 percent of Toronto-listed Philex Gold Inc., which owns Philex Gold Philippines Inc., owner of gold mine assets including the Bulawan mine in Negros Occidental provice. Ronnel W. Domingo
Philex precious metals output hits P907M
Philippine Daily Inquirer
First Posted 00:13:00 03/06/2008
Philex Mining Corp. announced Wednesday that it produced copper, gold and silver volumes worth a total of P907 million in February.
In a disclosure to the Philippine Stock Exchange, company chairman and chief executive Walter Brown said the metals were extracted from 764,721 tons of copper/gold ore that was treated at its Banget flotation facilities.
Brown said the processed ores yielded 7,098 dry metric tons (DMT) of copper concentrates averaging 22.6 percent copper, 51.99 grams of gold per DMT, and 48.21 grams of silver per DMT.
These figures are equivalent to 1,604,325 kilos of copper, 371,389 grams of gold and 342,386 grams of silver.
Philex Mining ships the metals to Japan where these would be smelted in the facilities of Pan Pacific Cooper Co. Ltd. in Kyushu Island.
Philex Mining owns 81 percent of Toronto-listed Philex Gold Inc., which owns Philex Gold Philippines Inc., owner of gold mine assets including the Bulawan mine in Negros Occidental provice. Ronnel W. Domingo
Glabe, Liebe,Hoffnung...................................usw.
da hatt doch njemand wegen 144Euro die Nerveen verloren .....lächerlich..............
Wie weit mag dieses Papier denn noch fallen?
Es ist für mich völlig unverständlich was hier so abgeht, man ist im Besitz von Weltklasse Gaslager sowie Gold und Kohle und der Wert geht immer weiter nach unten, begeife das wer will, ich kann mir diese Situation nicht erkären
auch nicht mit good will !!!
Es ist für mich völlig unverständlich was hier so abgeht, man ist im Besitz von Weltklasse Gaslager sowie Gold und Kohle und der Wert geht immer weiter nach unten, begeife das wer will, ich kann mir diese Situation nicht erkären
auch nicht mit good will !!!
Antwort auf Beitrag Nr.: 33.726.570 von hbg55 am 26.03.08 10:14:09 ich versuche den ganzen Morgen zu erforschen ob es neue Nachrichten gibt........negativ.
es ist zum kotzen.......
es ist zum kotzen.......
bin fett in den roten.............
Antwort auf Beitrag Nr.: 33.726.762 von 45717 am 26.03.08 10:31:31
.....DAS ist hier ´noch´ unser gemeinsames
schicksal......wird sich hofftl. mal ändern !!!
.....DAS ist hier ´noch´ unser gemeinsames
schicksal......wird sich hofftl. mal ändern !!!
Antwort auf Beitrag Nr.: 33.726.785 von hbg55 am 26.03.08 10:33:38
und wie?
aussitzen .........mehr bleibt uns nicht, obwohl ich mit einer ordentlichen und nennenswerte Summe engagiert bin und mächtig in der roten bin wäre es dumm den Verlust zu realisieren, aussitzen ist angesagt,leider..........
Gruß
und wie?
aussitzen .........mehr bleibt uns nicht, obwohl ich mit einer ordentlichen und nennenswerte Summe engagiert bin und mächtig in der roten bin wäre es dumm den Verlust zu realisieren, aussitzen ist angesagt,leider..........
Gruß
Antwort auf Beitrag Nr.: 33.727.252 von 45717 am 26.03.08 11:15:39
..SOOOOOOOOO ists..........und aufn wunder hoffen !!!
..SOOOOOOOOO ists..........und aufn wunder hoffen !!!
Antwort auf Beitrag Nr.: 33.727.490 von hbg55 am 26.03.08 11:38:35ja Leute, es ist wie es ist,abwarten und abwarten und hoffen.
Antwort auf Beitrag Nr.: 33.730.930 von hainholz am 26.03.08 16:12:08Hallo Heinholz
Dass aber so garnichts verlautbar wird ist schon merkwürdig.......
Was treibt die Geschäftsführung den ganzen Tag....
Däumchen drehen oder was?
Wie hieß es 2007....es sollte ein sehr gutes Jahr werden für den Aktionär............
das nötigt mir ein gequältes Lächeln ab.
..
Gruß
Dass aber so garnichts verlautbar wird ist schon merkwürdig.......
Was treibt die Geschäftsführung den ganzen Tag....
Däumchen drehen oder was?
Wie hieß es 2007....es sollte ein sehr gutes Jahr werden für den Aktionär............
das nötigt mir ein gequältes Lächeln ab.
..
Gruß
Trotz allem 30% hoch heut !!!
Deine Hoffnung in Gottes Gehöhrgang oder so ähnlich...............
Hoffnung ist das letzte vor der Pleite,oder sehe ich das falsch?
Totalverlustb vorprogramiert???
Hoffnung ist das letzte vor der Pleite,oder sehe ich das falsch?
Totalverlustb vorprogramiert???
Antwort auf Beitrag Nr.: 33.758.054 von 45717 am 29.03.08 14:56:26es ist halt spekulation ,entweder sie geht auf oder eben nicht
ohne News
35% auffi in USA
kommt vielleicht was?
35% auffi in USA
kommt vielleicht was?
Antwort auf Beitrag Nr.: 33.802.092 von hainholz am 03.04.08 18:30:05
was sind 35 % von nichts?
was sind 35 % von nichts?
Antwort auf Beitrag Nr.: 33.802.092 von hainholz am 03.04.08 18:30:05
habe mein invest emotional schon abgeschrieben, habe es in der hintersten ecke des keller vergraben.
kommt was.........gut
kommt nichts ......auch gut
nur schade um die kohle.......
habe mein invest emotional schon abgeschrieben, habe es in der hintersten ecke des keller vergraben.
kommt was.........gut
kommt nichts ......auch gut
nur schade um die kohle.......
der Goldsektor auf den Philippinen hat eine gute Zukunft!
AFX UK Focus) 2008-04-11 11:33 GMT:
Philippines sees mining sector growing five-fold in four years
Article layout: raw
MANILA (Thomson Financial) - The Philippine mining sector is expected to grow five-fold over the next four years, Environment and Natural Resources Secretary Joselito Atienza said Friday.
"The bulk of the projected investments are expected to come in between 2008 and 2010 when the bigger, world-class mining investors progress to the construction and development stages," he said in a statement.
Manila has approved 40 mining processing and exploration projects with a total $1.4 billion in investments from 2004 to end-2007, it said.
These have potential additional investments of another $9 billion up to 2011 for a total of $10.4 billion, he added.
Copper production should rise four times from 216,000 dry tonnes in 2007 to 830,000 dry tonnes in 2008, while chromite would almost double from 37,000 dry tonnes to 63,000 dry tonnes for the same period, he said.
Gold output would double from 1.2 million to 2.7 million ounces, while silver will shoot up six times from 0.89 million ounces to 5 million ounces, he added.
He said direct nickel ore production is expected to slow down by about 20 percent but nickel concentrate production will improve by almost 10 times, with additional nickel processing plants coming on stream.
By 2011, the government also expects to have cobalt and zinc production of 4,500 tonnes and 20,000 tonnes, respectively. Ferronickel production is projected at 50,000 tonnes, while annual calcined nickel ore output would be around 300,000 tonnes.
"The rise in production volume will expectedly raise the production value of the minerals industry, which is seen to reach over $10 billion, almost five times that of 2007's $3 billion," he said.
"It is expected that at such level, the Philippine minerals industry's contribution to Philippine exports will be in the vicinity of 6.5 percent, enough for the Philippines to be classified as a mining country'" based on World Bank standards, he added.
The statement said Atienza is attending an Asia Mining Congress in Singapore.
Of 63 projects approved by the government, 10 are in production while eight more are expected to go on stream within the year and in early 2009, he said.
Manila launched a programme to revive the minerals industry in 2003 with the passage of a new mining code that opened up the sector to foreign investment
AFX UK Focus) 2008-04-11 11:33 GMT:
Philippines sees mining sector growing five-fold in four years
Article layout: raw
MANILA (Thomson Financial) - The Philippine mining sector is expected to grow five-fold over the next four years, Environment and Natural Resources Secretary Joselito Atienza said Friday.
"The bulk of the projected investments are expected to come in between 2008 and 2010 when the bigger, world-class mining investors progress to the construction and development stages," he said in a statement.
Manila has approved 40 mining processing and exploration projects with a total $1.4 billion in investments from 2004 to end-2007, it said.
These have potential additional investments of another $9 billion up to 2011 for a total of $10.4 billion, he added.
Copper production should rise four times from 216,000 dry tonnes in 2007 to 830,000 dry tonnes in 2008, while chromite would almost double from 37,000 dry tonnes to 63,000 dry tonnes for the same period, he said.
Gold output would double from 1.2 million to 2.7 million ounces, while silver will shoot up six times from 0.89 million ounces to 5 million ounces, he added.
He said direct nickel ore production is expected to slow down by about 20 percent but nickel concentrate production will improve by almost 10 times, with additional nickel processing plants coming on stream.
By 2011, the government also expects to have cobalt and zinc production of 4,500 tonnes and 20,000 tonnes, respectively. Ferronickel production is projected at 50,000 tonnes, while annual calcined nickel ore output would be around 300,000 tonnes.
"The rise in production volume will expectedly raise the production value of the minerals industry, which is seen to reach over $10 billion, almost five times that of 2007's $3 billion," he said.
"It is expected that at such level, the Philippine minerals industry's contribution to Philippine exports will be in the vicinity of 6.5 percent, enough for the Philippines to be classified as a mining country'" based on World Bank standards, he added.
The statement said Atienza is attending an Asia Mining Congress in Singapore.
Of 63 projects approved by the government, 10 are in production while eight more are expected to go on stream within the year and in early 2009, he said.
Manila launched a programme to revive the minerals industry in 2003 with the passage of a new mining code that opened up the sector to foreign investment
Antwort auf Beitrag Nr.: 33.867.941 von hainholz am 11.04.08 16:33:31Man kann nur den Kopf schütteln über diese Info-Flaute!
Was treiben diese Herrschaften den ganzen Tag?
Grüße
Was treiben diese Herrschaften den ganzen Tag?
Grüße
Antwort auf Beitrag Nr.: 33.925.565 von 45717 am 19.04.08 14:11:27wenigstens gibt es bei FORUM ENERGY wieder mal was:
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNew…
wir werden sehen was uns dieses jahr bringt
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNew…
wir werden sehen was uns dieses jahr bringt
Antwort auf Beitrag Nr.: 34.018.903 von schneebe am 02.05.08 20:00:192.quartal,also jetzt geht es los auf GSEC 101!!
na schaun wir mal
na schaun wir mal
Antwort auf Beitrag Nr.: 34.018.903 von schneebe am 02.05.08 20:00:19aus einen GB thread
Looking good for the future, they have near term production from this month at record oil prices , another farm out agreement and confidence about their super gas field. No downside here i can see, with a Market cap of only 8M pounds. They still have 6M dollars in bank from their report out today. Good luck to all you budding millionaires.
--------------------------------------------------------------------------------
Looking good for the future, they have near term production from this month at record oil prices , another farm out agreement and confidence about their super gas field. No downside here i can see, with a Market cap of only 8M pounds. They still have 6M dollars in bank from their report out today. Good luck to all you budding millionaires.
--------------------------------------------------------------------------------
Antwort auf Beitrag Nr.: 34.019.898 von hainholz am 02.05.08 22:23:07Dieser Wert ist bei mir unter der
Rubrik---Totalverlust eingeordnet,
habe keinerlei Zutrauen mehr zu dem Management.
Man kann nur den Kopf schütteln über diese " Herren "
Grüße
Rubrik---Totalverlust eingeordnet,
habe keinerlei Zutrauen mehr zu dem Management.
Man kann nur den Kopf schütteln über diese " Herren "
Grüße
Antwort auf Beitrag Nr.: 34.079.799 von 45717 am 13.05.08 10:06:08wieder aus England
S/P up 6.3% and spread down to just 1p at 34p to buy.....i havent seen that for a long time.... Lots of small buys going through which rarely happens here....so i am assuming some news to be released soon. My only guess is that we will have an update from Nido Petroleum on Galoc oil field. If its positive then the sp will fly to 40p. The Galoc is forecast to produce 15,000 bopd of which FEP has 2.27%. So here's some calculations for you to give a ball on the value of FEP's stake..
15,000 x 365 days = 5,475,000 barrels of oil in a year
5,475,000 x $125 per barrel of oil = $684.4MM of revenues x 2.27% of FEP interest = $15.5MM revenues per year. And what is the market cap of FEP at the moment, just over 10MM..... watching and waiting for an update. Also reading the Annual report again, the Chairman and CEO making some very positive noises about getting the service contract on GSEC101 i.e. after the tri-partite agreement expires in June and interestingly (in case you have missed it), they say several farm in partners have already been identified for this. So my guess is as soon as the s/c is approved, they will announce the farm in partner.... interesting times ahead with a time horizon of 3 months... Seymour
mal sehen,tot gesagte leben länger
S/P up 6.3% and spread down to just 1p at 34p to buy.....i havent seen that for a long time.... Lots of small buys going through which rarely happens here....so i am assuming some news to be released soon. My only guess is that we will have an update from Nido Petroleum on Galoc oil field. If its positive then the sp will fly to 40p. The Galoc is forecast to produce 15,000 bopd of which FEP has 2.27%. So here's some calculations for you to give a ball on the value of FEP's stake..
15,000 x 365 days = 5,475,000 barrels of oil in a year
5,475,000 x $125 per barrel of oil = $684.4MM of revenues x 2.27% of FEP interest = $15.5MM revenues per year. And what is the market cap of FEP at the moment, just over 10MM..... watching and waiting for an update. Also reading the Annual report again, the Chairman and CEO making some very positive noises about getting the service contract on GSEC101 i.e. after the tri-partite agreement expires in June and interestingly (in case you have missed it), they say several farm in partners have already been identified for this. So my guess is as soon as the s/c is approved, they will announce the farm in partner.... interesting times ahead with a time horizon of 3 months... Seymour
mal sehen,tot gesagte leben länger
Antwort auf Beitrag Nr.: 34.087.052 von hainholz am 14.05.08 03:22:41habe heute mal an Larry gemailt und ne prompte Antwort erhalten
Mr. XXXXXXX
I too am very unhappy with the current price of our stock. I suspect it is because we have not issued any news releases in a long time, but I refuse to issue releases when we don’t have anything to say. We have been in a period waiting for some matters to come to fruition and I hope we can issue some positive news.
The tripartite agreement between China, Vietnam and the Philippines, covering FEP’s holdings in GSEC 101, expires the end of june and we are hopeful the service contract will finally be signed shortly after that.
We continue to explore our mining property MPSA 148 and will shortly have an outside independent estimator give us an assessment of how much gold, copper etc. we have there. This we will announce.
I’m hoping the combined effect of these events will move up our stock, because it can’t get much lower.
Regards
Larry Youell
übersetzt babelfish
Herr XXXXXX Ich auch morgens sehr unglücklich mit dem Tagespreis unseres Vorrates. Ich vermute, daß er ist, weil wir keine Nachrichten Freigaben in einer langen Zeit herausgegeben haben, aber ich lehne ab, Freigaben herauszugeben, wenn wir nicht nichts haben zu sagen. Wir sind in einer Periode gewesen, die daß einige Angelegenheiten wartet, verwircklicht werden und ich hoffe, wir etwas positive Nachrichten herausgeben können. Das Dreier-Übereinkommen zwischen China, Vietnam und den Philippinen, Holdings FEPs in GSEC 101 umfassend, läuft das Ende Juni ab und wir sind der Service-Vertrag werden schließlich unterzeichnet kurz nach dem hoffnungsvoll. Wir fahren fort, unsere gewinneneigenschaft MPSA 148 zu erforschen und werden kurz einen Außenseite unabhängigen Abschätzer uns eine Einschätzung, wieviel Goldes, kupfernen etc. geben lassen wir dort haben. Dieses, das wir verkünden. Ich hoffe, daß der kombinierte Effekt dieser Fälle unseren Vorrat hochschiebt, weil er nicht viel niedriger erhalten kann. Respekt Larry Youell
na dann
Mr. XXXXXXX
I too am very unhappy with the current price of our stock. I suspect it is because we have not issued any news releases in a long time, but I refuse to issue releases when we don’t have anything to say. We have been in a period waiting for some matters to come to fruition and I hope we can issue some positive news.
The tripartite agreement between China, Vietnam and the Philippines, covering FEP’s holdings in GSEC 101, expires the end of june and we are hopeful the service contract will finally be signed shortly after that.
We continue to explore our mining property MPSA 148 and will shortly have an outside independent estimator give us an assessment of how much gold, copper etc. we have there. This we will announce.
I’m hoping the combined effect of these events will move up our stock, because it can’t get much lower.
Regards
Larry Youell
übersetzt babelfish
Herr XXXXXX Ich auch morgens sehr unglücklich mit dem Tagespreis unseres Vorrates. Ich vermute, daß er ist, weil wir keine Nachrichten Freigaben in einer langen Zeit herausgegeben haben, aber ich lehne ab, Freigaben herauszugeben, wenn wir nicht nichts haben zu sagen. Wir sind in einer Periode gewesen, die daß einige Angelegenheiten wartet, verwircklicht werden und ich hoffe, wir etwas positive Nachrichten herausgeben können. Das Dreier-Übereinkommen zwischen China, Vietnam und den Philippinen, Holdings FEPs in GSEC 101 umfassend, läuft das Ende Juni ab und wir sind der Service-Vertrag werden schließlich unterzeichnet kurz nach dem hoffnungsvoll. Wir fahren fort, unsere gewinneneigenschaft MPSA 148 zu erforschen und werden kurz einen Außenseite unabhängigen Abschätzer uns eine Einschätzung, wieviel Goldes, kupfernen etc. geben lassen wir dort haben. Dieses, das wir verkünden. Ich hoffe, daß der kombinierte Effekt dieser Fälle unseren Vorrat hochschiebt, weil er nicht viel niedriger erhalten kann. Respekt Larry Youell
na dann
in GB stetig am steigen !!
Antwort auf Beitrag Nr.: 34.137.389 von hainholz am 20.05.08 21:21:50To: All Canadian Securities Regulatory Authorities
Subject: FEC RESOURCES INC.
Dear Sirs:
We advise of the following with respect to the upcoming Meeting of Security Holders for the
subject Issuer:
Meeting Type : Annual General Meeting
Record Date for Notice of Meeting : 02/07/2008
Record Date for Voting (if applicable) : 02/07/2008
Meeting Date : 05/08/2008
Meeting Location (if available) :
Suite 260-1414 8th Street, SW
Calgary, AB
Voting Security Details:
Description CUSIP Number ISIN
COMMON 30246X108 CA30246X1087
Sincerely,
Computershare Trust Company of Canada /
Computershare Investor Services Inc.
Agent for FEC RESOURCES INC.
Subject: FEC RESOURCES INC.
Dear Sirs:
We advise of the following with respect to the upcoming Meeting of Security Holders for the
subject Issuer:
Meeting Type : Annual General Meeting
Record Date for Notice of Meeting : 02/07/2008
Record Date for Voting (if applicable) : 02/07/2008
Meeting Date : 05/08/2008
Meeting Location (if available) :
Suite 260-1414 8th Street, SW
Calgary, AB
Voting Security Details:
Description CUSIP Number ISIN
COMMON 30246X108 CA30246X1087
Sincerely,
Computershare Trust Company of Canada /
Computershare Investor Services Inc.
Agent for FEC RESOURCES INC.
Antwort auf Beitrag Nr.: 34.299.608 von schneebe am 13.06.08 18:19:15den 2. 07 erleben wir auch noch..............nur was können die Herrschaften neues erzählen????
Antwort auf Beitrag Nr.: 34.379.176 von 45717 am 26.06.08 12:08:06RNS Number : 0990Y
Philex Petroleum Corporation
02 July 2008
ANNOUNCEMENT OF MANDATORY OFFER
By Philex Petroleum Corporation
For Shares of Stocks in Forum Energy Plc ("FEP")
Philex Petroleum Corporation ("PPC") hereby announces that following the acquisition yesterday of 4,004,000 FEP ordinary shares, representing approximately 13.94% of the outstanding shares in FEP, at a price of 48 pence for each FEP ordinary shares, it is required to make a mandatory cash offer in accordance with Rule 9 of the City Code on Takeovers and Mergers (the "Code"). The offer will be 48 pence in cash for each FEP ordinary shares.
PPC is a company organized under Philippine law and is owned 51% by Philex Mining Corporation ("PMC"). Amongst other assets PMC currently owns 51% of FEC Resources Inc. ("FEC"), a company listed in NASD OTC Bulletin Board (FECOF) and the Frankfurt and Munich Stock Exchange (FEB). PPC and FEC are therefore presumed to be acting in concert for the purpose of the Code. Among the assets of FEC is a shareholding in FEP of approximately 29.78%.
Further details of the mandatory offer will be contained in the offer document to be sent to shareholders of FEP in due course.
July 2, 2008.
PHILEX PETROLEUM CORPORATION
This information is provided by RNS
The company news service from the London Stock Exchange
END
RNS-Nummer: 0990Y
PHILEX Petroleum Corporation
02. Juli 2008
Ankündigung Pflichtangebot
Mit PHILEX Petroleum Corporation
Für Anteile der Bestände im Forum Energy plc ( "FEP")
PHILEX Petroleum Corporation ( "PPC") für Recht erkannt und kündigt an, dass nach der Übernahme von gestern 4004000 FEP-Stammaktien, was rund 13,94% der ausstehenden Aktien im FEP, zu einem Preis von 48 Pence für jede Stammaktie FEP, ist es erforderlich, einen obligatorischen Barangebot in Übereinstimmung mit Artikel 9 der Stadt Code auf Übernahmen und Fusionen (der "Kodex"). Das Angebot wird 48 Pence in bar je FEP-Stammaktien.
PPC ist eine Firma, organisiert unter philippinischen Recht und ist im Besitz von 51% Philex Mining Corporation ( "PMC"). Unter anderem PMC Vermögenswerte besitzt derzeit 51% von FEC Resources Inc. ( "FEC"), ein Unternehmen in NASD OTC Bulletin Board (FECOF) und der Frankfurter und Münchner Wertpapierbörse (FEB). PPC und FEC sind daher vermutet, daß die in Verabredung handeln, für die Zwecke des Kodex. Zu den Vermögenswerten von FEC ist eine Beteiligung an FEP von rund 29,78%.
Weitere Einzelheiten der verbindlichen Angebot wird in der Angebotsunterlage zu richten an die Aktionäre der FEP zu gegebener Zeit.
2. Juli 2008.
PHILEX Petroleum Corporation
Diese Informationen werden zur Verfügung gestellt von RNS
Das Unternehmen News Service aus der London Stock Exchange
ENDE
Philex Petroleum Corporation
02 July 2008
ANNOUNCEMENT OF MANDATORY OFFER
By Philex Petroleum Corporation
For Shares of Stocks in Forum Energy Plc ("FEP")
Philex Petroleum Corporation ("PPC") hereby announces that following the acquisition yesterday of 4,004,000 FEP ordinary shares, representing approximately 13.94% of the outstanding shares in FEP, at a price of 48 pence for each FEP ordinary shares, it is required to make a mandatory cash offer in accordance with Rule 9 of the City Code on Takeovers and Mergers (the "Code"). The offer will be 48 pence in cash for each FEP ordinary shares.
PPC is a company organized under Philippine law and is owned 51% by Philex Mining Corporation ("PMC"). Amongst other assets PMC currently owns 51% of FEC Resources Inc. ("FEC"), a company listed in NASD OTC Bulletin Board (FECOF) and the Frankfurt and Munich Stock Exchange (FEB). PPC and FEC are therefore presumed to be acting in concert for the purpose of the Code. Among the assets of FEC is a shareholding in FEP of approximately 29.78%.
Further details of the mandatory offer will be contained in the offer document to be sent to shareholders of FEP in due course.
July 2, 2008.
PHILEX PETROLEUM CORPORATION
This information is provided by RNS
The company news service from the London Stock Exchange
END
RNS-Nummer: 0990Y
PHILEX Petroleum Corporation
02. Juli 2008
Ankündigung Pflichtangebot
Mit PHILEX Petroleum Corporation
Für Anteile der Bestände im Forum Energy plc ( "FEP")
PHILEX Petroleum Corporation ( "PPC") für Recht erkannt und kündigt an, dass nach der Übernahme von gestern 4004000 FEP-Stammaktien, was rund 13,94% der ausstehenden Aktien im FEP, zu einem Preis von 48 Pence für jede Stammaktie FEP, ist es erforderlich, einen obligatorischen Barangebot in Übereinstimmung mit Artikel 9 der Stadt Code auf Übernahmen und Fusionen (der "Kodex"). Das Angebot wird 48 Pence in bar je FEP-Stammaktien.
PPC ist eine Firma, organisiert unter philippinischen Recht und ist im Besitz von 51% Philex Mining Corporation ( "PMC"). Unter anderem PMC Vermögenswerte besitzt derzeit 51% von FEC Resources Inc. ( "FEC"), ein Unternehmen in NASD OTC Bulletin Board (FECOF) und der Frankfurter und Münchner Wertpapierbörse (FEB). PPC und FEC sind daher vermutet, daß die in Verabredung handeln, für die Zwecke des Kodex. Zu den Vermögenswerten von FEC ist eine Beteiligung an FEP von rund 29,78%.
Weitere Einzelheiten der verbindlichen Angebot wird in der Angebotsunterlage zu richten an die Aktionäre der FEP zu gegebener Zeit.
2. Juli 2008.
PHILEX Petroleum Corporation
Diese Informationen werden zur Verfügung gestellt von RNS
Das Unternehmen News Service aus der London Stock Exchange
ENDE
Antwort auf Beitrag Nr.: 34.418.983 von schneebe am 02.07.08 10:39:15RNS Number : 0997Y
Forum Energy Plc
02 July 2008
2 July 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
FOR IMMEDIATE RELEASE
Forum Energy Plc ("Forum" or the "Company")
Response to mandatory offer
The Board of Forum notes the announcement made this morning by Philex Petroleum Corporation of its intention to proceed with a mandatory offer for the Company at a price of 48p per share (the "Offer").
The Board, which is in discussions with its advisers, is considering its position and will advise Forum's shareholders on what action to take in relation to the Offer in due course. Forum shareholders are urged to take no action at this stage.
In accordance with Rule 2.10 of the Takeover Code, as at 2 July 2008, Forum has 28,711,709 ordinary shares of 10p each in issue with International Securities Identification Number GB00B07C1T48.
For further information please contact:
Alan Henderson Tel: +44 (0)1932 445 344
Non-Executive Chairman and acting Chief Executive Officer, Forum Energy Plc
Andrew Mullins Tel: +44 (0)1932 445 344
Company Secretary, Forum Energy Plc
Nick Naylor / Matthew Hall / Jamie Boyd Tel: +44 (0)20 7763 2200
Noble & Company Ltd, Nominated Adviser & Broker
Or visit the Company's website:
www.forumenergyplc.com
RNS-Nummer: 0997Y
Forum Energy plc
02. Juli 2008
2. Juli 2008
Not for release, Veröffentlichung oder Verteilung in ganz oder teilweise, in, in oder von jeder Gerichtsbarkeit, wo dies zu tun würde einen Verstoß gegen die einschlägigen Gesetze solcher zuständig.
ZUR SOFORTIGEN VERÖFFENTLICHUNG
Forum Energy plc ( "Forum" oder das "Unternehmen")
Reaktionen auf Pflichtangebot
Der Vorstand des Forum nimmt die Ankündigung von heute Morgen Philex Petroleum Corporation seiner Absicht in Kenntnis zu setzen ein verbindliches Angebot für die Firma zu einem Preis von 48p pro Aktie (das "Angebot").
Der Verwaltungsrat, der sich in Gesprächen mit seinen Beratern, erwägt, seine Position und wird beraten Forums Aktionäre über das weitere Vorgehen in Bezug auf das Angebot zu gegebener Zeit. Forum Aktionäre werden eindringlich aufgefordert, keine Maßnahmen in diesem Stadium.
In Übereinstimmung mit Artikel 2.10 des Takeover Code, zum 2. Juli 2008, Forum hat 28711709 Stammaktien von 10p in jeder Ausgabe mit den International Securities Identification Number GB00B07C1T48.
Für weitere Informationen wenden Sie sich bitte an:
Alan Henderson Tel: +44 (0) 1932 445 344
Non-Executive Chairman und Handeln Chief Executive Officer, Forum Energy plc
Andrew Mullins Tel: +44 (0) 1932 445 344
Company Secretary, Forum Energy plc
Nick Naylor / Matthew Hall / Jamie Boyd Tel: +44 (0) 20 7763 2200
Noble & Company Ltd, Nominated Adviser und Broker
Oder besuchen Sie die Website des Unternehmens:
www.forumenergyplc.com
Forum Energy Plc
02 July 2008
2 July 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
FOR IMMEDIATE RELEASE
Forum Energy Plc ("Forum" or the "Company")
Response to mandatory offer
The Board of Forum notes the announcement made this morning by Philex Petroleum Corporation of its intention to proceed with a mandatory offer for the Company at a price of 48p per share (the "Offer").
The Board, which is in discussions with its advisers, is considering its position and will advise Forum's shareholders on what action to take in relation to the Offer in due course. Forum shareholders are urged to take no action at this stage.
In accordance with Rule 2.10 of the Takeover Code, as at 2 July 2008, Forum has 28,711,709 ordinary shares of 10p each in issue with International Securities Identification Number GB00B07C1T48.
For further information please contact:
Alan Henderson Tel: +44 (0)1932 445 344
Non-Executive Chairman and acting Chief Executive Officer, Forum Energy Plc
Andrew Mullins Tel: +44 (0)1932 445 344
Company Secretary, Forum Energy Plc
Nick Naylor / Matthew Hall / Jamie Boyd Tel: +44 (0)20 7763 2200
Noble & Company Ltd, Nominated Adviser & Broker
Or visit the Company's website:
www.forumenergyplc.com
RNS-Nummer: 0997Y
Forum Energy plc
02. Juli 2008
2. Juli 2008
Not for release, Veröffentlichung oder Verteilung in ganz oder teilweise, in, in oder von jeder Gerichtsbarkeit, wo dies zu tun würde einen Verstoß gegen die einschlägigen Gesetze solcher zuständig.
ZUR SOFORTIGEN VERÖFFENTLICHUNG
Forum Energy plc ( "Forum" oder das "Unternehmen")
Reaktionen auf Pflichtangebot
Der Vorstand des Forum nimmt die Ankündigung von heute Morgen Philex Petroleum Corporation seiner Absicht in Kenntnis zu setzen ein verbindliches Angebot für die Firma zu einem Preis von 48p pro Aktie (das "Angebot").
Der Verwaltungsrat, der sich in Gesprächen mit seinen Beratern, erwägt, seine Position und wird beraten Forums Aktionäre über das weitere Vorgehen in Bezug auf das Angebot zu gegebener Zeit. Forum Aktionäre werden eindringlich aufgefordert, keine Maßnahmen in diesem Stadium.
In Übereinstimmung mit Artikel 2.10 des Takeover Code, zum 2. Juli 2008, Forum hat 28711709 Stammaktien von 10p in jeder Ausgabe mit den International Securities Identification Number GB00B07C1T48.
Für weitere Informationen wenden Sie sich bitte an:
Alan Henderson Tel: +44 (0) 1932 445 344
Non-Executive Chairman und Handeln Chief Executive Officer, Forum Energy plc
Andrew Mullins Tel: +44 (0) 1932 445 344
Company Secretary, Forum Energy plc
Nick Naylor / Matthew Hall / Jamie Boyd Tel: +44 (0) 20 7763 2200
Noble & Company Ltd, Nominated Adviser und Broker
Oder besuchen Sie die Website des Unternehmens:
www.forumenergyplc.com
Antwort auf Beitrag Nr.: 34.419.006 von schneebe am 02.07.08 10:40:44RNS Number : 1065Y
Sterling Energy PLC
02 July 2008
2 July 2008
STERLING ENERGY PLC
("Sterling" or the "Company")
SALE OF INTEREST IN FORUM ENERGY PLC
Sterling (symbol: SEY), the AIM listed independent oil & gas exploration and production company with interests in the Gulf of Mexico, Africa and the Middle East, today announces the sale of its entire shareholding in AIM listed Forum Energy Plc (FEP).
Sterling has sold all of its 4,004,000 ordinary shares (13.95% interest) in FEP at a price of 48p per ordinary share, representing a 100% premium to the market price of 24p at close of business on 1 July 2008, a net consideration of £1.9 million (approximately $3.8 million).
The Sterling book value of the shares sold was $1.9 million at 31 December 2007.
Chief Executive, Graeme Thomson said:
"Sterling Energy is focussed on a portfolio of high impact prospects, primarily in Kurdistan and Madagascar, whereas FEP with its interests in the Philippines is not core to us. We are divesting of non-core assets, including our USA interests and the cash raised will be used to support the continued development of these key prospects where we are preparing for drilling to commence, as well as to repay our bank debt."
For further information contact:
Sterling Energy Plc (+44 20 7405 4133)
Graeme Thomson, Chief Executive
Harry Wilson, Deputy Chairman
Evolution Securities (+44 20 7071 4300)
Chris Sim
Tim Redfern
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
George Cazenove
This information is provided by RNS
The company news service from the London Stock Exchange
END
RNS-Nummer: 1065Y
Sterling Energy plc
02. Juli 2008
2. Juli 2008
Sterling Energy plc
( "Sterling" oder das "Unternehmen")
Verkauf von Interesse im Forum Energy plc
Sterling (Symbol: SEY), mit dem Ziel aufgeführt unabhängigen Öl-& Gas-Explorations-und Produktions-Unternehmen mit Interessen in der Golf von Mexiko, Afrika und dem Nahen Osten, kündigt heute den Verkauf seiner gesamten Beteiligung an der börsennotierten AIM-Forum Energy plc (FEP).
Sterling verkauft hat alle seine 4004000 Stammaktien (13,95% Zinsen) in FEP zu einem Preis von 48p pro Stammaktie, was eine 100% ige Prämie auf den Marktpreis von 24p bei Geschäftsschluss am 1. Juli 2008 eine Netto-Betrachtung von £ 1,9 Millionen (rund US $ 3,8 Mio.).
Die Sterling Buchwert der Anteile verkauft wurden $ 1,9 Mio. am 31. Dezember 2007.
Chief Executive, sagte Graeme Thomson:
"Sterling Energie konzentriert sich auf ein Portfolio von hohen Auswirkungen Aussichten, vor allem in Kurdistan und Madagaskar, in der Erwägung, dass FEP mit ihren Interessen in den Philippinen ist nicht Kern zu uns. Wir sind die Veräußerung von nicht zum Kerngeschäft gehörenden Vermögenswerte, einschließlich der USA unsere Interessen und die Cash angehoben werden zur Unterstützung der weiteren Entwicklung dieser wichtigen Aussichten, wo wir bereits Vorbereitungen für das Bohren zu beginnen, sowie zur Rückzahlung unserer Bankverbindlichkeiten. "
Für weitere Informationen kontaktieren Sie bitte:
Sterling Energy plc (+44 20 7405 4133)
Graeme Thomson, Chief Executive
Harry Wilson, stellvertretender Vorsitzender
Evolution Securities (+44 20 7071 4300)
Chris Sim
Tim Redfern
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
George Cazenove
Diese Informationen werden zur Verfügung gestellt von RNS
Das Unternehmen News Service aus der London Stock Exchange
ENDE
Sterling Energy PLC
02 July 2008
2 July 2008
STERLING ENERGY PLC
("Sterling" or the "Company")
SALE OF INTEREST IN FORUM ENERGY PLC
Sterling (symbol: SEY), the AIM listed independent oil & gas exploration and production company with interests in the Gulf of Mexico, Africa and the Middle East, today announces the sale of its entire shareholding in AIM listed Forum Energy Plc (FEP).
Sterling has sold all of its 4,004,000 ordinary shares (13.95% interest) in FEP at a price of 48p per ordinary share, representing a 100% premium to the market price of 24p at close of business on 1 July 2008, a net consideration of £1.9 million (approximately $3.8 million).
The Sterling book value of the shares sold was $1.9 million at 31 December 2007.
Chief Executive, Graeme Thomson said:
"Sterling Energy is focussed on a portfolio of high impact prospects, primarily in Kurdistan and Madagascar, whereas FEP with its interests in the Philippines is not core to us. We are divesting of non-core assets, including our USA interests and the cash raised will be used to support the continued development of these key prospects where we are preparing for drilling to commence, as well as to repay our bank debt."
For further information contact:
Sterling Energy Plc (+44 20 7405 4133)
Graeme Thomson, Chief Executive
Harry Wilson, Deputy Chairman
Evolution Securities (+44 20 7071 4300)
Chris Sim
Tim Redfern
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
George Cazenove
This information is provided by RNS
The company news service from the London Stock Exchange
END
RNS-Nummer: 1065Y
Sterling Energy plc
02. Juli 2008
2. Juli 2008
Sterling Energy plc
( "Sterling" oder das "Unternehmen")
Verkauf von Interesse im Forum Energy plc
Sterling (Symbol: SEY), mit dem Ziel aufgeführt unabhängigen Öl-& Gas-Explorations-und Produktions-Unternehmen mit Interessen in der Golf von Mexiko, Afrika und dem Nahen Osten, kündigt heute den Verkauf seiner gesamten Beteiligung an der börsennotierten AIM-Forum Energy plc (FEP).
Sterling verkauft hat alle seine 4004000 Stammaktien (13,95% Zinsen) in FEP zu einem Preis von 48p pro Stammaktie, was eine 100% ige Prämie auf den Marktpreis von 24p bei Geschäftsschluss am 1. Juli 2008 eine Netto-Betrachtung von £ 1,9 Millionen (rund US $ 3,8 Mio.).
Die Sterling Buchwert der Anteile verkauft wurden $ 1,9 Mio. am 31. Dezember 2007.
Chief Executive, sagte Graeme Thomson:
"Sterling Energie konzentriert sich auf ein Portfolio von hohen Auswirkungen Aussichten, vor allem in Kurdistan und Madagaskar, in der Erwägung, dass FEP mit ihren Interessen in den Philippinen ist nicht Kern zu uns. Wir sind die Veräußerung von nicht zum Kerngeschäft gehörenden Vermögenswerte, einschließlich der USA unsere Interessen und die Cash angehoben werden zur Unterstützung der weiteren Entwicklung dieser wichtigen Aussichten, wo wir bereits Vorbereitungen für das Bohren zu beginnen, sowie zur Rückzahlung unserer Bankverbindlichkeiten. "
Für weitere Informationen kontaktieren Sie bitte:
Sterling Energy plc (+44 20 7405 4133)
Graeme Thomson, Chief Executive
Harry Wilson, stellvertretender Vorsitzender
Evolution Securities (+44 20 7071 4300)
Chris Sim
Tim Redfern
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
George Cazenove
Diese Informationen werden zur Verfügung gestellt von RNS
Das Unternehmen News Service aus der London Stock Exchange
ENDE
was bringt es uns ???????????
FEC Comment on Recent Developments With Forum Energy Plc
Monday July 7, 12:18 pm ET
CALGARY, Alberta, July 7 /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) ("FEC") wishes to advise shareholders that it has noted the announcement made by Philex Petroleum on July 2 with respect to its intention to proceed with a mandatory offer for Forum Energy Plc shares at a price of 48 pence per share.
The Board of FEC has been in discussions with its advisers and is monitoring the situation. Shareholders will be provided with an update in the coming days with respect to the offer and asks shareholders for their patience while the Board reviews its options.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation. For further information email info@fecresources.com.
On behalf of the Board of,
FEC Resources Inc.
"Larry W. Youell"
Larry W. Youell
President and 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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
Monday July 7, 12:18 pm ET
CALGARY, Alberta, July 7 /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) ("FEC") wishes to advise shareholders that it has noted the announcement made by Philex Petroleum on July 2 with respect to its intention to proceed with a mandatory offer for Forum Energy Plc shares at a price of 48 pence per share.
The Board of FEC has been in discussions with its advisers and is monitoring the situation. Shareholders will be provided with an update in the coming days with respect to the offer and asks shareholders for their patience while the Board reviews its options.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation. For further information email info@fecresources.com.
On behalf of the Board of,
FEC Resources Inc.
"Larry W. Youell"
Larry W. Youell
President and 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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
Antwort auf Beitrag Nr.: 34.454.263 von hbg55 am 07.07.08 19:57:42RNS Number : 9172Z Philex Petroleum Corporation 25 July 2008
Philex Petroleum Corporation
25 July 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
CASH OFFER
by PHILEX PETROLEUM CORPORATION
FOR
FORUM ENERGY PLC
Summary
PPC ANNOUNCES THE TERMS OF ITS CASH OFFER FOR THE ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF FORUM ENERGY HAVING ACQUIRED 4,004,000 FORUM ENERGY SHARES ON 1 JULY 2008 AT A PRICE OF 48 PENCE FOR EACH FORUM ENERGY SHARE.
THE OFFER WILL BE MADE TO ACQUIRE THE ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF FORUM ENERGY WHICH IS NOT ALREADY OWNED OR OTHERWISE CONTRACTED TO BE ACQUIRED BY PPC OR ANY OF ITS ASSOCIATES.
THE OFFER WILL, WHEN FORMALLY MADE, BE CONDITIONAL ONLY UPON THE RECEIPT OF ACCEPTANCES IN RESPECT OF FORUM ENERGY SHARES, WHICH, TOGETHER WITH THE FORUM ENERGY SHARES ACQUIRED OR AGREED TO BE ACQUIRED BEFORE OR DURING THE OFFER, WILL RESULT IN PPC (AND PERSONS ACTING IN CONCERT WITH IT) HOLDING FORUM ENERGY SHARES CARRYING MORE THAN 50 PER CENT. OF THE VOTING RIGHTS IN FORUM ENERGY.
THE OFFER WILL BE 48 PENCE IN CASH FOR EACH FORUM ENERGY SHARE, VALUING THE ENTIRE ISSUED SHARE CAPITAL OF FORUM ENERGY AT APPROXIMATELY £13.8 MILLION.
THE OFFER WILL EXTEND TO ALL FORUM ENERGY SHARES WHICH ARE NOT HELD BY PPC OR ANY OF ITS ASSOCIATES AND ANY FURTHER FORUM ENERGY SHARES WHICH ARE UNCONDITIONALLY ALLOTTED OR ISSUED AND FULLY PAID WHILST THE OFFER REMAINS OPEN FOR ACCEPTANCE (OR BY SUCH EARLIER DATE AS PPC MAY, SUBJECT TO THE CITY CODE, DECIDE) PURSUANT TO THE EXERCISE OF OPTIONS OR THE SATISFACTION OF AWARDS UNDER THE SHARE INCENTIVE SCHEMES OR OTHERWISE.
THE OFFER REPRESENTS:
* A PREMIUM OF APPROXIMATELY 100 PER CENT. OVER THE MIDDLE MARKET PRICE OF A FORUM ENERGY SHARE AT THE CLOSE OF BUSINESS ON 1 JULY 2008, BEING THE LAST DEALING DAY PRIOR TO THE ANNOUNCEMENT OF A MANDATORY OFFER HAVING BEEN TRIGGERED THROUGH THE ACQUISITION OF STERLING NORTHWEST AFRICA HOLDINGS LIMITED'S ENTIRE HOLDING OF FORUM ENERGY SHARES; AND
A PREMIUM OF APPROXIMATELY 15.7 PER CENT. OVER THE MIDDLE MARKET PRICE OF A FORUM ENERGY SHARE AT THE CLOSE OF BUSINESS ON 24 JULY 2008, BEING THE LAST DEALING DAY BEFORE THIS ANNOUNCEMENT.
Enquiries:
Philex Petroleum Corporation Tel: +632 746 8755
Renato N.Migrino Fax: +632 631 9498
acting CFO of Philex Petroleum Corporation
Philex Petroleum Corporation
25 July 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
CASH OFFER
by PHILEX PETROLEUM CORPORATION
FOR
FORUM ENERGY PLC
Summary
PPC ANNOUNCES THE TERMS OF ITS CASH OFFER FOR THE ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF FORUM ENERGY HAVING ACQUIRED 4,004,000 FORUM ENERGY SHARES ON 1 JULY 2008 AT A PRICE OF 48 PENCE FOR EACH FORUM ENERGY SHARE.
THE OFFER WILL BE MADE TO ACQUIRE THE ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF FORUM ENERGY WHICH IS NOT ALREADY OWNED OR OTHERWISE CONTRACTED TO BE ACQUIRED BY PPC OR ANY OF ITS ASSOCIATES.
THE OFFER WILL, WHEN FORMALLY MADE, BE CONDITIONAL ONLY UPON THE RECEIPT OF ACCEPTANCES IN RESPECT OF FORUM ENERGY SHARES, WHICH, TOGETHER WITH THE FORUM ENERGY SHARES ACQUIRED OR AGREED TO BE ACQUIRED BEFORE OR DURING THE OFFER, WILL RESULT IN PPC (AND PERSONS ACTING IN CONCERT WITH IT) HOLDING FORUM ENERGY SHARES CARRYING MORE THAN 50 PER CENT. OF THE VOTING RIGHTS IN FORUM ENERGY.
THE OFFER WILL BE 48 PENCE IN CASH FOR EACH FORUM ENERGY SHARE, VALUING THE ENTIRE ISSUED SHARE CAPITAL OF FORUM ENERGY AT APPROXIMATELY £13.8 MILLION.
THE OFFER WILL EXTEND TO ALL FORUM ENERGY SHARES WHICH ARE NOT HELD BY PPC OR ANY OF ITS ASSOCIATES AND ANY FURTHER FORUM ENERGY SHARES WHICH ARE UNCONDITIONALLY ALLOTTED OR ISSUED AND FULLY PAID WHILST THE OFFER REMAINS OPEN FOR ACCEPTANCE (OR BY SUCH EARLIER DATE AS PPC MAY, SUBJECT TO THE CITY CODE, DECIDE) PURSUANT TO THE EXERCISE OF OPTIONS OR THE SATISFACTION OF AWARDS UNDER THE SHARE INCENTIVE SCHEMES OR OTHERWISE.
THE OFFER REPRESENTS:
* A PREMIUM OF APPROXIMATELY 100 PER CENT. OVER THE MIDDLE MARKET PRICE OF A FORUM ENERGY SHARE AT THE CLOSE OF BUSINESS ON 1 JULY 2008, BEING THE LAST DEALING DAY PRIOR TO THE ANNOUNCEMENT OF A MANDATORY OFFER HAVING BEEN TRIGGERED THROUGH THE ACQUISITION OF STERLING NORTHWEST AFRICA HOLDINGS LIMITED'S ENTIRE HOLDING OF FORUM ENERGY SHARES; AND
A PREMIUM OF APPROXIMATELY 15.7 PER CENT. OVER THE MIDDLE MARKET PRICE OF A FORUM ENERGY SHARE AT THE CLOSE OF BUSINESS ON 24 JULY 2008, BEING THE LAST DEALING DAY BEFORE THIS ANNOUNCEMENT.
Enquiries:
Philex Petroleum Corporation Tel: +632 746 8755
Renato N.Migrino Fax: +632 631 9498
acting CFO of Philex Petroleum Corporation
FEC Provides Update on Recent Offer for FEP Shares
Wednesday July 30, 2:44 pm ET
CALGARY, Alberta, July 30 /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 - News; Frankfurt/Munich: FE8) ("FEC") wishes to advise that, further to the announcement today by Philex Petroleum Corporation ("PPC") regarding the issue of its offer document relating to its mandatory offer for Forum Energy plc (FEP) shares, the FEP shares which are owned by FEC are not subject to PPC's mandatory offer as FEC is considered to be an associate of PPC.
Further updates will follow as they become available.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation. For further information email info@fecresources.com.
On behalf of the Board of,
FEC Resources Inc.
"Larry W. Youell"
Larry W. Youell
President and 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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
Source: FEC Resources Inc.
Antwort auf Beitrag Nr.: 34.619.163 von hbg55 am 30.07.08 22:53:58ja,mal sehen was sich da noch so ergibt !
RNS Number : 4621A Forum Energy Plc 01 August 2008
1 August 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
Forum Energy Plc
("Forum" or the "Company")
Update on Forum's response to mandatory cash offer
The board of Forum (the "Board") announces that it is in the process of preparing a response to a mandatory cash offer (the "Offer") made by Philex Petroleum Corporation ("PPC") to acquire the entire issued and to be issued ordinary shares of the Company which are not already owned or otherwise contracted to be acquired by PPC or any of its associates. A document containing the full terms and condition of the Offer was posted to Forum's shareholders on 30 July 2008.
The Offer, which values each ordinary share of Forum at 48p and Forum's entire issued share capital at approximately £13.8 million, is being made solely because PPC is required to do so under the rules of the Takeover Code following its acquisition of 4,004,000 ordinary shares of Forum on 1 July 2008.
The Board will publish its response to the Offer next week and, in the meantime, advises Forum's shareholders to take no action regarding the Offer until they have had the opportunity to consider the Board's response to the Offer.
Further announcements will be made as appropriate.
For further information please contact:
Alan Henderson Tel: +44 (0)1932 445 344
Forum Energy Plc, Non-Executive Chairman and acting Chief Executive Officer
1 August 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
Forum Energy Plc
("Forum" or the "Company")
Update on Forum's response to mandatory cash offer
The board of Forum (the "Board") announces that it is in the process of preparing a response to a mandatory cash offer (the "Offer") made by Philex Petroleum Corporation ("PPC") to acquire the entire issued and to be issued ordinary shares of the Company which are not already owned or otherwise contracted to be acquired by PPC or any of its associates. A document containing the full terms and condition of the Offer was posted to Forum's shareholders on 30 July 2008.
The Offer, which values each ordinary share of Forum at 48p and Forum's entire issued share capital at approximately £13.8 million, is being made solely because PPC is required to do so under the rules of the Takeover Code following its acquisition of 4,004,000 ordinary shares of Forum on 1 July 2008.
The Board will publish its response to the Offer next week and, in the meantime, advises Forum's shareholders to take no action regarding the Offer until they have had the opportunity to consider the Board's response to the Offer.
Further announcements will be made as appropriate.
For further information please contact:
Alan Henderson Tel: +44 (0)1932 445 344
Forum Energy Plc, Non-Executive Chairman and acting Chief Executive Officer
Antwort auf Beitrag Nr.: 34.633.062 von hainholz am 01.08.08 17:21:41der Vertrag mit der Regierung wird unterzeichnet !!!!!!!!!!
dann geht es loooooooooooooos !!
Forum Energy Plc
("Forum" or the "Company")
Update on GSEC101 service contract conversion
The board of Forum (the "Board") reports that the Company has been notified in writing by the Philippines Department of Energy that the service contract to be entered into under the GSEC101 licence is in its final draft and that it is planned that formal signing of the service contract will take place in the third week of August 2008.
In light of this latest development, the Board is considering its response to the mandatory cash offer (the "Offer") made by Philex Petroleum Corporation ("PPC") to acquire the entire and to be issued ordinary shares of the Company which are not already owned or otherwise contracted to be acquired by PPC or any of its associates. A document containing the full terms and condition of the Offer was posted to Forum's shareholders on 30 July 2008.
The Offer, which values each ordinary share of Forum at 48p and Forum's entire issued share capital at approximately £13.8 million, is being made solely because PPC is required to do so under the rules of the Takeover Code following its acquisition of 4,004,000 ordinary shares of Forum on 1 July 2008.
The Board will publish its response to the Offer on 6 August 2008 and, in the meantime, advises Forum's shareholders to take no action regarding the Offer until they have had the opportunity to consider the Board's response to the Offer.
Further announcements will be made as appropriate.
For further information please contact:
Alan Henderson
dann geht es loooooooooooooos !!
Forum Energy Plc
("Forum" or the "Company")
Update on GSEC101 service contract conversion
The board of Forum (the "Board") reports that the Company has been notified in writing by the Philippines Department of Energy that the service contract to be entered into under the GSEC101 licence is in its final draft and that it is planned that formal signing of the service contract will take place in the third week of August 2008.
In light of this latest development, the Board is considering its response to the mandatory cash offer (the "Offer") made by Philex Petroleum Corporation ("PPC") to acquire the entire and to be issued ordinary shares of the Company which are not already owned or otherwise contracted to be acquired by PPC or any of its associates. A document containing the full terms and condition of the Offer was posted to Forum's shareholders on 30 July 2008.
The Offer, which values each ordinary share of Forum at 48p and Forum's entire issued share capital at approximately £13.8 million, is being made solely because PPC is required to do so under the rules of the Takeover Code following its acquisition of 4,004,000 ordinary shares of Forum on 1 July 2008.
The Board will publish its response to the Offer on 6 August 2008 and, in the meantime, advises Forum's shareholders to take no action regarding the Offer until they have had the opportunity to consider the Board's response to the Offer.
Further announcements will be made as appropriate.
For further information please contact:
Alan Henderson
Antwort auf Beitrag Nr.: 34.633.062 von hainholz am 01.08.08 17:21:41aus einem englischen Board
Well, well, well..... the service contract will be awarded in the next 3 weeks as per today's RNS. This together with the Galloc Production in the next 7 days confirms that FEP has the making of a great company. As mentioned in previously, PPC are stealing this compnay for peanuts. I suspect a farm-in partner for GSEC101 is also ready to be announced as soon as the s/c awarded.
sie kommen langsam in die Hufe
Well, well, well..... the service contract will be awarded in the next 3 weeks as per today's RNS. This together with the Galloc Production in the next 7 days confirms that FEP has the making of a great company. As mentioned in previously, PPC are stealing this compnay for peanuts. I suspect a farm-in partner for GSEC101 is also ready to be announced as soon as the s/c awarded.
sie kommen langsam in die Hufe
Antwort auf Beitrag Nr.: 34.653.849 von hainholz am 05.08.08 18:37:42Hey
Kannst du das mal im Klartext schreiben.
Was beteutet das für uns FEC-Aktionäre.???
Soll man zukaufen.(wenn man welche bekommt).
Was hat es mit den 48p aufsich.???
Danke für eure Antwort im vorraus.
Kannst du das mal im Klartext schreiben.
Was beteutet das für uns FEC-Aktionäre.???
Soll man zukaufen.(wenn man welche bekommt).
Was hat es mit den 48p aufsich.???
Danke für eure Antwort im vorraus.
Antwort auf Beitrag Nr.: 34.653.906 von vogelgrippe am 05.08.08 18:43:49Da jetzt nach sehr langer Zeit endlich der Vertrag mit der Regierung in Manila unterzeichnet werden soll,ist das Angebot von Philex für den Merger, mit 48Pence pro Share in London, natürlich viel zu niedrig.
Jetzt könnten auch wieder die Chinesen ins Spiel kommen und FEP eine Zusammenarbeit anbiedern.
Die Gasfelder sind von höchster Güte.
Jetzt könnten auch wieder die Chinesen ins Spiel kommen und FEP eine Zusammenarbeit anbiedern.
Die Gasfelder sind von höchster Güte.
Antwort auf Beitrag Nr.: 34.654.084 von hainholz am 05.08.08 19:05:50FEC Resources, Inc: 29.78 %
Philex Petroleum Corporation: 13.94 %
JCAM Global Fund (Master), LP: 7.69 %
Rathbone Unit Trust Management Limited 4.95 %
Basic Petroleum Corporation 4.65 %
Deutsche Bank AG 4.21 %
Morgan Stanley Securities Limited 3.19 %
Fidelity (1) 3.03 %
RNS Number : 9470A
Forum Energy Plc
08 August 2008
8 August 2008
Forum Energy Plc (the "Company")
Notifiable Interest
The Company announces that it received notification on 5 August 2008 that on 4 August 2008 Deutsche Bank AG, ("Deutsche Bank"), had an interest in 1,210,000 ordinary shares of 10p each in the share capital of the Company, representing 4.21% of the issued share capital of the Company.
This represents the entire holding of Deutsche Bank in the share capital of the Company.
For further information please contact:
Alan Henderson Tel: +44 (0)1932 445 344
Chairman and acting Chief Executive Officer, Forum Energy Plc
Andrew Mullins Tel: +44 (0)1932 445 344
Company Secretary, Forum Energy Plc
Nick Naylor / Jamie Boyd Tel: +44 (0)20 7763 2200
Noble & Company Ltd, Nominated Adviser & Broker
Or visit the Company's website:
www.forumenergyplc.com
Philex Petroleum Corporation: 13.94 %
JCAM Global Fund (Master), LP: 7.69 %
Rathbone Unit Trust Management Limited 4.95 %
Basic Petroleum Corporation 4.65 %
Deutsche Bank AG 4.21 %
Morgan Stanley Securities Limited 3.19 %
Fidelity (1) 3.03 %
RNS Number : 9470A
Forum Energy Plc
08 August 2008
8 August 2008
Forum Energy Plc (the "Company")
Notifiable Interest
The Company announces that it received notification on 5 August 2008 that on 4 August 2008 Deutsche Bank AG, ("Deutsche Bank"), had an interest in 1,210,000 ordinary shares of 10p each in the share capital of the Company, representing 4.21% of the issued share capital of the Company.
This represents the entire holding of Deutsche Bank in the share capital of the Company.
For further information please contact:
Alan Henderson Tel: +44 (0)1932 445 344
Chairman and acting Chief Executive Officer, Forum Energy Plc
Andrew Mullins Tel: +44 (0)1932 445 344
Company Secretary, Forum Energy Plc
Nick Naylor / Jamie Boyd Tel: +44 (0)20 7763 2200
Noble & Company Ltd, Nominated Adviser & Broker
Or visit the Company's website:
www.forumenergyplc.com
Antwort auf Beitrag Nr.: 34.696.585 von schneebe am 11.08.08 05:00:13
...int. fingerzeig der DEUTSCHEN BANK !!!!
war DAS erst der anfang ???
...int. fingerzeig der DEUTSCHEN BANK !!!!
war DAS erst der anfang ???
Antwort auf Beitrag Nr.: 34.696.832 von hbg55 am 11.08.08 08:34:22wir werden es sehen, was es noch bringt oder nicht bringt
...ANYHOW, wir sehen endlich bewegung bei FEC, wozu auch
nachfolg. meldung paßt.....
FEC Comments Further on Recent Developments With Forum Energy PLC
Friday August 8, 11:47 pm ET
CALGARY, Alberta, Aug. 8 /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 - News; Frankfurt/Munich: FE8) ("FEC") wishes to advise shareholders that it has noted the announcement made by Forum Energy PLC. (FEP) on August 5, 2008 (see below).
"Forum Energy plc ('Forum' or the 'Company')
Update on GSEC101 service contract conversion
The board of Forum (the "Board") reports that the Company has been notified in writing by the Philippines Department of Energy that the service contract to be entered into under the GSEC101 license is in its final draft and that it is planned that formal signing of the service contract will take place in the third week of August 2008."
FEP has also issued a further news release dated August 5, 2008 stating the view of their Board of Directors on the purchase offer by Philex Petroleum ("Philex") for all the outstanding shares of FEP. This may be viewed at http://www.forumenergyplc.com.
FEC Resources holding of FEP shares is not included in the offer by Philex. FEC Resources holds 29.78% of the shares of FEP.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
For further information email info@fecresources.com.
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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
Source: FEC Resources Inc.
Antwort auf Beitrag Nr.: 34.697.011 von hbg55 am 11.08.08 09:06:39dann sind wir mal auf nächste woche gespannt
Antwort auf Beitrag Nr.: 34.697.079 von schneebe am 11.08.08 09:19:45werden hier noch eine positive Überraschung erleben !!
..........sieht doch gaaaaar nicht so ÜBEL aus !!!!
RT...usd 0,017
Antwort auf Beitrag Nr.: 34.711.750 von hbg55 am 12.08.08 19:14:16naja
wenn di eine null weg wäre
0,017
wenn di eine null weg wäre
0,017
Antwort auf Beitrag Nr.: 34.696.585 von schneebe am 11.08.08 05:00:13und in London steigen mehr und mehr ein
14:30 Loeb Partners Corp. - Rule 8.3 - Forum Energy Plc BZN
Loeb Partners Corporation
More
09:11 Landsbanki Sec UK - Rule 8.3- (Forum Energy)
14:30 Loeb Partners Corp. - Rule 8.3 - Forum Energy Plc BZN
Loeb Partners Corporation
More
09:11 Landsbanki Sec UK - Rule 8.3- (Forum Energy)
Antwort auf Beitrag Nr.: 34.721.880 von hainholz am 13.08.08 20:59:24heut ganz schöne käufe bei fep
18-Aug-08
15:36:15
50.00
850,000
Buy*
47.00
48.00
£425.00k
18-Aug-08
15:35:41
50.00
825,000
Buy*
47.00
48.00
£412.50k
18-Aug-08
12:59:23
50.00
1,200,000
Buy*
47.00
48.00
£600.00k
18-Aug-08
12:59:08
49.95
285,000
Buy*
47.00
48.00
£142.36k
18-Aug-08
12:58:51
49.93
915,000
Buy*
47.00
48.00
£456.86k
8-Aug-08
12:58:21
50.00
2,208,000
Buy*
47.00
48.00
£1.104M
18-Aug-08
15:36:15
50.00
850,000
Buy*
47.00
48.00
£425.00k
18-Aug-08
15:35:41
50.00
825,000
Buy*
47.00
48.00
£412.50k
18-Aug-08
12:59:23
50.00
1,200,000
Buy*
47.00
48.00
£600.00k
18-Aug-08
12:59:08
49.95
285,000
Buy*
47.00
48.00
£142.36k
18-Aug-08
12:58:51
49.93
915,000
Buy*
47.00
48.00
£456.86k
8-Aug-08
12:58:21
50.00
2,208,000
Buy*
47.00
48.00
£1.104M
kein Wunder,diese Woche wird der Galocvertrag unterschrieben
Antwort auf Beitrag Nr.: 34.754.934 von hainholz am 18.08.08 23:06:41Wellington Asset Management Limited
19 August 2008
19 August 2008
Strategic Investment
Wellington Asset Management Limited ("Wellington") today announces that it acquired an interest of 4,258,000 ordinary shares of 10p each in Forum Energy Plc ("Forum") on 18 August 2008, representing 14.83 per cent. of Forum's ordinary issued share capital.
Wellington has no intention to make an offer for the whole of Forum and has acquired its 14.83 per cent. interest as a strategic investment. The strategic investment was acquired through Jefferies International Limited acting as an agent for Wellington.
Enquiries
Jefferies International Limited
Chris Snoxall
0207 029 8428
About Wellington
Wellington is a newly established independent company specialising in the oil and gas sector.
Jefferies International Limited is acting exclusively for Wellington and no one else in connection with the strategic investment by Wellington and this announcement and will not be responsible to anyone other than Wellington for providing the protections afforded to clients of Jefferies International Limited, nor for providing advice in connection with the strategic investment by Wellington or this announcement or any matter referred to in this announcement.
Ends
RNS-Nummer: 5963B
Wellington Asset Management Limited
19 August 2008
19 August 2008
Strategische Investitionen
Wellington Asset Management Limited ( "Wellington") gab heute bekannt, dass er erwarb einen Anteil von 4258000 Stammaktien von 10p jeder im Forum Energy plc ( "Forum") am 18. August 2008, was 14,83 Prozent. des Forums ordentlichen ausgegebenen Aktienkapitals.
Wellington hat nicht die Absicht, ein Angebot für das gesamte Forum und erworben hat, seine 14,83 Prozent. Interesse als eine strategische Investition. Die strategische Investition erworben wurde durch Jefferies International Limited fungiert als Agent für Wellington.
Anfragen
Jefferies International Limited
Chris Snoxall
0207 029 8428
Über Wellington
Wellington ist eine neu gegründete unabhängige Unternehmen spezialisiert auf die Öl-und Gassektor.
Jefferies International Limited ist ausschließlich für Wellington und niemand sonst im Zusammenhang mit den strategischen Investitionen von Wellington und diese Ankündigung und werden nicht verantwortlich für andere als für die Bereitstellung von Wellington die Schutzmaßnahmen zugunsten der Kunden von Jefferies International Limited, noch für die Beratung in Zusammenhang mit der strategischen Investitionen von Wellington oder dieser Ankündigung oder jede Angelegenheit im Sinne dieser Ankündigung.
Endet
19 August 2008
19 August 2008
Strategic Investment
Wellington Asset Management Limited ("Wellington") today announces that it acquired an interest of 4,258,000 ordinary shares of 10p each in Forum Energy Plc ("Forum") on 18 August 2008, representing 14.83 per cent. of Forum's ordinary issued share capital.
Wellington has no intention to make an offer for the whole of Forum and has acquired its 14.83 per cent. interest as a strategic investment. The strategic investment was acquired through Jefferies International Limited acting as an agent for Wellington.
Enquiries
Jefferies International Limited
Chris Snoxall
0207 029 8428
About Wellington
Wellington is a newly established independent company specialising in the oil and gas sector.
Jefferies International Limited is acting exclusively for Wellington and no one else in connection with the strategic investment by Wellington and this announcement and will not be responsible to anyone other than Wellington for providing the protections afforded to clients of Jefferies International Limited, nor for providing advice in connection with the strategic investment by Wellington or this announcement or any matter referred to in this announcement.
Ends
RNS-Nummer: 5963B
Wellington Asset Management Limited
19 August 2008
19 August 2008
Strategische Investitionen
Wellington Asset Management Limited ( "Wellington") gab heute bekannt, dass er erwarb einen Anteil von 4258000 Stammaktien von 10p jeder im Forum Energy plc ( "Forum") am 18. August 2008, was 14,83 Prozent. des Forums ordentlichen ausgegebenen Aktienkapitals.
Wellington hat nicht die Absicht, ein Angebot für das gesamte Forum und erworben hat, seine 14,83 Prozent. Interesse als eine strategische Investition. Die strategische Investition erworben wurde durch Jefferies International Limited fungiert als Agent für Wellington.
Anfragen
Jefferies International Limited
Chris Snoxall
0207 029 8428
Über Wellington
Wellington ist eine neu gegründete unabhängige Unternehmen spezialisiert auf die Öl-und Gassektor.
Jefferies International Limited ist ausschließlich für Wellington und niemand sonst im Zusammenhang mit den strategischen Investitionen von Wellington und diese Ankündigung und werden nicht verantwortlich für andere als für die Bereitstellung von Wellington die Schutzmaßnahmen zugunsten der Kunden von Jefferies International Limited, noch für die Beratung in Zusammenhang mit der strategischen Investitionen von Wellington oder dieser Ankündigung oder jede Angelegenheit im Sinne dieser Ankündigung.
Endet
wenn ich das jetzt recht verstanden habe,halten Philex und Forum nun über 50 % an FEP oder?
Antwort auf Beitrag Nr.: 34.777.757 von hainholz am 20.08.08 15:16:27ja stimmt
Antwort auf Beitrag Nr.: 34.789.248 von schneebe am 21.08.08 06:46:22aktuell
Well you were right, I was double counting. here is an updated shareholders list as of today.
Philex/FEC 50.18
Wellington 16.47
Basic Petroleum 4.65
Fidelity 3.03
Loeb 2.21
J.M. Finn 1.15
Rathbone 0.89
Total 78.635
Well you were right, I was double counting. here is an updated shareholders list as of today.
Philex/FEC 50.18
Wellington 16.47
Basic Petroleum 4.65
Fidelity 3.03
Loeb 2.21
J.M. Finn 1.15
Rathbone 0.89
Total 78.635
Antwort auf Beitrag Nr.: 34.799.760 von hainholz am 21.08.08 19:35:23Interessanter Wert.Hab eine Kauforder drin,wurde leider noch nicht ausgeführt.
Was ist mit der Deutschen Bank.Haben die ihre Anteile wieder abgestoßen?
Was ist mit der Deutschen Bank.Haben die ihre Anteile wieder abgestoßen?
Antwort auf Beitrag Nr.: 34.800.911 von Grauewoelfe am 21.08.08 21:26:29diese Anteile hat jetzt Wellington Investment übernommen.
Antwort auf Beitrag Nr.: 34.801.532 von hainholz am 21.08.08 22:37:23Danke für die Info!
An keinem Börsenplatz Umsatz.Nur getaxe.
Antwort auf Beitrag Nr.: 34.801.532 von hainholz am 21.08.08 22:37:23stimmt nicht, die deutsche bank halten noch aktien, sind nur
auf unter 3 % da sind die dann nicht mehr meldepflichtig.
auf unter 3 % da sind die dann nicht mehr meldepflichtig.
Antwort auf Beitrag Nr.: 34.813.783 von schneebe am 22.08.08 16:40:31The Board of Forum announces that it received notification on 19 August 2008 that on 18 August 2008 following the disposal of shares in Forum, Deutsche Bank AG now has a holding below 3% of the issued share capital of the Company. Deutsche Bank AG no longer has a notifiable interest in ordinary shares of the Company.
Antwort auf Beitrag Nr.: 34.813.856 von schneebe am 22.08.08 16:44:07Und das kurz vor der Vertragsunterzeichnung?
Forum Energy Says Sampaguita Gas Discovery 'World Class'
Forum Energy says that the interpretation of the 3D seismic program at the Sampaguita gas discovery indicates a world class gas accumulation with potential reserves of up to 20 TCF ("trillion cubic feet") Forum has 100% of the equity in the license in which the Sampaguita offshore gas discovery is situated. The block is located off the North West coast of Palawan Island in the Philippines.
Forum Energy says that the interpretation of the 3D seismic program at the Sampaguita gas discovery indicates a world class gas accumulation with potential reserves of up to 20 TCF ("trillion cubic feet") Forum has 100% of the equity in the license in which the Sampaguita offshore gas discovery is situated. The block is located off the North West coast of Palawan Island in the Philippines.
Antwort auf Beitrag Nr.: 34.828.317 von hainholz am 23.08.08 19:54:51im englischen Board geht man davon aus das sich FEC wohl nen chinesischen Partner nimmt ( CNOOK )
Antwort auf Beitrag Nr.: 34.851.799 von hainholz am 25.08.08 18:15:44erstes OIL bei Galoc diesen Monat
Galoc oil eyes production
this month after delays
The Galoc Production Co. (GPC), operator of the Galoc field, announced the completion of repair works on the latter’s facilities that were damaged by recent typhoons, which would pave the way for the long-delayed production of first oil this month.
In a statement, GPC said that the “associated work program” for the Galoc field is now under way after the successful repair works on its facilities, which were damaged by Typhoon Frank in late June.
“Subject to suitable weather conditions, first oil is expected mid-September,” the statement read.
The Galoc field is run by a consortium led by GPC, which holds a 32-percent interest, and its partner Australian firm Nido Petroleum Ltd., which has a 22.28-percent share. Other partners include Philodrill Corp., which has a 7.02-percent stake, and Oriental Petroleum and Minerals Corp. and Linapacan Oil Gas and Power Corp., both of which hold a 7.58-percent interest in the consortium each. Also part of the consortium are Forum Energy Philippines Corp., with 2.27-percent share, while Alcorn Gold Resources Corp. and PetroEnergy Resources Corp. hold 1.53- and 1.03-percent interest, respectively, in the oil field.
The said field located in the offshore Northwest Palawan basin is the first oil development project to be undertaken in the country in over a decade and is projected to contain proven reserves of up to 14 million to 16 million barrels of the commodity.
The field was originally scheduled for first oil production in April but mechanical problems coupled with weather disturbances subsequently pushed this to September.
The contractual and operational delays have resulted to an increase in the Galoc’s project cost from $86 million to over $120 million.
The operator of the consortium’s contracted floating production, storage and offloading vessel the Rubicon Intrepid is expected to shoulder much of the costs associated with the repair works.
--Euan Paulo C. Añonuevo
Galoc oil eyes production
this month after delays
The Galoc Production Co. (GPC), operator of the Galoc field, announced the completion of repair works on the latter’s facilities that were damaged by recent typhoons, which would pave the way for the long-delayed production of first oil this month.
In a statement, GPC said that the “associated work program” for the Galoc field is now under way after the successful repair works on its facilities, which were damaged by Typhoon Frank in late June.
“Subject to suitable weather conditions, first oil is expected mid-September,” the statement read.
The Galoc field is run by a consortium led by GPC, which holds a 32-percent interest, and its partner Australian firm Nido Petroleum Ltd., which has a 22.28-percent share. Other partners include Philodrill Corp., which has a 7.02-percent stake, and Oriental Petroleum and Minerals Corp. and Linapacan Oil Gas and Power Corp., both of which hold a 7.58-percent interest in the consortium each. Also part of the consortium are Forum Energy Philippines Corp., with 2.27-percent share, while Alcorn Gold Resources Corp. and PetroEnergy Resources Corp. hold 1.53- and 1.03-percent interest, respectively, in the oil field.
The said field located in the offshore Northwest Palawan basin is the first oil development project to be undertaken in the country in over a decade and is projected to contain proven reserves of up to 14 million to 16 million barrels of the commodity.
The field was originally scheduled for first oil production in April but mechanical problems coupled with weather disturbances subsequently pushed this to September.
The contractual and operational delays have resulted to an increase in the Galoc’s project cost from $86 million to over $120 million.
The operator of the consortium’s contracted floating production, storage and offloading vessel the Rubicon Intrepid is expected to shoulder much of the costs associated with the repair works.
--Euan Paulo C. Añonuevo
Antwort auf Beitrag Nr.: 29.274.030 von hbg55 am 11.05.07 18:39:49Highlights:•Galoc-3 well has been flow tested at a stabilised rate of approximately 5,200 barrels of oil per day (bopd) •The well is now ready for connection to the FPSO for first commercial oil production
Antwort auf Beitrag Nr.: 34.936.470 von hainholz am 01.09.08 19:27:13The said field located in the offshore Northwest Palawan basin is the first oil development project to be undertaken in the country in over a decade and is projected to contain proven reserves of up to 14 million to 16 million barrels of the commodity.
Also 14-16 Mio. Barrels sind aber nicht sehr viel für eine Offshore-Projekt.Forum Energy ist darin auch nur zu einem Bruchteil beteiligt.
Also für mich kein Grund in euphorisch zu sein.
Also 14-16 Mio. Barrels sind aber nicht sehr viel für eine Offshore-Projekt.Forum Energy ist darin auch nur zu einem Bruchteil beteiligt.
Also für mich kein Grund in euphorisch zu sein.
Antwort auf Beitrag Nr.: 34.937.146 von Grauewoelfe am 01.09.08 20:56:54deshalb ja ,dieser Preis,der nun aber bald nicht mehr paßt.
Was geht denn heute ab?Warum der Kursverfall?
Sieht nicht nach Erfolg aus.Das wars dann wohl schon.Hier ist alles Tod.
Gibt es was neues zu Sampaguita ? Wann sollte es da eurer Meinung nach losgehen?
Antwort auf Beitrag Nr.: 35.023.410 von Grauewoelfe am 08.09.08 12:10:35man erwartet täglich das OK vom Energieministerium
deshalb hat Forum ja im Juni eine Zusammenarbeit mit Monte Oro angestrebt.
deshalb hat Forum ja im Juni eine Zusammenarbeit mit Monte Oro angestrebt.
Wednesday, September 10 2008
Aussie joint venture starts drilling
for oil in Northwest Palawan basin
NIDO Petroleum Ltd. and Kairiki Energy Ltd. have started drilling activities in their service contract (SC) area in the offshore Northwest Palawan basin, which includes the first exploration well to be drilled in the area in over a decade.
In a statement to the Australian Stock Exchange, Nido said that the joint venture began drilling the Yakal-1 exploration well covered by SC 54 on Monday.
The company said that the Yakal-1 well “is expected to take approximately three weeks to drill and if justified, will be suspended pending extended well testing.”
Yakal-1 is the first exploration well to be drilled in the Northwest Palawan basin, which is considered the most prospective area for petroleum exploration in the country in almost 10 years.
Once it completes its program drilling at the said well, the Nido-Kairiki joint venture will then move to a similar activity at the Tindalo-1 well, also covered by SC 54.
“Yakal-1 is the first of many wells we intend to drill in the Palawan basin,” Jocot de Dios, Nido chief executive officer, said.
The company earlier said that it had identified over 20 potential sites in SC 54 for possible drilling activities, including areas with prospective gas finds and areas that previously flowed oil during testing conducted in the 1970s.
The latest development from the Nido-Kairiki venture bodes well for the Philippines’ efforts to develop indigenous sources of energy in a bid to cut its dependence on imported fuel.
Nido and Kairiki are among a number of foreign companies engaged in the local upstream oil industry following a Supreme Court decision in 2004 allowing foreign ownership in the mining and exploration business.
An industry report released by energy consultancy firm Merritt Partners said that there are more than 10 foreign-listed companies engaged in oil and gas exploration in the country. They apart from 10 local companies, four multinational firms and a number of national oil companies in the local business.
-- Euan Paulo C. Añonuevo
Aussie joint venture starts drilling
for oil in Northwest Palawan basin
NIDO Petroleum Ltd. and Kairiki Energy Ltd. have started drilling activities in their service contract (SC) area in the offshore Northwest Palawan basin, which includes the first exploration well to be drilled in the area in over a decade.
In a statement to the Australian Stock Exchange, Nido said that the joint venture began drilling the Yakal-1 exploration well covered by SC 54 on Monday.
The company said that the Yakal-1 well “is expected to take approximately three weeks to drill and if justified, will be suspended pending extended well testing.”
Yakal-1 is the first exploration well to be drilled in the Northwest Palawan basin, which is considered the most prospective area for petroleum exploration in the country in almost 10 years.
Once it completes its program drilling at the said well, the Nido-Kairiki joint venture will then move to a similar activity at the Tindalo-1 well, also covered by SC 54.
“Yakal-1 is the first of many wells we intend to drill in the Palawan basin,” Jocot de Dios, Nido chief executive officer, said.
The company earlier said that it had identified over 20 potential sites in SC 54 for possible drilling activities, including areas with prospective gas finds and areas that previously flowed oil during testing conducted in the 1970s.
The latest development from the Nido-Kairiki venture bodes well for the Philippines’ efforts to develop indigenous sources of energy in a bid to cut its dependence on imported fuel.
Nido and Kairiki are among a number of foreign companies engaged in the local upstream oil industry following a Supreme Court decision in 2004 allowing foreign ownership in the mining and exploration business.
An industry report released by energy consultancy firm Merritt Partners said that there are more than 10 foreign-listed companies engaged in oil and gas exploration in the country. They apart from 10 local companies, four multinational firms and a number of national oil companies in the local business.
-- Euan Paulo C. Añonuevo
mal wat neues
frisch von den philippinen,daher 24.9.
Wednesday, September 24 2008
Philex raises stake in UK-listed firm
THE Philippines’ largest mining company has jacked up its stake in Forum Energy Plc after completing a tender offer to the UK-listed firm’s shareholders.
In a disclosure to the Philippine Stock Exchange, Renato Migriño, Philex Mining Corp. vice president for finance, said the company’s majority owned subsidiary Philex Petroleum Corp. (PPC) had purchased additional shares in Forum Energy worth 2.45 million pounds at a price of 0.48 pence per share.
The purchase of the shares, which represents 19.73 percent of Forum Energy’s issued capital stock, brings to 61.46 percent the total number of shares owned and controlled by Philex in the British company.
PPC’s acquisition of Forum Energy’s shares was coursed through a mandatory tender offer after the former acquired a 13.94-percent stake in the company for $3.797 million.
Another majority owned Philex unit, Canadian firm FEC Resources Inc., controls 28.42-percent equity in Forum Energy.
Migriño said that the additional stake acquired by PPC “further enhances the oil portfolio of Philex.”
It would be recalled that Forum Energy holds the geophysical survey and exploration contract (GSEC) 101 license in the Northwest Palawan basin.
Projections put it that the Sampaguita oil and gas discovery covered by GSEC 101 can rival the production from the Malampaya, the country’s largest natural gas field to date.
The area was earlier embroiled in a contract dispute after the Chinese claimed it to be part of a tripartite deal for joint exploration in the Spratly’s Islands among state-owned companies of the Philippines, China and Vietnam. Forum Energy said the agreement “may have delayed the conversion of GSEC 101” to a service contract that would allow it to commence with drilling activities, an option that was pre-negotiated with the government since last year.
The tripartite agreement, or the Joint Marine Seismic Undertaking (JMSU), however, expired in July.
To help fast track the conversion of its GSEC 101 license, Forum Energy earlier sold 30 percent of the contract to Monte Oro Resources & Energy, Inc., the mother company of Monte Oro Grid Resources Corp. (Monte Oro), which in turn owns a 30-percent stake in the consortium that won the bid for the National Transmission Corp. in December last year.
Walter Brown, Monte Oro president, is chief executive of Philex.
Philex shares closed higher Tuesday at P7 from P6.90 previously.
-- Euan Paulo C. Añonuevo
frisch von den philippinen,daher 24.9.
Wednesday, September 24 2008
Philex raises stake in UK-listed firm
THE Philippines’ largest mining company has jacked up its stake in Forum Energy Plc after completing a tender offer to the UK-listed firm’s shareholders.
In a disclosure to the Philippine Stock Exchange, Renato Migriño, Philex Mining Corp. vice president for finance, said the company’s majority owned subsidiary Philex Petroleum Corp. (PPC) had purchased additional shares in Forum Energy worth 2.45 million pounds at a price of 0.48 pence per share.
The purchase of the shares, which represents 19.73 percent of Forum Energy’s issued capital stock, brings to 61.46 percent the total number of shares owned and controlled by Philex in the British company.
PPC’s acquisition of Forum Energy’s shares was coursed through a mandatory tender offer after the former acquired a 13.94-percent stake in the company for $3.797 million.
Another majority owned Philex unit, Canadian firm FEC Resources Inc., controls 28.42-percent equity in Forum Energy.
Migriño said that the additional stake acquired by PPC “further enhances the oil portfolio of Philex.”
It would be recalled that Forum Energy holds the geophysical survey and exploration contract (GSEC) 101 license in the Northwest Palawan basin.
Projections put it that the Sampaguita oil and gas discovery covered by GSEC 101 can rival the production from the Malampaya, the country’s largest natural gas field to date.
The area was earlier embroiled in a contract dispute after the Chinese claimed it to be part of a tripartite deal for joint exploration in the Spratly’s Islands among state-owned companies of the Philippines, China and Vietnam. Forum Energy said the agreement “may have delayed the conversion of GSEC 101” to a service contract that would allow it to commence with drilling activities, an option that was pre-negotiated with the government since last year.
The tripartite agreement, or the Joint Marine Seismic Undertaking (JMSU), however, expired in July.
To help fast track the conversion of its GSEC 101 license, Forum Energy earlier sold 30 percent of the contract to Monte Oro Resources & Energy, Inc., the mother company of Monte Oro Grid Resources Corp. (Monte Oro), which in turn owns a 30-percent stake in the consortium that won the bid for the National Transmission Corp. in December last year.
Walter Brown, Monte Oro president, is chief executive of Philex.
Philex shares closed higher Tuesday at P7 from P6.90 previously.
-- Euan Paulo C. Añonuevo
Antwort auf Beitrag Nr.: 35.242.038 von hainholz am 23.09.08 22:02:1925 September 2008
Forum Energy Plc
("Forum")
Galoc Field Development and Reserves Increase
Forum today notes the following operational update made by the Galoc Production Company, the operator of the Galoc Field offshore Palawan.
"The Operator, Galoc Production Company advises that the support vessel CSO Venturer has been mobilized and is expected to arrive at the Galoc Field offshore Palawan, on Friday 26th September.
CSO Venturer will undertake re-installation of the Subsea equipment on which remedial corrosion work has been completed. CSO Venturer has the capability to carry out this activity in substantially less favourable weather conditions than the Bluestone Topaz which has undertaken the remedial work to date. This is particularly significant given the current poor weather conditions with wind speed exceeding 40 knots and forecast for Typhoon Haguipt currently tracking in the area.
Re-installation of the subsea component will be undertaken once the CSO Venturer arrives and there are suitable weather conditions. The remaining activities before first oil are expected to take approximately 6-8 days, given suitable weather conditions."
Reserves Update
Forum also announces the results of the Gaffney Cline and Associates (GCA) independent review of the Galoc Field reserves commissioned by Nido Petroleum Limited, which holds a 22.28% interest in the field.
The review, which took into account the development drilling and well testing data, resulted in a substantial increase in reserves across proven, probable and possible categories. Importantly, proven reserves have increased by 64%, which provides confidence in a stronger, longer-term production profile for the field.
Forum has a 2.27% participating interest in the Galoc Field.
Reserves Category GCA - November 2006 GCA - September 2008 % Change
STOIIP MMstb Recovery Factor (%) Reserves MMstb STOIIP MMstb Recovery Factor (%) Reserves MMstb Reserves Change (%)
1P 78.4 12% 9.7 97.7 16.3% 15.9 64%
2P 122.2 19% 23.5 124.7 19.7% 24.6 5%
3P 198.1 21% 41.9 222.7 25.5% 56.8 36%
For further information please contact:
Forum Energy Plc:
More | View thread (1) | Respond | Vote up
Forum Energy Plc
("Forum")
Galoc Field Development and Reserves Increase
Forum today notes the following operational update made by the Galoc Production Company, the operator of the Galoc Field offshore Palawan.
"The Operator, Galoc Production Company advises that the support vessel CSO Venturer has been mobilized and is expected to arrive at the Galoc Field offshore Palawan, on Friday 26th September.
CSO Venturer will undertake re-installation of the Subsea equipment on which remedial corrosion work has been completed. CSO Venturer has the capability to carry out this activity in substantially less favourable weather conditions than the Bluestone Topaz which has undertaken the remedial work to date. This is particularly significant given the current poor weather conditions with wind speed exceeding 40 knots and forecast for Typhoon Haguipt currently tracking in the area.
Re-installation of the subsea component will be undertaken once the CSO Venturer arrives and there are suitable weather conditions. The remaining activities before first oil are expected to take approximately 6-8 days, given suitable weather conditions."
Reserves Update
Forum also announces the results of the Gaffney Cline and Associates (GCA) independent review of the Galoc Field reserves commissioned by Nido Petroleum Limited, which holds a 22.28% interest in the field.
The review, which took into account the development drilling and well testing data, resulted in a substantial increase in reserves across proven, probable and possible categories. Importantly, proven reserves have increased by 64%, which provides confidence in a stronger, longer-term production profile for the field.
Forum has a 2.27% participating interest in the Galoc Field.
Reserves Category GCA - November 2006 GCA - September 2008 % Change
STOIIP MMstb Recovery Factor (%) Reserves MMstb STOIIP MMstb Recovery Factor (%) Reserves MMstb Reserves Change (%)
1P 78.4 12% 9.7 97.7 16.3% 15.9 64%
2P 122.2 19% 23.5 124.7 19.7% 24.6 5%
3P 198.1 21% 41.9 222.7 25.5% 56.8 36%
For further information please contact:
Forum Energy Plc:
More | View thread (1) | Respond | Vote up
0,0190
+72,73 %
+0,0080
das sieht gut aus
+72,73 %
+0,0080
das sieht gut aus
Antwort auf Beitrag Nr.: 35.278.640 von hainholz am 25.09.08 20:19:34Wieso 0,019 ???
Schaust du die Kurse in München an,die falsch getaxt werden.In Frankfurt war kein Umsatz und Ask zu Bid steht 0,003 zu 0,004
Da geht nichts mehr!Wird sich wohl bei einem Cent und drunter einpendeln.Tiefer kann es ja schon nicht mehr gehen.Umsätze auch gleich Null.
Trotzdem danke für deine Info.
Schaust du die Kurse in München an,die falsch getaxt werden.In Frankfurt war kein Umsatz und Ask zu Bid steht 0,003 zu 0,004
Da geht nichts mehr!Wird sich wohl bei einem Cent und drunter einpendeln.Tiefer kann es ja schon nicht mehr gehen.Umsätze auch gleich Null.
Trotzdem danke für deine Info.
Hallo, kann mir einer sagen, wie hoch die Anzahl der ausgegebenen Aktien ist. Habe 434.144.000 Stk als Angabe gefunden, aber auch andere Zahlen. Auf der FEC HP steht nichts. Weiß einer die genaue Anzahl? Danke!
Antwort auf Beitrag Nr.: 35.463.554 von xxtsc am 07.10.08 20:36:41VOTING SHARES AND PRINCIPAL HOLDERS THEREOF
The Company is authorized to issue unlimited common shares without par value and unlimited preferred shares without par value, of which 434,143,772 common shares are issued and
outstanding. There are no preferred shares issued and outstanding. The holders of common shares are entitled to one vote for each common share held. Holders of common shares of
record at the close of business on July 2, 2008 will be entitled to receive notice of and vote at the meeting. Any transferee or person acquiring Common Shares after such date may, on proof
of ownership of Common Shares, demand not later than 10 days before the Meeting that his or her name be included in the list of persons entitled to attend and vote at the Meeting.
PRINCIPAL HOLDERS THEREOF
Philex Mining Corporation 220,000,000
Asian Cost International 67,740,000
CDS & Co 44,464,231
The Company is authorized to issue unlimited common shares without par value and unlimited preferred shares without par value, of which 434,143,772 common shares are issued and
outstanding. There are no preferred shares issued and outstanding. The holders of common shares are entitled to one vote for each common share held. Holders of common shares of
record at the close of business on July 2, 2008 will be entitled to receive notice of and vote at the meeting. Any transferee or person acquiring Common Shares after such date may, on proof
of ownership of Common Shares, demand not later than 10 days before the Meeting that his or her name be included in the list of persons entitled to attend and vote at the Meeting.
PRINCIPAL HOLDERS THEREOF
Philex Mining Corporation 220,000,000
Asian Cost International 67,740,000
CDS & Co 44,464,231
Antwort auf Beitrag Nr.: 35.468.669 von schneebe am 08.10.08 05:45:57Danke und Gruß!
Antwort auf Beitrag Nr.: 35.469.073 von xxtsc am 08.10.08 06:57:01bitte bitte
Hallo
Ist einer von euch so gut und kauft mir meine
32000 Stück zu 0,007 in Frankfurt ab, dass wäre super
Wer erbarmt sich mit 224,00 €
Ich kann auch den Auftrag löschen und wir wickeln es
in München oder Stuttgart ab.
Bin seit 5 Jahren in dieser Firma investiert und möchte den Kurs nicht länger blockieren,
nach meinem Verkauf kann der Kurs dann 1000 % zulegen.
Ist einer von euch so gut und kauft mir meine
32000 Stück zu 0,007 in Frankfurt ab, dass wäre super
Wer erbarmt sich mit 224,00 €
Ich kann auch den Auftrag löschen und wir wickeln es
in München oder Stuttgart ab.
Bin seit 5 Jahren in dieser Firma investiert und möchte den Kurs nicht länger blockieren,
nach meinem Verkauf kann der Kurs dann 1000 % zulegen.
RNS Number : 5210F Forum Energy Plc 09 October 2008
9 October 2007
Forum Energy Plc
("Forum")
Galoc Field Production
Forum today notes the following joint press statement, made by the Energy Secretary Angelo T. Reyes and Jeff Davison, Chief Operating Officer (COO) of Galoc Production Company (GPC) regarding the commencement of production from the Galoc Field.
"(Taguig City, Philippines) In a joint press statement, Energy Secretary Angelo T. Reyes and Jeff Davison, Chief Operating Officer (COO) of Galoc Production Company (GPC) announced Galoc Field has commenced production of oil on 9 October 2008. The first well was opened at 10.45am and oil was onboard at 11.20am.
"We embrace this significant development as this will help immensely in our pursuit to be energy self-sufficient. We are expecting to get 20,000 barrels a day in the first 90 days of commercial production. That will provide for 6% of the daily oil demand of the country. We are on the right track in utilizing our indigenous sources," Sec. Reyes said in a statement. "Opening the country for more investment opportunities such as this one will eventually benefit everyone. In a time of uncertainties in oil prices, this will benefit the country and make us less reliant on imported crude oil and save millions of dollars in importation cost," he concluded.
Jeff Davison, COO of GPC, on the other hand, stated that "development of any offshore field presents a unique set of challenges - a small field like Galoc in a remote location particularly so. The GPC team has invested 3 years of committed and concerted effort to bring the Galoc Field into production. Achievement of this milestone is a credit to the Department of Energy which has worked relentlessly to promote oil and gas activity in the Philippines, our joint venture partners and our key contractors. It is a momentous day for us all."
Both Sec. Reyes and Mr. Davison expressed deep satisfaction over the success of achieving oil production from the Galoc Field.
Once production has stabilized following flow testing which will be undertaken over the coming weeks, production is expected to reach about 20,000bopd from the 2 wells with an average of about 17,000bopd over the remainder of 2008. The reserves estimate in Galoc is approximately 10 million barrels based on an assessment in 2006 for a 2 well development. Assessment of the ultimate potential with a view to further development will be undertaken during the initial 6 months of production.
The Galoc Field was discovered in 1981 with further appraisal undertaken in 1988. The field was not developed at that time due to the combination of risks associated with the reservoir and low oil price. Since then advancements in technology have both improved the capability of defining the reservoir and resulted in the need for fewer wells to access the reserves than previously necessary. This has been successfully achieved with the recently drilled horizontal development wells Galoc-3 and Galoc-4. Presently production is from the first well with the second well due to come on-line shortly."
Forum has a 2.27% participating interest in the Galoc Field.
For further information please contact:
Forum Energy Plc:
Andrew Mullins Tel: +44 (0)1932 445344
Executive Director
Noble & Company Ltd:
Nick Naylor Tel: +44 (0)207 763 2200
Director
Pelham Public Relations:
James Henderson Tel: +44 (0)20 7743 6674
Evgeniy Chuikov
Or visit Forum's website:
www.forumenergyplc.com
This information is provided by RNS The company news service from the London Stock Exchange
END
9 October 2007
Forum Energy Plc
("Forum")
Galoc Field Production
Forum today notes the following joint press statement, made by the Energy Secretary Angelo T. Reyes and Jeff Davison, Chief Operating Officer (COO) of Galoc Production Company (GPC) regarding the commencement of production from the Galoc Field.
"(Taguig City, Philippines) In a joint press statement, Energy Secretary Angelo T. Reyes and Jeff Davison, Chief Operating Officer (COO) of Galoc Production Company (GPC) announced Galoc Field has commenced production of oil on 9 October 2008. The first well was opened at 10.45am and oil was onboard at 11.20am.
"We embrace this significant development as this will help immensely in our pursuit to be energy self-sufficient. We are expecting to get 20,000 barrels a day in the first 90 days of commercial production. That will provide for 6% of the daily oil demand of the country. We are on the right track in utilizing our indigenous sources," Sec. Reyes said in a statement. "Opening the country for more investment opportunities such as this one will eventually benefit everyone. In a time of uncertainties in oil prices, this will benefit the country and make us less reliant on imported crude oil and save millions of dollars in importation cost," he concluded.
Jeff Davison, COO of GPC, on the other hand, stated that "development of any offshore field presents a unique set of challenges - a small field like Galoc in a remote location particularly so. The GPC team has invested 3 years of committed and concerted effort to bring the Galoc Field into production. Achievement of this milestone is a credit to the Department of Energy which has worked relentlessly to promote oil and gas activity in the Philippines, our joint venture partners and our key contractors. It is a momentous day for us all."
Both Sec. Reyes and Mr. Davison expressed deep satisfaction over the success of achieving oil production from the Galoc Field.
Once production has stabilized following flow testing which will be undertaken over the coming weeks, production is expected to reach about 20,000bopd from the 2 wells with an average of about 17,000bopd over the remainder of 2008. The reserves estimate in Galoc is approximately 10 million barrels based on an assessment in 2006 for a 2 well development. Assessment of the ultimate potential with a view to further development will be undertaken during the initial 6 months of production.
The Galoc Field was discovered in 1981 with further appraisal undertaken in 1988. The field was not developed at that time due to the combination of risks associated with the reservoir and low oil price. Since then advancements in technology have both improved the capability of defining the reservoir and resulted in the need for fewer wells to access the reserves than previously necessary. This has been successfully achieved with the recently drilled horizontal development wells Galoc-3 and Galoc-4. Presently production is from the first well with the second well due to come on-line shortly."
Forum has a 2.27% participating interest in the Galoc Field.
For further information please contact:
Forum Energy Plc:
Andrew Mullins Tel: +44 (0)1932 445344
Executive Director
Noble & Company Ltd:
Nick Naylor Tel: +44 (0)207 763 2200
Director
Pelham Public Relations:
James Henderson Tel: +44 (0)20 7743 6674
Evgeniy Chuikov
Or visit Forum's website:
www.forumenergyplc.com
This information is provided by RNS The company news service from the London Stock Exchange
END
LONDON (Thomson Financial) - Forum Energy Plc. said production has begun from the Galoc field, in which Forum has a 2.27 percent participating interest.
"We are expecting to get 20,000 barrels a day in the first 90 days of commercial production," said energy secretary Angelo Reyes in a joint statement with Jeff Davison, chief operating officer of Galoc Production Co.
Once production has stabilized after flow testing which will be undertaken over the coming weeks, production is expected to reach about 20,000 barrels of oil per day (bopd) from the two wells with an average of about 17,000 bopd over the remainder of 2008.
The reserves estimate in Galoc is about 10 million barrels based on an assessment in 2006 for a two well development.
tf.TFN-Europe_newsdesk@thomsonreuters.com jro/slm
"We are expecting to get 20,000 barrels a day in the first 90 days of commercial production," said energy secretary Angelo Reyes in a joint statement with Jeff Davison, chief operating officer of Galoc Production Co.
Once production has stabilized after flow testing which will be undertaken over the coming weeks, production is expected to reach about 20,000 barrels of oil per day (bopd) from the two wells with an average of about 17,000 bopd over the remainder of 2008.
The reserves estimate in Galoc is about 10 million barrels based on an assessment in 2006 for a two well development.
tf.TFN-Europe_newsdesk@thomsonreuters.com jro/slm
Gute News!Bei den Förderraten würden etwa 380 Barrel pro Tag auf FEP entfallen.Das wären Einnahmen von etwa 30400$ pro Tag konservativ gerechnet.Davon wiederum würde etwa ein viertel FEC zugute kommen.Die ersten Umsätze werden also generiert.
Antwort auf Beitrag Nr.: 35.519.944 von Grauewoelfe am 10.10.08 17:36:49jau,das ist gut
aber wenn ich mich recht entsinne haben FEC/PHILEX über 50%
also quasi 30 X 15000 = 450000 p.M.
aber wenn ich mich recht entsinne haben FEC/PHILEX über 50%
also quasi 30 X 15000 = 450000 p.M.
Antwort auf Beitrag Nr.: 35.519.944 von Grauewoelfe am 10.10.08 17:36:49und dann kommt noch gas, kohle und gold dazu
Antwort auf Beitrag Nr.: 35.521.393 von schneebe am 10.10.08 19:01:55ja,vor allem Gas in hülle und fülle vom GSEC 101
wordclass
wordclass
Antwort auf Beitrag Nr.: 35.521.511 von hainholz am 10.10.08 19:13:55riiccchhhhtttttiiiiiiggggggg!!!!!!!!
Antwort auf Beitrag Nr.: 35.521.511 von hainholz am 10.10.08 19:13:55GSEC 101 ist noch Zukunftsmusik.Bis sie dort bohren und fördern werden etliche Monate noch vergehen.Zumal hier,denke ich,noch nicht sicher ist,ob ein Gasfund vorhanden ist.
Warum aber Einnahmen aus Kohle und Gold?
Der Kurs reagiert mal nicht positiv auf diese News,komisch.
Warum aber Einnahmen aus Kohle und Gold?
Der Kurs reagiert mal nicht positiv auf diese News,komisch.
Antwort auf Beitrag Nr.: 35.523.384 von Grauewoelfe am 10.10.08 21:38:16was reagiert heut schon positiv
Kohle über FEP
und gold über Philex
Kohle über FEP
und gold über Philex
Antwort auf Beitrag Nr.: 35.523.384 von Grauewoelfe am 10.10.08 21:38:16
FEC Resources Inc., holds a diverse portfolio of Oil, Gas, Coal, Gold and Iron Ore assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com
FEC Resources Inc., holds a diverse portfolio of Oil, Gas, Coal, Gold and Iron Ore assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com
wenn das mal stimmen würde 0,04 € in frankfurt.
mein depot schaut auf einmal wieder ganz gut aus haha
mein depot schaut auf einmal wieder ganz gut aus haha
Antwort auf Beitrag Nr.: 35.925.004 von schneebe am 12.11.08 14:38:440,044
+4.300,00 %
+0,043
Frankfurt (EUR), 12.11.08 | 13:08
Ohne Umsatz zum Erfolg und morgen - 4.300 Prozent back to 0,001 ???
+4.300,00 %
+0,043
Frankfurt (EUR), 12.11.08 | 13:08
Ohne Umsatz zum Erfolg und morgen - 4.300 Prozent back to 0,001 ???
FEC Reports on Appointment of Dr. Walter Brown as CEO of FEP
Thursday November 20, 4:56 pm ET
CALGARY, Alberta, Nov. 20 /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 - News; Frankfurt/Munich: FE8) ("FEC") wishes to advise that Forum Energy Plc. (FEP) has announced the appointment of Manila based Dr. Walter Brown as their new Chief Executive Officer. (See below). We believe this to be a very positive step forward and will both strengthen the management structure of FEP and ultimately their operations in the Philippines. Dr. Brown is also a non-executive director of FEC who presently hold 28.42% of the shares of FEP.
"14 November 2008
Forum Energy Plc
("Forum Energy" or the "Company")
Appointment of Chief Executive Officer
Forum Energy is delighted to announce the appointment of Dr. Walter William Brown as Chief Executive Officer of the Company with immediate effect. Dr. Brown takes over from Alan Henderson, who has been acting Chief Executive Officer since June 2008 and who will continue in his role as Chairman of the Company.
Dr. Brown has extensive experience in both the mining and oil exploration and production industries in the Philippines. He has several academic qualifications including two undergraduate degrees: B.S. Physical Science (1959), B.S. Geology (1960), from the University of the Philippines, Manila; and post graduate degrees from Stanford University: M.S. Economic Geology (1963), Ph. D in Geology, Major in Geochemistry (1965). He has been associated with a number of companies in this industry including Dominion Asia Equities, Inc. (Belle Corp), Palawan Oil & Gas Exploration (Vantage Equities), 7 Seas Oil Company, Inc. (Abacus), Universal Petroleum (Universal Rightfield) and was previously Technical Director of Dragon Oil Plc, listed on the London Stock Exchange.
Since January 2004, Dr. Brown has been Chairman and Chief Executive Officer of Philex Mining Corporation, a company that, through its subsidiaries Philex Petroleum Corporation and FEC Resources, Inc, has an interest in 18,483,511 ordinary shares of Forum Energy, representing 61.44% of the issued share capital of the Company."
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
For further information email info@fecresources.com.
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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at http://www.FECResources.com
Source: FEC Resources Inc.
.........uuuuuuuuuuuund nun gehts UPPPPP
Antwort auf Beitrag Nr.: 36.029.931 von hbg55 am 21.11.08 10:40:06
...na für HEUTE hat die richtung ja schon mal bestens
gestimmt - GLATTER VERDOPPLER IN USA...haben den
CENT wieder !!!
Recent Trades - Last 9
Time Ex Price Change Volume
15:05:34 Q 0.01 +0.005 9,000
15:05:10 Q 0.01 +0.005 9,000
14:24:04 Q 0.0035 -0.0015 345
11:06:56 Q 0.0035 -0.0015 1,025
11:06:07 Q 0.0035 -0.0015 50,000
11:06:00 Q 0.006 +0.001 73,270
10:47:11 Q 0.005 - 46,730
10:45:07 Q 0.002 -0.003 14,725
10:45:04 Q 0.005 - 10,000
....darf geeeerne next week sich sooooo fortsetzen.....and
NICE WE to ALLLLLLLL !!!
...na für HEUTE hat die richtung ja schon mal bestens
gestimmt - GLATTER VERDOPPLER IN USA...haben den
CENT wieder !!!
Recent Trades - Last 9
Time Ex Price Change Volume
15:05:34 Q 0.01 +0.005 9,000
15:05:10 Q 0.01 +0.005 9,000
14:24:04 Q 0.0035 -0.0015 345
11:06:56 Q 0.0035 -0.0015 1,025
11:06:07 Q 0.0035 -0.0015 50,000
11:06:00 Q 0.006 +0.001 73,270
10:47:11 Q 0.005 - 46,730
10:45:07 Q 0.002 -0.003 14,725
10:45:04 Q 0.005 - 10,000
....darf geeeerne next week sich sooooo fortsetzen.....and
NICE WE to ALLLLLLLL !!!
Gratulation !
Das nenn ich ein Ausverkauf.Das war's dann wohl.
Das nenn ich ein Ausverkauf.Das war's dann wohl.
Antwort auf Beitrag Nr.: 36.055.810 von Grauewoelfe am 24.11.08 21:01:45
RT...usd 0,0015
..........warten wirs mal ab !!!
RT...usd 0,0015
..........warten wirs mal ab !!!
Antwort auf Beitrag Nr.: 36.056.518 von hbg55 am 24.11.08 22:06:49Gibt es Hintergründe für diesen Kursrutsch?
War alles nur ein Schwindel,zumal ja nicht ohne Grund eine Aktie nicht mal ein Cent wert ist?!
War alles nur ein Schwindel,zumal ja nicht ohne Grund eine Aktie nicht mal ein Cent wert ist?!
Antwort auf Beitrag Nr.: 36.061.443 von Grauewoelfe am 25.11.08 15:38:03
da mußte wohl EINER verkaufen und hat gleich einige
lemminge mitgerissen !!!
da mußte wohl EINER verkaufen und hat gleich einige
lemminge mitgerissen !!!
http://www.fecresources.com/downloads/quarterlies/2008/yeare…
Sollte morgen durchstarten.
0,02 $ erstes KZ
Sollte morgen durchstarten.
0,02 $ erstes KZ
FEC Resources Inc. 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
Following the asset transfers and a US$6.2m pre-IPO financing and US$19.35m IPO financing, FECR’s stake in the new company is approximately 32.04% with Sterling Energy holding approximately 14%. FECR is the single largest shareholder in FEP.
FEP is traded on the AIM market of the London Stock Exchange under the symbol “FEP”
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 significant stake in the new group.
Whilst maintaining this 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: info@FECResources.com
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
Following the asset transfers and a US$6.2m pre-IPO financing and US$19.35m IPO financing, FECR’s stake in the new company is approximately 32.04% with Sterling Energy holding approximately 14%. FECR is the single largest shareholder in FEP.
FEP is traded on the AIM market of the London Stock Exchange under the symbol “FEP”
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 significant stake in the new group.
Whilst maintaining this 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: info@FECResources.com
http://www.hoovers.com/fec-resources/--ID__46637,FRIC__274--…
FEC Resources Competition
Now Viewing FEC Resources's competition in: Oil and Gas Exploration and Production (primary)
Competitive Landscape
Demand is driven by economic activity, population growth, and energy efficiency for residential, industrial, and transportational uses of oil and gas. Profitability of individual companies is driven by the success rate of new wells drilled and the ability to increase production from existing wells. Large companies are advantaged by access to capital, including the ability to buy or merge smaller companies. Small companies compete by focusing on, and developing expertise in, a few geographic areas. The industry is capital intensive: average annual revenue per employee is about $5 million.
Full Industry Overview For Oil and Gas Exploration and Production
Oil and Gas Exploration and Production Industry Forecast
from Hoover's/D&B subsidiary First Research
The output of US natural gas extraction and crude petroleum production is forecast to grow at an annual compounded rate of 1.5 percent between 2007 and 2012.
Oil & Gas Production Growth Volatile
First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.
First Research Opportunity Rating
The First Research Opportunity Rating is First Research's estimate of industry performance vs. industry risk over the next 12 to 24 months.
* Demand: High oil prices drive demand
* Need strong technical expertise
* Risk: Slower global economy cuts demand
Industries Where FEC Resources Competes
* Energy & Utilities
o Oil & Gas Exploration & Production (primary)
* Metals & Mining
o Coal Mining & Processing
o Precious Metals Mining & Processing
FEC Resources Competition
Now Viewing FEC Resources's competition in: Oil and Gas Exploration and Production (primary)
Competitive Landscape
Demand is driven by economic activity, population growth, and energy efficiency for residential, industrial, and transportational uses of oil and gas. Profitability of individual companies is driven by the success rate of new wells drilled and the ability to increase production from existing wells. Large companies are advantaged by access to capital, including the ability to buy or merge smaller companies. Small companies compete by focusing on, and developing expertise in, a few geographic areas. The industry is capital intensive: average annual revenue per employee is about $5 million.
Full Industry Overview For Oil and Gas Exploration and Production
Oil and Gas Exploration and Production Industry Forecast
from Hoover's/D&B subsidiary First Research
The output of US natural gas extraction and crude petroleum production is forecast to grow at an annual compounded rate of 1.5 percent between 2007 and 2012.
Oil & Gas Production Growth Volatile
First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.
First Research Opportunity Rating
The First Research Opportunity Rating is First Research's estimate of industry performance vs. industry risk over the next 12 to 24 months.
* Demand: High oil prices drive demand
* Need strong technical expertise
* Risk: Slower global economy cuts demand
Industries Where FEC Resources Competes
* Energy & Utilities
o Oil & Gas Exploration & Production (primary)
* Metals & Mining
o Coal Mining & Processing
o Precious Metals Mining & Processing
Nun ja,aus dem Sedar Filing ist ersichtlich,das keine Einnahmen vorhanden sind sondern nur noch ein Cashbestand von ca.300000$.Zweifelsohne zu wenig um lange zu überleben.Man kann davon ausgehen das FEC spätestens im 2.Quartal Insolvenz anmeldet.Der Kurs drückt es ja schon aus.
Antwort auf Beitrag Nr.: 36.225.784 von Grauewoelfe am 17.12.08 20:00:47das bezieht sich bis Ende September
Ab September gibt es Einnahmen für Forum Energy in London vom Galoc Oilfield bei denen sie ja mit über 60% drin stecken.
Ab September gibt es Einnahmen für Forum Energy in London vom Galoc Oilfield bei denen sie ja mit über 60% drin stecken.
Antwort auf Beitrag Nr.: 36.225.784 von Grauewoelfe am 17.12.08 20:00:47LONDON (Thomson Financial)
- Forum Energy Plc. said production has begun from the Galoc field, in which Forum has a 2.27 percent participating interest.
"We are expecting to get 20,000 barrels a day in the first 90 days of commercial production," said energy secretary Angelo Reyes in a joint statement with Jeff Davison, chief operating officer of Galoc Production Co.
Once production has stabilized after flow testing which will be undertaken over the coming weeks, production is expected to reach about 20,000 barrels of oil per day (bopd) from the two wells with an average of about 17,000 bopd over the remainder of 2008.
The reserves estimate in Galoc is about 10 million barrels based on an assessment in 2006 for a two well development.
tf.TFN-Europe_newsdesk@thomsonreuters.com jro/slm
und das war im Oktober
- Forum Energy Plc. said production has begun from the Galoc field, in which Forum has a 2.27 percent participating interest.
"We are expecting to get 20,000 barrels a day in the first 90 days of commercial production," said energy secretary Angelo Reyes in a joint statement with Jeff Davison, chief operating officer of Galoc Production Co.
Once production has stabilized after flow testing which will be undertaken over the coming weeks, production is expected to reach about 20,000 barrels of oil per day (bopd) from the two wells with an average of about 17,000 bopd over the remainder of 2008.
The reserves estimate in Galoc is about 10 million barrels based on an assessment in 2006 for a two well development.
tf.TFN-Europe_newsdesk@thomsonreuters.com jro/slm
und das war im Oktober
Weiß jemand,wann die Zahlen zum 4.Quartal erscheinen?Ende Januar oder erst im Feb. ?
RNS Number : 4220M Forum Energy Plc 29 January 2009
29 January 2009 Embargoed for 7.00am
Forum Energy Plc ("Forum Energy" or the "Company")
Evaluation of Southern Cebu Coal Operating Contract (COC 131)
Forum Energy plc, the UK energy group with gas, oil and coal assets in the Philippines, is pleased to announce the start of exploration drilling on COC 131 in southern Cebu. Under the terms of the drilling contract, 12 holes for a total 2000 meters will be completed in the first half of 2009 using up to 3 drill rigs. The objective will be to block out coal reserves that will be subject to a mining plan relative to the conversion of COC 131 from an Exploration COC to a Development and Production COC.
Operations will be supervised by Independent Resource Estimations; a South African based consulting firm that have completed similar projects for Forum in the past.
Forum Energy Chief Executive, Dr. Walter W. Brown said: "Following our sale of COC 132 in November last year, Forum has now decided to concentrate on developing COC 131, which is located in an area with better quality coal deposits as compared to other coal-bearing areas in the Philippines."
LONDON, 02.02.2009 (Reuters) - Forum Energy Plc:
# FORUM ENERGY PLC ANNOUNCES TODAY THE SIGNING BY ITS MAJORITY-OWNED COMPANY,
Forum exploration, inc., of a gas sale and purchase agreement (GSPA) with
Desco
# UNDER THE GSPA, DESCO WILL INSTALL WITHIN THE YEAR 1.0 TO 1.5 MW POWER
generating units in Bogo
# FORUM WILL SELL THE GAS TO DESCO AT AN AGREED RATE OF US$1.50 PER MILLION BTU
(British thermal units) for the first 0.70 billion cubic feet of gas
29 January 2009 Embargoed for 7.00am
Forum Energy Plc ("Forum Energy" or the "Company")
Evaluation of Southern Cebu Coal Operating Contract (COC 131)
Forum Energy plc, the UK energy group with gas, oil and coal assets in the Philippines, is pleased to announce the start of exploration drilling on COC 131 in southern Cebu. Under the terms of the drilling contract, 12 holes for a total 2000 meters will be completed in the first half of 2009 using up to 3 drill rigs. The objective will be to block out coal reserves that will be subject to a mining plan relative to the conversion of COC 131 from an Exploration COC to a Development and Production COC.
Operations will be supervised by Independent Resource Estimations; a South African based consulting firm that have completed similar projects for Forum in the past.
Forum Energy Chief Executive, Dr. Walter W. Brown said: "Following our sale of COC 132 in November last year, Forum has now decided to concentrate on developing COC 131, which is located in an area with better quality coal deposits as compared to other coal-bearing areas in the Philippines."
LONDON, 02.02.2009 (Reuters) - Forum Energy Plc:
# FORUM ENERGY PLC ANNOUNCES TODAY THE SIGNING BY ITS MAJORITY-OWNED COMPANY,
Forum exploration, inc., of a gas sale and purchase agreement (GSPA) with
Desco
# UNDER THE GSPA, DESCO WILL INSTALL WITHIN THE YEAR 1.0 TO 1.5 MW POWER
generating units in Bogo
# FORUM WILL SELL THE GAS TO DESCO AT AN AGREED RATE OF US$1.50 PER MILLION BTU
(British thermal units) for the first 0.70 billion cubic feet of gas
Antwort auf Beitrag Nr.: 36.496.502 von xxtsc am 02.02.09 17:58:39Manila Standard Today
MST HOME
Feb. 6, 2009
Forum Energy plans Cebu coal drilling
Forum Energy Plc, a listed company in the UK, will start coal drilling in Cebu within the first half of the year, according to a disclosure.
Forum Energy said coal exploration drilling operations in southern Cebu are covered by an operating contract with the Energy Department.
Forum Energy committed to drill 12 holes at a total combined depth of 2,000 meters in the first half of the year using up to three drill rigs. Its coal contract area covers over 2,700 hectares.
“The objective will be to block out coal reserves that will be subject to a mining plan relative to the conversion [of the contract]... to a development and production [operating contract],” Forum Energy said.
It said drilling operations would be supervised by Independent Resource Estimations, a South African-based consulting company that provided services to Forum Energy in past works.
“... Forum has now decided to concentrate on developing [coal operating contract] 131, which is located in an area with better quality coal deposits as compared to other coal-bearing areas in the Philippines,” said Forum Energy chief executive Walter Brown.
Brown represents the interest of Philex Petroleum Corp. and FEC Resources Inc., units of Philex Mining Corp., in Forum Energy. Philex Petroleum and FEC Resources own 18.48 million shares in Forum Energy, representing 61.44 of the capital of Forum Energy.
Forum Energy last year completed its divestment of another coal-operating contract in Balamban-Naga to First Asian Resources and Mining Corp. for $3.5 million.
The contract in central Cebu covers 4,000 hectares. Both coal contracts are estimated to contain combined proven and probable coal reserves of 4.9 million tons.
Forum Energy also operates an oil exploration contract in the Visayan Basin. The area covers the northern area of Cebu island and the adjacent offshore areas in the central Tañon Strait and Visayan Sea.
Forum Energy, meanwhile, is waiting for the Energy Department to convert its geophysical survey and exploration contract on the Reed Bank area in South China Sea west of Palawan island. The area is located southwest of the Shell-operated Malampaya gas field. Alena Mae S. Flores
FECOF.OB
Date: 3-Feb-09
Contributor: Wright Reports
Title: Wright Investors Service Comprehensive Report for FEC Resources Incorporated:
http://reports.finance.yahoo.com/w0?r=41462211:1
FECOF.OB
Date: 4-Feb-09
Contributor: Reuters Investment Profile
Title: FEC Resources Inc.: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis:
http://reports.finance.yahoo.com/w0?r=31591699:1
MST HOME
Feb. 6, 2009
Forum Energy plans Cebu coal drilling
Forum Energy Plc, a listed company in the UK, will start coal drilling in Cebu within the first half of the year, according to a disclosure.
Forum Energy said coal exploration drilling operations in southern Cebu are covered by an operating contract with the Energy Department.
Forum Energy committed to drill 12 holes at a total combined depth of 2,000 meters in the first half of the year using up to three drill rigs. Its coal contract area covers over 2,700 hectares.
“The objective will be to block out coal reserves that will be subject to a mining plan relative to the conversion [of the contract]... to a development and production [operating contract],” Forum Energy said.
It said drilling operations would be supervised by Independent Resource Estimations, a South African-based consulting company that provided services to Forum Energy in past works.
“... Forum has now decided to concentrate on developing [coal operating contract] 131, which is located in an area with better quality coal deposits as compared to other coal-bearing areas in the Philippines,” said Forum Energy chief executive Walter Brown.
Brown represents the interest of Philex Petroleum Corp. and FEC Resources Inc., units of Philex Mining Corp., in Forum Energy. Philex Petroleum and FEC Resources own 18.48 million shares in Forum Energy, representing 61.44 of the capital of Forum Energy.
Forum Energy last year completed its divestment of another coal-operating contract in Balamban-Naga to First Asian Resources and Mining Corp. for $3.5 million.
The contract in central Cebu covers 4,000 hectares. Both coal contracts are estimated to contain combined proven and probable coal reserves of 4.9 million tons.
Forum Energy also operates an oil exploration contract in the Visayan Basin. The area covers the northern area of Cebu island and the adjacent offshore areas in the central Tañon Strait and Visayan Sea.
Forum Energy, meanwhile, is waiting for the Energy Department to convert its geophysical survey and exploration contract on the Reed Bank area in South China Sea west of Palawan island. The area is located southwest of the Shell-operated Malampaya gas field. Alena Mae S. Flores
FECOF.OB
Date: 3-Feb-09
Contributor: Wright Reports
Title: Wright Investors Service Comprehensive Report for FEC Resources Incorporated:
http://reports.finance.yahoo.com/w0?r=41462211:1
FECOF.OB
Date: 4-Feb-09
Contributor: Reuters Investment Profile
Title: FEC Resources Inc.: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis:
http://reports.finance.yahoo.com/w0?r=31591699:1
viel wichtiger wäre es ,wenn nun mal endlich die endgültige Zusage für das GSEC 101 käme
Antwort auf Beitrag Nr.: 36.534.137 von hainholz am 07.02.09 16:12:16Stimme Dir zu. Wollte nur zum Ausdruck bringen, dass die Gesellschaften noch leben und sich noch was tut. Hoffen wir mal, dass FEC auch die nächste Rohstoffhausse ( ein einigen Jahren ??? ) nicht verschläft.
Gruss.
Gruss.
Das wars mit Dr Walter Brown
Press Release Source: FEC Resources Inc.
FEC Reports on Changes to the Board of Directors
Tuesday February 10, 1:40 pm ET
CALGARY, Alberta, Feb. 10 /PRNewswire-FirstCall/ -- FEC Resources Inc. (OTC Bulletin Board: FECOF - News; Frankfurt/Munich: FE8) ("FEC") announces that Dr Walter Brown has today resigned his position as non Executive Director with immediate effect. Dr Brown, who is also CEO of Forum Energy PLC, wishes to concentrate on the running of their operations in London and the Philippines. We would like to thank him for his efforts and support during his years of service on the FEC board.
ADVERTISEMENT
Whilst we regret the departure of Dr Brown, the Board is delighted to announce the appointment of Mr Jose Ernesto Villaluna, the President and COO of Philex Mining Corporation. We are sure Mr. Villaluna's extensive experience and knowledge within the industry will be invaluable and accordingly we welcome him to the FEC Board of Directors.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
For further information email info@fecresources.com.
On behalf of the Board of,
FEC Resources Inc.
Press Release Source: FEC Resources Inc.
FEC Reports on Changes to the Board of Directors
Tuesday February 10, 1:40 pm ET
CALGARY, Alberta, Feb. 10 /PRNewswire-FirstCall/ -- FEC Resources Inc. (OTC Bulletin Board: FECOF - News; Frankfurt/Munich: FE8) ("FEC") announces that Dr Walter Brown has today resigned his position as non Executive Director with immediate effect. Dr Brown, who is also CEO of Forum Energy PLC, wishes to concentrate on the running of their operations in London and the Philippines. We would like to thank him for his efforts and support during his years of service on the FEC board.
ADVERTISEMENT
Whilst we regret the departure of Dr Brown, the Board is delighted to announce the appointment of Mr Jose Ernesto Villaluna, the President and COO of Philex Mining Corporation. We are sure Mr. Villaluna's extensive experience and knowledge within the industry will be invaluable and accordingly we welcome him to the FEC Board of Directors.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
For further information email info@fecresources.com.
On behalf of the Board of,
FEC Resources Inc.
Philex Mining Corp.: Vom Kupfer- zum Goldproduzenten
Allgemein Wie das philippinische Unternehmen mitteilte, hat man von der Kupfer- zur Goldproduktion umgeschwenkt. Aufgrund der sinkenden Kupferpreise habe man sich entschieden, verstärkt Goldkonzentrate zu verkaufen. In den letzten Monaten hat sich das Umsatzverhältnis aus den Verkäufen von Kupfer- bzw. Goldkonzentrat umgekehrt. Die letzten Zahlen zeigten, dass Goldverkäufe nun 72% des Umsatzes ausmachen.
Chairman Walter Brown sagte, man könne davon ausgehen, dass der Goldpreis weiter steigen werde. Daher sei Philex ein "natürliches Hedging" gegenüber den Basismetallpreisen. Sobald sich die Welt von der Wirtschaftskrise erholt, würden auch die Preise für Kupfer wieder steigen.
Philex exploriert derzeit Gold- und Kupferlagerstätten, die einen höheren Goldwert (in Dollar pro Tonne) aufweisen als der verhältnismäßige Kupferwert. Normalerweise dauert die Entwicklung solcher Projekte rund drei Jahre.
Auf der Hauptversammlung am 21. April 2009 soll beschlossen werden, eine Aktiendividende von 25% zu deklarieren.
Allgemein Wie das philippinische Unternehmen mitteilte, hat man von der Kupfer- zur Goldproduktion umgeschwenkt. Aufgrund der sinkenden Kupferpreise habe man sich entschieden, verstärkt Goldkonzentrate zu verkaufen. In den letzten Monaten hat sich das Umsatzverhältnis aus den Verkäufen von Kupfer- bzw. Goldkonzentrat umgekehrt. Die letzten Zahlen zeigten, dass Goldverkäufe nun 72% des Umsatzes ausmachen.
Chairman Walter Brown sagte, man könne davon ausgehen, dass der Goldpreis weiter steigen werde. Daher sei Philex ein "natürliches Hedging" gegenüber den Basismetallpreisen. Sobald sich die Welt von der Wirtschaftskrise erholt, würden auch die Preise für Kupfer wieder steigen.
Philex exploriert derzeit Gold- und Kupferlagerstätten, die einen höheren Goldwert (in Dollar pro Tonne) aufweisen als der verhältnismäßige Kupferwert. Normalerweise dauert die Entwicklung solcher Projekte rund drei Jahre.
Auf der Hauptversammlung am 21. April 2009 soll beschlossen werden, eine Aktiendividende von 25% zu deklarieren.
Forum Energy Plc 27 February 2009
Embargoed for release at 7.00 a.m. 27 February 2009
Forum Energy Plc ("Forum Energy" or the "Company")
Galoc Field Re-Commencement of Production
Forum Energy is pleased to announce that production of the Galoc field was resumed on 25 February 2009 following operational difficulties which suspended production on 16 December 2008. Forum has a 2.27% participating interest in the Galoc Field.
For further information please contact:
Forum Energy Plc:
Andrew Mullins Tel: +44 (0)1932 445344
Executive Director Noble & Company Ltd: (Nominated adviser)
James Bromhead/Brian Stockbridge Tel: +44 (0)207 763 2200
Or visit Forum's website:
www.forumenergyplc.com
This information is provided by RNS The company news service from the London Stock Exchange
Embargoed for release at 7.00 a.m. 27 February 2009
Forum Energy Plc ("Forum Energy" or the "Company")
Galoc Field Re-Commencement of Production
Forum Energy is pleased to announce that production of the Galoc field was resumed on 25 February 2009 following operational difficulties which suspended production on 16 December 2008. Forum has a 2.27% participating interest in the Galoc Field.
For further information please contact:
Forum Energy Plc:
Andrew Mullins Tel: +44 (0)1932 445344
Executive Director Noble & Company Ltd: (Nominated adviser)
James Bromhead/Brian Stockbridge Tel: +44 (0)207 763 2200
Or visit Forum's website:
www.forumenergyplc.com
This information is provided by RNS The company news service from the London Stock Exchange
Antwort auf Beitrag Nr.: 36.670.210 von xxtsc am 27.02.09 18:36:14na dann,kommt ja wieder money rein
Forum Energy inks gas deal
Philippine Daily Inquirer
First Posted 23:22:00 02/08/2009
Filed Under: Energy & Resources, Environmental Issues, Company Information
MANILA, Philippines—Forum Energy PLC, through majority-owned unit Forum Exploration Inc., signed a gas sale and purchase agreement (GSPA) with a local firm to develop the Libertad gas field for power generation.
The Libertad gas field is located 100 kilometers north of Cebu City.
Under the agreement, Desco Inc., a provider of petroleum and geothermal products and services in the Philippines, will install within the year a 1- to 1.5-megawatt power-generating unit in Bogo, Cebu using GE Jenbacher gas engines.
Forum will sell gas to Desco at an agreed rate of $1.50 per million British Thermal Units (BTU) for the first 0.70 billion cubic feet of gas (BCF) extracted and utilized.
Desco should also pay Forum $1.60 per million BTU for any gas produced beyond 0.70 BCF.
“We are pleased to have completed this initial step that would eventually lead to the fulfillment of our commitment to the government to produce the Libertad gas field and contribute to the development of indigenous energy resources in the country,” said Forum Energy chief executive Walter W. Brown.
The agreement with Desco is still subject to the approval of the Department of Energy.
The Libertad gas field is under Service Contract 40 (SC 40) where Forum holds a 66.7-percent interest. It also covers the onshore Maya oil and gas find, as well as prospects on Jibitnil Island and offshore in the Ta’on Strait.--Amy R. Remo
Philippine Daily Inquirer
First Posted 23:22:00 02/08/2009
Filed Under: Energy & Resources, Environmental Issues, Company Information
MANILA, Philippines—Forum Energy PLC, through majority-owned unit Forum Exploration Inc., signed a gas sale and purchase agreement (GSPA) with a local firm to develop the Libertad gas field for power generation.
The Libertad gas field is located 100 kilometers north of Cebu City.
Under the agreement, Desco Inc., a provider of petroleum and geothermal products and services in the Philippines, will install within the year a 1- to 1.5-megawatt power-generating unit in Bogo, Cebu using GE Jenbacher gas engines.
Forum will sell gas to Desco at an agreed rate of $1.50 per million British Thermal Units (BTU) for the first 0.70 billion cubic feet of gas (BCF) extracted and utilized.
Desco should also pay Forum $1.60 per million BTU for any gas produced beyond 0.70 BCF.
“We are pleased to have completed this initial step that would eventually lead to the fulfillment of our commitment to the government to produce the Libertad gas field and contribute to the development of indigenous energy resources in the country,” said Forum Energy chief executive Walter W. Brown.
The agreement with Desco is still subject to the approval of the Department of Energy.
The Libertad gas field is under Service Contract 40 (SC 40) where Forum holds a 66.7-percent interest. It also covers the onshore Maya oil and gas find, as well as prospects on Jibitnil Island and offshore in the Ta’on Strait.--Amy R. Remo
Antwort auf Beitrag Nr.: 36.726.379 von hainholz am 09.03.09 04:34:51
thx HH, liest sich gut.......uuuuund würde sich
noch besser lesen, wenn man erfahren könnte, welch
profit dabei erzielt wurde !!!
thx HH, liest sich gut.......uuuuund würde sich
noch besser lesen, wenn man erfahren könnte, welch
profit dabei erzielt wurde !!!
Antwort auf Beitrag Nr.: 36.726.714 von hbg55 am 09.03.09 09:11:34dabei sind sie mit 3%
The Manila Times
Thursday, March 19, 2009
Philex hikes stake in American oil firm
By Chino S. Leyco, Reporter
THE Philippines’ biggest mining firm said Wednesday that it has acquired additional shares in an American oil exploration firm.
In a disclosure to the Philippine Stock Exchange, Philex Mining Corp. said it purchased 14 million more shares of Pitkin Petroleum Plc. for $14 million, bringing the company’s total shareholdings to 18 million shares.
Philex added that its 51-percent subsidiary separately holds 6 million shares in the Texas-based junior exploration company.
In 2007, Philex Petroleum Corp. invested an additional $3 million in Pitkin by buying 6 million shares or 6.4 percent of the company.
Pitkin produces on a small-scale basis in Louisiana, and has properties in Vietnam and Peru.
The company would start drilling in the aforementioned Southeast Asian country this year wherein Pitkin, together with a UK-based partner that has a market capitalization of $2 billion, carried 40 percent for two wells worth $53 million.
Among Philex’s petroleum interests are projects in northwest Palawan and Sulu Sea. Through its wholly owned unit, Brixton Energy and Mining Corp., Philex is also pursuing pre-development activities in a coal property in Southern Zamboanga.
Philex Mining has also bought—through private placement—about 200 million shares or 46 percent of FEC Resources Inc. valued at $5 million.
FEC Resources is a Canadian firm that holds several oil and gas properties through its 20 percent shareholdings in Forum Energy Plc.
FEC is also the mining firm’s joint venture partner in Lascogon Mining Corp., through Philex Gold Philippines Inc., where the oil and gas firm holds 40-percent equity.
Thursday, March 19, 2009
Philex hikes stake in American oil firm
By Chino S. Leyco, Reporter
THE Philippines’ biggest mining firm said Wednesday that it has acquired additional shares in an American oil exploration firm.
In a disclosure to the Philippine Stock Exchange, Philex Mining Corp. said it purchased 14 million more shares of Pitkin Petroleum Plc. for $14 million, bringing the company’s total shareholdings to 18 million shares.
Philex added that its 51-percent subsidiary separately holds 6 million shares in the Texas-based junior exploration company.
In 2007, Philex Petroleum Corp. invested an additional $3 million in Pitkin by buying 6 million shares or 6.4 percent of the company.
Pitkin produces on a small-scale basis in Louisiana, and has properties in Vietnam and Peru.
The company would start drilling in the aforementioned Southeast Asian country this year wherein Pitkin, together with a UK-based partner that has a market capitalization of $2 billion, carried 40 percent for two wells worth $53 million.
Among Philex’s petroleum interests are projects in northwest Palawan and Sulu Sea. Through its wholly owned unit, Brixton Energy and Mining Corp., Philex is also pursuing pre-development activities in a coal property in Southern Zamboanga.
Philex Mining has also bought—through private placement—about 200 million shares or 46 percent of FEC Resources Inc. valued at $5 million.
FEC Resources is a Canadian firm that holds several oil and gas properties through its 20 percent shareholdings in Forum Energy Plc.
FEC is also the mining firm’s joint venture partner in Lascogon Mining Corp., through Philex Gold Philippines Inc., where the oil and gas firm holds 40-percent equity.
OTC Depth/Level II for Fec Resources Inc. vom 27.03.09 (FECOF):
Da stehen doch tatsächlich an 7 Stelle im ASK 500 Aktien für 2000 Dollar pro Stück, eingestellt von der UBS. Da will sich wohl ein UBS Banker noch seinen Boni sichern? Ob er die Aktien an den Mann/die Frau bringen kann?
Da stehen doch tatsächlich an 7 Stelle im ASK 500 Aktien für 2000 Dollar pro Stück, eingestellt von der UBS. Da will sich wohl ein UBS Banker noch seinen Boni sichern? Ob er die Aktien an den Mann/die Frau bringen kann?
immer höhere Produktion
From the Manila Standard Sat.4.4.09, Sun.5.4.09
Galoc shipping another 300,000 barrels to Japan
By Alena Mae S. Flores
Galoc Production Co. will ship another 300,000 barrels of Palawan Light crude to Japan next week, a company source said.
Galoc Production, a consortium of local and foreign oil and gas companies, operates the Galoc oil field in offshore northwest Palawan.
Galoc Production earlier sold 400,000 barrels of Palawan Light to South Korea, 300,000 barrels to Thailand, an undetermined volume to Japan and 300,000 barrels to local refiner Petron Corp.
“We got an advice that the target date of delivery to Japan is late next week. There is also the possibility that shipment to Japan will be increased,” the source said.
Last month, Galoc Production announced that it reached a milestone after producing 1 million barrels of oil from the field since October last year.
The Galoc field has been producing steadily, even exceeding pre-shut-in levels of over 16,000 barrels per day.
Production at the field is expected to gradually go down to 13,000 to 14,000 barrels a day.
The Galoc field is located in service contract 14-C in 290 meters of water, approximately 65 kilometers northwest of Palawan.
The field is estimated to contain 10 million barrels of recoverable oil reserves. Singapore’s Gaffney and Cline Associates, which conducted its own assessment, however, said the field could contain up to 49 million barrels.
From the Manila Standard Sat.4.4.09, Sun.5.4.09
Galoc shipping another 300,000 barrels to Japan
By Alena Mae S. Flores
Galoc Production Co. will ship another 300,000 barrels of Palawan Light crude to Japan next week, a company source said.
Galoc Production, a consortium of local and foreign oil and gas companies, operates the Galoc oil field in offshore northwest Palawan.
Galoc Production earlier sold 400,000 barrels of Palawan Light to South Korea, 300,000 barrels to Thailand, an undetermined volume to Japan and 300,000 barrels to local refiner Petron Corp.
“We got an advice that the target date of delivery to Japan is late next week. There is also the possibility that shipment to Japan will be increased,” the source said.
Last month, Galoc Production announced that it reached a milestone after producing 1 million barrels of oil from the field since October last year.
The Galoc field has been producing steadily, even exceeding pre-shut-in levels of over 16,000 barrels per day.
Production at the field is expected to gradually go down to 13,000 to 14,000 barrels a day.
The Galoc field is located in service contract 14-C in 290 meters of water, approximately 65 kilometers northwest of Palawan.
The field is estimated to contain 10 million barrels of recoverable oil reserves. Singapore’s Gaffney and Cline Associates, which conducted its own assessment, however, said the field could contain up to 49 million barrels.
Was war denn das heute?Da hat doch wirklich einer zu 4,8cent 15000Stk. gekauft.War wohl ein Börsenneuling der unlimitiert kauft.
Antwort auf Beitrag Nr.: 36.974.948 von Grauewoelfe am 15.04.09 20:42:30echt,bin vom Stuhl gerutscht
Antwort auf Beitrag Nr.: 36.975.413 von hainholz am 15.04.09 21:41:04Derjenige wird heute wohl kein Auge zumachen.Glückwunsch an den Verkäufer.
Antwort auf Beitrag Nr.: 36.975.413 von hainholz am 15.04.09 21:41:04Hammer, das Depot sieht zappengrün aus. Na ja, morgen gehts wieder return, leider!
Da sind aber Kurskapriolen.
Deutlich über Pari,warum auch immer.Komisch das da einer zu 0,001 verkauft hat.
Deutlich über Pari,warum auch immer.Komisch das da einer zu 0,001 verkauft hat.
FEC Secures Funding for 2009 Operational Budget
4/30/2009 5:44 PM - PR Newswire
CALGARY, Alberta, April 30, 2009 /PRNewswire-FirstCall via COMTEX News Network/ --
FEC Resources Inc. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FEC") announces that it has secured its fiscal 2009 operational funding through a loan from Philex Mining Corporation. The loan bears interest at Libor plus three percent and is repayable by 31 December 2010, though extendable upon agreement.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
For further information email info@fecresources.com.
On behalf of the Board of,
FEC Resources, Inc.
"Barry Stansfield"
Barry Stansfield
Chairman
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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
SOURCE FEC Resources Inc.
http://www.fecresources.com
Copyright (C) 2009 PR Newswire. All rights reserved
4/30/2009 5:44 PM - PR Newswire
CALGARY, Alberta, April 30, 2009 /PRNewswire-FirstCall via COMTEX News Network/ --
FEC Resources Inc. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FEC") announces that it has secured its fiscal 2009 operational funding through a loan from Philex Mining Corporation. The loan bears interest at Libor plus three percent and is repayable by 31 December 2010, though extendable upon agreement.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
For further information email info@fecresources.com.
On behalf of the Board of,
FEC Resources, Inc.
"Barry Stansfield"
Barry Stansfield
Chairman
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 (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
SOURCE FEC Resources Inc.
http://www.fecresources.com
Copyright (C) 2009 PR Newswire. All rights reserved
Waren heute gute Umsätze im Amiland.Ist da was im Anmarsch?
Monday, June 15, 2009
Galoc ships crude to Caltex’s Korean unit
Galoc Production Co. (GPC) has completed a shipment of crude to a major Korean refiner.
A company source said that GPC delivered 300,000 barrels of crude produced from the Galoc oil field in offshore Northwest Palawan basin to GS Caltex Corp, South Korea’s second-largest oil refiner, for an undisclosed price.
“There was a cargo offloading last Monday intended for Korea. Buyer is Caltex,” the source said.
Galoc, which was initially estimated to contain reserves of about 10 million barrels of oil, is the country’s first oil development project in decades. The oil field started production in October last year.
The oil field is operated by GPC, which owns a 58.29-percent stake. The company is a joint venture between the Vitol Group and Otto Energy Ltd.
Its partners in the project are Nido Petroleum Ltd., Oriental Petroleum and Minerals Corp./Linapacan Oil Gas & Power Corp., The Philodrill Corp., Forum Energy Philippines Corp., Alcorn Gold Resources Corp. and PetroEnergy Resources Corp.
The consortium running the field has sold and delivered over 400,000 barrels of crude to Korea, 300,000 barrels to Thailand and 300,000 barrels to local refiner Petron Corp. last year before mechanical troubles hobbled its production in Dec
Galoc ships crude to Caltex’s Korean unit
Galoc Production Co. (GPC) has completed a shipment of crude to a major Korean refiner.
A company source said that GPC delivered 300,000 barrels of crude produced from the Galoc oil field in offshore Northwest Palawan basin to GS Caltex Corp, South Korea’s second-largest oil refiner, for an undisclosed price.
“There was a cargo offloading last Monday intended for Korea. Buyer is Caltex,” the source said.
Galoc, which was initially estimated to contain reserves of about 10 million barrels of oil, is the country’s first oil development project in decades. The oil field started production in October last year.
The oil field is operated by GPC, which owns a 58.29-percent stake. The company is a joint venture between the Vitol Group and Otto Energy Ltd.
Its partners in the project are Nido Petroleum Ltd., Oriental Petroleum and Minerals Corp./Linapacan Oil Gas & Power Corp., The Philodrill Corp., Forum Energy Philippines Corp., Alcorn Gold Resources Corp. and PetroEnergy Resources Corp.
The consortium running the field has sold and delivered over 400,000 barrels of crude to Korea, 300,000 barrels to Thailand and 300,000 barrels to local refiner Petron Corp. last year before mechanical troubles hobbled its production in Dec
RNS Number : 2220U
Forum Energy Plc
19 June 2009
For immediate release
FORUM ENERGY plc
('Forum' or the 'Company')
Appointment of Director
Forum is delighted to announce the appointment of Mr. Roberto V. Ongpin as a Non-Executive Director of the Company.
Mr. Ongpin is currently Vice Chairman of Philex Mining Corporation, a company that, through its subsidiaries Philex Petroleum Corporation and FEC Resources, Inc, has an interest in 18,483,511 ordinary shares of Forum, representing 61.44% of the issued share capital of the Company.
Mr. Ongpin is also presently Deputy Chairman of the South China Morning Post (Hong Kong), Director of Shangri-La Asia (Hong Kong), Petron Corporation, Araneta Properties, Inc. as well as Chairman of Philweb Corporation, ISM Communications Corporation, Eastern Telecommunications Philippines, Inc., Alphaland Corporation and Developing Countries Investment Corporation.
He was former Chairman and Managing Partner of SyCip Gorres Velayo & Co. and served as Minister of Trade and Industry of the Republic of the Philippines from 1979 to 1986. He is a Certified Public Accountant and has an MBA from Harvard Business School.
For further information please contact:
Forum Energy Plc
Andrew Mullins, Tel: +44 (0)1932 445 344
Executive Director
Noble & Company Ltd (Nominated Adviser & Broker)
Brian Stockbridge Tel: +44 (0)20 7763 2200
Jarod Casey
Or visit the Company's website:
www.forumenergyplc.com
Additional information
In accordance with Schedule 2(g) of the AIM Rules the following information in relation to the appointment of Roberto V. Ongpin (aged 72) to the Board of Forum is disclosed:
Current directorships and partnerships:
Hong Kong
South China Morning Post
Shangri-La Asia
Philippines
Philweb Corporation
ISM Communications
Eastern Telecommunications Philippines Inc (ETPI)
Alphaland Corporation
Philex Mining Corporation
Petron Corporation
Araneta Properties, Inc.
Bahamas
Developing Countries Investment Corporation
Directorships and partnerships held in the past five years:
n/a
Save for the information disclosed above there is no other information falling to be disclosed under Schedule 2(g) of the AIM Rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
Forum Energy Plc
19 June 2009
For immediate release
FORUM ENERGY plc
('Forum' or the 'Company')
Appointment of Director
Forum is delighted to announce the appointment of Mr. Roberto V. Ongpin as a Non-Executive Director of the Company.
Mr. Ongpin is currently Vice Chairman of Philex Mining Corporation, a company that, through its subsidiaries Philex Petroleum Corporation and FEC Resources, Inc, has an interest in 18,483,511 ordinary shares of Forum, representing 61.44% of the issued share capital of the Company.
Mr. Ongpin is also presently Deputy Chairman of the South China Morning Post (Hong Kong), Director of Shangri-La Asia (Hong Kong), Petron Corporation, Araneta Properties, Inc. as well as Chairman of Philweb Corporation, ISM Communications Corporation, Eastern Telecommunications Philippines, Inc., Alphaland Corporation and Developing Countries Investment Corporation.
He was former Chairman and Managing Partner of SyCip Gorres Velayo & Co. and served as Minister of Trade and Industry of the Republic of the Philippines from 1979 to 1986. He is a Certified Public Accountant and has an MBA from Harvard Business School.
For further information please contact:
Forum Energy Plc
Andrew Mullins, Tel: +44 (0)1932 445 344
Executive Director
Noble & Company Ltd (Nominated Adviser & Broker)
Brian Stockbridge Tel: +44 (0)20 7763 2200
Jarod Casey
Or visit the Company's website:
www.forumenergyplc.com
Additional information
In accordance with Schedule 2(g) of the AIM Rules the following information in relation to the appointment of Roberto V. Ongpin (aged 72) to the Board of Forum is disclosed:
Current directorships and partnerships:
Hong Kong
South China Morning Post
Shangri-La Asia
Philippines
Philweb Corporation
ISM Communications
Eastern Telecommunications Philippines Inc (ETPI)
Alphaland Corporation
Philex Mining Corporation
Petron Corporation
Araneta Properties, Inc.
Bahamas
Developing Countries Investment Corporation
Directorships and partnerships held in the past five years:
n/a
Save for the information disclosed above there is no other information falling to be disclosed under Schedule 2(g) of the AIM Rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
Antwort auf Beitrag Nr.: 37.429.552 von xxtsc am 19.06.09 18:10:41Forum wird erfreut, um die Ernennung von Herrn Roberto V. Ongpin als ohne Entscheidungsbefugnis Direktor der Firma zu verkünden. Herr Ongpin ist z.Z. Vorsitzendes von Philex Mining Corporation, eine Firma, der, durch seine Tochtergesellschaften Philex Petroleum Corporation und FEC Betriebsmittel, Inc., ein Interesse an 18.483.511 Stammaktien Forum hat und stellt 61.44% des herausgegebenen Aktienkapitals der Firma dar. Herr Ongpin ist auch momentan stellvertretender Vorsitzender des South China Morning Post (Hong Kong), des Direktors von Shangri-La Asien (Hong Kong), Petron Corporation, Araneta Properties, Inc. sowie Vorsitzenden von Philweb Corporation, ISM Communications Corporation, Eastern Telecommunications Philippines, Inc., Alphaland Corporation und Entwicklungsland-Investitions-Korporation. Er war ehemaliger Vorsitzender und geschäftsführender geschäftsführenderer Gesellschafter von SyCip Gorres Velayo & Co. und gedient als Minister des Handels und Industrie des Republic Of The Philippines von 1979 bis 1986. Er ist ein Wirtschaftsprüfer und hat einen MBA von der Harvard-Wirtschaftsschule.
nicht schlecht
nicht schlecht
Antwort auf Beitrag Nr.: 37.437.105 von hainholz am 21.06.09 22:10:25COAL MINING IN CATANDUANES
Fri, 07/10/2009 - 18:28 — man-uukag
A Technical Working Group has been created to look into the possible effects of Coal Mining in Catanduanes. Members of this group came from various sectors such as the religious sector, professionals, academe, non-governmental organizations, the media, and representatives from the communities directly affected.
Here is the initial information’s gathered by the Technical Working Group of the Katandunganon Kontra Mina (KKM). We want to share this information’s to those who, like us, were deprived of our Right to Information (I hope this will shed light to some questions being raised):
The coal sample in the Catanduanes coal district was collected from the Eocene (ERA) Hitoma and Payo Formations. The coal we find today formed from generations of plants that died in ancient tropical swamps and accumulated on the swamp bottoms. The plant material first formed a compact organic material called peat. As layers of sediment gradually accumulated over the peat, the pressure and heat exerted by the thickening layers gradually drove out the moisture and increased the carbon content of the peat, forming coal.
The coals are in distinct beds, 0.3-1.5 m thick, and in stringers;
The coal measures are in NORTHEAST-TRENDING basin bound by two (2) NORTHEAST-TRENDING faults.
The coal beds are steeply dipping to almost vertical, having been deformed by faulting along both north-east and north-west trend.(del rosario and pastor, 2005)
The coal samples (indicated by blue arrows) from 10 coal districts were re-analyzed for their apparent rank by the U.S. Geological Survey. The coal resources for each of the districts are indicated in million metric tons (MMT). Pls see attached table
@ according to reports if 1.2 million metric tons of coal will be converted into cash it will amount to 200 million dollars or 9.4 billion pesos.
Monte Oro Resources & Energy Inc., is a privately held Philippine Company formed in 2005 to invest in: Mining, Oil & Gas and Infrastructure Investment; Chaired by Dr. Walter W. Brown- also a chairman of Philex Mining Corp.
The board of Monte Oro consist of a number of eminent Filipino businessman including WILSON SY, the former chairman of Philippine Stock Exchange. The company holds interest in both: COAL AND OIL AND GAS licenses in the Philippine.
FEC Resources Inc., chaired by LARRY W. YOUELL entered into a JOINT VENTURE AGREEMENT w/ MONTE ORO. Under the terms of agreement Monte Oro will acquire a 30% participating interest in GSEC101 the mother company of FEC in the amount of 1.5 million dollars.
Payment will take place after the award of service contract or completion of any future farm out transaction. The participation of Monte Oro in service contract application w/ DOE will entitle the joint venture to the Filipino Participation Incentive Allowance (FPIA) w/c equates to 7.5% of gross proceeds from any future production.
Monte Oro’s contract covers 2 blocks; Panganiban: 2,000 hectares, San Andres and Caramoran: 5,000 hectares. According to US Geological Survey: 1.) Coal in Catanduanes is of high quality, 2.) With coal of High Heating Value found only in the province, and 3.) 1.2 million metric tons of coal deposit.
EFFECTS ON THE ENVIRONMENT: Panganiban Block will reduce Payo River flows by more or less 25%. Caramoran and San Andres block will reduce flows of Bato River by 30% and Pajo River by 25%. Notwithstanding the Flash Floods, Soil Erosions, and Land Slides comes rainy season. Carbon sequestration will be substantial approximately 8.7 million tons of CO2 and it will have a tremendous effect on global warming.
Coal produces carbon dioxide and methane gas responsible for GLOBAL WARMING: As a result it will create numerous calamities, like storm surge, hurricane, typhoons and the rising of sea water level.
With Coal Mine, FOREST COVERS in Caramoran, San Andres, Virac and Panganiban will be downgraded w/ an equivalent of 7,000 has.
EFFECTS ON LIVELIHOOD: Targeted Mining Site will directly cut down ABACA. Catanduanes is a world producer of abaca. The most expensive carpet in the world can only be found in Catanduanes; MADE OF ABACA.
TIGER GRASS or LASA plantation will be obliterated. Caramoran is a known producer of LASA not only in Catanduanes but in the entire Philippines. Coconut Plantation (Copra), Supplies of Narra and Mahogany will be directly affected and other species of trees home of our flora and fauna.
Producers of furniture and house wood component will be affected. The economic value will be much higher than the projected monetary share of province, w/ its town and barangay.
EFFECTS ON THE POLITICAL CLIMATE OF CATANDUANES: The entry of coal mining in Catanduanes is politically timely with the advent of the political exercises in 2010, admit it or not politician is actually looking for a possible resources in order beef up their campaign fund for 2010 ELECTION. The offer made to Mayor Angeles of Panganiban is a classical example… P1 Million endorsement bonus, P500 thousand monthly allowance and 1 luxury AUV Vehicle.
According to the reports monte oro had actually conducted a background check on the lifestyle of public official before starting the exploration. Meaning to say any ADVERSARIES had already been anticipated prior to their operation.
In sum, there is always the possibility that Local Leaders in Catanduanes may be BRIBED to prevent any resistance to the project.
Fri, 07/10/2009 - 18:28 — man-uukag
A Technical Working Group has been created to look into the possible effects of Coal Mining in Catanduanes. Members of this group came from various sectors such as the religious sector, professionals, academe, non-governmental organizations, the media, and representatives from the communities directly affected.
Here is the initial information’s gathered by the Technical Working Group of the Katandunganon Kontra Mina (KKM). We want to share this information’s to those who, like us, were deprived of our Right to Information (I hope this will shed light to some questions being raised):
The coal sample in the Catanduanes coal district was collected from the Eocene (ERA) Hitoma and Payo Formations. The coal we find today formed from generations of plants that died in ancient tropical swamps and accumulated on the swamp bottoms. The plant material first formed a compact organic material called peat. As layers of sediment gradually accumulated over the peat, the pressure and heat exerted by the thickening layers gradually drove out the moisture and increased the carbon content of the peat, forming coal.
The coals are in distinct beds, 0.3-1.5 m thick, and in stringers;
The coal measures are in NORTHEAST-TRENDING basin bound by two (2) NORTHEAST-TRENDING faults.
The coal beds are steeply dipping to almost vertical, having been deformed by faulting along both north-east and north-west trend.(del rosario and pastor, 2005)
The coal samples (indicated by blue arrows) from 10 coal districts were re-analyzed for their apparent rank by the U.S. Geological Survey. The coal resources for each of the districts are indicated in million metric tons (MMT). Pls see attached table
@ according to reports if 1.2 million metric tons of coal will be converted into cash it will amount to 200 million dollars or 9.4 billion pesos.
Monte Oro Resources & Energy Inc., is a privately held Philippine Company formed in 2005 to invest in: Mining, Oil & Gas and Infrastructure Investment; Chaired by Dr. Walter W. Brown- also a chairman of Philex Mining Corp.
The board of Monte Oro consist of a number of eminent Filipino businessman including WILSON SY, the former chairman of Philippine Stock Exchange. The company holds interest in both: COAL AND OIL AND GAS licenses in the Philippine.
FEC Resources Inc., chaired by LARRY W. YOUELL entered into a JOINT VENTURE AGREEMENT w/ MONTE ORO. Under the terms of agreement Monte Oro will acquire a 30% participating interest in GSEC101 the mother company of FEC in the amount of 1.5 million dollars.
Payment will take place after the award of service contract or completion of any future farm out transaction. The participation of Monte Oro in service contract application w/ DOE will entitle the joint venture to the Filipino Participation Incentive Allowance (FPIA) w/c equates to 7.5% of gross proceeds from any future production.
Monte Oro’s contract covers 2 blocks; Panganiban: 2,000 hectares, San Andres and Caramoran: 5,000 hectares. According to US Geological Survey: 1.) Coal in Catanduanes is of high quality, 2.) With coal of High Heating Value found only in the province, and 3.) 1.2 million metric tons of coal deposit.
EFFECTS ON THE ENVIRONMENT: Panganiban Block will reduce Payo River flows by more or less 25%. Caramoran and San Andres block will reduce flows of Bato River by 30% and Pajo River by 25%. Notwithstanding the Flash Floods, Soil Erosions, and Land Slides comes rainy season. Carbon sequestration will be substantial approximately 8.7 million tons of CO2 and it will have a tremendous effect on global warming.
Coal produces carbon dioxide and methane gas responsible for GLOBAL WARMING: As a result it will create numerous calamities, like storm surge, hurricane, typhoons and the rising of sea water level.
With Coal Mine, FOREST COVERS in Caramoran, San Andres, Virac and Panganiban will be downgraded w/ an equivalent of 7,000 has.
EFFECTS ON LIVELIHOOD: Targeted Mining Site will directly cut down ABACA. Catanduanes is a world producer of abaca. The most expensive carpet in the world can only be found in Catanduanes; MADE OF ABACA.
TIGER GRASS or LASA plantation will be obliterated. Caramoran is a known producer of LASA not only in Catanduanes but in the entire Philippines. Coconut Plantation (Copra), Supplies of Narra and Mahogany will be directly affected and other species of trees home of our flora and fauna.
Producers of furniture and house wood component will be affected. The economic value will be much higher than the projected monetary share of province, w/ its town and barangay.
EFFECTS ON THE POLITICAL CLIMATE OF CATANDUANES: The entry of coal mining in Catanduanes is politically timely with the advent of the political exercises in 2010, admit it or not politician is actually looking for a possible resources in order beef up their campaign fund for 2010 ELECTION. The offer made to Mayor Angeles of Panganiban is a classical example… P1 Million endorsement bonus, P500 thousand monthly allowance and 1 luxury AUV Vehicle.
According to the reports monte oro had actually conducted a background check on the lifestyle of public official before starting the exploration. Meaning to say any ADVERSARIES had already been anticipated prior to their operation.
In sum, there is always the possibility that Local Leaders in Catanduanes may be BRIBED to prevent any resistance to the project.
Antwort auf Beitrag Nr.: 37.549.469 von xxtsc am 10.07.09 15:42:06interessant
hier auch was neues
Remaining Galoc consortium
members raise stake in oil well
SOME of the Galoc oil field’s consortium members jacked up their interest in the project with the exit of two minority stakeholders.
In a regulatory filing, Nido Petroleum Ltd. of Australia said it has increased its interest in Galoc by 0.60 percent to 22.88 percent.
The increase was brought about by the sale of PetroEnergy Resources Corp. and Alcorn Gold Resources Corp. of their respective 1.03 and 1.53-percent shares in the project.
“The acquisition from minority partners signifies Nido’s confidence in the Galoc operation, which has to date, produced over 2 million barrels of oil (more than 500,000 barrels net to Nido) since first oil in October 2008,” Joanne Williams, Nido deputy managing director, said.
Besides Nido, its other partners in the project also raised their shares. Galoc Production Co. (GPC), which operates the oil field, increase its participating interest by 1.55 percent to 59.84 percent; Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp. by 0.21 percent to 7.79 percent; and The Philodrill Corp. by 0.20 percent to 7.22 percent.
Forum Energy Philippines Corp. maintained its 2.28-percent interest in the project.
PetroEnergy and Alcorn earlier decided to sell their shares for $800,000 per percentage interest point to their partners because they saw their shareholdings as too minimal to contribute significantly to their revenues, considering the risks involved in the oil field.
Located in offshore Northwest Palawan Basin, Galoc is the Philippines’ first oil development project in over a decade. It was estimated to hold crude reserves of up to 10 million barrels of oil when GPC and its partners committed to undertake the project in 2006.
But an independent study commissioned last year by Nido found that Galoc may yield at least 40 million barrels of oil.
Since starting production in 2008, Galoc has been churning out oil at a rate of about 15,000 barrels a day although production at the field was recently suspended because of adverse weather conditions that led to mechanical troubles.
-- Euan Paulo C. Añonuevo
Manila Times Friends
Sponsored Links
hier auch was neues
Remaining Galoc consortium
members raise stake in oil well
SOME of the Galoc oil field’s consortium members jacked up their interest in the project with the exit of two minority stakeholders.
In a regulatory filing, Nido Petroleum Ltd. of Australia said it has increased its interest in Galoc by 0.60 percent to 22.88 percent.
The increase was brought about by the sale of PetroEnergy Resources Corp. and Alcorn Gold Resources Corp. of their respective 1.03 and 1.53-percent shares in the project.
“The acquisition from minority partners signifies Nido’s confidence in the Galoc operation, which has to date, produced over 2 million barrels of oil (more than 500,000 barrels net to Nido) since first oil in October 2008,” Joanne Williams, Nido deputy managing director, said.
Besides Nido, its other partners in the project also raised their shares. Galoc Production Co. (GPC), which operates the oil field, increase its participating interest by 1.55 percent to 59.84 percent; Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp. by 0.21 percent to 7.79 percent; and The Philodrill Corp. by 0.20 percent to 7.22 percent.
Forum Energy Philippines Corp. maintained its 2.28-percent interest in the project.
PetroEnergy and Alcorn earlier decided to sell their shares for $800,000 per percentage interest point to their partners because they saw their shareholdings as too minimal to contribute significantly to their revenues, considering the risks involved in the oil field.
Located in offshore Northwest Palawan Basin, Galoc is the Philippines’ first oil development project in over a decade. It was estimated to hold crude reserves of up to 10 million barrels of oil when GPC and its partners committed to undertake the project in 2006.
But an independent study commissioned last year by Nido found that Galoc may yield at least 40 million barrels of oil.
Since starting production in 2008, Galoc has been churning out oil at a rate of about 15,000 barrels a day although production at the field was recently suspended because of adverse weather conditions that led to mechanical troubles.
-- Euan Paulo C. Añonuevo
Manila Times Friends
Sponsored Links
Antwort auf Beitrag Nr.: 37.552.058 von hainholz am 10.07.09 20:22:33Hallo Hainholz, der FEC- Trend ist derzeit immer noch bearish, wird aber immer schwächer. IMO sollte eine Umkehrung des Trends bald bevorstehen. Bzgl. der Projekte tut sich viel im Hintergrund und FEC verzichtet auf jegliche PR. Ich denke, der Hype wird bei guten News innerhalb kurzer Zeit erfolgen. Dann heißt es dabei zu sein. Habe mich bei den letzten US-Ausverkäufen gut eingedeckt.Im Yahoo und ADVN-Board spielt FEC so gut wie keine Rolle und hat dort kein gutes Image. FECOF wird aber auf zahlreichen US - Pennystocklists als TOP geführt, so z.B. auf dieser:
http://stockmp.blogspot.com/2009/06/top-20-otcbbpink-sheet-m…
Gruß
http://stockmp.blogspot.com/2009/06/top-20-otcbbpink-sheet-m…
Gruß
Folgender Artikel ist nochmals eine Zusammenfassung des Catanduanes-Projekts. 1,2 Mill. Tonnen Kohle sind nun nicht gerade viel, zumal die Förderung über mehrere Jahre erfolgt und der Gewinn auf mehrere Gesellschaften aufzuteilen ist. Zum Vergleich: Gulfside soll über Res. von glaube ich 70 Mill. T. Kohle verfügen, also bedeutend mehr. Noch gibt es auch Widerstand besonders von Seiten der katholischen Kirche. Aber wer weiß, vielleicht stellt sich später heraus, dass die Catanduanes-Reserven doch größer sind.
Auf alle Fälle verfügt FEC Resources nicht nur über "Salat-ÖL" ( Original-Text Yahoo Board ), Kohle, Gas und Gold werden imo die Marktcap. von derzeit 2,17 Mill. US-$ in höhere Regionen befördern. Die Frage ist wann und wie hoch, schließlich ist FEC bei den anderen Gesellschaften beteiligt und umgekehrt genauso.
Gruß
July 14, 2009
DOE Allows Mining of Rich Coal Deposits in Catanduanes - BM
VIRAC, Catanduanes—The Department of Energy (DOE) has approved the mining of this island province’s estimated 1.2 million metric tons of high-quality coal deposits under the fourth Philippine Energy Contracting Round (PECR) of 2009.
Based on the prevailing world market price of coal, this volume is worth $200 million (P9.4 billion), a recent report citing a US geological survey said.
The Catanduanes coal district covers 8,000 hectares in 14 upland barangays within Panganiban, San Andres and Caramoran, all major abaca and coconut producing municipalities sitting at the heart of the 1,511.5-square-kilometer island.
Monte Oro Resources and Energy Inc. (Morei), a private Philippine company formed in 2005 to engage in mining and energy investments, holds a mining contract for the area awarded by the DOE under the second PECR that year.
Morei is chaired by Walter Brown, also a chairman of Philex Mining Corp. Wilson Sy, former chairman of the Philippine Stock Exchange, is also reportedly a member of its board of directors.
FEC Resources Inc., chaired by Larry Youell, has entered into a joint-venture agreement with Morei. The terms of agreement provides, among others, that the latter acquires a 30-percent participating interest in GSEC101, the mother company of FEC, in the amount of $1.5 million.
The participation of Morei in the service contract application with the DOE entitles the joint venture to the Filipino Participation Incentive Allowance that equates to 7.5 percent of gross proceeds from any future production.
Morei’s mining contract with the DOE covers two blocks: 2,000 hectares within Panganiban and 5,000 hectares in San Andres and Caramoran.
The entire area is capable of yielding 1.2 million metric tons of top quality coal with high heating value, a US geological survey said.
Actual mining operations, however, have yet to take place because of opposition by several sectors, including local government units (LGUs) and the Catholic Church.
On October 30, 2008, DOE Secretary Angelo Reyes issued Small-Scale Coal Mining Permit 2008-018 to Policarpio Torres, covering the 2,000-hectare parcel of coal-bearing land in barangay San Miguel, Panganiban.
Torres of Tambongon in Viga town presented the documents to the municipal legislative council of Panganiban on June 15 and sought its endorsement for his mining operation in the municipality.
Under the permit, valid for five years, Torres will pursue small-scale coal-mining operations at a production rate of 7,333 metric tons per year to be done under the supervision of Morei when its coal-operating contract is converted to production.
All coal produced by Torres shall be sold to Morei at a mutually agreed price, the permit stated.
The town council turned down Torres’s request for endorsement as Norma Aquino, vice mayor of Camantigue, said “there are no records showing that DOE and other concerned government agencies complied with the provisions of the Local Government Code, particularly with regards to prior consultation with LGUs, NGOs [nongovernment organizations] and other sectors affected by the proposed coal-mining exploration and production.”
The local hierarchy of the Catholic Church, headed by Bishop Manolo de los Santos also reiterated its stand against the mining operations.
Earlier, the bishop issued a statement of concern on mining that was read in all churches in the province, appealing to local and national leaders to stop all mining operations in the province in the absence of public consultation with affected sectors.
The statement said Catandunganons have the right to know the disastrous effects mining would bring to the island and its people and that the island cannot shoulder such negative effects.
“We don’t want our island and our people to suffer from such tragedies brought about by irresponsible mining activity,” the bishop stressed, asking the faithful to support and stand by the diocese in the struggle against large-scale mining and the blatant exploitation of the island’s rich natural resources.
A technical working group, the Katandunganon Kontra Mina (KKM), evaluated the effects of the coal mining operations.
The group said large-scale mining operations will directly cut down local abaca production and adversely affect the province’s reputation as one of the world’s leading producers of abaca.
The vast plantation of tiger grass, another of the island’s export products, will be obliterated while its coconut industry and forest cover will be downgraded to an equivalent of 7,000 hectares, the KKM said.
Coal is the world’s leading source of electricity today. Unfortunately, it is also the No. 1 source of carbon-dioxide emissions responsible for about 70 percent of man-made global warming, the group said.
Experts, however, say coal will remain an important global energy source despite its reputation as the world’s dirtiest fossil fuel, the group added.
Reyes, meanwhile, said in a statement, “We have undertaken a thorough process of resource evaluation to yield high exploration success that is in line with our goal of efficient development and production of the coal areas.”
Ultimately, the government hopes that coal areas in the country will increase local production to serve the country’s increasing energy demand, he added.
Rufino Bomansang, a Philippine energy resources expert and vice chairman of MG Mining and Energy Corp., said in a statement that untapped coal resources in the Philippines can produce 1,000 to 2,000 megawatts of electricity in at least 25 years to provide cost-effective alternatives to imported oil and coal.
While coal mining, especially open-pit mining and coal combustion, can potentially have very serious impacts on the environment, these concerns can be substantially minimized, if not totally eliminated, with the use of modern technology, Bomansang said.
“I also fully share the vision of environmentalists of a world that is as carbon-free as possible using primarily renewable-energy sources. I am an unpaid board chairman of a renewable-energy nongovernment organization and also of a renewable-energy developer,” he added.
Catanduanes coal is part of the vast energy source prospects in the Bicol region being eyed by the DOE for exploration. The others are in Batan Island of Rapu-rapu, Albay; Cataingan, Masbate; and Gubat, Bacon and Prieto Diaz in Sorsogon.
A coal-operating contract has already been issued by the DOE in April covering Bacon and Gubat.
Written by Danny O. Calleja / Correspondent
Monday, 13 July 2009 21:03
Source: Business Mirror
Auf alle Fälle verfügt FEC Resources nicht nur über "Salat-ÖL" ( Original-Text Yahoo Board ), Kohle, Gas und Gold werden imo die Marktcap. von derzeit 2,17 Mill. US-$ in höhere Regionen befördern. Die Frage ist wann und wie hoch, schließlich ist FEC bei den anderen Gesellschaften beteiligt und umgekehrt genauso.
Gruß
July 14, 2009
DOE Allows Mining of Rich Coal Deposits in Catanduanes - BM
VIRAC, Catanduanes—The Department of Energy (DOE) has approved the mining of this island province’s estimated 1.2 million metric tons of high-quality coal deposits under the fourth Philippine Energy Contracting Round (PECR) of 2009.
Based on the prevailing world market price of coal, this volume is worth $200 million (P9.4 billion), a recent report citing a US geological survey said.
The Catanduanes coal district covers 8,000 hectares in 14 upland barangays within Panganiban, San Andres and Caramoran, all major abaca and coconut producing municipalities sitting at the heart of the 1,511.5-square-kilometer island.
Monte Oro Resources and Energy Inc. (Morei), a private Philippine company formed in 2005 to engage in mining and energy investments, holds a mining contract for the area awarded by the DOE under the second PECR that year.
Morei is chaired by Walter Brown, also a chairman of Philex Mining Corp. Wilson Sy, former chairman of the Philippine Stock Exchange, is also reportedly a member of its board of directors.
FEC Resources Inc., chaired by Larry Youell, has entered into a joint-venture agreement with Morei. The terms of agreement provides, among others, that the latter acquires a 30-percent participating interest in GSEC101, the mother company of FEC, in the amount of $1.5 million.
The participation of Morei in the service contract application with the DOE entitles the joint venture to the Filipino Participation Incentive Allowance that equates to 7.5 percent of gross proceeds from any future production.
Morei’s mining contract with the DOE covers two blocks: 2,000 hectares within Panganiban and 5,000 hectares in San Andres and Caramoran.
The entire area is capable of yielding 1.2 million metric tons of top quality coal with high heating value, a US geological survey said.
Actual mining operations, however, have yet to take place because of opposition by several sectors, including local government units (LGUs) and the Catholic Church.
On October 30, 2008, DOE Secretary Angelo Reyes issued Small-Scale Coal Mining Permit 2008-018 to Policarpio Torres, covering the 2,000-hectare parcel of coal-bearing land in barangay San Miguel, Panganiban.
Torres of Tambongon in Viga town presented the documents to the municipal legislative council of Panganiban on June 15 and sought its endorsement for his mining operation in the municipality.
Under the permit, valid for five years, Torres will pursue small-scale coal-mining operations at a production rate of 7,333 metric tons per year to be done under the supervision of Morei when its coal-operating contract is converted to production.
All coal produced by Torres shall be sold to Morei at a mutually agreed price, the permit stated.
The town council turned down Torres’s request for endorsement as Norma Aquino, vice mayor of Camantigue, said “there are no records showing that DOE and other concerned government agencies complied with the provisions of the Local Government Code, particularly with regards to prior consultation with LGUs, NGOs [nongovernment organizations] and other sectors affected by the proposed coal-mining exploration and production.”
The local hierarchy of the Catholic Church, headed by Bishop Manolo de los Santos also reiterated its stand against the mining operations.
Earlier, the bishop issued a statement of concern on mining that was read in all churches in the province, appealing to local and national leaders to stop all mining operations in the province in the absence of public consultation with affected sectors.
The statement said Catandunganons have the right to know the disastrous effects mining would bring to the island and its people and that the island cannot shoulder such negative effects.
“We don’t want our island and our people to suffer from such tragedies brought about by irresponsible mining activity,” the bishop stressed, asking the faithful to support and stand by the diocese in the struggle against large-scale mining and the blatant exploitation of the island’s rich natural resources.
A technical working group, the Katandunganon Kontra Mina (KKM), evaluated the effects of the coal mining operations.
The group said large-scale mining operations will directly cut down local abaca production and adversely affect the province’s reputation as one of the world’s leading producers of abaca.
The vast plantation of tiger grass, another of the island’s export products, will be obliterated while its coconut industry and forest cover will be downgraded to an equivalent of 7,000 hectares, the KKM said.
Coal is the world’s leading source of electricity today. Unfortunately, it is also the No. 1 source of carbon-dioxide emissions responsible for about 70 percent of man-made global warming, the group said.
Experts, however, say coal will remain an important global energy source despite its reputation as the world’s dirtiest fossil fuel, the group added.
Reyes, meanwhile, said in a statement, “We have undertaken a thorough process of resource evaluation to yield high exploration success that is in line with our goal of efficient development and production of the coal areas.”
Ultimately, the government hopes that coal areas in the country will increase local production to serve the country’s increasing energy demand, he added.
Rufino Bomansang, a Philippine energy resources expert and vice chairman of MG Mining and Energy Corp., said in a statement that untapped coal resources in the Philippines can produce 1,000 to 2,000 megawatts of electricity in at least 25 years to provide cost-effective alternatives to imported oil and coal.
While coal mining, especially open-pit mining and coal combustion, can potentially have very serious impacts on the environment, these concerns can be substantially minimized, if not totally eliminated, with the use of modern technology, Bomansang said.
“I also fully share the vision of environmentalists of a world that is as carbon-free as possible using primarily renewable-energy sources. I am an unpaid board chairman of a renewable-energy nongovernment organization and also of a renewable-energy developer,” he added.
Catanduanes coal is part of the vast energy source prospects in the Bicol region being eyed by the DOE for exploration. The others are in Batan Island of Rapu-rapu, Albay; Cataingan, Masbate; and Gubat, Bacon and Prieto Diaz in Sorsogon.
A coal-operating contract has already been issued by the DOE in April covering Bacon and Gubat.
Written by Danny O. Calleja / Correspondent
Monday, 13 July 2009 21:03
Source: Business Mirror
Forum Energy hat heute in London um 35,56% zugelegt bei 88.9k Volumen. News gibt es keine.
Gruß
Gruß
vague rumours that they are close to a chinese deal, has anyone else heard this or have any details on it more than rumours. I must admit it moved alot on quite small volume.
man vermutet nen chinesen deal
man vermutet nen chinesen deal
und es geht weiter in London
FORUM ENERGYFEP
35.00 4.50 (14.75%)
da ist wohl schwer was im Anmarsch
FORUM ENERGYFEP
35.00 4.50 (14.75%)
da ist wohl schwer was im Anmarsch
das ist ja schon recht unheimlich in London
jetzt schon
FORUM ENERGYFEP
40.50 10.00 (32.79%)
jetzt schon
FORUM ENERGYFEP
40.50 10.00 (32.79%)
Antwort auf Beitrag Nr.: 37.751.272 von hainholz am 11.08.09 09:41:46schauen wir mal, was da dahinter steckt
RT...GBp 36,0
...in der tat ein ´spürbarer´ ansprung !!!!
wenn sich china- rumors bestätigen sollten könnten wir vor ner
schöner sommer- rally stehen
aha !!!
Forum Energy plans to start natural gas project by year-end
Sunday, 09 August 2009 19:01
THE country may end the year or start next year with an additional supply of locally produced natural gas.
This is what Forum Energy Philippines president Jose Raymund Apostol told reporters on Friday, as he revealed company plans to start the production of natural gas from its Libertad gas field in Cebu the soonest possible time.
Forum Exploration Inc., a wholly owned unit of Forum Energy, holds 66.66 percent of the Libertad project. Another unit, Forum Pacific Inc., owns the remaining 33.33 percent.
Apostol said preparations are under way to extract and produce gas hopefully by the end of the year or early next year.
Under Service Contract 40, Forum Energy explored and developed the Libertad field situated in northern Cebu. The gas field was discovered in the late 1950s but was never developed.
From 1993 to 1995, a testing program was carried out that involved the drilling of seven wells. During the testing program, one of the wells proved positive results for gas availability.
In 2004, Forum Energy conducted a feasibility study to determine the most commercially viable option for the development of the field, which recommended a development plan using three gas-to-electricity generators with a maximum capacity of 3 megawatts (MW). The 3-MW facility was proposed by Desco, a leading provider of petroleum and geothermal products and services in the Philippines.
In February, Forum Energy signed a gas sale and purchase agreement with Desco for the development of the Libertad gas field for power generation. The deal calls for Desco to install within the year a 1-MW to 1.5-MW power generating unit in Bogo, northern Cebu, using GE Jenbacher gas engines.
For its part, Forum Energy is obliged to sell the gas to Desco at an agreed rate of $1.50 per million British Thermal Units (BTU) for the first 0.70 billion cubic feet (BCF) of gas extracted and utilized, and $1.60 per million BTU for any gas produced beyond 0.70 BCF.
Apostol said Desco will bring in power generating units that will be fueled by the gas coming out of the Libertad field.
He added that the development of the field involves Desco, Forum Energy and the Department of Energy (DOE).
Apostol also noted that negotiations are ongoing for a supply agreement between Cebu Electric Cooperative Inc. and Desco for this purpose.
DOE Undersecretary Ramon Oca confirmed that Forum Energy is in talks with the energy department for the construction of the gas plant. “It [the gas plant] will help ease [energy demand] in Cebu,” said the energy official, adding that the plant is designed to a modular type on-site. Paul Isla
Forum Energy plans to start natural gas project by year-end
Sunday, 09 August 2009 19:01
THE country may end the year or start next year with an additional supply of locally produced natural gas.
This is what Forum Energy Philippines president Jose Raymund Apostol told reporters on Friday, as he revealed company plans to start the production of natural gas from its Libertad gas field in Cebu the soonest possible time.
Forum Exploration Inc., a wholly owned unit of Forum Energy, holds 66.66 percent of the Libertad project. Another unit, Forum Pacific Inc., owns the remaining 33.33 percent.
Apostol said preparations are under way to extract and produce gas hopefully by the end of the year or early next year.
Under Service Contract 40, Forum Energy explored and developed the Libertad field situated in northern Cebu. The gas field was discovered in the late 1950s but was never developed.
From 1993 to 1995, a testing program was carried out that involved the drilling of seven wells. During the testing program, one of the wells proved positive results for gas availability.
In 2004, Forum Energy conducted a feasibility study to determine the most commercially viable option for the development of the field, which recommended a development plan using three gas-to-electricity generators with a maximum capacity of 3 megawatts (MW). The 3-MW facility was proposed by Desco, a leading provider of petroleum and geothermal products and services in the Philippines.
In February, Forum Energy signed a gas sale and purchase agreement with Desco for the development of the Libertad gas field for power generation. The deal calls for Desco to install within the year a 1-MW to 1.5-MW power generating unit in Bogo, northern Cebu, using GE Jenbacher gas engines.
For its part, Forum Energy is obliged to sell the gas to Desco at an agreed rate of $1.50 per million British Thermal Units (BTU) for the first 0.70 billion cubic feet (BCF) of gas extracted and utilized, and $1.60 per million BTU for any gas produced beyond 0.70 BCF.
Apostol said Desco will bring in power generating units that will be fueled by the gas coming out of the Libertad field.
He added that the development of the field involves Desco, Forum Energy and the Department of Energy (DOE).
Apostol also noted that negotiations are ongoing for a supply agreement between Cebu Electric Cooperative Inc. and Desco for this purpose.
DOE Undersecretary Ramon Oca confirmed that Forum Energy is in talks with the energy department for the construction of the gas plant. “It [the gas plant] will help ease [energy demand] in Cebu,” said the energy official, adding that the plant is designed to a modular type on-site. Paul Isla
Antwort auf Beitrag Nr.: 37.752.464 von hbg55 am 11.08.09 11:38:30hoffen wir das es mit fec auch mal wieder hoch geht.
aber nicht heute, hab noch eine order bei 0,002$ drinnen
aber nicht heute, hab noch eine order bei 0,002$ drinnen
Antwort auf Beitrag Nr.: 37.752.704 von schneebe am 11.08.09 12:02:55ich meine es kommt ja geld ins haus durch kohleverkäufe,ölverkäufe und demnächst das neue gasfeld.
außerdem steht ja noch das riesengasfeld zu buche,mit dem es ja auch mal weitergehen muß.
außerdem steht ja noch das riesengasfeld zu buche,mit dem es ja auch mal weitergehen muß.
Antwort auf Beitrag Nr.: 37.752.704 von schneebe am 11.08.09 12:02:55Aha, alle wieder an Bord?
Hast Du nicht beim letzten Ausverkauf zugeschlagen, da gings unter 0,002 $.
Forum Energy:
Shares: 30,084,121
SUBSTANTIAL SHAREHOLDERS
Philex Petroleum Corporation: 9,933,311 33.02%
FEC Resources, Inc: 8,550,200 28.42%
Wellington Asset Management Ltd: 7,804,778 25.94%
Gruß
Hast Du nicht beim letzten Ausverkauf zugeschlagen, da gings unter 0,002 $.
Forum Energy:
Shares: 30,084,121
SUBSTANTIAL SHAREHOLDERS
Philex Petroleum Corporation: 9,933,311 33.02%
FEC Resources, Inc: 8,550,200 28.42%
Wellington Asset Management Ltd: 7,804,778 25.94%
Gruß
Philex doubles profit goal as gold prices surge
08/12/2009
Philex Mining Corp. has doubled its profit target this year to P3 billion from P1.5 billion on the back of a P2.8 billion profit last year as a result of stronger gold and copper prices.
In a report to the Philippine Stock Exchange (PSE) yesterday, Philex vice president for finance Renato Migrino said the higher projection is based on the currently prevailing level of metal prices at $950 per ounce gold and $2.50 per pound copper.
Philex has also disclosed the extension of its Padcal mine’s projected operating life from 2014, as previously declared, to 2017, based on the proved reserves of the mine as of June 30, 2009 of 74 million tons, at assumed metal prices of $800 per ounce gold and $2.00 per pound copper and at copper equivalent cut-off of 0.36 percent.
"Please note that none of the above projections takes into account any of the company’s oil and gas projects, especially the recently announced offshore oil discovery in Vietnam of Pitkin Petroleum in which the company is a 21.1 percent shareholder, and the Sampaguita natural gas discovery in the northwest coast of Palawan under GSEC 101 which is pending conversion into a service contract for further exploration," Migrino said.
"It is the company’s view that these oil and gas properties have substantial value the magnitude of which could justify taking them into a separate initiative from the company’s mining ventures which historically have been its core business," Migrino said.
He added that Philex is studying the possible structures or business options that could enable it to further enhance the strategic value of its oil and gas assets to the full advantage and its stockholders.
Meanwhile, Philex disclosed a net income of P1.1 billion for the first half of 2009, 49 percent lower than the P2.2 billion net income for the same period last year, mainly due to lower volumes and the expiration of the Padcal operations’ income tax holiday.
08/12/2009
Philex Mining Corp. has doubled its profit target this year to P3 billion from P1.5 billion on the back of a P2.8 billion profit last year as a result of stronger gold and copper prices.
In a report to the Philippine Stock Exchange (PSE) yesterday, Philex vice president for finance Renato Migrino said the higher projection is based on the currently prevailing level of metal prices at $950 per ounce gold and $2.50 per pound copper.
Philex has also disclosed the extension of its Padcal mine’s projected operating life from 2014, as previously declared, to 2017, based on the proved reserves of the mine as of June 30, 2009 of 74 million tons, at assumed metal prices of $800 per ounce gold and $2.00 per pound copper and at copper equivalent cut-off of 0.36 percent.
"Please note that none of the above projections takes into account any of the company’s oil and gas projects, especially the recently announced offshore oil discovery in Vietnam of Pitkin Petroleum in which the company is a 21.1 percent shareholder, and the Sampaguita natural gas discovery in the northwest coast of Palawan under GSEC 101 which is pending conversion into a service contract for further exploration," Migrino said.
"It is the company’s view that these oil and gas properties have substantial value the magnitude of which could justify taking them into a separate initiative from the company’s mining ventures which historically have been its core business," Migrino said.
He added that Philex is studying the possible structures or business options that could enable it to further enhance the strategic value of its oil and gas assets to the full advantage and its stockholders.
Meanwhile, Philex disclosed a net income of P1.1 billion for the first half of 2009, 49 percent lower than the P2.2 billion net income for the same period last year, mainly due to lower volumes and the expiration of the Padcal operations’ income tax holiday.
Antwort auf Beitrag Nr.: 37.753.561 von xxtsc am 11.08.09 13:35:52nee leider nicht, habe keine unter 0,002 $ bekommen
Antwort auf Beitrag Nr.: 37.763.226 von schneebe am 12.08.09 14:49:40macht doch nix wenn der rest steigt,oder?
ach so
0,0040
+100,00 %
+0,0020
0,0040
+100,00 %
+0,0020
Antwort auf Beitrag Nr.: 37.763.304 von hainholz am 12.08.09 14:57:52da hab ich nichts dagegen
the Galoc Production Company WLL (GPC), that production
at the Galoc Oil Field recommenced at 08.30hrs (local time) today.
After initial flush production it is anticipated that daily throughput will
stabilise at pre-shut down levels of 11,000 barrels of oil per day.
ASX ANNOUNCEMENT
13 August 2009
at the Galoc Oil Field recommenced at 08.30hrs (local time) today.
After initial flush production it is anticipated that daily throughput will
stabilise at pre-shut down levels of 11,000 barrels of oil per day.
ASX ANNOUNCEMENT
13 August 2009
OTCBB (USD) 0,0060 +100,00 +0,0030
Results of AGM and Corporate Update
2009-09-02 13:47 ET - News Release
CALGARY, Alberta, Sept. 2 /PRNewswire-FirstCall/ -- FEC Resources, Inc. announces that all resolutions were passed at the AGM held on 24th August 2009.
The Company wishes to announce the appointment of the following officers of the Company effective immediately.
Jose Ernesto Villaluna, Jr., President and CEO
Mr. Villaluna is a nominee of Philex Mining Corporation and is currently the President & Chief Operating Officer of Philex which holds a 51% majority stake in FEC.
Andrew Mullins, Executive Director
Mr. Mullins is a nominee of Philex Mining Corporation and is also an Executive Director of Forum Energy Plc, FEC's principal asset in which the Company has a direct 28% equity interest.
Renato Migrino, Treasurer and Director
Mr. Migrino is a nominee of Philex Mining Corporation and is currently the Treasurer and CFO of Philex.
Franklin Cu, Director
Mr. Franklin Cu is a nominee of Philex Mining Corporation and is also a Director of Philex Gold, Inc.
Barry Stansfield continues as Chairman and Riaz Sumar as CFO & Corporate Secretary, respectively.
J. E. Villaluna, Jr., President & CEO commented:
"The recent appointments at FEC greatly strengthens our board from an Operational, Financial and Corporate perspective, and I am looking forward to some positive developments with the Company going-forward."
"FEC not only has for a majority shareholder Philex Mining, the largest independent Filipino Mining Company with a market capitalization of over $1Bn, but also holds a significant equity stake in Forum Energy Plc, which in turn holds the potentially world class Sampaguita Gas Discovery though the GSEC101 license area in the South China Sea."
"The GSEC101 license is pending conversion to a Service Contract and once converted can create material value for our shareholders."
Further updates on FEC's holdings including its 40% shareholding in Lascogon Mining Corporation, which holds the MPSA148 Gold concession in Mindanao, Philippines, will be made in due course.
For and on behalf of the Company:
FEC Resources, Inc.
"J.E. Villaluna"
Jose Ernesto Villaluna, Jr.
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 Riaz Sumar at (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
SOURCE FEC Resources, Inc.
FEC Resources, Inc.
CONTACT: Riaz Sumar of FEC Resources, Inc., +1-403-290-1676,
info@FECResources.com
Web site: http://www.fecresources.com/
2009-09-02 13:47 ET - News Release
CALGARY, Alberta, Sept. 2 /PRNewswire-FirstCall/ -- FEC Resources, Inc. announces that all resolutions were passed at the AGM held on 24th August 2009.
The Company wishes to announce the appointment of the following officers of the Company effective immediately.
Jose Ernesto Villaluna, Jr., President and CEO
Mr. Villaluna is a nominee of Philex Mining Corporation and is currently the President & Chief Operating Officer of Philex which holds a 51% majority stake in FEC.
Andrew Mullins, Executive Director
Mr. Mullins is a nominee of Philex Mining Corporation and is also an Executive Director of Forum Energy Plc, FEC's principal asset in which the Company has a direct 28% equity interest.
Renato Migrino, Treasurer and Director
Mr. Migrino is a nominee of Philex Mining Corporation and is currently the Treasurer and CFO of Philex.
Franklin Cu, Director
Mr. Franklin Cu is a nominee of Philex Mining Corporation and is also a Director of Philex Gold, Inc.
Barry Stansfield continues as Chairman and Riaz Sumar as CFO & Corporate Secretary, respectively.
J. E. Villaluna, Jr., President & CEO commented:
"The recent appointments at FEC greatly strengthens our board from an Operational, Financial and Corporate perspective, and I am looking forward to some positive developments with the Company going-forward."
"FEC not only has for a majority shareholder Philex Mining, the largest independent Filipino Mining Company with a market capitalization of over $1Bn, but also holds a significant equity stake in Forum Energy Plc, which in turn holds the potentially world class Sampaguita Gas Discovery though the GSEC101 license area in the South China Sea."
"The GSEC101 license is pending conversion to a Service Contract and once converted can create material value for our shareholders."
Further updates on FEC's holdings including its 40% shareholding in Lascogon Mining Corporation, which holds the MPSA148 Gold concession in Mindanao, Philippines, will be made in due course.
For and on behalf of the Company:
FEC Resources, Inc.
"J.E. Villaluna"
Jose Ernesto Villaluna, Jr.
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 Riaz Sumar at (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
SOURCE FEC Resources, Inc.
FEC Resources, Inc.
CONTACT: Riaz Sumar of FEC Resources, Inc., +1-403-290-1676,
info@FECResources.com
Web site: http://www.fecresources.com/
Antwort auf Beitrag Nr.: 37.909.113 von hbg55 am 03.09.09 11:27:32Nanu, gar kein Dank an Larry?
Antwort auf Beitrag Nr.: 37.909.113 von hbg55 am 03.09.09 11:27:32Ziel von Philex ist es FEP vollständig zu übernehmen. FEC scheint nur Mittel zum Zweck zu sein. Nur wozu wird FEC nach einer Übernahme noch gebraucht und wird hier überhaupt etwas für die Aktionäre abfallen? Bin da mittlerweile skeptisch.
Gruß
Gruß
Antwort auf Beitrag Nr.: 37.910.471 von xxtsc am 03.09.09 13:47:08interessant wird es erst wenn ,wenn das weltklasse gasfeld in angriff genommen wird.
Antwort auf Beitrag Nr.: 37.913.878 von hainholz am 03.09.09 19:41:56Und wann soll dies geschehen?
Antwort auf Beitrag Nr.: 37.976.582 von Grauewoelfe am 14.09.09 18:16:56wenn grünes licht vom DOE kommt
Zumindest sieht der Chart von FEP gut aus, Kursverdopplung seit August, wird Zeit für FEC nachzuziehen.
und noch höher in england
noch höher in england
Jahreshoch bei sehr schwachen Umsätzen bei FEP.Hat wohl nichts zu bedeuten.Dennoch müsste sich solangsam auch bei FEC was tun.
Antwort auf Beitrag Nr.: 38.004.999 von Grauewoelfe am 17.09.09 21:45:44Bei FEP sind nur wenige Aktien im Umlauf, lediglich 10 Prozent, also 3 Mill. sind im Besitz von Kleinanlegern und die halten an ihren Aktien fest, wie man sieht. Wenige k bewegen den Kurs.
Ganz interessant wie ich meine die heutigen Beiträge von Nick763 auf iii zu GSEC101.
http://www.iii.co.uk/investment/detail?code=cotn:FEP.L&displ…
Gruß
Ganz interessant wie ich meine die heutigen Beiträge von Nick763 auf iii zu GSEC101.
http://www.iii.co.uk/investment/detail?code=cotn:FEP.L&displ…
Gruß
Antwort auf Beitrag Nr.: 38.004.999 von Grauewoelfe am 17.09.09 21:45:44 Jahreshoch bei sehr schwachen Umsätzen bei FEP.Hat wohl nichts zu bedeuten.
ja,aber wer kauft denn zu dem preis wenn er sich nicht schwer etwas ausrechnet
ja,aber wer kauft denn zu dem preis wenn er sich nicht schwer etwas ausrechnet
RNS Number : 6647Z Forum Energy Plc 25 September 2009
For immediate release
25 September 2009
FORUM ENERGY plc
('Forum' or the 'Company')
Sale of interest in Forum Cebu Coal Corporation ("FCCC")
The board of Forum (the "Board") is pleased to announce the sale of its interest in FCCC to CR Nichrome, a Filipino mining company for US$1 million in cash.
FCCC holds the COC131 Coal Operating Contract in Cebu, Philippines.
The proceeds of the sale will be used for general working capital purposes.
For further information please contact:
Forum Energy Plc
Walter W. Brown Tel: +44 (0)1932 445 344
Chief Executive Officer
Andrew Mullins, Executive Director
Noble & Company Ltd (Nominated Adviser & Broker)
Brian Stockbridge Tel: +44 (0)20 7763 2200
Or visit the Company's website: www.forumenergy.com
This information is provided by RNS The company news service from the London Stock Exchange
For immediate release
25 September 2009
FORUM ENERGY plc
('Forum' or the 'Company')
Sale of interest in Forum Cebu Coal Corporation ("FCCC")
The board of Forum (the "Board") is pleased to announce the sale of its interest in FCCC to CR Nichrome, a Filipino mining company for US$1 million in cash.
FCCC holds the COC131 Coal Operating Contract in Cebu, Philippines.
The proceeds of the sale will be used for general working capital purposes.
For further information please contact:
Forum Energy Plc
Walter W. Brown Tel: +44 (0)1932 445 344
Chief Executive Officer
Andrew Mullins, Executive Director
Noble & Company Ltd (Nominated Adviser & Broker)
Brian Stockbridge Tel: +44 (0)20 7763 2200
Or visit the Company's website: www.forumenergy.com
This information is provided by RNS The company news service from the London Stock Exchange
Antwort auf Beitrag Nr.: 38.057.957 von xxtsc am 25.09.09 15:42:55CALGARY, Alberta, Sept. 25 /PRNewswire-FirstCall/ -- FEC Resources, Inc. (OTC Bulletin Board: FECOF - News) is pleased to provide an update on MPSA148, Mindanao, Philippines.
MPSA148 is held through Lascogon Mining Corporation 60% by Philex Gold Philippines Inc (a subsidiary company of Philex Mining Corporation, the largest publicly traded mining company in the Philippines and parent company of FEC Resources, Inc.) and 40% by FEC.
The initial work program to delineate the gold occurrences at MPSA148 have concluded with the completion of trenches 8 and 9 and a total of 2,600 additional samples were taken during this phase of the Work Program.
J.E. Villaluna, President & CEO commented:
"We have completed the Work Program at MPSA148. We look forward to finalizing the NI43-101 compliant resource estimate by Independent Resource Estimations Inc of South Africa. We will endeavor to release the results of this study and further information on our resultant plans going-forward with the asset, within Q4"
For and on behalf of the Company:
FEC Resources, Inc.
"J.E. Villaluna"
Jose Ernesto C. Villaluna, Jr.
President & CEO
Calgary, Alberta, 25. September / PRNewswire / - FEC Resources, Inc. (OTC Bulletin Board: FECOF - News) freut sich, ein Update auf MPSA148, Mindanao, Philippinen bieten.
MPSA148 durch Lascogon Mining Corporation 60% Philex Gold Philippines Inc statt (eine Tochtergesellschaft der Philex Mining Corporation, der größte börsennotierte Bergbauunternehmen in den Philippinen und Muttergesellschaft von FEC Resources, Inc.) und 40% von FEC.
Die ersten Arbeiten Programm, um die Goldvorkommen in MPSA148 abzugrenzen sind mit der Fertigstellung der Gräben 8 und 9 sowie insgesamt 2600 zusätzliche Proben abgeschlossen wurden in dieser Phase des Arbeitsprogramms Programm genommen.
J. E. Villaluna, President & CEO kommentiert:
"Wir haben die Arbeit am Programm MPSA148 abgeschlossen. Wir freuen uns auf die Finalisierung der NI43-101 konforme Ressourcenschätzung von Independent Resource Schätzungen Inc Südafrika. Wir werden uns bemühen, die Ergebnisse dieser Studie und weitere Informationen über unsere Pläne gehen daraus resultierende release - weiter mit dem Vermögenswert innerhalb Q4 "
Namens und im Auftrag der Firma:
FEC Resources, Inc.
"J. E. Villaluna"
Jose Ernesto Villaluna C., Jr.
President & CEO
MPSA148 is held through Lascogon Mining Corporation 60% by Philex Gold Philippines Inc (a subsidiary company of Philex Mining Corporation, the largest publicly traded mining company in the Philippines and parent company of FEC Resources, Inc.) and 40% by FEC.
The initial work program to delineate the gold occurrences at MPSA148 have concluded with the completion of trenches 8 and 9 and a total of 2,600 additional samples were taken during this phase of the Work Program.
J.E. Villaluna, President & CEO commented:
"We have completed the Work Program at MPSA148. We look forward to finalizing the NI43-101 compliant resource estimate by Independent Resource Estimations Inc of South Africa. We will endeavor to release the results of this study and further information on our resultant plans going-forward with the asset, within Q4"
For and on behalf of the Company:
FEC Resources, Inc.
"J.E. Villaluna"
Jose Ernesto C. Villaluna, Jr.
President & CEO
Calgary, Alberta, 25. September / PRNewswire / - FEC Resources, Inc. (OTC Bulletin Board: FECOF - News) freut sich, ein Update auf MPSA148, Mindanao, Philippinen bieten.
MPSA148 durch Lascogon Mining Corporation 60% Philex Gold Philippines Inc statt (eine Tochtergesellschaft der Philex Mining Corporation, der größte börsennotierte Bergbauunternehmen in den Philippinen und Muttergesellschaft von FEC Resources, Inc.) und 40% von FEC.
Die ersten Arbeiten Programm, um die Goldvorkommen in MPSA148 abzugrenzen sind mit der Fertigstellung der Gräben 8 und 9 sowie insgesamt 2600 zusätzliche Proben abgeschlossen wurden in dieser Phase des Arbeitsprogramms Programm genommen.
J. E. Villaluna, President & CEO kommentiert:
"Wir haben die Arbeit am Programm MPSA148 abgeschlossen. Wir freuen uns auf die Finalisierung der NI43-101 konforme Ressourcenschätzung von Independent Resource Schätzungen Inc Südafrika. Wir werden uns bemühen, die Ergebnisse dieser Studie und weitere Informationen über unsere Pläne gehen daraus resultierende release - weiter mit dem Vermögenswert innerhalb Q4 "
Namens und im Auftrag der Firma:
FEC Resources, Inc.
"J. E. Villaluna"
Jose Ernesto Villaluna C., Jr.
President & CEO
oho
Galoc consortium preparing for second phase of drilling
Saturday, 10 October 2009 00:00
AddThis Social Bookmark Button
By Euan Paulo C. Añonuevo Reporter
NIDO Petroleum Ltd. may proceed with the second phase of drilling activities at the Galoc oil field.
In a disclosure to the Australian Stock Exchange, Nido said the Galoc consortium has started updating its reserve assessment at the field in offshore Northwest Palawan Basin in preparation for plans to drill additional wells in the petroleum block.
“The Galoc Joint Venture continues to assess further facility and subsurface development options for Phase 2 of the Galoc oil field development,” Nido added.
The oil and gas exploration firm expects to conclude its studies on the field’s reserve potential by early 2010.
This, it added would allow the Galoc consortium to identify the field’s full reserve potential.
“In support of these efforts, it is important for Nido to have a more current and meaningful understanding of the developed reserves, the undeveloped reserves and any other remaining potential in the field,” it said.
Galoc is the country’s first oil development project in over a decade. It was estimated to hold crude reserves of up to 10 million barrels at the time the field’s consortium members committed to undertake the project in 2006.
Since starting production in 2008, Galoc has been churning out oil at a rate of about 11,000 to 15,000 barrels a day.
Galoc also raised oil production to almost 12 percent of demand, which stands at about 338,000 barrels of oil a day. Domestic production stood at only less than 7 percent of total demand before Galoc went online.
The service contract is operated by Galoc Production Co., which has a 59.84-percent stake. Its partners include Nido with a 22.88-percent participation; Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp., 7.79 percent; The Philodrill Corp., 7.22 percent; and Forum Energy Philippines Corp, 2.28 percent.
Galoc consortium preparing for second phase of drilling
Saturday, 10 October 2009 00:00
AddThis Social Bookmark Button
By Euan Paulo C. Añonuevo Reporter
NIDO Petroleum Ltd. may proceed with the second phase of drilling activities at the Galoc oil field.
In a disclosure to the Australian Stock Exchange, Nido said the Galoc consortium has started updating its reserve assessment at the field in offshore Northwest Palawan Basin in preparation for plans to drill additional wells in the petroleum block.
“The Galoc Joint Venture continues to assess further facility and subsurface development options for Phase 2 of the Galoc oil field development,” Nido added.
The oil and gas exploration firm expects to conclude its studies on the field’s reserve potential by early 2010.
This, it added would allow the Galoc consortium to identify the field’s full reserve potential.
“In support of these efforts, it is important for Nido to have a more current and meaningful understanding of the developed reserves, the undeveloped reserves and any other remaining potential in the field,” it said.
Galoc is the country’s first oil development project in over a decade. It was estimated to hold crude reserves of up to 10 million barrels at the time the field’s consortium members committed to undertake the project in 2006.
Since starting production in 2008, Galoc has been churning out oil at a rate of about 11,000 to 15,000 barrels a day.
Galoc also raised oil production to almost 12 percent of demand, which stands at about 338,000 barrels of oil a day. Domestic production stood at only less than 7 percent of total demand before Galoc went online.
The service contract is operated by Galoc Production Co., which has a 59.84-percent stake. Its partners include Nido with a 22.88-percent participation; Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp., 7.79 percent; The Philodrill Corp., 7.22 percent; and Forum Energy Philippines Corp, 2.28 percent.
Govt mulls fate of Sampaguita find
Monday, 12 October 2009 00:00
AddThis Social Bookmark Button
By Euan Paulo C. Añonuevo, Reporter
THE government is looking into the fate of Forum Energy Plc’s offshore exploration block, which was put in the back burner because of a tripartite deal among the Philippines, China and Vietnam, the Department of Energy (DOE) said. Energy Secretary Angelo Reyes said the government already started conducting high-level Cabinet meetings on UK firm’s request to convert its Geophysical Survey Exploration Contract (GSEC 101) into a service contract.
“We are hoping to decide on this matter very soon,” he said.
Reyes said a recent meeting was presided by Executive Secretary Eduardo Ermita and will be followed with continuing dialogue between Forum Energy and the government.
A conversion into a service contract would allow the company to proceed with the work program for the block such as drilling and production activities.
The exploration block covered by GSEC 101 contains the Sampaguita oil and gas discovery in the Reed Bank basin in offshore Palawan.
This is said to contain reserves on a par with the Malampaya field.
In 2006, results from a 248-square kilometer 3D seismic survey conducted by Forum Energy over the license area indicated reserves of about 3.4 trillion cubic feet of natural gas.
The Malampaya, the country’s largest natural gas field to date, has estimated reserves placed at 3.7 trillion cubic feet. The field fuels three power plants with a combined capacity of 2,700 megawatts.
Forum Energy, however, has been unable to push through with its development activities in its license area as the government has been dragging its feet on the conversion of its GSEC license into a service contract.
The conversion into a service contract was a pre-negotiated arrangement under the GSEC between the DOE and Forum Energy that gives the latter the right to pursue this option should it choose to do so.
But DOE officials said the department cannot act on the company’s request because it was a matter of foreign policy.
”We can execute the service contract anytime but at this moment, since this is a very sensitive issue and may have national security implications, we have to study this very carefully,” Undersecretary Ramon Oca said.
The Chinese earlier claimed the area covered by GSEC 101 to be part of a joint marine seismic undertaking (JMSU) in the Spratly’s Islands among state-owned companies of the Philippines, China and Vietnam.
aha,es kommt Bewegung auf!!
Monday, 12 October 2009 00:00
AddThis Social Bookmark Button
By Euan Paulo C. Añonuevo, Reporter
THE government is looking into the fate of Forum Energy Plc’s offshore exploration block, which was put in the back burner because of a tripartite deal among the Philippines, China and Vietnam, the Department of Energy (DOE) said. Energy Secretary Angelo Reyes said the government already started conducting high-level Cabinet meetings on UK firm’s request to convert its Geophysical Survey Exploration Contract (GSEC 101) into a service contract.
“We are hoping to decide on this matter very soon,” he said.
Reyes said a recent meeting was presided by Executive Secretary Eduardo Ermita and will be followed with continuing dialogue between Forum Energy and the government.
A conversion into a service contract would allow the company to proceed with the work program for the block such as drilling and production activities.
The exploration block covered by GSEC 101 contains the Sampaguita oil and gas discovery in the Reed Bank basin in offshore Palawan.
This is said to contain reserves on a par with the Malampaya field.
In 2006, results from a 248-square kilometer 3D seismic survey conducted by Forum Energy over the license area indicated reserves of about 3.4 trillion cubic feet of natural gas.
The Malampaya, the country’s largest natural gas field to date, has estimated reserves placed at 3.7 trillion cubic feet. The field fuels three power plants with a combined capacity of 2,700 megawatts.
Forum Energy, however, has been unable to push through with its development activities in its license area as the government has been dragging its feet on the conversion of its GSEC license into a service contract.
The conversion into a service contract was a pre-negotiated arrangement under the GSEC between the DOE and Forum Energy that gives the latter the right to pursue this option should it choose to do so.
But DOE officials said the department cannot act on the company’s request because it was a matter of foreign policy.
”We can execute the service contract anytime but at this moment, since this is a very sensitive issue and may have national security implications, we have to study this very carefully,” Undersecretary Ramon Oca said.
The Chinese earlier claimed the area covered by GSEC 101 to be part of a joint marine seismic undertaking (JMSU) in the Spratly’s Islands among state-owned companies of the Philippines, China and Vietnam.
aha,es kommt Bewegung auf!!
oha, bewegung kommmt auf
Manila Bulletin
Forum seeks change in business terms
By JAMES A. LOYOLA
October 11, 2009, 2:21pm
Forum Energy PLC of the UK is likely to get the go signal for its request to convert its Geophysical Survey Exploration Contract (GSEC 101) into a service contract.
The conversion will allow Forum Energy to step into the areas covered under the controversial joint marine seismic undertaking (JMSU). Specifically, the UK-based exploration firm could explore the Sampaguita oil and gas discovery in offshore Palawan.
Energy Secretary Angelo Reyes confirmed that a high-level cabinet meeting was held a few weeks ago to discuss the GSEC 101 application of Forum Energy.
"On the matter of GSEC 101, Forum's request for conversion into Service Contract is still being discussed at Cabinet level,” he said adding that the meeting was presided by Executive Secretary Eduardo Ermita.
Forum seeks change in business terms
By JAMES A. LOYOLA
October 11, 2009, 2:21pm
Forum Energy PLC of the UK is likely to get the go signal for its request to convert its Geophysical Survey Exploration Contract (GSEC 101) into a service contract.
The conversion will allow Forum Energy to step into the areas covered under the controversial joint marine seismic undertaking (JMSU). Specifically, the UK-based exploration firm could explore the Sampaguita oil and gas discovery in offshore Palawan.
Energy Secretary Angelo Reyes confirmed that a high-level cabinet meeting was held a few weeks ago to discuss the GSEC 101 application of Forum Energy.
"On the matter of GSEC 101, Forum's request for conversion into Service Contract is still being discussed at Cabinet level,” he said adding that the meeting was presided by Executive Secretary Eduardo Ermita.
Galoc consortium eyeing two new wells, says Energy
PDFPrintE-mail
Wednesday, 14 October 2009 00:00
AddThis Social Bookmark Button
The consortium running the Galoc field in offshore Northwest Palawan basin is mulling over drilling two new wells in the petroleum block.
Energy Undersecretary Ramon Oca said the wells would augment current production from the country’s first oil development project in over a decade.
“[They] might drill two new wells . . . either for additional production or to keep production at current levels,” he said.
The field, which has two production wells, started churning out oil in 2008 and has been producing at a rate of about 11,000 to 15,000 barrels per day. It was initially estimated to contain reserves of about 10 million barrels of oil.
Galoc is operated by Galoc Production Co. and its partners Nido Petroleum Ltd., Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp., The Philodrill Corp., and Forum Energy Philippines Corp.
The consortium has already sold more than two million barrels of oil from the field to customers in Korea, Thailand and the Philippines.
Additional production from the field is expected to raise the country’s indigenous production of oil, which is placed at roughly a tenth of domestic demand of 300,000 barrels a day.
Oca said the two new wells for expansion would depend on the consortium’s current study of the field.
“They are reviewing it [data]. Their decision to drill depends on the results of the data,” he said.
In preparation for their plans to drill additional wells, Nido earlier disclosed that the consortium has already started assessing its additional reserve potential.
The Australian oil and gas exploration firm expects to conclude their studies by early 2010.
Euan Paulo C. Añonuevo
PDFPrintE-mail
Wednesday, 14 October 2009 00:00
AddThis Social Bookmark Button
The consortium running the Galoc field in offshore Northwest Palawan basin is mulling over drilling two new wells in the petroleum block.
Energy Undersecretary Ramon Oca said the wells would augment current production from the country’s first oil development project in over a decade.
“[They] might drill two new wells . . . either for additional production or to keep production at current levels,” he said.
The field, which has two production wells, started churning out oil in 2008 and has been producing at a rate of about 11,000 to 15,000 barrels per day. It was initially estimated to contain reserves of about 10 million barrels of oil.
Galoc is operated by Galoc Production Co. and its partners Nido Petroleum Ltd., Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp., The Philodrill Corp., and Forum Energy Philippines Corp.
The consortium has already sold more than two million barrels of oil from the field to customers in Korea, Thailand and the Philippines.
Additional production from the field is expected to raise the country’s indigenous production of oil, which is placed at roughly a tenth of domestic demand of 300,000 barrels a day.
Oca said the two new wells for expansion would depend on the consortium’s current study of the field.
“They are reviewing it [data]. Their decision to drill depends on the results of the data,” he said.
In preparation for their plans to drill additional wells, Nido earlier disclosed that the consortium has already started assessing its additional reserve potential.
The Australian oil and gas exploration firm expects to conclude their studies by early 2010.
Euan Paulo C. Añonuevo
Galoc oil production improves
PDFPrintE-mail
Thursday, 15 October 2009 00:00
AddThis Social Bookmark Button
Production from the Galoc field continues to hold steady as the country’s first oil development project in over a decade approaches its first year of operations.
In a statement to the Australian Stock Exchange, Otto Energy Ltd. said the Galoc field in offshore Northwest Palawan basin has produced over 2.9 million barrels of oil, generating approximately $110 million in gross revenues.
The company said that since the field recommenced production in August—after bad weather affected its operations at the start of the year—Galoc’s uptime has been approximately 99 percent.
“Improved uptime has been attained following improvements in both mooring and operating practices,
from those initially adopted at field start up,” Otto Energy said.
Current production from the field’s two production wells was placed at 10,600 barrels of oil per day. On the other hand, Otto Energy said that it estimated Galoc’s remaining proved and probable reserves (2P)—or at least half a chance of being produced—was at 8.40 million barrels of crude as of end-June.
The most recent off-take from Galoc was for 335,432 barrels, which was successfully lifted in September and is scheduled to be followed by another cargo lifting mid October, which was sold to a repeat buyer.
An industry source earlier said that among Galoc’s buyers is local oil refiner Petron Corp., which had previously bought crude from Galoc, as well as refiners from Thailand and Korea.
Otto Energy indirectly owns 18.78 percent in the Galoc project via its interests in Galoc Production Co. WLL (GPC), the field’s operator.
GPC’s minority partners in the oil field are Nido Petroleum Ltd., Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp.; The Philodrill Corp., and Forum Energy Philippines Corp.
Euan Paulo C. Añonuevo
PDFPrintE-mail
Thursday, 15 October 2009 00:00
AddThis Social Bookmark Button
Production from the Galoc field continues to hold steady as the country’s first oil development project in over a decade approaches its first year of operations.
In a statement to the Australian Stock Exchange, Otto Energy Ltd. said the Galoc field in offshore Northwest Palawan basin has produced over 2.9 million barrels of oil, generating approximately $110 million in gross revenues.
The company said that since the field recommenced production in August—after bad weather affected its operations at the start of the year—Galoc’s uptime has been approximately 99 percent.
“Improved uptime has been attained following improvements in both mooring and operating practices,
from those initially adopted at field start up,” Otto Energy said.
Current production from the field’s two production wells was placed at 10,600 barrels of oil per day. On the other hand, Otto Energy said that it estimated Galoc’s remaining proved and probable reserves (2P)—or at least half a chance of being produced—was at 8.40 million barrels of crude as of end-June.
The most recent off-take from Galoc was for 335,432 barrels, which was successfully lifted in September and is scheduled to be followed by another cargo lifting mid October, which was sold to a repeat buyer.
An industry source earlier said that among Galoc’s buyers is local oil refiner Petron Corp., which had previously bought crude from Galoc, as well as refiners from Thailand and Korea.
Otto Energy indirectly owns 18.78 percent in the Galoc project via its interests in Galoc Production Co. WLL (GPC), the field’s operator.
GPC’s minority partners in the oil field are Nido Petroleum Ltd., Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp.; The Philodrill Corp., and Forum Energy Philippines Corp.
Euan Paulo C. Añonuevo
Zockeraktien: Mit Wahnsinn zum Erfolg
Von 50 Cent auf zehn Dollar: Hochspekulative Pennystocks sind an der Wall Street plötzlich Gesprächsthema. Vier Zockeraktien mit Comeback-Chance.
von Tim Schäfer, New York
Pennystocks sind in der Regel etwas für Hardcore-Zocker, auch an der Wall Street. Doch seit in den vergangenen Monaten etliche Werte fulminant in die Höhe schossen, sind die Zwergaktien plötzlich im Gespräch – auch bei Investoren, die sonst lieber die Finger davon lassen. So explodierte der Kurs der Drogeriemarktkette Rite Aid seit Februar von 0,20 auf 1,43 Dollar. Grund: Vorstandschefin Mary Sammons gelang es, die erdrückende Schuldenlast zu refinanzieren. Bei dem angeschlagenen Restaurantimperium Ruby Tuesday sorgte eine neue TV-Werbekampagne für einen Kundenansturm und schwarze Zahlen. Seit März schnellte der Titel von 0,95 auf über sieben Dollar.
Dass viele Aktien weniger als einen Dollar kosten, hat natürlich seine Gründe. So können horrende Verluste oder brisante Schuldenstände die Ursache sein. Pennystocks sind daher nichts für schwache Nerven. Im schlimmsten Fall droht Totalverlust. Eine weitere Falle: Trotz der optisch preiswerten Kurse kann die Bewertung immer noch zu hoch sein.
Von 50 Cent auf zehn Dollar: Hochspekulative Pennystocks sind an der Wall Street plötzlich Gesprächsthema. Vier Zockeraktien mit Comeback-Chance.
von Tim Schäfer, New York
Pennystocks sind in der Regel etwas für Hardcore-Zocker, auch an der Wall Street. Doch seit in den vergangenen Monaten etliche Werte fulminant in die Höhe schossen, sind die Zwergaktien plötzlich im Gespräch – auch bei Investoren, die sonst lieber die Finger davon lassen. So explodierte der Kurs der Drogeriemarktkette Rite Aid seit Februar von 0,20 auf 1,43 Dollar. Grund: Vorstandschefin Mary Sammons gelang es, die erdrückende Schuldenlast zu refinanzieren. Bei dem angeschlagenen Restaurantimperium Ruby Tuesday sorgte eine neue TV-Werbekampagne für einen Kundenansturm und schwarze Zahlen. Seit März schnellte der Titel von 0,95 auf über sieben Dollar.
Dass viele Aktien weniger als einen Dollar kosten, hat natürlich seine Gründe. So können horrende Verluste oder brisante Schuldenstände die Ursache sein. Pennystocks sind daher nichts für schwache Nerven. Im schlimmsten Fall droht Totalverlust. Eine weitere Falle: Trotz der optisch preiswerten Kurse kann die Bewertung immer noch zu hoch sein.
Antwort auf Beitrag Nr.: 38.262.457 von hainholz am 27.10.09 16:04:42Hi Hain, meinst Du FEC gehört dazu?
Ask steht jetzt momentan bei 0,015. Hoffe, dass zunächst die angekündigten Goldnews den Kurs von FEC auf die Sprünge helfen.
Gruß
Ask steht jetzt momentan bei 0,015. Hoffe, dass zunächst die angekündigten Goldnews den Kurs von FEC auf die Sprünge helfen.
Gruß
Antwort auf Beitrag Nr.: 38.262.805 von xxtsc am 27.10.09 16:39:18ob nun FEC ,weiß ich nicht
aber vielleicht tut sich ja was
aber vielleicht tut sich ja was
Antwort auf Beitrag Nr.: 38.263.343 von hainholz am 27.10.09 17:28:50Einen Hype dürfen wir hier nicht erwarten, aber ein kleiner Anstieg dürfte drin sein. Bid/Ask z.Zt. 0.007/0,013
Ganz interessante Rechnung von Nick 100:
PostPosted: Thu Oct 22, 2009 11:57 pm Post subject: Reply with quote
Regarding BRN valuation I’ve done a few currency conversions from pounds to pesos. FEP is currently valued at about 1.13 billion pesos.
Most of that value is in the 70% interest it holds for GSEC 101 although it does have a little cash, a 3% stake in oil producing Galoc which brings in revenue and other small assets.
To make it easy for me I've assumed the 70% of GSEC 101 held by FEP is valued at 1 billion pesos for FEP without the Service Contract.
The UK analyst note (available on the FEP website) suggests that FEP should be valued at between 8 billion and 16 billion pesos following a service contract award. The 16 billion peso top end is dependent on further firming up of the resource over and above the currently established 3.4 TCF. That's a 7 billion or 15 billion peso rise in valuation or a 700% to 1500% rise. I think that is optimistic for FEP but I am just roughly following the analyst estimates and factoring them in.
Now to try and translate that valuation upgrade to BRN.
BRN have an effective 4.5% stake in GSEC 101 (15% of 30%).
Going on the analyst figures then that should be worth 360m to 720m pesos added value to BRN market cap post a SC award.
I guess if the market thinks there is oil there and much more gas than the existing seismology discovered (3.4TCF) then BRN will do even better than those figures.
I hold FEP but the other candidate that will do well should be FEC Resources who have a stake in FEP - parent company of both is of course PX.
http://traderspizza.com/viewtopic.php?p=56233&sid=37fd49f3a9…
Ganz interessante Rechnung von Nick 100:
PostPosted: Thu Oct 22, 2009 11:57 pm Post subject: Reply with quote
Regarding BRN valuation I’ve done a few currency conversions from pounds to pesos. FEP is currently valued at about 1.13 billion pesos.
Most of that value is in the 70% interest it holds for GSEC 101 although it does have a little cash, a 3% stake in oil producing Galoc which brings in revenue and other small assets.
To make it easy for me I've assumed the 70% of GSEC 101 held by FEP is valued at 1 billion pesos for FEP without the Service Contract.
The UK analyst note (available on the FEP website) suggests that FEP should be valued at between 8 billion and 16 billion pesos following a service contract award. The 16 billion peso top end is dependent on further firming up of the resource over and above the currently established 3.4 TCF. That's a 7 billion or 15 billion peso rise in valuation or a 700% to 1500% rise. I think that is optimistic for FEP but I am just roughly following the analyst estimates and factoring them in.
Now to try and translate that valuation upgrade to BRN.
BRN have an effective 4.5% stake in GSEC 101 (15% of 30%).
Going on the analyst figures then that should be worth 360m to 720m pesos added value to BRN market cap post a SC award.
I guess if the market thinks there is oil there and much more gas than the existing seismology discovered (3.4TCF) then BRN will do even better than those figures.
I hold FEP but the other candidate that will do well should be FEC Resources who have a stake in FEP - parent company of both is of course PX.
http://traderspizza.com/viewtopic.php?p=56233&sid=37fd49f3a9…
es kommt money ins haus
Philex Mining infuses P1.2 B into oil exploration subsidiary
By JAMES A. LOYOLA
November 11, 2009, 6:16pm
Philex Mining Corporation is investing an additional P1.2 billion in wholly-owned oil exploration subsidiary Philex Petroleum Corporation (PPC) in preparation for possible acquisition of new assets.
In a disclosure to the Philippine Stock Exchange (PSE) Wednesday, Philex Mining president J. Ernesto C. Villaluna, Jr. said the investment was approved by the firm’s board in a meeting held last Tuesday.
The investment will be made by way of a subscription to 1.2 billion new shares of PPC at its par value of P1.00 per share or a total subscription price of P1.2 billion.
The new shares in the company will come from the increase in the authorized capital stock of PPC from P2 billion to P6.8 billion.
“The proceeds of the subscription will enable PPC to acquire oil and petroleum assets,” Villaluna said.
Philex Petroleum has a 33 percent interest in Forum Energy Plc (FEP), a UK-based company listed at the Alternative Investment Market of the London Stock Exchange.
FEP, through its 70 percent-owned subsidiary, Forum (GSEC 101) Limited, holds Geophysical Survey and Exploration Contract (GSEC) No. 101 over the Sampaguita natural gas discovery in the northwest coast of Palawan, Philippines.
FEP has a pending application for the conversion of this GSEC into a service contract, after which further exploration of the Sampaguita property can be commenced.
Philex Petroleum also owns 6.4 percent of Pitkin Petroleum Ltd (Pitkin), a Texas-based junior exploration company in the United States currently producing on a smallscale basis in Louisiana but with properties in offshore Vietnam and Peru.
PPC also acquired 20 percent of PetroEnergy Resources Corporation, a local company listed in the PSE engaged in oil exploration and in providing technical services to companies exploring for oil in the Philippines.
The investment of Philex Petroleum in FEP brought the Philex Group’s total interest to 61 percent taken together with the 28.4 percent interest of FEC Resources, Inc., a 50.7 percent-owned Canadian subsidiary of Philex Mining Corporation.
The investment in Pitkin brought the Philex Group’s total investment to 21 percent taken together with the holdings of Philex Mining.
Aside from PPC and Pitkin, Philex Mining also has investments in Brixton Energy & Mining Corporation (BEMC) which is allowed to extract coal from a 2,000 hectare property in Zamboanga Sibugay for 32 years commencing on May 5, 2008.
Philex also has direct stakes in SC-41, Deepwater South Sulu Sea, for which recoverable reserves estimate prior to drilling was reported to be at a maximum of 150 million barrels; SC-6, Cadlao Block-NW Palawan, which is expected to recover between 1.0-1.5 million barrels of oil; and SC-6A, Octon Block-NW Palawan, which is being linked with the Galoc field.
Philex Mining infuses P1.2 B into oil exploration subsidiary
By JAMES A. LOYOLA
November 11, 2009, 6:16pm
Philex Mining Corporation is investing an additional P1.2 billion in wholly-owned oil exploration subsidiary Philex Petroleum Corporation (PPC) in preparation for possible acquisition of new assets.
In a disclosure to the Philippine Stock Exchange (PSE) Wednesday, Philex Mining president J. Ernesto C. Villaluna, Jr. said the investment was approved by the firm’s board in a meeting held last Tuesday.
The investment will be made by way of a subscription to 1.2 billion new shares of PPC at its par value of P1.00 per share or a total subscription price of P1.2 billion.
The new shares in the company will come from the increase in the authorized capital stock of PPC from P2 billion to P6.8 billion.
“The proceeds of the subscription will enable PPC to acquire oil and petroleum assets,” Villaluna said.
Philex Petroleum has a 33 percent interest in Forum Energy Plc (FEP), a UK-based company listed at the Alternative Investment Market of the London Stock Exchange.
FEP, through its 70 percent-owned subsidiary, Forum (GSEC 101) Limited, holds Geophysical Survey and Exploration Contract (GSEC) No. 101 over the Sampaguita natural gas discovery in the northwest coast of Palawan, Philippines.
FEP has a pending application for the conversion of this GSEC into a service contract, after which further exploration of the Sampaguita property can be commenced.
Philex Petroleum also owns 6.4 percent of Pitkin Petroleum Ltd (Pitkin), a Texas-based junior exploration company in the United States currently producing on a smallscale basis in Louisiana but with properties in offshore Vietnam and Peru.
PPC also acquired 20 percent of PetroEnergy Resources Corporation, a local company listed in the PSE engaged in oil exploration and in providing technical services to companies exploring for oil in the Philippines.
The investment of Philex Petroleum in FEP brought the Philex Group’s total interest to 61 percent taken together with the 28.4 percent interest of FEC Resources, Inc., a 50.7 percent-owned Canadian subsidiary of Philex Mining Corporation.
The investment in Pitkin brought the Philex Group’s total investment to 21 percent taken together with the holdings of Philex Mining.
Aside from PPC and Pitkin, Philex Mining also has investments in Brixton Energy & Mining Corporation (BEMC) which is allowed to extract coal from a 2,000 hectare property in Zamboanga Sibugay for 32 years commencing on May 5, 2008.
Philex also has direct stakes in SC-41, Deepwater South Sulu Sea, for which recoverable reserves estimate prior to drilling was reported to be at a maximum of 150 million barrels; SC-6, Cadlao Block-NW Palawan, which is expected to recover between 1.0-1.5 million barrels of oil; and SC-6A, Octon Block-NW Palawan, which is being linked with the Galoc field.
Philex posts 10% hike in gold output
MANILA, Oct 05, 2009 (Asia Pulse Data Source via COMTEX) --
?Listed Philex Mining Corp. posted a 10 percent hike in production of gold and other metallic minerals from its Padcal copper-gold mine in Benguet in the first nine months of the year.
In a statement, Philex said gold, silver and copper production hit P810 million in the third quarter as compared to the P734 million recorded during the same period last year.
Philex chief executive officer Walter Brown said that, the Padcal mine delivered 673,037 DMT of ore as of September this year, up 34 percent from the 503,060 tons of ore a year ago.
The September 2009 production raises the total output for the first nine months of the year to 6.1 million tons of ore worth about P7.01 billion, the company said.
The ore output in September 2009 resulted in 5,202 DMT of concentrates containing 55.35 grams per DMT of gold, 23.67 percent copper and 55.66 grams per DMT of silver.
This, in turn, led to a gold production of 290,293 grams (9,333 ounces). Philex also produced 1.23 million kilograms (2,714,543 pounds) of copper and 289,703 grams (9,314 ounces) of silver.
Of the P810 million of total production, about P444 million comes from gold, P360 million from copper, and P7 million from silver.
Brown said the price was based on provisional metal prices of US$ 998.50 per ounce gold, US$ 2.78 per pound copper and US$ 16.45 per ounce silver at the exchange rate of P47.59 to US$ 1.00.
The company also noted it shipped gold, silver and copper concentrates worth P6.93 billion for the first nine months of the year.
Philex earlier said its Padcal mine's projected operating life had been extended by another three years, from the previously declared 2014 to 2017, based on the proved reserves of the mine as of June 30, 2009.
The firm said the Padcal mine has reserves of about 74 million tons.
On the other, Philex said it doubled its budgeted net income for 2009 to P3 billion from P1.5 billion, from profits of P2.8 billion earned in 2008, on the back of stronger gold and copper prices.
Copyright (C) 2009 Asia Pulse Data Source. All rights reserved
da könnte auch forum von profitieren
MANILA, Oct 05, 2009 (Asia Pulse Data Source via COMTEX) --
?Listed Philex Mining Corp. posted a 10 percent hike in production of gold and other metallic minerals from its Padcal copper-gold mine in Benguet in the first nine months of the year.
In a statement, Philex said gold, silver and copper production hit P810 million in the third quarter as compared to the P734 million recorded during the same period last year.
Philex chief executive officer Walter Brown said that, the Padcal mine delivered 673,037 DMT of ore as of September this year, up 34 percent from the 503,060 tons of ore a year ago.
The September 2009 production raises the total output for the first nine months of the year to 6.1 million tons of ore worth about P7.01 billion, the company said.
The ore output in September 2009 resulted in 5,202 DMT of concentrates containing 55.35 grams per DMT of gold, 23.67 percent copper and 55.66 grams per DMT of silver.
This, in turn, led to a gold production of 290,293 grams (9,333 ounces). Philex also produced 1.23 million kilograms (2,714,543 pounds) of copper and 289,703 grams (9,314 ounces) of silver.
Of the P810 million of total production, about P444 million comes from gold, P360 million from copper, and P7 million from silver.
Brown said the price was based on provisional metal prices of US$ 998.50 per ounce gold, US$ 2.78 per pound copper and US$ 16.45 per ounce silver at the exchange rate of P47.59 to US$ 1.00.
The company also noted it shipped gold, silver and copper concentrates worth P6.93 billion for the first nine months of the year.
Philex earlier said its Padcal mine's projected operating life had been extended by another three years, from the previously declared 2014 to 2017, based on the proved reserves of the mine as of June 30, 2009.
The firm said the Padcal mine has reserves of about 74 million tons.
On the other, Philex said it doubled its budgeted net income for 2009 to P3 billion from P1.5 billion, from profits of P2.8 billion earned in 2008, on the back of stronger gold and copper prices.
Copyright (C) 2009 Asia Pulse Data Source. All rights reserved
da könnte auch forum von profitieren
Antwort auf Beitrag Nr.: 38.382.498 von hainholz am 13.11.09 15:03:47Du könntest Recht haben. Das Handelsvolumen ist nahezu eingetrocknet. US Ask gut gefüllt zwischen 0,012 und 0,015, ich denke, dass der Kurs sich bald in dieser Bandweite bewegen wird.
RNS Number : 1926D
Forum Energy Plc
27 November 2009
27 November 2009
Forum Energy plc
(the "Company")
Placing of approximately £1.5 million
The board of Forum Energy plc is pleased to announce that the Company has raised approximately £1.5 million (before expenses) through a placing of new ordinary shares at a price of 50p per share (the "Placing").
The net proceeds of the Placing will primarily be applied to satisfy the minimum cash requirements set by the Philippine Department of Energy for the first sub-phase commitments in respect of the GSEC101 licence.
The Placing
The Company has raised £1,504,206 (before expenses) through a placing of 3,008,412 new ordinary shares of 10p each ("New Ordinary Shares") at a price of 50p per share ("Placing Price"). All of the shares have been placed with the Company's two largest shareholders, Philex Petroleum Corporation ("PPC") (a subsidiary of Philex Mining Corporation ("PMC")) and Wellington Asset Management Ltd ("Wellington").
The Placing is conditional, inter alia, on admission ("Admission") of the New Ordinary Shares to trading on AIM, a market operated by London Stock Exchange plc ("AIM") (which is the market on which the Company's existing issued ordinary shares are admitted to trading) occurring by no later than 30 November 2009. The Placing Price represents a 25.0% premium to the closing mid-price of an existing issued ordinary share of 40.0p on 26 November 2009, the latest practicable date prior to the posting of this announcement.
The New Ordinary Shares will rank pari passu with the existing ordinary shares of the Company.
Application has been made and admission to trading on AIM of the New Ordinary Shares is expected to occur on 30 November 2009.
Following the Placing, there will be 33,092,533 ordinary shares in issue, of which 20,711,445 (representing approximately 62.59 per cent. of the issued share capital) will be controlled by PMC (through the holdings of PPC and FEC Resources, Inc.) and 8,585,256 by Wellington (representing approximately 25.94 per cent. of the issued share capital).
Related Party Transaction
As PPC and Wellington are substantial shareholders in the Company, they are each considered to be a "related party" of the Company for the purposes of the AIM Rules for Companies. Accordingly, the placing of shares with PPC and Wellington is classified as a related party transaction. The independent Directors of the Company, having consulted with Noble & Company Limited, as nominated adviser to the Company, consider the Placing to be fair and reasonable insofar as the Shareholders are concerned. In providing advice to the independent Directors, Noble & Company Limited has taken into account the independent Directors' commercial assessments.
GSEC101 update
Whilst the Board of Forum remains optimistic that the Company will be granted the Service Contract over GSEC101 it may or may not be received during H2 2009 as previously stated within the interim result announcement released on 22 July 2009. The Board will make further announcements as and when necessary in order to keep the market informed.
For further information please contact:
Forum Energy plc Tel: +44 (0)1932 445 344
Walter W. Brown
Chief Executive Officer
Andrew Mullins
Executive Director
Forum Energy Plc
27 November 2009
27 November 2009
Forum Energy plc
(the "Company")
Placing of approximately £1.5 million
The board of Forum Energy plc is pleased to announce that the Company has raised approximately £1.5 million (before expenses) through a placing of new ordinary shares at a price of 50p per share (the "Placing").
The net proceeds of the Placing will primarily be applied to satisfy the minimum cash requirements set by the Philippine Department of Energy for the first sub-phase commitments in respect of the GSEC101 licence.
The Placing
The Company has raised £1,504,206 (before expenses) through a placing of 3,008,412 new ordinary shares of 10p each ("New Ordinary Shares") at a price of 50p per share ("Placing Price"). All of the shares have been placed with the Company's two largest shareholders, Philex Petroleum Corporation ("PPC") (a subsidiary of Philex Mining Corporation ("PMC")) and Wellington Asset Management Ltd ("Wellington").
The Placing is conditional, inter alia, on admission ("Admission") of the New Ordinary Shares to trading on AIM, a market operated by London Stock Exchange plc ("AIM") (which is the market on which the Company's existing issued ordinary shares are admitted to trading) occurring by no later than 30 November 2009. The Placing Price represents a 25.0% premium to the closing mid-price of an existing issued ordinary share of 40.0p on 26 November 2009, the latest practicable date prior to the posting of this announcement.
The New Ordinary Shares will rank pari passu with the existing ordinary shares of the Company.
Application has been made and admission to trading on AIM of the New Ordinary Shares is expected to occur on 30 November 2009.
Following the Placing, there will be 33,092,533 ordinary shares in issue, of which 20,711,445 (representing approximately 62.59 per cent. of the issued share capital) will be controlled by PMC (through the holdings of PPC and FEC Resources, Inc.) and 8,585,256 by Wellington (representing approximately 25.94 per cent. of the issued share capital).
Related Party Transaction
As PPC and Wellington are substantial shareholders in the Company, they are each considered to be a "related party" of the Company for the purposes of the AIM Rules for Companies. Accordingly, the placing of shares with PPC and Wellington is classified as a related party transaction. The independent Directors of the Company, having consulted with Noble & Company Limited, as nominated adviser to the Company, consider the Placing to be fair and reasonable insofar as the Shareholders are concerned. In providing advice to the independent Directors, Noble & Company Limited has taken into account the independent Directors' commercial assessments.
GSEC101 update
Whilst the Board of Forum remains optimistic that the Company will be granted the Service Contract over GSEC101 it may or may not be received during H2 2009 as previously stated within the interim result announcement released on 22 July 2009. The Board will make further announcements as and when necessary in order to keep the market informed.
For further information please contact:
Forum Energy plc Tel: +44 (0)1932 445 344
Walter W. Brown
Chief Executive Officer
Andrew Mullins
Executive Director
First Pacific cements control over Philippine mining giant
(www.chinamining.org)
Updated: 2009-12-04 09:16
Hong Kong-based investment firm First Pacific Co. Ltd. on Thursday said it has become the largest stockholder in Philex Mining Corp. after consolidating its stake in Philex, the country's No. 1 mining company, to 40.7 percent.
First Pacific managing director Manuel V. Pangilinan announced the purchase of 452 million additional shares in Philex for about 9.5 billion pesos (204 million U.S. dollars), a 9.2 percent block held by former Trade Minister Roberto V. Ongpin.
One share was traded for 21 pesos (0.45 U.S. dollar ), a record- high for Philex, and it will be paid for cash and credit combined.
With this deal, First Pacific will increase its representation in the 10-member Philex board from three to five, while the state- owned Social Security System (SSS) will retain three. Two are independent directors.
The SSS remains a significant stockholder with a 22 percent block in Philex, which has a market capitalization of about 93 billion pesos (2 billion U.S. dollars).
(www.chinamining.org)
Updated: 2009-12-04 09:16
Hong Kong-based investment firm First Pacific Co. Ltd. on Thursday said it has become the largest stockholder in Philex Mining Corp. after consolidating its stake in Philex, the country's No. 1 mining company, to 40.7 percent.
First Pacific managing director Manuel V. Pangilinan announced the purchase of 452 million additional shares in Philex for about 9.5 billion pesos (204 million U.S. dollars), a 9.2 percent block held by former Trade Minister Roberto V. Ongpin.
One share was traded for 21 pesos (0.45 U.S. dollar ), a record- high for Philex, and it will be paid for cash and credit combined.
With this deal, First Pacific will increase its representation in the 10-member Philex board from three to five, while the state- owned Social Security System (SSS) will retain three. Two are independent directors.
The SSS remains a significant stockholder with a 22 percent block in Philex, which has a market capitalization of about 93 billion pesos (2 billion U.S. dollars).
First Pacific men take over Philex board
December 8, 2009, 4:23pm
Representatives of First Pacific Company Ltd., led by managing director Manuel Pangilinan, have taken more board seats in Philex Mining Corporation after raising its stake to 40 percent of the mining firm.
In a disclosure to the Philippine Stock Exchange (PSE) Tuesday, Philex said vice chairman Roberto Ongpin, director and chief executive officer Walter Brown, director Eric Recto and independent director Reynaldo David have resigned together with assistant corporate secretary Rodolfo Ponferrada.
Pangilinan was elected as chairman and chief executive offer, together with Edward Tortorici, Albert del Rosario, and Marilyn Victorio-Aquino as directors. Recto was however, re-elected as independent director together with Oscar Hilado.
Totorici is the executive director of First Pacific, former Ambassador Del Rosario is director in various companies including FPC, Victorio-Aquino is a partner of Sycip Salazar Hernandez and Gatmaitan Law Offices, Hilado is the chairman of Philippine Investment Management Inc., while Recto is president of Petron Corporation.
Last week, First Pacific acquired another 9.24 percent of Philex for P9.49 billion from shareholders Ongpin, Brown and Development Bank of the Philippines through Two Rivers Pacific Holdings Corporation.
December 8, 2009, 4:23pm
Representatives of First Pacific Company Ltd., led by managing director Manuel Pangilinan, have taken more board seats in Philex Mining Corporation after raising its stake to 40 percent of the mining firm.
In a disclosure to the Philippine Stock Exchange (PSE) Tuesday, Philex said vice chairman Roberto Ongpin, director and chief executive officer Walter Brown, director Eric Recto and independent director Reynaldo David have resigned together with assistant corporate secretary Rodolfo Ponferrada.
Pangilinan was elected as chairman and chief executive offer, together with Edward Tortorici, Albert del Rosario, and Marilyn Victorio-Aquino as directors. Recto was however, re-elected as independent director together with Oscar Hilado.
Totorici is the executive director of First Pacific, former Ambassador Del Rosario is director in various companies including FPC, Victorio-Aquino is a partner of Sycip Salazar Hernandez and Gatmaitan Law Offices, Hilado is the chairman of Philippine Investment Management Inc., while Recto is president of Petron Corporation.
Last week, First Pacific acquired another 9.24 percent of Philex for P9.49 billion from shareholders Ongpin, Brown and Development Bank of the Philippines through Two Rivers Pacific Holdings Corporation.
Antwort auf Beitrag Nr.: 38.533.024 von hainholz am 09.12.09 07:53:31die werden wohl die Öl und Gasabteilung auf Schwung bringen und somit auch GSEC 101
Price Change % Change Volume
0.008 +0.0025 +60.00% 319,830
unter hohen Volumen nach oben
0.008 +0.0025 +60.00% 319,830
unter hohen Volumen nach oben
in London ist ein neuer Fond eingestiegen
sie haben die anteile von wellington übernommen
eigentlich bekannt die fa.
Ashmore assetmanagement
RNS Number : 2716F Forum Energy Plc 08 January 2010
8 January 2010
Forum Energy Plc ("Forum Energy" or the "Company")
Notifiable Interests
The board of Forum Energy (the "Board") received notification on 5 January 2010 that, on 4 January 2010, Wellington Asset Management Limited ("Wellington") divested 8,646,757 shares in the Company, representing 26.13% of the issued share capital. Wellington no longer holds a notifiable interest in the Company.
The Board also received notification on 5 January 2010 that, on 4 January 2010, Mario A Oreta and Ma. Luz A Oreta acquired, through Tidemark Holdings Limited, 8,646,757 shares in the Company, representing 26.13% of the issued share capital. Tidemark Holdings Limited now holds 26.13% of the issued share capital in total.
sie haben die anteile von wellington übernommen
eigentlich bekannt die fa.
Ashmore assetmanagement
RNS Number : 2716F Forum Energy Plc 08 January 2010
8 January 2010
Forum Energy Plc ("Forum Energy" or the "Company")
Notifiable Interests
The board of Forum Energy (the "Board") received notification on 5 January 2010 that, on 4 January 2010, Wellington Asset Management Limited ("Wellington") divested 8,646,757 shares in the Company, representing 26.13% of the issued share capital. Wellington no longer holds a notifiable interest in the Company.
The Board also received notification on 5 January 2010 that, on 4 January 2010, Mario A Oreta and Ma. Luz A Oreta acquired, through Tidemark Holdings Limited, 8,646,757 shares in the Company, representing 26.13% of the issued share capital. Tidemark Holdings Limited now holds 26.13% of the issued share capital in total.
News!
FEC Completes US$2.5 Million Equity Placement
CALGARY, Alberta, Jan. 12 /PRNewswire-FirstCall/ --
FEC Resources Inc. ("FEC" or the "Company") (OTC:FECOF) (BULLETIN BOARD: FECOF) is delighted to announce it has today completed a US$2.5m equity placement of 5,000,000 shares at a price of US$0.50 (fifty cents) per share representing a significant premium to the market price of FEC. The stock has been placed to Philex Mining Corporation ("Philex"), the Company's largest shareholder
Philex has advised the Company that the price it has paid does not reflect Philex's appreciation of the current value of FEC as Philex does not have sufficient information to reasonably determine what the true value of FEC is. Philex said that the financing was done to provide financial support to the Company at a minimum dilution to all other existing shareholders
The Company is also not aware of any reason for the large premium to the market price
The proceeds of the offer will be used as may be appropriate for a mixture of purposes, such as for the Company's 2010 budget and for other projects that may come up. The repayment of the Company's loan with Philex will also be deferred for 12 months from the date of the offer
Barry Stansfield, Chairman quoted:
"We are delighted to have been able to significantly strengthen our balance sheet on such commercially acceptable terms. We anticipate this placement will provide the security required by the Company to go forward and ensure capital commitments can be met enabling the Corporation to deliver value to our long supporting shareholders. We look forward to many exciting developments in 2010"
For and on behalf of the Company:
FEC Resources Inc
"Barry Stansfield"
Barry Stansfield Chairman
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
Contact: Riaz Sumar, +1-403-290-1676, , for FEC Resources Inc.
DATASOURCE: FEC Resources Inc
CONTACT: Riaz Sumar, +1-403-290-1676, , for FEC
Resources Inc
Web Site: http://www.fecresources.com/
FEC Completes US$2.5 Million Equity Placement
CALGARY, Alberta, Jan. 12 /PRNewswire-FirstCall/ --
FEC Resources Inc. ("FEC" or the "Company") (OTC:FECOF) (BULLETIN BOARD: FECOF) is delighted to announce it has today completed a US$2.5m equity placement of 5,000,000 shares at a price of US$0.50 (fifty cents) per share representing a significant premium to the market price of FEC. The stock has been placed to Philex Mining Corporation ("Philex"), the Company's largest shareholder
Philex has advised the Company that the price it has paid does not reflect Philex's appreciation of the current value of FEC as Philex does not have sufficient information to reasonably determine what the true value of FEC is. Philex said that the financing was done to provide financial support to the Company at a minimum dilution to all other existing shareholders
The Company is also not aware of any reason for the large premium to the market price
The proceeds of the offer will be used as may be appropriate for a mixture of purposes, such as for the Company's 2010 budget and for other projects that may come up. The repayment of the Company's loan with Philex will also be deferred for 12 months from the date of the offer
Barry Stansfield, Chairman quoted:
"We are delighted to have been able to significantly strengthen our balance sheet on such commercially acceptable terms. We anticipate this placement will provide the security required by the Company to go forward and ensure capital commitments can be met enabling the Corporation to deliver value to our long supporting shareholders. We look forward to many exciting developments in 2010"
For and on behalf of the Company:
FEC Resources Inc
"Barry Stansfield"
Barry Stansfield Chairman
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
Contact: Riaz Sumar, +1-403-290-1676, , for FEC Resources Inc.
DATASOURCE: FEC Resources Inc
CONTACT: Riaz Sumar, +1-403-290-1676, , for FEC
Resources Inc
Web Site: http://www.fecresources.com/
Antwort auf Beitrag Nr.: 38.721.800 von xxtsc am 12.01.10 21:22:12The Company is also not aware of any reason for the large premium to the market price.
Antwort auf Beitrag Nr.: 38.721.892 von xxtsc am 12.01.10 21:33:38We look forward to many exciting developments in 2010"
Antwort auf Beitrag Nr.: 38.723.158 von hainholz am 13.01.10 04:23:15
jetzt kommt ja richtig gut Bewegung auf
jetzt kommt ja richtig gut Bewegung auf
Antwort auf Beitrag Nr.: 38.730.954 von hainholz am 13.01.10 21:01:19Die 0,015 haben leider nicht gehalten. Hi Hain, kannst Du einschätzen, was die Beteiligung an FEP mal wert sein könnte?
Gruß
Gruß
Forum Energy obtains funds for GSEC 101
By Amy R. Remo
Philippine Daily Inquirer
Filed Under: Energy, Oil & Gas - Upstream activities
FORUM ENERGY PLC has raised some £1.5 million, which it plans to use for its Geophysical Survey Exploration Contract (GSEC) 101, covering areas in offshore Palawan.
Forum, a joint venture between Canada’s Forum Energy Corp. and the United Kingdom’s Sterling Energy Plc, said the amount would be used to meet the minimum cash requirement set by the Department of Energy for the first sub-phase commitments under the GSEC 101 license.
The fundraising was made through the placement of new ordinary shares at a price of 50 pence a share, the company said.
All of the shares have been placed with the company’s two largest shareholders—Philex Petroleum Corp. (a subsidiary of Philex Mining Corp.) and Wellington Asset Management Ltd.
Forum Energy said it was still awaiting the approval of the DOE for the conversion of its GSEC 101 license into a full service contract.
In the meantime, Energy Secretary Angelo T. Reyes said the DOE has yet to finish the processing of all the documents related to the granting of the service contract.
A Cabinet meeting was held earlier to determine whether the government should grant Forum Energy a service contract.
Since May 2007, Forum Energy has been negotiating for the conversion of its GSEC license, but government officials earlier said that the fate of the application had been affected by the controversial joint marine seismic undertaking (JMSU).
The granting of a service contract to Forum Energy will allow it to explore areas that were covered by the JMSU, such as the Sampaguita oil and gas field in Palawan. This discovery alone was estimated to contain 3.4 trillion cubic feet of gas.
Covering 142,886-sq. km., the JMSU is a tripartite accord among state-owned Philippine National Oil Co., China National Offshore Oil Co. and Vietnam Oil and Gas Corp.
By Amy R. Remo
Philippine Daily Inquirer
Filed Under: Energy, Oil & Gas - Upstream activities
FORUM ENERGY PLC has raised some £1.5 million, which it plans to use for its Geophysical Survey Exploration Contract (GSEC) 101, covering areas in offshore Palawan.
Forum, a joint venture between Canada’s Forum Energy Corp. and the United Kingdom’s Sterling Energy Plc, said the amount would be used to meet the minimum cash requirement set by the Department of Energy for the first sub-phase commitments under the GSEC 101 license.
The fundraising was made through the placement of new ordinary shares at a price of 50 pence a share, the company said.
All of the shares have been placed with the company’s two largest shareholders—Philex Petroleum Corp. (a subsidiary of Philex Mining Corp.) and Wellington Asset Management Ltd.
Forum Energy said it was still awaiting the approval of the DOE for the conversion of its GSEC 101 license into a full service contract.
In the meantime, Energy Secretary Angelo T. Reyes said the DOE has yet to finish the processing of all the documents related to the granting of the service contract.
A Cabinet meeting was held earlier to determine whether the government should grant Forum Energy a service contract.
Since May 2007, Forum Energy has been negotiating for the conversion of its GSEC license, but government officials earlier said that the fate of the application had been affected by the controversial joint marine seismic undertaking (JMSU).
The granting of a service contract to Forum Energy will allow it to explore areas that were covered by the JMSU, such as the Sampaguita oil and gas field in Palawan. This discovery alone was estimated to contain 3.4 trillion cubic feet of gas.
Covering 142,886-sq. km., the JMSU is a tripartite accord among state-owned Philippine National Oil Co., China National Offshore Oil Co. and Vietnam Oil and Gas Corp.
RNS Number : 1617H Forum Energy Plc 15 February 2010
15 February 2010
Forum Energy Plc
("Forum Energy" or the "Company")
Award of Service Contract
The board of Forum Energy, the UK based gas & oil E&P company with a portfolio of projects in the Philippines, is delighted to announce that the Government of the Philippines, acting through the Philippines Department of Energy, has today awarded the Service Contract relating to the GSEC 101 licence to Forum (GSEC 101) Limited, a wholly owned subsidiary of the Company.
The GSEC101 licence in which the Company has a 70% interest, is the Company's principal asset, and is situated offshore west of Palawan Island in the South China Sea. In 2006, results from a 248 square kilometre 3D seismic survey over the licence area confirmed a minimum of 3.4 TCF proven gas in place with significant upside potential.
Full details relating to the contract work programme will be announced shortly.
Walter Brown, Chief Executive Officer, commented:
"We are very pleased to have finally secured the Service Contract over the GSEC 101 area in what is a company-changing development for Forum Energy. We intend to push forward with the appraisal of this gas field to commerciality and ultimately to the delivery of material value to our shareholders. Given the potential size of the resource and proximity to the Asian markets, we believe this project is an ideal candidate for an LNG facility."
The Company announces that Noble & Company Limited, the Company's Nominated Adviser and Broker, has changed its name to Execution Noble & Company Limited with immediate effect.
For further information please contact: Forum Energy Plc
Andrew Mullins, Executive Director Tel: +44 (0) 1932 445 344
Execution Noble & Company Limited
Harry Stockdale, John Llewellyn-Lloyd Tel: +44 (0) 20 7456 9191
Pelham Bell Pottinger
Nick Lambert / Henry Lerwill Tel: +44 (0) 20 7337 1500
Or visit the Company's website:
www.forumenergyplc.com <http://www.forumenergyplc.com>
This information is provided by RNS The company news service from the London Stock Exchange
15 February 2010
Forum Energy Plc
("Forum Energy" or the "Company")
Award of Service Contract
The board of Forum Energy, the UK based gas & oil E&P company with a portfolio of projects in the Philippines, is delighted to announce that the Government of the Philippines, acting through the Philippines Department of Energy, has today awarded the Service Contract relating to the GSEC 101 licence to Forum (GSEC 101) Limited, a wholly owned subsidiary of the Company.
The GSEC101 licence in which the Company has a 70% interest, is the Company's principal asset, and is situated offshore west of Palawan Island in the South China Sea. In 2006, results from a 248 square kilometre 3D seismic survey over the licence area confirmed a minimum of 3.4 TCF proven gas in place with significant upside potential.
Full details relating to the contract work programme will be announced shortly.
Walter Brown, Chief Executive Officer, commented:
"We are very pleased to have finally secured the Service Contract over the GSEC 101 area in what is a company-changing development for Forum Energy. We intend to push forward with the appraisal of this gas field to commerciality and ultimately to the delivery of material value to our shareholders. Given the potential size of the resource and proximity to the Asian markets, we believe this project is an ideal candidate for an LNG facility."
The Company announces that Noble & Company Limited, the Company's Nominated Adviser and Broker, has changed its name to Execution Noble & Company Limited with immediate effect.
For further information please contact: Forum Energy Plc
Andrew Mullins, Executive Director Tel: +44 (0) 1932 445 344
Execution Noble & Company Limited
Harry Stockdale, John Llewellyn-Lloyd Tel: +44 (0) 20 7456 9191
Pelham Bell Pottinger
Nick Lambert / Henry Lerwill Tel: +44 (0) 20 7337 1500
Or visit the Company's website:
www.forumenergyplc.com <http://www.forumenergyplc.com>
This information is provided by RNS The company news service from the London Stock Exchange
Forum legt in London um einiges zu!!! Heute US Feiertag, morgen dürfte auch FEC profitieren!
http://www.lse.co.uk/ShareTrades.asp?shareprice=FEP&share=fo…
Gruß
http://www.lse.co.uk/ShareTrades.asp?shareprice=FEP&share=fo…
Gruß
Antwort auf Beitrag Nr.: 38.946.040 von xxtsc am 15.02.10 16:06:48Super! FEP hat in London um 51,96 % zugelegt. Weitere News sind versprochen. Das sieht gut aus, auch für FEC!
Gruß
Gruß
Antwort auf Beitrag Nr.: 38.946.717 von xxtsc am 15.02.10 17:53:49jau
endlich gehts los
mein gott ,wie lange haben wir darauf gewartet
+ 56 % in London
und hier wacht auf
endlich gehts los
mein gott ,wie lange haben wir darauf gewartet
+ 56 % in London
und hier wacht auf
Antwort auf Beitrag Nr.: 38.946.840 von hainholz am 15.02.10 18:14:01Hi Hain, ganz interessante Diskussion über die mögliche Bewertung von FEP:
http://www.advfn.com/lse/SharePrice.asp?shareprice=FEP
Wenn FEP wirklich zur kommerziellen Produktion gelangt, eröffnet sich auch für FEC ein unglaubliches Potential. Bin gespannt auf morgen!
Gruß
http://www.advfn.com/lse/SharePrice.asp?shareprice=FEP
Wenn FEP wirklich zur kommerziellen Produktion gelangt, eröffnet sich auch für FEC ein unglaubliches Potential. Bin gespannt auf morgen!
Gruß
Antwort auf Beitrag Nr.: 38.946.897 von xxtsc am 15.02.10 18:21:44na klar bei dem Weltklassegasfeld
sind doch nicht umsonst in letzter Zeit einige Ölleute ins
Philexboard gekommen.
sind doch nicht umsonst in letzter Zeit einige Ölleute ins
Philexboard gekommen.
Antwort auf Beitrag Nr.: 38.946.897 von xxtsc am 15.02.10 18:21:44ja,da liegen die mit ihrer meinung wohl vollkommen richtig
potenzial von 3,4 bis 20 tcf
potenzial von 3,4 bis 20 tcf
Antwort auf Beitrag Nr.: 38.947.144 von hainholz am 15.02.10 19:11:35schaut ja heute wieder gut aus
http://de.advfn.com/p.php?pid=staticchart&s=LSE%3AFEP&p=0&t=…
http://de.advfn.com/p.php?pid=staticchart&s=LSE%3AFEP&p=0&t=…
Antwort auf Beitrag Nr.: 38.948.944 von schneebe am 16.02.10 10:10:22
hier kann man kein gled machen. zu geriges volumen. kommt man nie wieder raus. finger weg. einfach nur ein blender
nun auch drüben veröffentlicht
Award of Service Contract for Forum Energy Plc
Award of Service Contract for Forum Energy Plc
Feb. 16, 2010 (PR Newswire) -- Award of Service Contract for Forum Energy Plc
CALGARY, Alberta -- FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FEC") wishes to advise shareholders that it has noted the following announcement made yesterday by Forum Energy Plc (FEP) in which FEC holds a 25.84% equity interest.
Forum Energy Plc
("Forum Energy" or the "Company")
Award of Service Contract
The board of Forum Energy, the UK based gas & oil E&P company with a portfolio of projects in the Philippines, is delighted to announce that the Government of the Philippines, acting through the Philippines Department of Energy, has today awarded the Service Contract relating to the GSEC 101 licence to Forum (GSEC 101) Limited, a wholly owned subsidiary of the Company.
The GSEC101 licence in which the Company has a 70% interest, is the Company's principal asset, and is situated offshore west of Palawan Island in the South China Sea. In 2006, results from a 248 square kilometre 3D seismic survey over the licence area confirmed a minimum of 3.4 TCF proven gas in place with significant upside potential.
Full details relating to the contract work programme will be announced shortly.
Walter Brown, Chief Executive Officer, commented:
"We are very pleased to have finally secured the Service Contract over the GSEC 101 area in what is a company-changing development for Forum Energy. We intend to push forward with the appraisal of this gas field to commerciality and ultimately to the delivery of material value to our shareholders. Given the potential size of the resource and proximity to the Asian markets, we believe this project is an ideal candidate for an LNG facility."
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
On behalf of the Board of,
FEC Resources, Inc.
Barry Stansfield
Chairman
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 Riaz Sumar at (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
FEC HEADQUARTERS
Calgary, Alberta
E-mail: info@FECResources.com
Website: http://www.FECResources.com
Award of Service Contract for Forum Energy Plc
Award of Service Contract for Forum Energy Plc
Feb. 16, 2010 (PR Newswire) -- Award of Service Contract for Forum Energy Plc
CALGARY, Alberta -- FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FEC") wishes to advise shareholders that it has noted the following announcement made yesterday by Forum Energy Plc (FEP) in which FEC holds a 25.84% equity interest.
Forum Energy Plc
("Forum Energy" or the "Company")
Award of Service Contract
The board of Forum Energy, the UK based gas & oil E&P company with a portfolio of projects in the Philippines, is delighted to announce that the Government of the Philippines, acting through the Philippines Department of Energy, has today awarded the Service Contract relating to the GSEC 101 licence to Forum (GSEC 101) Limited, a wholly owned subsidiary of the Company.
The GSEC101 licence in which the Company has a 70% interest, is the Company's principal asset, and is situated offshore west of Palawan Island in the South China Sea. In 2006, results from a 248 square kilometre 3D seismic survey over the licence area confirmed a minimum of 3.4 TCF proven gas in place with significant upside potential.
Full details relating to the contract work programme will be announced shortly.
Walter Brown, Chief Executive Officer, commented:
"We are very pleased to have finally secured the Service Contract over the GSEC 101 area in what is a company-changing development for Forum Energy. We intend to push forward with the appraisal of this gas field to commerciality and ultimately to the delivery of material value to our shareholders. Given the potential size of the resource and proximity to the Asian markets, we believe this project is an ideal candidate for an LNG facility."
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
On behalf of the Board of,
FEC Resources, Inc.
Barry Stansfield
Chairman
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 Riaz Sumar at (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
FEC HEADQUARTERS
Calgary, Alberta
E-mail: info@FECResources.com
Website: http://www.FECResources.com
FEC rockt heute: $ 0.0235
Manilla Times
Oil firm cleared for drilling
Thursday, 18 February 2010 00:00
BY EUAN PAULO C. AÑONUEVO Reporter
AFTER more than two years, the Philippines finally gave British firm Forum Energy Plc the go-ahead to start drilling operations in offshore Palawan, an area contested by China and Vietnam.
”We are very pleased to have finally secured the service contract over the GSEC 101 area in what is a company-changing development for Forum Energy. We intend to push forward with the appraisal of this gas field to commerciality and ultimately to the delivery of material value to our shareholders,” Walter Brown, Forum Energy Philippines chief executive officer said.
The exploration block covered by Geophysical Survey Exploration Contract 101 contains the Sampaguita oil and gas discovery in the Reed Bank basin in offshore Palawan, and is said to contain reserves on a par with the Malampaya field.
In 2006, results from a 248-square-kilometer 3D seismic survey conducted by Forum Energy over the license area indicated reserves of about 3.4 trillion cubic feet of natural gas.
The Malampaya, the Philippines’ largest natural gas field to date, has estimated reserves of 3.7-trillion cubic feet. It fuels three power plants with a combined capacity of 2,700 megawatts.
Forum Energy had been trying to convert GSEC 101 into a full service contract, but the government had been sitting on the proposal for at least two years.
The conversion into a service contract was a pre-negotiated arrangement between the Department of Energy and Forum Energy, giving the British firm the right to pursue this option should it choose to do so.
But Energy department officials said that the department could not act on the company’s request because it was a matter of foreign policy.
Beijing earlier claimed the area covered by GSEC 101 to be part of a joint marine seismic undertaking in the Spratly’s Islands among state-owned companies of the Philippines, China and Vietnam.
The tripartite agreement, however, expired in July 2008, with the three parties yet to renew the accord.
A high-level cabinet meeting held a few weeks ago discussed Forum Energy’s proposed conversion of the GSEC into a full service contract.
Forum Energy holds a 70-percent stake in GSEC 101, which is the company’s principal asset, while Monte Oro Resources & Energy Inc., owns the remaining 30 percent.
Forum Energy was established in April 2005 through the consolidation of the assets of FEC Resources Inc. of Canada and Sterling Energy Plc of the UK into one corporate entity. Monte Oro, on the other hand, is the mother company of Monte Oro Grid Resources Corp., which in turn owns a 30-percent stake in the National Grid Corp. of the Philippines, the country’s power grid operator.
Oil firm cleared for drilling
Thursday, 18 February 2010 00:00
BY EUAN PAULO C. AÑONUEVO Reporter
AFTER more than two years, the Philippines finally gave British firm Forum Energy Plc the go-ahead to start drilling operations in offshore Palawan, an area contested by China and Vietnam.
”We are very pleased to have finally secured the service contract over the GSEC 101 area in what is a company-changing development for Forum Energy. We intend to push forward with the appraisal of this gas field to commerciality and ultimately to the delivery of material value to our shareholders,” Walter Brown, Forum Energy Philippines chief executive officer said.
The exploration block covered by Geophysical Survey Exploration Contract 101 contains the Sampaguita oil and gas discovery in the Reed Bank basin in offshore Palawan, and is said to contain reserves on a par with the Malampaya field.
In 2006, results from a 248-square-kilometer 3D seismic survey conducted by Forum Energy over the license area indicated reserves of about 3.4 trillion cubic feet of natural gas.
The Malampaya, the Philippines’ largest natural gas field to date, has estimated reserves of 3.7-trillion cubic feet. It fuels three power plants with a combined capacity of 2,700 megawatts.
Forum Energy had been trying to convert GSEC 101 into a full service contract, but the government had been sitting on the proposal for at least two years.
The conversion into a service contract was a pre-negotiated arrangement between the Department of Energy and Forum Energy, giving the British firm the right to pursue this option should it choose to do so.
But Energy department officials said that the department could not act on the company’s request because it was a matter of foreign policy.
Beijing earlier claimed the area covered by GSEC 101 to be part of a joint marine seismic undertaking in the Spratly’s Islands among state-owned companies of the Philippines, China and Vietnam.
The tripartite agreement, however, expired in July 2008, with the three parties yet to renew the accord.
A high-level cabinet meeting held a few weeks ago discussed Forum Energy’s proposed conversion of the GSEC into a full service contract.
Forum Energy holds a 70-percent stake in GSEC 101, which is the company’s principal asset, while Monte Oro Resources & Energy Inc., owns the remaining 30 percent.
Forum Energy was established in April 2005 through the consolidation of the assets of FEC Resources Inc. of Canada and Sterling Energy Plc of the UK into one corporate entity. Monte Oro, on the other hand, is the mother company of Monte Oro Grid Resources Corp., which in turn owns a 30-percent stake in the National Grid Corp. of the Philippines, the country’s power grid operator.
Die letzten 50000 Shares zu 0,0235 sind aus dem Ask weggekauft. Ask nun bei 0,049 $. Imo nur eine Frage der Zeit, bis wir dort sind.
Gruß
Gruß
Forum Energy given Palawan oil service contract
BusinessWorld | 02/18/2010 12:59 AM
Printer-friendly versionPrinter-friendly version | Send to friendSend to friend | Share your viewsShare your views
* Delicious
* Digg
* Facebook
* Google
* Yahoo
* Technorati
* Share On Multiply!
MANILA, Philippines - London-based oil and gas company Forum Energy Plc. finally received clearance to start drilling in South China Sea following the conversion by the Department of Energy of the firm’s geophysical survey exploration contract (GSEC) into a full service contract.
“We are pleased to have finally secured the Service Contract over the GSEC 101 area in what is a company-changing development for Forum Energy,” Walter W. Brown, Forum Energy chief executive officer, said in a statement.
The service contract, which will eventually lead to commercial operations in the field, was awarded to Forum Limited, a unit of Forum Energy. “Full details relating to the contract work program will be announced shortly,” the firm said.
“We intend to push forward with the appraisal of this gas field to commerciality,” Mr. Brown said.
The exploration block, where Forum Energy holds a 70% interest, is located off Western Palawan in the South China Sea.
The area covers the Sampaguita oil and gas discovery in the Reed Bank Basin, which the Chinese government claims is part of the contested Spratly Islands.
The block lies 250 kilometers southwest of the Malampaya field, the largest natural gas field in the country which powers three plants.
“Given the potential size of the resource and proximity to the Asian markets, we believe this project is an ideal candidate for an LNG (liquefied natural gas) facility,” Mr. Brown said.
Forum Energy earlier said it had already invested over $5 million on exploration activities in the area. The firm said the project will enable it to engage in gas exports.
Seismic mapping done by Forum Energy confirmed minimum gas reserves of up to 3.4 trillion cubic feet and a potential of up to 20 trillion cubic feet.
The Malampaya gas field, in comparison, has confirmed reserves of 2.6 trillion cubic feet.
GSEC 101’s conversion into a service contract was delayed as the area is covered by the tripartite deal of Philippines, Vietnam and China in 2005 for a three-year joint marine study in the South China Sea, which includes the disputed Spratly Islands.
The agreement was signed by Philippine National Oil Co., China National Offshore Oil Corp., and Vietnam Oil and Gas Corp.
The deal involved joint marine seismic research without drilling activities.
Forum Energy’s other oil and gas assets in the Philippines include a 66.7% interest in Service Contract 40, a service contract in Cebu which contains the onshore Libertad Gas Field and Maya discovery, and a 2.28% stake at the Galoc oil field.
Forum Energy was established in April 2005 through the consolidation of the assets of FEC Resources, Inc. of Canada and Sterling Energy Plc of the UK into one corporate entity.
as of 02/18/2010 12:59 AM
Forum Energy given Palawan oil service contract
BusinessWorld | 02/18/2010 12:59 AM
Printer-friendly versionPrinter-friendly version | Send to friendSend to friend | Share your viewsShare your views
* Delicious
* Digg
* Facebook
* Google
* Yahoo
* Technorati
* Share On Multiply!
MANILA, Philippines - London-based oil and gas company Forum Energy Plc. finally received clearance to start drilling in South China Sea following the conversion by the Department of Energy of the firm’s geophysical survey exploration contract (GSEC) into a full service contract.
“We are pleased to have finally secured the Service Contract over the GSEC 101 area in what is a company-changing development for Forum Energy,” Walter W. Brown, Forum Energy chief executive officer, said in a statement.
The service contract, which will eventually lead to commercial operations in the field, was awarded to Forum Limited, a unit of Forum Energy. “Full details relating to the contract work program will be announced shortly,” the firm said.
“We intend to push forward with the appraisal of this gas field to commerciality,” Mr. Brown said.
The exploration block, where Forum Energy holds a 70% interest, is located off Western Palawan in the South China Sea.
The area covers the Sampaguita oil and gas discovery in the Reed Bank Basin, which the Chinese government claims is part of the contested Spratly Islands.
The block lies 250 kilometers southwest of the Malampaya field, the largest natural gas field in the country which powers three plants.
“Given the potential size of the resource and proximity to the Asian markets, we believe this project is an ideal candidate for an LNG (liquefied natural gas) facility,” Mr. Brown said.
Forum Energy earlier said it had already invested over $5 million on exploration activities in the area. The firm said the project will enable it to engage in gas exports.
Seismic mapping done by Forum Energy confirmed minimum gas reserves of up to 3.4 trillion cubic feet and a potential of up to 20 trillion cubic feet.
The Malampaya gas field, in comparison, has confirmed reserves of 2.6 trillion cubic feet.
GSEC 101’s conversion into a service contract was delayed as the area is covered by the tripartite deal of Philippines, Vietnam and China in 2005 for a three-year joint marine study in the South China Sea, which includes the disputed Spratly Islands.
The agreement was signed by Philippine National Oil Co., China National Offshore Oil Corp., and Vietnam Oil and Gas Corp.
The deal involved joint marine seismic research without drilling activities.
Forum Energy’s other oil and gas assets in the Philippines include a 66.7% interest in Service Contract 40, a service contract in Cebu which contains the onshore Libertad Gas Field and Maya discovery, and a 2.28% stake at the Galoc oil field.
Forum Energy was established in April 2005 through the consolidation of the assets of FEC Resources, Inc. of Canada and Sterling Energy Plc of the UK into one corporate entity.
as of 02/18/2010 12:59 AM
BusinessWorld | 02/18/2010 12:59 AM
Printer-friendly versionPrinter-friendly version | Send to friendSend to friend | Share your viewsShare your views
* Delicious
* Digg
* Yahoo
* Technorati
* Share On Multiply!
MANILA, Philippines - London-based oil and gas company Forum Energy Plc. finally received clearance to start drilling in South China Sea following the conversion by the Department of Energy of the firm’s geophysical survey exploration contract (GSEC) into a full service contract.
“We are pleased to have finally secured the Service Contract over the GSEC 101 area in what is a company-changing development for Forum Energy,” Walter W. Brown, Forum Energy chief executive officer, said in a statement.
The service contract, which will eventually lead to commercial operations in the field, was awarded to Forum Limited, a unit of Forum Energy. “Full details relating to the contract work program will be announced shortly,” the firm said.
“We intend to push forward with the appraisal of this gas field to commerciality,” Mr. Brown said.
The exploration block, where Forum Energy holds a 70% interest, is located off Western Palawan in the South China Sea.
The area covers the Sampaguita oil and gas discovery in the Reed Bank Basin, which the Chinese government claims is part of the contested Spratly Islands.
The block lies 250 kilometers southwest of the Malampaya field, the largest natural gas field in the country which powers three plants.
“Given the potential size of the resource and proximity to the Asian markets, we believe this project is an ideal candidate for an LNG (liquefied natural gas) facility,” Mr. Brown said.
Forum Energy earlier said it had already invested over $5 million on exploration activities in the area. The firm said the project will enable it to engage in gas exports.
Seismic mapping done by Forum Energy confirmed minimum gas reserves of up to 3.4 trillion cubic feet and a potential of up to 20 trillion cubic feet.
The Malampaya gas field, in comparison, has confirmed reserves of 2.6 trillion cubic feet.
GSEC 101’s conversion into a service contract was delayed as the area is covered by the tripartite deal of Philippines, Vietnam and China in 2005 for a three-year joint marine study in the South China Sea, which includes the disputed Spratly Islands.
The agreement was signed by Philippine National Oil Co., China National Offshore Oil Corp., and Vietnam Oil and Gas Corp.
The deal involved joint marine seismic research without drilling activities.
Forum Energy’s other oil and gas assets in the Philippines include a 66.7% interest in Service Contract 40, a service contract in Cebu which contains the onshore Libertad Gas Field and Maya discovery, and a 2.28% stake at the Galoc oil field.
Forum Energy was established in April 2005 through the consolidation of the assets of FEC Resources, Inc. of Canada and Sterling Energy Plc of the UK into one corporate entity.
as of 02/18/2010 12:59 AM
Forum Energy given Palawan oil service contract
BusinessWorld | 02/18/2010 12:59 AM
Printer-friendly versionPrinter-friendly version | Send to friendSend to friend | Share your viewsShare your views
* Delicious
* Digg
* Yahoo
* Technorati
* Share On Multiply!
MANILA, Philippines - London-based oil and gas company Forum Energy Plc. finally received clearance to start drilling in South China Sea following the conversion by the Department of Energy of the firm’s geophysical survey exploration contract (GSEC) into a full service contract.
“We are pleased to have finally secured the Service Contract over the GSEC 101 area in what is a company-changing development for Forum Energy,” Walter W. Brown, Forum Energy chief executive officer, said in a statement.
The service contract, which will eventually lead to commercial operations in the field, was awarded to Forum Limited, a unit of Forum Energy. “Full details relating to the contract work program will be announced shortly,” the firm said.
“We intend to push forward with the appraisal of this gas field to commerciality,” Mr. Brown said.
The exploration block, where Forum Energy holds a 70% interest, is located off Western Palawan in the South China Sea.
The area covers the Sampaguita oil and gas discovery in the Reed Bank Basin, which the Chinese government claims is part of the contested Spratly Islands.
The block lies 250 kilometers southwest of the Malampaya field, the largest natural gas field in the country which powers three plants.
“Given the potential size of the resource and proximity to the Asian markets, we believe this project is an ideal candidate for an LNG (liquefied natural gas) facility,” Mr. Brown said.
Forum Energy earlier said it had already invested over $5 million on exploration activities in the area. The firm said the project will enable it to engage in gas exports.
Seismic mapping done by Forum Energy confirmed minimum gas reserves of up to 3.4 trillion cubic feet and a potential of up to 20 trillion cubic feet.
The Malampaya gas field, in comparison, has confirmed reserves of 2.6 trillion cubic feet.
GSEC 101’s conversion into a service contract was delayed as the area is covered by the tripartite deal of Philippines, Vietnam and China in 2005 for a three-year joint marine study in the South China Sea, which includes the disputed Spratly Islands.
The agreement was signed by Philippine National Oil Co., China National Offshore Oil Corp., and Vietnam Oil and Gas Corp.
The deal involved joint marine seismic research without drilling activities.
Forum Energy’s other oil and gas assets in the Philippines include a 66.7% interest in Service Contract 40, a service contract in Cebu which contains the onshore Libertad Gas Field and Maya discovery, and a 2.28% stake at the Galoc oil field.
Forum Energy was established in April 2005 through the consolidation of the assets of FEC Resources, Inc. of Canada and Sterling Energy Plc of the UK into one corporate entity.
as of 02/18/2010 12:59 AM
Antwort auf Beitrag Nr.: 38.961.136 von xxtsc am 17.02.10 18:18:05das sieht sehr guuuuuuuuuut aus da drüben!!!
Antwort auf Beitrag Nr.: 38.961.437 von hainholz am 17.02.10 18:55:17yep....wunderbar grün!!! Das lange Warten hat sich gelohnt!
eieiei
Antwort auf Beitrag Nr.: 38.961.574 von hainholz am 17.02.10 19:16:44Wow...0,0285 $
Na endlich!Regelrechte Kursexplosion.Könnte weiter steigen und nicht nur ein kurzes Zucken sein.
Antwort auf Beitrag Nr.: 38.961.772 von Grauewoelfe am 17.02.10 19:47:32Absturz auf 0,018 $, MM-Spiele.
Antwort auf Beitrag Nr.: 38.961.799 von xxtsc am 17.02.10 19:51:28jau
Antwort auf Beitrag Nr.: 38.961.940 von hainholz am 17.02.10 20:16:12...und wieder up, 0,0285$
Totgeglaubte leben länger.
Habe die seit ewigen Zeiten im Depot. War einer dieser Anfängerfehler.
Jetzt nur noch minus 65%!
Na, schaun mer mal.
Habe die seit ewigen Zeiten im Depot. War einer dieser Anfängerfehler.
Jetzt nur noch minus 65%!
Na, schaun mer mal.
RNS Number : 3421H Forum Energy Plc 18 February 2010
Forum Energy Plc
("Forum Energy" or the "Company")
Confirmation of New Contract Name and Clarification regarding press speculation
Further to the Company's announcement of 15 February 2010, relating to the award of the service contract over the GSEC 101 licence area, the board of Forum Energy has received confirmation by way of a letter from the Republic of the Philippines' Department of Energy that the new service contract is Service Contract 72 (SC72).
Further to press speculation in Manila today, the Company also wishes to confirm that SC72 is not situated in the Spratly Group of Islands. It has an areal extent of 8,800 square-kilometres and is in fact located in Reed Bank area. Reed Bank area is approximately 150 kilometres east of Spratlys near the Philippine island of Palawan.
The Company further states that SC72 is within the 200 nautical mile Exclusive Economic Zone (EEZ) based on Republic Act No. 9522 or the Philippine Archipelagic Baseline Law signed on March 10, 2009. RA 9522 defines the archipelagic baselines of the Philippines, while affirming Philippine sovereignty and jurisdiction over the areas including that of SC72.
For further information please contact:
Forum Energy Plc
Andrew Mullins, Executive Director Tel: +44 (0) 1932 445 344
Execution Noble & Company Limited
Harry Stockdale, John Llewellyn-Lloyd Tel: +44 (0) 20 7456 9191
Pelham Bell Pottinger
Nick Lambert / Henry Lerwill Tel: +44 (0) 20 7337 1500
Or visit the Company's website: www.forumenergyplc.com
Forum Energy Plc
("Forum Energy" or the "Company")
Confirmation of New Contract Name and Clarification regarding press speculation
Further to the Company's announcement of 15 February 2010, relating to the award of the service contract over the GSEC 101 licence area, the board of Forum Energy has received confirmation by way of a letter from the Republic of the Philippines' Department of Energy that the new service contract is Service Contract 72 (SC72).
Further to press speculation in Manila today, the Company also wishes to confirm that SC72 is not situated in the Spratly Group of Islands. It has an areal extent of 8,800 square-kilometres and is in fact located in Reed Bank area. Reed Bank area is approximately 150 kilometres east of Spratlys near the Philippine island of Palawan.
The Company further states that SC72 is within the 200 nautical mile Exclusive Economic Zone (EEZ) based on Republic Act No. 9522 or the Philippine Archipelagic Baseline Law signed on March 10, 2009. RA 9522 defines the archipelagic baselines of the Philippines, while affirming Philippine sovereignty and jurisdiction over the areas including that of SC72.
For further information please contact:
Forum Energy Plc
Andrew Mullins, Executive Director Tel: +44 (0) 1932 445 344
Execution Noble & Company Limited
Harry Stockdale, John Llewellyn-Lloyd Tel: +44 (0) 20 7456 9191
Pelham Bell Pottinger
Nick Lambert / Henry Lerwill Tel: +44 (0) 20 7337 1500
Or visit the Company's website: www.forumenergyplc.com
na dann wolln wir mal sehen,was heut abgeht
der Anfang sieht ja gut aus
der Anfang sieht ja gut aus
na das ist ja was
0,040
+300,00 %
+0,030
Frankfurt (EUR), 18.02.10 | 18:04
Intraday-Chart Fec Resources
FEC RESOURCES - Aktie
WKN: A0ERXT | ISIN: CA30246X1087 | FE8
Hinzufügen zu: Portfolio
0,040
+300,00 %
+0,030
Frankfurt (EUR), 18.02.10 | 18:04
Intraday-Chart Fec Resources
FEC RESOURCES - Aktie
WKN: A0ERXT | ISIN: CA30246X1087 | FE8
Hinzufügen zu: Portfolio
Antwort auf Beitrag Nr.: 38.968.922 von hainholz am 18.02.10 18:50:27Man beachte das Volumen in Frankfurt!
Ich denke, der Kurs wird sich jetzt erstmal im Rahmen von 0,02 - 0,03 $ einpendeln und sich erst mit weiteren News bewegen. Bis jetzt ist die mögliche Erdgasresource nach oben nur eine Schätzung. Hier lauert das Potential.
Die MMs haben heute FEP bis 90 Pence gedrückt, um weiter einzusammeln. Ohnehin ist z.Zt. das Volumen gering. Das wird sich imo ändern, je höher wir klettern. Mit Philex im Rücken macht FEC wieder Spass. Der Kurs befindet sich nun am Anfang eines lang anhaltenden Aufwärtstrends. Ist natürlich nur meine Sicht der Dinge.
Gruß
Ich denke, der Kurs wird sich jetzt erstmal im Rahmen von 0,02 - 0,03 $ einpendeln und sich erst mit weiteren News bewegen. Bis jetzt ist die mögliche Erdgasresource nach oben nur eine Schätzung. Hier lauert das Potential.
Die MMs haben heute FEP bis 90 Pence gedrückt, um weiter einzusammeln. Ohnehin ist z.Zt. das Volumen gering. Das wird sich imo ändern, je höher wir klettern. Mit Philex im Rücken macht FEC wieder Spass. Der Kurs befindet sich nun am Anfang eines lang anhaltenden Aufwärtstrends. Ist natürlich nur meine Sicht der Dinge.
Gruß
Antwort auf Beitrag Nr.: 38.969.068 von xxtsc am 18.02.10 19:12:14also in England wird schon auf shell oder sino als Partner getippt
Antwort auf Beitrag Nr.: 38.974.377 von hainholz am 19.02.10 14:52:25Hi Hain, darüber kann man sicherlich spekulieren. Ich würde auf die phillip. Shell tippen, da sie bereits bei Malampaya aktiv sind. Sino Petroleum wäre natürlich auch ein guter Partner.
http://www.forumenergyplc.com/company/thephilippines/malampa…
http://malampaya.com/
Gruß
http://www.forumenergyplc.com/company/thephilippines/malampa…
http://malampaya.com/
Gruß
aber,vielleicht zieht philex das ganze auch selber durch was natürlich besser wäre.
zur erinnerung,es gab neulich erst frisches kapital
Philex Petroleum gets nod to hike capital
By Zinnia B. Dela Peña (The Philippine Star) Updated January 03, 2010 12:00 AM
MANILA, Philippines - Philex Petroleum Corp., a wholly-owned subsidiary of copper-gold producer Philex Mining Corp., has secured the Securities and Exchange Commission’s approval to increase its authorized capital stock from P2 billion to P6.8 billion.
Documents filed with the SEC show that out of the P4.8 billion increase in capitalization, P1.2 billion has been paid for by parent firm Philex.
The infusion of new capital will allow Philex Petroleum to beef up its oil and petroleum assets.
Philex Petroleum has a 33 percent interest in Forum Energy Plc (FEP), a UK-based company listed at the Alternative Investment Market of the London Stock Exchange.
FEP, through its 70 percent-owned subsidiary, Forum (GSEC 101) Ltd., holds Geophysical Survey and Exploration Contract (GSEC) No. 101 over the Sampaguita natural gas discovery in the northwest coast of Palawan, Philippines.
FEP has a pending application for the conversion of this GSEC into a service contract, after which further exploration of the Sampaguita property can be commenced.
Philex Petroleum also owns 6.4 percent of Pitkin Petroleum Ltd (Pitkin), a Texas-based junior exploration company in the United States currently producing on a small scale basis in Louisiana but with properties in offshore Vietnam and Peru.
Philex Petroleum also acquired 20 percent of PetroEnergy Resources Corp., a local company listed in the PSE engaged in oil exploration and in providing technical services to companies exploring for oil in the Philippines.
The investment of Philex Petroleum in FEP brought the Philex Group’s total interest to 61 percent taken together with the 28.4 percent interest of FEC Resources, Inc., a 50.7 percent-owned Canadian subsidiary of Philex Mining Corp.
The investment in Pitkin brought the Philex Group’s total investment to 21 percent taken together with the holdings of Philex Mining.
Aside from PPC and Pitkin, Philex Mining also has investments in Brixton Energy & Mining Corp. (BEMC) which is allowed to extract coal from a 2,000 hectare property in Zamboanga Sibugay for 32 years commencing on May 5, 2008.
View previous articles from this author.
und bei philex sitzen neuerdings einige neue ölleute im Board
die auch bei der größten phil. öl und tankstellenfirma aktiv sind.
zur erinnerung,es gab neulich erst frisches kapital
Philex Petroleum gets nod to hike capital
By Zinnia B. Dela Peña (The Philippine Star) Updated January 03, 2010 12:00 AM
MANILA, Philippines - Philex Petroleum Corp., a wholly-owned subsidiary of copper-gold producer Philex Mining Corp., has secured the Securities and Exchange Commission’s approval to increase its authorized capital stock from P2 billion to P6.8 billion.
Documents filed with the SEC show that out of the P4.8 billion increase in capitalization, P1.2 billion has been paid for by parent firm Philex.
The infusion of new capital will allow Philex Petroleum to beef up its oil and petroleum assets.
Philex Petroleum has a 33 percent interest in Forum Energy Plc (FEP), a UK-based company listed at the Alternative Investment Market of the London Stock Exchange.
FEP, through its 70 percent-owned subsidiary, Forum (GSEC 101) Ltd., holds Geophysical Survey and Exploration Contract (GSEC) No. 101 over the Sampaguita natural gas discovery in the northwest coast of Palawan, Philippines.
FEP has a pending application for the conversion of this GSEC into a service contract, after which further exploration of the Sampaguita property can be commenced.
Philex Petroleum also owns 6.4 percent of Pitkin Petroleum Ltd (Pitkin), a Texas-based junior exploration company in the United States currently producing on a small scale basis in Louisiana but with properties in offshore Vietnam and Peru.
Philex Petroleum also acquired 20 percent of PetroEnergy Resources Corp., a local company listed in the PSE engaged in oil exploration and in providing technical services to companies exploring for oil in the Philippines.
The investment of Philex Petroleum in FEP brought the Philex Group’s total interest to 61 percent taken together with the 28.4 percent interest of FEC Resources, Inc., a 50.7 percent-owned Canadian subsidiary of Philex Mining Corp.
The investment in Pitkin brought the Philex Group’s total investment to 21 percent taken together with the holdings of Philex Mining.
Aside from PPC and Pitkin, Philex Mining also has investments in Brixton Energy & Mining Corp. (BEMC) which is allowed to extract coal from a 2,000 hectare property in Zamboanga Sibugay for 32 years commencing on May 5, 2008.
View previous articles from this author.
und bei philex sitzen neuerdings einige neue ölleute im Board
die auch bei der größten phil. öl und tankstellenfirma aktiv sind.
Best Performing Stocks
Symbol Company Name Percent Change Chart
FDEI Fidelis Energy Inc 2,733.33%
RENWS Resolute Energy Corp 673.08%
EXXID Energy Xxi (Bermuda) Ltd 465.37%
PWOIF Power Oil & Gas Inc 386.11%
BXE Bellatrix Exploration Ltd. 373.56%
APXR Apex Res Group Inc 326.09%
IDCN Indocan Res Inc 300.00%
IFNY Infinity Energy Resources... 267.69%
FECOF Fec Resources Inc 263.64%
SROEQ Saratoga Resources Inc 243.14%
die tabelle werden sie von unten aufrollen
Symbol Company Name Percent Change Chart
FDEI Fidelis Energy Inc 2,733.33%
RENWS Resolute Energy Corp 673.08%
EXXID Energy Xxi (Bermuda) Ltd 465.37%
PWOIF Power Oil & Gas Inc 386.11%
BXE Bellatrix Exploration Ltd. 373.56%
APXR Apex Res Group Inc 326.09%
IDCN Indocan Res Inc 300.00%
IFNY Infinity Energy Resources... 267.69%
FECOF Fec Resources Inc 263.64%
SROEQ Saratoga Resources Inc 243.14%
die tabelle werden sie von unten aufrollen
die gasfelder der welt
da wären sie dabei
World largest Non Associated Gas Fields ( Tcf ).[1]
№ Field Name Country Recoverable Reserves Tcf
1 South Pars/North Dome Iran and Qatar 1235
2 Urengoy Russia 222
3 Yamburg Russia 138
4 Hassi R’Mel Algeria 123
5 Shtokman Russia 110
6 South Iolotan–Osman Turkmenistan 98
7 Zapolyarnoye Russia 95
8 Hugoton USA (TX-OK-KS) 81
9 Groningen Netherlands 73
10 Bonavenko Russia 70
11 Medvezhye Russia 68
12 North Pars Iran 48
13 Dauletabad-Donmez Turkmenistan 47
14 Karachaganak Kazakhstan 46
15 Kish Iran 45
16 Orenburg Russia 45
17 Kharsavey Russia 42
18 Golshan Iran 30
19 Tabnak Iran 22
20 Kangan Iran 20
da wären sie dabei
World largest Non Associated Gas Fields ( Tcf ).[1]
№ Field Name Country Recoverable Reserves Tcf
1 South Pars/North Dome Iran and Qatar 1235
2 Urengoy Russia 222
3 Yamburg Russia 138
4 Hassi R’Mel Algeria 123
5 Shtokman Russia 110
6 South Iolotan–Osman Turkmenistan 98
7 Zapolyarnoye Russia 95
8 Hugoton USA (TX-OK-KS) 81
9 Groningen Netherlands 73
10 Bonavenko Russia 70
11 Medvezhye Russia 68
12 North Pars Iran 48
13 Dauletabad-Donmez Turkmenistan 47
14 Karachaganak Kazakhstan 46
15 Kish Iran 45
16 Orenburg Russia 45
17 Kharsavey Russia 42
18 Golshan Iran 30
19 Tabnak Iran 22
20 Kangan Iran 20
Antwort auf Beitrag Nr.: 38.979.986 von hainholz am 20.02.10 19:49:34Für die Aktionäre sicherlich das beste, wenn Philex und FEP das Projekt alleine stemmen. Ein weiterer Partner dürfte sicherlich auf eine Beteiligung an FEP bestehen. Dies hieße Dilution und würde die Beteiligung von FEC (25 %) an FEP schrumpfen lassen.
Andererseits hat Brown gesagt: this project is an ideal candidate for an LNG facility, also eine Anlage, die das Gas zu Flüssigas macht, um den Weitertransport per Tanker zu ermöglichen. Eine solche Anlage ist sehr sehr teuer, wenn sie neu gebaut wird. Anders, wenn sie bereits vorhanden ist und lediglich Pipeline und Bohrplattform nötig sind. Nun weiss ich nicht, ob eine solche Anlage in der Gegend bereits besteht. An Malampaya hängt eine solche Anlage nicht, sondern drei Kraftwerke. Der Wert von Malampaya wird derzeit mit 4 Mrd.§ angegeben.
Auf alle Fälle dürfte eine Milliardeninvestion nötig sein, um das Projekt zu verwirklichen. Das ist ne Menge Schotter und es ist die Frage, ob Philex und FEP dies allein aufbringen.
Wir dürfen gespannt sein, was Brown demnächst zu den Details sagen wird.
Gruß
Andererseits hat Brown gesagt: this project is an ideal candidate for an LNG facility, also eine Anlage, die das Gas zu Flüssigas macht, um den Weitertransport per Tanker zu ermöglichen. Eine solche Anlage ist sehr sehr teuer, wenn sie neu gebaut wird. Anders, wenn sie bereits vorhanden ist und lediglich Pipeline und Bohrplattform nötig sind. Nun weiss ich nicht, ob eine solche Anlage in der Gegend bereits besteht. An Malampaya hängt eine solche Anlage nicht, sondern drei Kraftwerke. Der Wert von Malampaya wird derzeit mit 4 Mrd.§ angegeben.
Auf alle Fälle dürfte eine Milliardeninvestion nötig sein, um das Projekt zu verwirklichen. Das ist ne Menge Schotter und es ist die Frage, ob Philex und FEP dies allein aufbringen.
Wir dürfen gespannt sein, was Brown demnächst zu den Details sagen wird.
Gruß
Antwort auf Beitrag Nr.: 38.981.056 von xxtsc am 21.02.10 12:52:27Wenn Ölriesen schon JV's eingehen um solche Kosten zu teilen,dann ist es schon ein aussichtslosen Unterfangen dies seitens FEP und Philex selbst zu finanzieren.
Mal schauen ob es dafür einen Plan gibt.
Mal schauen ob es dafür einen Plan gibt.
Antwort auf Beitrag Nr.: 38.981.096 von Grauewoelfe am 21.02.10 13:06:41Einen Plan gibt es und das Projekt wird umgesetzt werden, die Frage ist, was für FEC dabei rausspringt und wie der Plan aussieht?
Spratlys deal with UK firm within RP’s economic zone -- Reyes
By Amy R. Remo
Philippine Daily Inquirer
First Posted 21:39:00 02/21/2010
Filed Under: Government Contracts, Energy
MANILA, Philippines -- The Department of Energy stressed that the petroleum service contract it awarded last week to UK-based Forum Energy Plc did not cover areas within the disputed Spratly Islands.
Energy Secretary Angelo T. Reyes explained that the area under Service Contract 72 (formerly geophysical survey exploration contract 101) was within the 200-mile Exclusive Economic Zone (EEZ).
“If it's within the EEZ, government has the authority to engage in the exploration, development and utilization of natural resources and enter into an arrangement and that authority is within the DOE,” he added.
According to Forum Energy, the SC 72 covers some 880,000 hectares within the Reed Bank basin, which is at least 150 kilometers east of the Spratlys and is rather closer to the island of Palawan. Initial government estimates had placed total resources in the basin at around 440 million barrels of oil
The energy chief also pointed out that the government had to award the contract based on the agreement under the GSEC 101 license.
“Before the expiration of the GSEC (of four years), they applied for conversion and in a sense, it was already a contractual obligation of the Philippine government to grant it because we said that when they applied, we will approve the automatic conversion of the GSEC into a service contract if you work on your submitted work program,” Reyes explained.
“They did fulfill their obligations, they performed the work program to the satisfaction of the DOE and they spent about $5 million," he added.
According to Forum Energy, the Sampaguita oil and gas field discovery alone, which is located within the service contract area, was estimated to contain as much as 3.4 trillion cubic feet of gas.
Since May 2007, Forum Energy has been negotiating for the conversion of its GSEC license, but government officials earlier said that the fate of the application had been affected by the controversial joint marine seismic undertaking (JMSU).
Covering 142,886-sq. km., the JMSU, which expired in July 2008, is a tripartite accord among state-owned Philippine National Oil Co., China National Offshore Oil Co. and Vietnam Oil and Gas Corp.
The entire GSEC 101 area is within the coverage of this JMSU, which includes the disputed Spratlys. The granting of a service contract to Forum Energy would allow it to explore these areas that were covered by the JMSU, such as the Sampaguita oil and gas field.
The DOE had to elevate the application to Malacañang prior to the approval. Energy Secretary Angelo T. Reyes earlier confirmed that top-level Cabinet meetings were held in 2009 to determine whether the government should grant Forum Energy this service contract.
http://newsinfo.inquirer.net/breakingnews/nation/view/201002…
Spratlys deal with UK firm within RP’s economic zone -- Reyes
By Amy R. Remo
Philippine Daily Inquirer
First Posted 21:39:00 02/21/2010
Filed Under: Government Contracts, Energy
MANILA, Philippines -- The Department of Energy stressed that the petroleum service contract it awarded last week to UK-based Forum Energy Plc did not cover areas within the disputed Spratly Islands.
Energy Secretary Angelo T. Reyes explained that the area under Service Contract 72 (formerly geophysical survey exploration contract 101) was within the 200-mile Exclusive Economic Zone (EEZ).
“If it's within the EEZ, government has the authority to engage in the exploration, development and utilization of natural resources and enter into an arrangement and that authority is within the DOE,” he added.
According to Forum Energy, the SC 72 covers some 880,000 hectares within the Reed Bank basin, which is at least 150 kilometers east of the Spratlys and is rather closer to the island of Palawan. Initial government estimates had placed total resources in the basin at around 440 million barrels of oil
The energy chief also pointed out that the government had to award the contract based on the agreement under the GSEC 101 license.
“Before the expiration of the GSEC (of four years), they applied for conversion and in a sense, it was already a contractual obligation of the Philippine government to grant it because we said that when they applied, we will approve the automatic conversion of the GSEC into a service contract if you work on your submitted work program,” Reyes explained.
“They did fulfill their obligations, they performed the work program to the satisfaction of the DOE and they spent about $5 million," he added.
According to Forum Energy, the Sampaguita oil and gas field discovery alone, which is located within the service contract area, was estimated to contain as much as 3.4 trillion cubic feet of gas.
Since May 2007, Forum Energy has been negotiating for the conversion of its GSEC license, but government officials earlier said that the fate of the application had been affected by the controversial joint marine seismic undertaking (JMSU).
Covering 142,886-sq. km., the JMSU, which expired in July 2008, is a tripartite accord among state-owned Philippine National Oil Co., China National Offshore Oil Co. and Vietnam Oil and Gas Corp.
The entire GSEC 101 area is within the coverage of this JMSU, which includes the disputed Spratlys. The granting of a service contract to Forum Energy would allow it to explore these areas that were covered by the JMSU, such as the Sampaguita oil and gas field.
The DOE had to elevate the application to Malacañang prior to the approval. Energy Secretary Angelo T. Reyes earlier confirmed that top-level Cabinet meetings were held in 2009 to determine whether the government should grant Forum Energy this service contract.
http://newsinfo.inquirer.net/breakingnews/nation/view/201002…
Auf TradersPizza meint man eher, dass die Chinesen (Sino?) projektbeteiligt werden, sozusagen als "Entschädigung" für die bisherigen Gebietsstreitigkeiten und da hier auch der Absatzmarkt gesehen wird. Schauen wir mal, das Ganze bleibt sehr spannend.
Gruß
Gruß
Govt backs Forum Energy claim
Monday, 22 February 2010 00:00
THE Department of Energy (DOE) has backed up a British firm’s claim that a disputed territory it is exploring is within the Philippines’ juridisction.
In a press conference on Friday, Energy Secretary Angelo Reyes said that Geophysical Survey Exploration Contract (GSEC) 101, which covers the work area of Forum Energy Plc. in offshore Palawan is within the Philippines’ exclusive economic zone (EEZ).
”GSEC 101 is within the 200-mile [EEZ] and if its within the EEZ, [then] government has the authority to engage in the exploration, development and utilization of natural resources and enter into any kind of arrangement. And that authority is within the DOE,” Reyes said.
The Energy department recently converted Forum Energy’s GSEC 101 into a service contract, allowing the company to start drilling operations in the area.
The company had applied for the conversion since 2006 after completing its work program over the block and spending about $5 million in its exploration activities.
GSEC 101 contains the Reed Bank basin that is projected to hold significant natural gas reserves.
The delay in the conversion was said to have been caused by the joint marine seismic undertaking (JMSU) signed by state-owned companies of the Philippines, China and Vietnam in March 2005.
The JMSU called for a joint exploration of the Spratly’s Islands but somehow included the area covered by GSEC 101. The JMSU lapsed in July 2008.
Euan Paulo C. Añonuevo
Monday, 22 February 2010 00:00
THE Department of Energy (DOE) has backed up a British firm’s claim that a disputed territory it is exploring is within the Philippines’ juridisction.
In a press conference on Friday, Energy Secretary Angelo Reyes said that Geophysical Survey Exploration Contract (GSEC) 101, which covers the work area of Forum Energy Plc. in offshore Palawan is within the Philippines’ exclusive economic zone (EEZ).
”GSEC 101 is within the 200-mile [EEZ] and if its within the EEZ, [then] government has the authority to engage in the exploration, development and utilization of natural resources and enter into any kind of arrangement. And that authority is within the DOE,” Reyes said.
The Energy department recently converted Forum Energy’s GSEC 101 into a service contract, allowing the company to start drilling operations in the area.
The company had applied for the conversion since 2006 after completing its work program over the block and spending about $5 million in its exploration activities.
GSEC 101 contains the Reed Bank basin that is projected to hold significant natural gas reserves.
The delay in the conversion was said to have been caused by the joint marine seismic undertaking (JMSU) signed by state-owned companies of the Philippines, China and Vietnam in March 2005.
The JMSU called for a joint exploration of the Spratly’s Islands but somehow included the area covered by GSEC 101. The JMSU lapsed in July 2008.
Euan Paulo C. Añonuevo
2009 Gewinnzone erreicht
Testierten Ergebnisse für das Geschäftsjahr zum 31. Dezember 2009
Forum Energy, dem Vereinigten Königreich übernommen Öl-und Gas-Explorations-und Produktionsunternehmen mit Schwerpunkt auf den Philippinen, gibt heute seine geprüften Ergebnisse für das Geschäftsjahr zum 31. Dezember 2009.
OPERATIVE HIGHLIGHTS
路 Company-Wechsel der Entwicklung über die Vergabe von Service-Vertrag 72 (SC 72) über die GSEC101 Lizenzgebiet am 15. Februar 2010;
路 Galoc Produktion von 2,5 Millionen Barrel brutto im Jahr 2009, voraussichtlich um 2,3 Millionen Barrel brutto im Jahr 2010 zu stabilisieren; Forum Energy hat einen 2,27%-Beteiligung im Bereich;
路 Vervollständigung der Rationalisierung von nicht zum Kerngeschäft Kohle Vermögenswerte durch den Verkauf von Cebu Forum Coal Corporation "für US $ 1 Million in bar;
路 Department of Energy Genehmigung des Verkaufs-und Gas Purchase Agreement (GSPA) über die Entwicklung der Libertad Gasfeld in Cebu und
路 Fortsetzung Programm zur Überprüfung mehrere nationale und internationale Chancen.
Finanz-und Unternehmenskommunikation HIGHLIGHTS
路 Netto-Cash-Mittel in Höhe von US $ 4.1Mio zum 31. Dezember 2009 (2008: US $ 2,6 Mio.);
路 Eigenkapital von US $ 44 Millionen zum 31. Dezember 2009 (2008: US $ 45 Mio.);
路 Umsatz von US $ 1,8 Mio. in 2009 (2008: US $ 0,7 Mio.) und
路 Fixed Overhead-Kosten um 41% im Jahr 2009 reduziert im Vergleich zu 2008.
Wasser Brown, Chief Executive Officer, kommentierte:
"Forum Energie ist sehr gut aufgestellt, um den vollen Vorteil der SC72 Asset nehmen. Forum hat nun die Möglichkeit, uns mit der Entwicklung des potenziell erstklassigen Gas Entdeckung SC72 bewegen und in die Beurteilung einbezogen zu bewegen. Wir glauben, dass dies Material zu schaffen Mehrwert für unsere Aktionäre, und wir freuen uns auf die Freisetzung von mehr spezifische Details in Kürze. "
Die technischen Informationen in dieser Mitteilung wurden geprüft und genehmigt durch Graf Geophysics Limited und Oilfield Produktion Consultants (OPC) Limited, beide unabhängigen Beratungsunternehmen, die die Auslegung von 3D-und 2D der Firma seismischen Programmen durchgeführt.
Für weitere Informationen kontaktieren Sie bitte:
Forum Energy Plc
Andrew Mullins, Executive Director Tel: +44 (0) 1932 445 344
Execution Noble & Company Limited
Harry Stockdale / John Llewellyn-Lloyd Tel: +44 (0) 20 7456 9191
Pelham Bell Pottinger
Nick Lambert / Henry Lerwill Tel: +44 (0) 20 7337 1500
Oder besuchen Sie die Website des Unternehmens:
www.forumenergyplc.com
Überblick
Zu den wichtigsten Vermögenswert ist eine 70%-Anteil an Service-Vertrag 72 (SC72), früher GSEC101, ein 8800 Quadratkilometer große Offshore-Erdöl-Lizenz befindet sich westlich von der Insel Palawan im Südchinesischen Meer.
Im Jahr 2006 deuten die Ergebnisse von einem 248-Quadratkilometer 3D-Seismik-Untersuchung über die Lizenz Bereich Mittel 3,4 Billionen Kubikfuß (TCF) Gas-in-Place (GIP) mit erheblichem Wachstumspotential.
Im Jahr 2008, Philex Mining Corporation, einer Firma, die Philippine Stock Exchange gelistet ist, erwarb eine wirksame Kontrolle 61,44% beteiligt ist (direkt und indirekt gehaltenen) in der Gesellschaft durch ein Übernahmeangebot für alle Aktien zu 48 Pence pro Aktie. Eine weitere Spendenaktion im November 2009 von 拢 1,5 Millionen (ca. US $ 2,4 Mio.) bei 50p hat dem Spiel Philex Mining Corporation erhöht (direkt und indirekt gehaltenen) auf 62,59%.
Am 15. Februar 2010, wurde GSEC101 umgewandelt SC72 von den philippinischen Department of Energy.
CHIEF EXECUTIVE'S STATEMENT
Forum Energy hat bedeutende Fortschritte bei der bisherigen Vergabe von SC 72 aus (früher GSEC101). Nach über drei Jahren über die Umwandlung des GSEC101 zu einem Service-Vertrag gearbeitet, diese Auszeichnung ebnet den Weg für die Lieferung von Material Wert für die Aktionäre Forum Energy mit der Ausbeutung der einen potenziell erstklassigen Gas zu hinterlegen. Forum wird seine Zukunft bekannt geben Pläne für weitere Beurteilung der SC72 in Kürze. Es ist die Firma Absicht zur weiteren Beurteilung der Arbeit beginnen, ohne Verzögerung.
Im Jahr 2009 verzeichnete Forum Energie ein Bruttoergebnis von EUR 0,2 Mio. im Geschäftsjahr
31. Dezember 2009 verglichen mit einem Verlust von US $ 0,3 Millionen für das Vorjahr durch die Aufnahme der Produktion Einnahmen aus Galoc und der Anstieg der Ölpreise im Jahr 2009. Der Umsatz stieg um 153% auf US $ 1,8 Millionen, G & A-Kosten um 41% auf US $ 2,6 Mio. reduziert und der Netto-Zahlungsmittel und Zahlungsmitteläquivalente erhöhte sich auf US $ 4,1 Millionen. Das Unternehmen abgeschlossen Straffung der nicht zum Kerngeschäft gehörenden Vermögenswerte Kohle erfolgreich durch den Verkauf des letzten Kohle-Konzession.
SC72 (früher GSEC101)
Der SC72 Lizenz umfasst eine Fläche von 8800 qkm und wurde früher als GCEC 101 bezeichnet.
Ergebnisse von der Firma 3D-Seismik-Programm und seine Interpretation von unabhängigen Beratern durchgeführt, Graf Geophysics Limited und Oilfield Produktion Consultants (OPC) Limited, im Jahr 2006 bestätigt, dass eine mittlere Höhe von 3,4 TCF Gas in Place (GIP). Eine erweiterte GIP Schätzung der volumetrische Analyse, die von Graf Geophysics Limited und Oilfield Produktion Consultants (OPC) Limited ist unten aufgeführt. Es sei darauf hingewiesen, dass die 5%-Fall, der Analyse der seismischen 2D-Daten auch verwendet wurde.
Reservoir Abschnitt GIP (TCF)
Alttertiär
Untersten bekannten Gas bei S-2 3,41
Most Likely Bereich (115 km2) Mittelwert
Max. Schließung, 5% ergibt (290 km2) 9,74
Kreide
Most Likely Bereich (115 km2) 4,39
Bedeuten
Max. Schließung, 5% ergibt (257 km2) 9,83
Diese volumetrische Analyse unterstützt das Unternehmen die Auffassung, dass es das Potenzial für signifikante den Kopf in den SC72 Lizenzgebiet, sowohl innerhalb der frühen Tertiär und Kreide Zonen.
Im Jahr 2008 (ein Joint Venture "JV") wurde mit dem Monte Oro Ressourcen und Energie gebildet, Inc. (MORE), die das Joint Venture für die Teilnahme Filipino Incentive Allowance (FPIA) qualifiziert. Durch eine 30%-Farm-out zu MORE wird das GU 7,5% aller Bruttoeinnahmen erhalten, vor dem Austausch von Einnahmen mit der Regierung.
Am 15. Februar 2010, wurde der Vertrag in 101 GSEC SC72 umgewandelt. Das Unternehmen beabsichtigt, die sofortige Beurteilung der Arbeit auf dem Feld.
Die wichtigsten Bestimmungen des SC72 Vertrag sind wie folgt:
路 Der neue Vertrag umfasst eine Fläche von 8800 km ², was 85% des ursprünglichen GSEC 101 Block.
路 Die erste Exploration Zeitraum hat eine Laufzeit von sieben Jahren und ist in vier Sub-Phasen unterteilt.
路 Im Rahmen des ersten Sub-Phase ist die Gesellschaft verpflichtet, diese Leistung nicht binnen ein
18-Monats-Zeitraum eine der folgenden: (a) Bohren einer explorativen gut, oder (b) Erwerb von mindestens 250 km ² der seismischen 3D-Daten oder den Gegenwert hochauflösende 2D-seismischen Daten.
路 Der vereinbarte Mindestmaß an finanzieller Aufwand für diese Sub-Phase beträgt US $ 3 Millionen.
路 Weitere Bohrungen und / oder seismische Arbeiten in der zweiten Sub-Phase, die eine Laufzeit von 24 Monaten.
路 Im Falle einer Entdeckung, die Unternehmen nach eigenem Ermessen kann die Produktionszeit der Service-Vertrag geben, die eine 25-jährige Laufzeit haben wird.
Das Unternehmen wird weitere Einzelheiten der Ankündigung der geplanten Arbeitsprogramm über SC72 zu gegebener Zeit. Es ist die Absicht des Unternehmens, vorbehaltlich der Finanzierung, die Ausgaben deutlich über die Mindestanforderungen Arbeitsprogramm Anforderungen zu begehen.
Galoc
Die Produktion aus der Galoc Bereich bei 2,5 Millionen Barrel brutto im Jahr 2009 und wird voraussichtlich bei 2,3 Millionen Barrel brutto im Jahr 2010 zu stabilisieren. Forum Energy hat einen 2,27%-Beteiligung an dem Feld und erhielt US $ 0,8 Mio. aus rohem Verkäufe aus der im Jahr 2009. Die Direktoren erwarten, dass dies im Jahr 2010 deutlich erhöhen nach Abschluss einer erweiterten Produktions-Testphase und das Gesamtjahr Wirkung einer 80% igen Anstieg der Ölpreise im Jahr 2009. Eine zweite Phase der Entwicklung, die wesentlichen auf den Kopf stellen würde, wird sich in diesem Jahr vorankommen und Forum Energie ist die Unterstützung dieses zusätzlichen Entwicklung verpflichtet.
SC40
Der Gas-Kaufvertrag mit DESCO, ein gut etabliertes Unternehmen Bohrungen auf den Philippinen, wurde von der Abteilung für Energie im Juli 2009 genehmigt und der Produktion von der Libertad Feld ist voraussichtlich im September 2010 beginnen. Darüber hinaus sind weitere Ventures in dieser bedeutenden Fläche zu produzieren sind im Gange und das Unternehmen hat mit einer land-based Schwerkraft Übersicht über die Central Maya Bulge (CMB) Gebiet im Norden der Konzession, um mögliche zusätzliche fräsgeräten bearbeiten Perspektiven zu identifizieren. Die Firma Hycalog Bohranlage ist auch in der CMB gelegen und kann für weitere Bohrungen Aktivitäten in Abhängigkeit von den Ergebnissen der laufenden Explorations-Programm des Unternehmens genutzt werden. Wir freuen uns auf eine weitere Ankündigungen auf dieser zu gegebener Zeit.
Kohle
Wir haben unser Programm zur Rationalisierung unseres Portfolios bis auf unsere Kern-Energie-Anlagen durch den Verkauf von Cebu Forum Coal Corporation, die die Kohle COC131 Vertrag über den Betrieb, unsere letzte Kohle Asset hält. Dies führte zu einem Brutto-Cash-Eingang 1 Mio. US $.
Finanziellen Ergebnisse und Kennzahlen wurden
Der Umsatz stieg 153% von US $ 0,7 Mio. in 2008 auf US $ 1,8 Millionen im Jahr 2009 aufgrund der vollen Produktionsjahr für das Forum Energie am Galoc und eine 80% ige Erhöhung der Ölpreise im Jahr 2009. Als Ergebnis verzeichnete Forum Energie ein Bruttoergebnis von EUR 0,2 Mio. für das Geschäftsjahr zum 31. Dezember 2009 verglichen mit einem Verlust von US $ 0,3 Millionen im Vorjahr. Der Vorstand erwartet einen weiteren Anstieg der Einnahmen im Jahr 2010 nach Abschluss eines erweiterten Produktions-Testphase an Galoc Laufe des Jahres 2009 und einen stabilen Ausblick für die Ölpreise. Der Verwaltungsrat wird sich weiterhin um die Umsätze für die Gruppe zu maximieren.
Insgesamt Verwaltungsaufwendungen sanken um 41% auf US $ 2,6 Millionen im Jahr 2009, verglichen mit USD 4,4 Mio. im Vorjahr. Der Rückgang war vor allem auf die direkten Kosten in Bezug auf das Pflichtangebot im Jahr 2008 und Veränderungen in Schlüsselpositionen des Managements. Der Vorstand wird auch weiterhin die Kosten der Gruppe zu überwachen, um sicherzustellen, Preis-Leistungsverhältnis ist immer für Dienstleistungen der Gruppe beantragt und erhalten.
Finanzielle Erträge und Aufwendungen verzeichnete einen Nettoverlust von US $ 0,1 Millionen im Vergleich zu einem Nettogewinn von US $ 0,3 Millionen im Vorjahr aufgrund der nicht realisierten Verluste auf Philippinen Peso Basis-bis langfristig zu zahlen.
Es gibt Steuerertrag in Höhe von US $ 0,1 Millionen im Vergleich zu einer Gebühr von US $ 0,07 Mio. im Jahr 2008 durch eine Senkung des potenziellen latenten der Gruppe Steuern. Der Verlust aus fortgeführten Geschäftsbereichen daher um 46% auf US $ 2,4 Mio. reduziert von US $ 4,4 milllion im Jahr 2008. Der Verlust aus der Veräußerung von nicht fortgeführten Aktivitäten von US $ 1,3 Mio. (2008: null) erhöhte sich der Gesamtverlust auf US $ 3,7 Mio. (2008: US $ 4,3 Mio.).
So entstand ein Verlust pro Aktie von US $ 0,119 (2008: US $ 0,152), die US-Dollar reduziert 0,075 (2008: US $ 0,155) mit Ausnahme von nicht fortgeführten Aktivitäten.
Cash Flow und Investitionen
Der Periodenfehlbetrag des Unternehmens liquiden Mittel erhöhte sich auf US $ 4,1 Millionen. Dies ist vor allem auf US $ 2,4 Millionen Frage der Gerechtigkeit im Laufe des Jahres, den Verkauf von Cebu Forum Coal Corporation "für US $ 1 Million, höheres Einkommen und niedrigere Kosten.
Wie bereits erwähnt, im Anschluss an die Verleihung des SC72 (früher GSEC 101) hat der Konzern einen Teil der Aktien der Lizenz von US $ 3 Millionen. Die Direktoren davon aus, dass durch die bestehende Farm-Out-Vereinbarungen mit mehr und von der Verfügbarkeit der bestehenden Working Capital wird die Gruppe in der Lage, die Anforderungen an seine Verpflichtung in dieser Hinsicht gerecht zu werden. Weitere Mitteilungen werden über die erwartete Arbeitsprogramm für die Lizenz-Bereich und seine künftige Finanzierung Vorschläge zu gegebener Zeit erfolgen.
Bilanz und Finanzierung
Der Konzern hat keine langfristigen Schulden, mit Ausnahme der Verbindlichkeit ist zu Forum Exploration Inc (FEI), die ausgeschüttet werden, als würde und dann erfasst, wenn die Kosten für die Einziehung von den erwarteten Produktion bei SC40.
Die Anteile anderer Gesellschafter stellt die Minderheitsgesellschafter der FEI (33,33%) und spiegelt seine Netto-Anteil an der ausgewiesenen Verluste oder Gewinne für das Jahr.
Outlook
Wir glauben, Forum Energie ist sehr gut aufgestellt, um umfassend zu nutzen, SC72 mit der Unterstützung ihrer Hauptaktionäre zu nehmen. Das Unternehmen hat jetzt die Möglichkeit, uns mit der Entwicklung des potenziell erstklassigen Gas Entdeckung SC72 bewegen und in die Beurteilung einbezogen zu bewegen. Wir glauben, dass dieses Material Wert für unsere Aktionäre schaffen wird, und wir freuen uns auf die Freisetzung von mehr Einzelheiten zu gegebener Zeit.
Zusammenfassung
Wir nehmen diese Gelegenheit, unsere Aktionäre, unserer Mitarbeiter und der Vorstand danken, Mitarbeiter und Berater für ihre wertvolle Unterstützung in unseren Bemühungen, den Wert Ihrer Investitionen in den Unternehmen beitragen.
Walter W. Brown
Testierten Ergebnisse für das Geschäftsjahr zum 31. Dezember 2009
Forum Energy, dem Vereinigten Königreich übernommen Öl-und Gas-Explorations-und Produktionsunternehmen mit Schwerpunkt auf den Philippinen, gibt heute seine geprüften Ergebnisse für das Geschäftsjahr zum 31. Dezember 2009.
OPERATIVE HIGHLIGHTS
路 Company-Wechsel der Entwicklung über die Vergabe von Service-Vertrag 72 (SC 72) über die GSEC101 Lizenzgebiet am 15. Februar 2010;
路 Galoc Produktion von 2,5 Millionen Barrel brutto im Jahr 2009, voraussichtlich um 2,3 Millionen Barrel brutto im Jahr 2010 zu stabilisieren; Forum Energy hat einen 2,27%-Beteiligung im Bereich;
路 Vervollständigung der Rationalisierung von nicht zum Kerngeschäft Kohle Vermögenswerte durch den Verkauf von Cebu Forum Coal Corporation "für US $ 1 Million in bar;
路 Department of Energy Genehmigung des Verkaufs-und Gas Purchase Agreement (GSPA) über die Entwicklung der Libertad Gasfeld in Cebu und
路 Fortsetzung Programm zur Überprüfung mehrere nationale und internationale Chancen.
Finanz-und Unternehmenskommunikation HIGHLIGHTS
路 Netto-Cash-Mittel in Höhe von US $ 4.1Mio zum 31. Dezember 2009 (2008: US $ 2,6 Mio.);
路 Eigenkapital von US $ 44 Millionen zum 31. Dezember 2009 (2008: US $ 45 Mio.);
路 Umsatz von US $ 1,8 Mio. in 2009 (2008: US $ 0,7 Mio.) und
路 Fixed Overhead-Kosten um 41% im Jahr 2009 reduziert im Vergleich zu 2008.
Wasser Brown, Chief Executive Officer, kommentierte:
"Forum Energie ist sehr gut aufgestellt, um den vollen Vorteil der SC72 Asset nehmen. Forum hat nun die Möglichkeit, uns mit der Entwicklung des potenziell erstklassigen Gas Entdeckung SC72 bewegen und in die Beurteilung einbezogen zu bewegen. Wir glauben, dass dies Material zu schaffen Mehrwert für unsere Aktionäre, und wir freuen uns auf die Freisetzung von mehr spezifische Details in Kürze. "
Die technischen Informationen in dieser Mitteilung wurden geprüft und genehmigt durch Graf Geophysics Limited und Oilfield Produktion Consultants (OPC) Limited, beide unabhängigen Beratungsunternehmen, die die Auslegung von 3D-und 2D der Firma seismischen Programmen durchgeführt.
Für weitere Informationen kontaktieren Sie bitte:
Forum Energy Plc
Andrew Mullins, Executive Director Tel: +44 (0) 1932 445 344
Execution Noble & Company Limited
Harry Stockdale / John Llewellyn-Lloyd Tel: +44 (0) 20 7456 9191
Pelham Bell Pottinger
Nick Lambert / Henry Lerwill Tel: +44 (0) 20 7337 1500
Oder besuchen Sie die Website des Unternehmens:
www.forumenergyplc.com
Überblick
Zu den wichtigsten Vermögenswert ist eine 70%-Anteil an Service-Vertrag 72 (SC72), früher GSEC101, ein 8800 Quadratkilometer große Offshore-Erdöl-Lizenz befindet sich westlich von der Insel Palawan im Südchinesischen Meer.
Im Jahr 2006 deuten die Ergebnisse von einem 248-Quadratkilometer 3D-Seismik-Untersuchung über die Lizenz Bereich Mittel 3,4 Billionen Kubikfuß (TCF) Gas-in-Place (GIP) mit erheblichem Wachstumspotential.
Im Jahr 2008, Philex Mining Corporation, einer Firma, die Philippine Stock Exchange gelistet ist, erwarb eine wirksame Kontrolle 61,44% beteiligt ist (direkt und indirekt gehaltenen) in der Gesellschaft durch ein Übernahmeangebot für alle Aktien zu 48 Pence pro Aktie. Eine weitere Spendenaktion im November 2009 von 拢 1,5 Millionen (ca. US $ 2,4 Mio.) bei 50p hat dem Spiel Philex Mining Corporation erhöht (direkt und indirekt gehaltenen) auf 62,59%.
Am 15. Februar 2010, wurde GSEC101 umgewandelt SC72 von den philippinischen Department of Energy.
CHIEF EXECUTIVE'S STATEMENT
Forum Energy hat bedeutende Fortschritte bei der bisherigen Vergabe von SC 72 aus (früher GSEC101). Nach über drei Jahren über die Umwandlung des GSEC101 zu einem Service-Vertrag gearbeitet, diese Auszeichnung ebnet den Weg für die Lieferung von Material Wert für die Aktionäre Forum Energy mit der Ausbeutung der einen potenziell erstklassigen Gas zu hinterlegen. Forum wird seine Zukunft bekannt geben Pläne für weitere Beurteilung der SC72 in Kürze. Es ist die Firma Absicht zur weiteren Beurteilung der Arbeit beginnen, ohne Verzögerung.
Im Jahr 2009 verzeichnete Forum Energie ein Bruttoergebnis von EUR 0,2 Mio. im Geschäftsjahr
31. Dezember 2009 verglichen mit einem Verlust von US $ 0,3 Millionen für das Vorjahr durch die Aufnahme der Produktion Einnahmen aus Galoc und der Anstieg der Ölpreise im Jahr 2009. Der Umsatz stieg um 153% auf US $ 1,8 Millionen, G & A-Kosten um 41% auf US $ 2,6 Mio. reduziert und der Netto-Zahlungsmittel und Zahlungsmitteläquivalente erhöhte sich auf US $ 4,1 Millionen. Das Unternehmen abgeschlossen Straffung der nicht zum Kerngeschäft gehörenden Vermögenswerte Kohle erfolgreich durch den Verkauf des letzten Kohle-Konzession.
SC72 (früher GSEC101)
Der SC72 Lizenz umfasst eine Fläche von 8800 qkm und wurde früher als GCEC 101 bezeichnet.
Ergebnisse von der Firma 3D-Seismik-Programm und seine Interpretation von unabhängigen Beratern durchgeführt, Graf Geophysics Limited und Oilfield Produktion Consultants (OPC) Limited, im Jahr 2006 bestätigt, dass eine mittlere Höhe von 3,4 TCF Gas in Place (GIP). Eine erweiterte GIP Schätzung der volumetrische Analyse, die von Graf Geophysics Limited und Oilfield Produktion Consultants (OPC) Limited ist unten aufgeführt. Es sei darauf hingewiesen, dass die 5%-Fall, der Analyse der seismischen 2D-Daten auch verwendet wurde.
Reservoir Abschnitt GIP (TCF)
Alttertiär
Untersten bekannten Gas bei S-2 3,41
Most Likely Bereich (115 km2) Mittelwert
Max. Schließung, 5% ergibt (290 km2) 9,74
Kreide
Most Likely Bereich (115 km2) 4,39
Bedeuten
Max. Schließung, 5% ergibt (257 km2) 9,83
Diese volumetrische Analyse unterstützt das Unternehmen die Auffassung, dass es das Potenzial für signifikante den Kopf in den SC72 Lizenzgebiet, sowohl innerhalb der frühen Tertiär und Kreide Zonen.
Im Jahr 2008 (ein Joint Venture "JV") wurde mit dem Monte Oro Ressourcen und Energie gebildet, Inc. (MORE), die das Joint Venture für die Teilnahme Filipino Incentive Allowance (FPIA) qualifiziert. Durch eine 30%-Farm-out zu MORE wird das GU 7,5% aller Bruttoeinnahmen erhalten, vor dem Austausch von Einnahmen mit der Regierung.
Am 15. Februar 2010, wurde der Vertrag in 101 GSEC SC72 umgewandelt. Das Unternehmen beabsichtigt, die sofortige Beurteilung der Arbeit auf dem Feld.
Die wichtigsten Bestimmungen des SC72 Vertrag sind wie folgt:
路 Der neue Vertrag umfasst eine Fläche von 8800 km ², was 85% des ursprünglichen GSEC 101 Block.
路 Die erste Exploration Zeitraum hat eine Laufzeit von sieben Jahren und ist in vier Sub-Phasen unterteilt.
路 Im Rahmen des ersten Sub-Phase ist die Gesellschaft verpflichtet, diese Leistung nicht binnen ein
18-Monats-Zeitraum eine der folgenden: (a) Bohren einer explorativen gut, oder (b) Erwerb von mindestens 250 km ² der seismischen 3D-Daten oder den Gegenwert hochauflösende 2D-seismischen Daten.
路 Der vereinbarte Mindestmaß an finanzieller Aufwand für diese Sub-Phase beträgt US $ 3 Millionen.
路 Weitere Bohrungen und / oder seismische Arbeiten in der zweiten Sub-Phase, die eine Laufzeit von 24 Monaten.
路 Im Falle einer Entdeckung, die Unternehmen nach eigenem Ermessen kann die Produktionszeit der Service-Vertrag geben, die eine 25-jährige Laufzeit haben wird.
Das Unternehmen wird weitere Einzelheiten der Ankündigung der geplanten Arbeitsprogramm über SC72 zu gegebener Zeit. Es ist die Absicht des Unternehmens, vorbehaltlich der Finanzierung, die Ausgaben deutlich über die Mindestanforderungen Arbeitsprogramm Anforderungen zu begehen.
Galoc
Die Produktion aus der Galoc Bereich bei 2,5 Millionen Barrel brutto im Jahr 2009 und wird voraussichtlich bei 2,3 Millionen Barrel brutto im Jahr 2010 zu stabilisieren. Forum Energy hat einen 2,27%-Beteiligung an dem Feld und erhielt US $ 0,8 Mio. aus rohem Verkäufe aus der im Jahr 2009. Die Direktoren erwarten, dass dies im Jahr 2010 deutlich erhöhen nach Abschluss einer erweiterten Produktions-Testphase und das Gesamtjahr Wirkung einer 80% igen Anstieg der Ölpreise im Jahr 2009. Eine zweite Phase der Entwicklung, die wesentlichen auf den Kopf stellen würde, wird sich in diesem Jahr vorankommen und Forum Energie ist die Unterstützung dieses zusätzlichen Entwicklung verpflichtet.
SC40
Der Gas-Kaufvertrag mit DESCO, ein gut etabliertes Unternehmen Bohrungen auf den Philippinen, wurde von der Abteilung für Energie im Juli 2009 genehmigt und der Produktion von der Libertad Feld ist voraussichtlich im September 2010 beginnen. Darüber hinaus sind weitere Ventures in dieser bedeutenden Fläche zu produzieren sind im Gange und das Unternehmen hat mit einer land-based Schwerkraft Übersicht über die Central Maya Bulge (CMB) Gebiet im Norden der Konzession, um mögliche zusätzliche fräsgeräten bearbeiten Perspektiven zu identifizieren. Die Firma Hycalog Bohranlage ist auch in der CMB gelegen und kann für weitere Bohrungen Aktivitäten in Abhängigkeit von den Ergebnissen der laufenden Explorations-Programm des Unternehmens genutzt werden. Wir freuen uns auf eine weitere Ankündigungen auf dieser zu gegebener Zeit.
Kohle
Wir haben unser Programm zur Rationalisierung unseres Portfolios bis auf unsere Kern-Energie-Anlagen durch den Verkauf von Cebu Forum Coal Corporation, die die Kohle COC131 Vertrag über den Betrieb, unsere letzte Kohle Asset hält. Dies führte zu einem Brutto-Cash-Eingang 1 Mio. US $.
Finanziellen Ergebnisse und Kennzahlen wurden
Der Umsatz stieg 153% von US $ 0,7 Mio. in 2008 auf US $ 1,8 Millionen im Jahr 2009 aufgrund der vollen Produktionsjahr für das Forum Energie am Galoc und eine 80% ige Erhöhung der Ölpreise im Jahr 2009. Als Ergebnis verzeichnete Forum Energie ein Bruttoergebnis von EUR 0,2 Mio. für das Geschäftsjahr zum 31. Dezember 2009 verglichen mit einem Verlust von US $ 0,3 Millionen im Vorjahr. Der Vorstand erwartet einen weiteren Anstieg der Einnahmen im Jahr 2010 nach Abschluss eines erweiterten Produktions-Testphase an Galoc Laufe des Jahres 2009 und einen stabilen Ausblick für die Ölpreise. Der Verwaltungsrat wird sich weiterhin um die Umsätze für die Gruppe zu maximieren.
Insgesamt Verwaltungsaufwendungen sanken um 41% auf US $ 2,6 Millionen im Jahr 2009, verglichen mit USD 4,4 Mio. im Vorjahr. Der Rückgang war vor allem auf die direkten Kosten in Bezug auf das Pflichtangebot im Jahr 2008 und Veränderungen in Schlüsselpositionen des Managements. Der Vorstand wird auch weiterhin die Kosten der Gruppe zu überwachen, um sicherzustellen, Preis-Leistungsverhältnis ist immer für Dienstleistungen der Gruppe beantragt und erhalten.
Finanzielle Erträge und Aufwendungen verzeichnete einen Nettoverlust von US $ 0,1 Millionen im Vergleich zu einem Nettogewinn von US $ 0,3 Millionen im Vorjahr aufgrund der nicht realisierten Verluste auf Philippinen Peso Basis-bis langfristig zu zahlen.
Es gibt Steuerertrag in Höhe von US $ 0,1 Millionen im Vergleich zu einer Gebühr von US $ 0,07 Mio. im Jahr 2008 durch eine Senkung des potenziellen latenten der Gruppe Steuern. Der Verlust aus fortgeführten Geschäftsbereichen daher um 46% auf US $ 2,4 Mio. reduziert von US $ 4,4 milllion im Jahr 2008. Der Verlust aus der Veräußerung von nicht fortgeführten Aktivitäten von US $ 1,3 Mio. (2008: null) erhöhte sich der Gesamtverlust auf US $ 3,7 Mio. (2008: US $ 4,3 Mio.).
So entstand ein Verlust pro Aktie von US $ 0,119 (2008: US $ 0,152), die US-Dollar reduziert 0,075 (2008: US $ 0,155) mit Ausnahme von nicht fortgeführten Aktivitäten.
Cash Flow und Investitionen
Der Periodenfehlbetrag des Unternehmens liquiden Mittel erhöhte sich auf US $ 4,1 Millionen. Dies ist vor allem auf US $ 2,4 Millionen Frage der Gerechtigkeit im Laufe des Jahres, den Verkauf von Cebu Forum Coal Corporation "für US $ 1 Million, höheres Einkommen und niedrigere Kosten.
Wie bereits erwähnt, im Anschluss an die Verleihung des SC72 (früher GSEC 101) hat der Konzern einen Teil der Aktien der Lizenz von US $ 3 Millionen. Die Direktoren davon aus, dass durch die bestehende Farm-Out-Vereinbarungen mit mehr und von der Verfügbarkeit der bestehenden Working Capital wird die Gruppe in der Lage, die Anforderungen an seine Verpflichtung in dieser Hinsicht gerecht zu werden. Weitere Mitteilungen werden über die erwartete Arbeitsprogramm für die Lizenz-Bereich und seine künftige Finanzierung Vorschläge zu gegebener Zeit erfolgen.
Bilanz und Finanzierung
Der Konzern hat keine langfristigen Schulden, mit Ausnahme der Verbindlichkeit ist zu Forum Exploration Inc (FEI), die ausgeschüttet werden, als würde und dann erfasst, wenn die Kosten für die Einziehung von den erwarteten Produktion bei SC40.
Die Anteile anderer Gesellschafter stellt die Minderheitsgesellschafter der FEI (33,33%) und spiegelt seine Netto-Anteil an der ausgewiesenen Verluste oder Gewinne für das Jahr.
Outlook
Wir glauben, Forum Energie ist sehr gut aufgestellt, um umfassend zu nutzen, SC72 mit der Unterstützung ihrer Hauptaktionäre zu nehmen. Das Unternehmen hat jetzt die Möglichkeit, uns mit der Entwicklung des potenziell erstklassigen Gas Entdeckung SC72 bewegen und in die Beurteilung einbezogen zu bewegen. Wir glauben, dass dieses Material Wert für unsere Aktionäre schaffen wird, und wir freuen uns auf die Freisetzung von mehr Einzelheiten zu gegebener Zeit.
Zusammenfassung
Wir nehmen diese Gelegenheit, unsere Aktionäre, unserer Mitarbeiter und der Vorstand danken, Mitarbeiter und Berater für ihre wertvolle Unterstützung in unseren Bemühungen, den Wert Ihrer Investitionen in den Unternehmen beitragen.
Walter W. Brown
Philex raises stake in Forum Energy to 65%
By Amy R. Remo
Philippine Daily Inquirer
First Posted 19:48:00 02/24/2010
Filed Under: Energy, Mining and quarrying, Economy and Business and Finance
PHILEX MINING CORP. on Wednesday said it has raised its stake in UK-based Forum Energy Plc to 65 percent after the latter obtained the license to drill in an offshore Palawan gas field.
In a disclosure to the Philippine Stock Exchange, Philex Mining president J. Ernesto C. Villaluna said the company’s wholly owned subsidiary, Philex Petroleum Corp., purchased an additional 2.4-percent interest in Forum Energy.
Forum Energy now holds the license for Service Contract 72, which covers 880,000 hectares within the Reed Bank basin—at least 150 kilometers east of the Spratlys and close to the main island of Palawan.
SC 72 also covers the Sampaguita oil and gas field discovery, which was estimated to contain as much as 3.4 trillion cubic feet of gas.
Forum Energy had said that it intended to push forward with the appraisal of the gas field to commercial viability. Given the potential size of the resource and proximity to the Asian markets, the project is said to be an ideal candidate for an LNG (liquefied natural gas) facility, the UK-based firm added.
Philex Mining had subscribed to 1.2 billion new shares of Philex Petroleum coming from the increase in the authorized capital stock of the oil and gas unit to P6.8 billion from P2 billion.
“The proceeds of the subscription will enable Philex Petroleum to acquire oil and petroleum assets as well as support ongoing projects like the drilling of the gas field in Palawan,” Villaluna had said.
Philex Petroleum also owns 5.3 percent of Pitkin Petroleum Ltd., an international upstream oil and gas company focused on the Pacific Rim region. It has operations in Vietnam, the Philippines, Peru and the United States.
The subsidiary had earlier acquired 21 percent of PetroEnergy Resources Corp., a local company listed on the PSE engaged in oil exploration and in providing technical services to companies exploring for oil in the Philippines.
Philex Petroleum also has direct stakes in SC 41 in the deep waters of South Sulu Sea, for which recoverable reserves estimate prior to drilling was reported to be at a maximum of 150 million barrels; SC 6 or the Cadlao Block-NW Palawan, which is expected to have between 1 million to 1.5 million barrels of oil, and SC 6A or the Octon Block-NW Palawan, which is being linked to the Galoc field.
http://business.inquirer.net/money/topstories/view/20100224-…
By Amy R. Remo
Philippine Daily Inquirer
First Posted 19:48:00 02/24/2010
Filed Under: Energy, Mining and quarrying, Economy and Business and Finance
PHILEX MINING CORP. on Wednesday said it has raised its stake in UK-based Forum Energy Plc to 65 percent after the latter obtained the license to drill in an offshore Palawan gas field.
In a disclosure to the Philippine Stock Exchange, Philex Mining president J. Ernesto C. Villaluna said the company’s wholly owned subsidiary, Philex Petroleum Corp., purchased an additional 2.4-percent interest in Forum Energy.
Forum Energy now holds the license for Service Contract 72, which covers 880,000 hectares within the Reed Bank basin—at least 150 kilometers east of the Spratlys and close to the main island of Palawan.
SC 72 also covers the Sampaguita oil and gas field discovery, which was estimated to contain as much as 3.4 trillion cubic feet of gas.
Forum Energy had said that it intended to push forward with the appraisal of the gas field to commercial viability. Given the potential size of the resource and proximity to the Asian markets, the project is said to be an ideal candidate for an LNG (liquefied natural gas) facility, the UK-based firm added.
Philex Mining had subscribed to 1.2 billion new shares of Philex Petroleum coming from the increase in the authorized capital stock of the oil and gas unit to P6.8 billion from P2 billion.
“The proceeds of the subscription will enable Philex Petroleum to acquire oil and petroleum assets as well as support ongoing projects like the drilling of the gas field in Palawan,” Villaluna had said.
Philex Petroleum also owns 5.3 percent of Pitkin Petroleum Ltd., an international upstream oil and gas company focused on the Pacific Rim region. It has operations in Vietnam, the Philippines, Peru and the United States.
The subsidiary had earlier acquired 21 percent of PetroEnergy Resources Corp., a local company listed on the PSE engaged in oil exploration and in providing technical services to companies exploring for oil in the Philippines.
Philex Petroleum also has direct stakes in SC 41 in the deep waters of South Sulu Sea, for which recoverable reserves estimate prior to drilling was reported to be at a maximum of 150 million barrels; SC 6 or the Cadlao Block-NW Palawan, which is expected to have between 1 million to 1.5 million barrels of oil, and SC 6A or the Octon Block-NW Palawan, which is being linked to the Galoc field.
http://business.inquirer.net/money/topstories/view/20100224-…
Philex Mining hikes stake in Sampaguita gas field
By JAMES A. LOYOLA
February 24, 2010, 6:06pm
Philex Petroleum Corporation (PPC), the wholly-owned oil and gas unit of Philex Mining Corporation, has purchased an additional 2.4 percent interest in Forum Energy Plc. (FEP), raising the Philex Group’s stake to 65 percent.
In a disclosure to the Philippine Stock Exchange (PSE) Wednesday, Philex Mining president J. Ernesto C. Villaluna said that PPC holds 39 percent of FEP while the other 26 percent is held through FEC Resources, Inc., a 51 percent-owned Canadian subsidiary of Philex Mining.
FEP is a UK-based oil and gas exploration company which recently announced the approval of the conversion of its covering Geophysical Survey and Exploration Contract (GSEC) 101 to a Service Contract (SC) 72 by the Department of Energy.
The SC 72 license covers an area of 8,800 square kilometers known as the Sampaguita gas field offshore West Palawan. FEP holds 70 percent of SC 72 through a wholly-owned Jersey company, Forum (GSEC 101) Limited.
Philex Mining has subscribed to 1.2 billion new shares of PPC coming from the increase in the authorized capital stock of PPC from P2 billion to P6.8 billion.
“The proceeds of the subscription will enable PPC to acquire oil and petroleum assets as well as support ongoing projects like the drilling of the gas field in Palawan,” Villaluna said.
The Reed Bank Basin measures about 71,000 square kilometers and is located about 250 kilometers west of Palawan.
In 2006, results from a 248-square kilometer 3D seismic survey over the licence area confirmed a minimum of 3.4 trillion cubic feet of proven gas in place with significant upside potential.
Forum intends to push forward with the appraisal of this gas field to commerciality and ultimately to the delivery of material value to its shareholders.
Given the potential size of the resource and proximity to the Asian markets, Forum Energy said this project is an ideal candidate for a liquefied natural gas facility.
PPC also owns 5.3 percent of Pitkin Petroleum Ltd. (Pitkin), an international upstream oil and gas company focused on Tertiary basis primarily in the Pacific Rim Region, with operations in Vietnam, the Philippines, Peru and the USA.
The investment in Pitkin brought the Philex Group’s total investment to 21 percent taken together with the holdings of Philex Mining.
PPC also acquired 21 percent of PetroEnergy Resources Corporation, a local company listed in the Philippine Stock Exchange engaged in oil exploration and in providing technical services to companies exploring for oil in the Philippines.
Aside from PPC and Pitkin, Philex Mining also has investments in Brixton Energy & Mining Corporation (BEMC) which is allowed to extract coal from a 2,000 hectare property in Zamboanga Sibugay.
PPC also has direct stakes in SC-41, Deepwater South Sulu Sea, for which recoverable reserves estimate prior to drilling was reported to be at a maximum of 150 million barrels; SC-6, Cadlao Block-NW Palawan, which is expected to recover between 1.0-1.5 million barrels of oil; and SC-6A, Octon Block-NW Palawan, which is being linked with the Galoc field.
By JAMES A. LOYOLA
February 24, 2010, 6:06pm
Philex Petroleum Corporation (PPC), the wholly-owned oil and gas unit of Philex Mining Corporation, has purchased an additional 2.4 percent interest in Forum Energy Plc. (FEP), raising the Philex Group’s stake to 65 percent.
In a disclosure to the Philippine Stock Exchange (PSE) Wednesday, Philex Mining president J. Ernesto C. Villaluna said that PPC holds 39 percent of FEP while the other 26 percent is held through FEC Resources, Inc., a 51 percent-owned Canadian subsidiary of Philex Mining.
FEP is a UK-based oil and gas exploration company which recently announced the approval of the conversion of its covering Geophysical Survey and Exploration Contract (GSEC) 101 to a Service Contract (SC) 72 by the Department of Energy.
The SC 72 license covers an area of 8,800 square kilometers known as the Sampaguita gas field offshore West Palawan. FEP holds 70 percent of SC 72 through a wholly-owned Jersey company, Forum (GSEC 101) Limited.
Philex Mining has subscribed to 1.2 billion new shares of PPC coming from the increase in the authorized capital stock of PPC from P2 billion to P6.8 billion.
“The proceeds of the subscription will enable PPC to acquire oil and petroleum assets as well as support ongoing projects like the drilling of the gas field in Palawan,” Villaluna said.
The Reed Bank Basin measures about 71,000 square kilometers and is located about 250 kilometers west of Palawan.
In 2006, results from a 248-square kilometer 3D seismic survey over the licence area confirmed a minimum of 3.4 trillion cubic feet of proven gas in place with significant upside potential.
Forum intends to push forward with the appraisal of this gas field to commerciality and ultimately to the delivery of material value to its shareholders.
Given the potential size of the resource and proximity to the Asian markets, Forum Energy said this project is an ideal candidate for a liquefied natural gas facility.
PPC also owns 5.3 percent of Pitkin Petroleum Ltd. (Pitkin), an international upstream oil and gas company focused on Tertiary basis primarily in the Pacific Rim Region, with operations in Vietnam, the Philippines, Peru and the USA.
The investment in Pitkin brought the Philex Group’s total investment to 21 percent taken together with the holdings of Philex Mining.
PPC also acquired 21 percent of PetroEnergy Resources Corporation, a local company listed in the Philippine Stock Exchange engaged in oil exploration and in providing technical services to companies exploring for oil in the Philippines.
Aside from PPC and Pitkin, Philex Mining also has investments in Brixton Energy & Mining Corporation (BEMC) which is allowed to extract coal from a 2,000 hectare property in Zamboanga Sibugay.
PPC also has direct stakes in SC-41, Deepwater South Sulu Sea, for which recoverable reserves estimate prior to drilling was reported to be at a maximum of 150 million barrels; SC-6, Cadlao Block-NW Palawan, which is expected to recover between 1.0-1.5 million barrels of oil; and SC-6A, Octon Block-NW Palawan, which is being linked with the Galoc field.
wie ich es sehe, wird philex das selber über die bühne bringen und somit auch FEC RESOURCES mehr profitieren
Antwort auf Beitrag Nr.: 39.007.325 von hainholz am 25.02.10 04:48:30
Philex Mining now controls 65% in UK-based Forum Energy Plc.
February 25, 2010 12:50 am
MANILA, Feb. 24 — Philex Petroleum Corporation (PPC), the wholly-owned oil and gas unit of Philex Mining Corporation, has purchased an additional 2.4 percent interest in Forum Energy Plc (FEP), raising the Philex Group’s stake to 65 percent.
Philex Mining president J. Ernesto C. Villaluna said decision to increase their stake to 65 percent is basically premised on the recent ruling of the Department of Energy, converting the Geophysical Survey and Exploration Contract (GSEC) 101 to a Service Contract (SC) 72 last week.
PPC holds 39 percent of FEP while the other 26 percent is held through FEC Resources, Inc., a 51 percent Canadian-owned subsidiary of Philex Mining.
The SC 72 license covers an area of 8,800 square kilometers, known as the Sampaguita gas field offshore West Palawan. FEP holds 70 percent of SC 72 through a wholly- owned Jersey company, Forum (GSEC 101) Limited.
Philex Mining had earlier subscribed to 1.2 billion new shares of PPC coming from the increase in the authorized capital stock of PPC from P2 billion to P6.8 billion.
“The proceeds of the subscription will enable PPC to acquire oil and petroleum assets as well as support ongoing projects like the drilling of the gas field in Palawan,” Villaluna said.
The Reed Bank Basin measures about 71,000 square kilometers and is located about 250 kilometers west of Palawan.
In 2006, results from a 248 square-kilometer 3D seismic survey over the licensed area confirmed a minimum of 3.4 trillion cubic feet of proven gas in place with significant upside potential.
Forum Energy intends to push forward with the appraisal of this gas field to commerciality and ultimately to the delivery of material value to its shareholders.
Forum Energy also noted that this project is an ideal candidate for a liquefied natural gas facility, considering the potential size of the resource and proximity to the Asian markets.
Philex Petroleum also owns 5.3 percent of Pitkin Petroleum Ltd (Pitkin), an international upstream oil and gas company focused on Tertiary basis primarily in the Pacific Rim Region, with operations in Vietnam, the Philippines, Peru and the U.S.A.
The investment in Pitkin brought the Philex Group’s total investment to 21 percent taken together with the holdings of Philex Mining.
PPC also acquired 21 percent of PetroEnergy Resources Corporation, a local company listed in the Philippine Stock Exchange engaged in oil exploration and in providing technical services to companies exploring for oil in the Philippines.
Aside from PPC and Pitkin, Philex Mining also has investments in Brixton Energy & Mining Corporation (BEMC) which is allowed to extract coal from a 2,000-hectare property in Zamboanga Sibugay.
PPC also has direct stakes in SC-41, Deepwater South Sulu Sea, for which recoverable reserves estimate prior to drilling was reported to be at a maximum of 150 million barrels; SC-6, Cadlao Block-NW Palawan, which is expected to recover between 1.0-1.5 million barrels of oil; and SC-6A, Octon Block-NW Palawan, which is being linked with the Galoc field. (PNA)
Philex Mining now controls 65% in UK-based Forum Energy Plc.
February 25, 2010 12:50 am
MANILA, Feb. 24 — Philex Petroleum Corporation (PPC), the wholly-owned oil and gas unit of Philex Mining Corporation, has purchased an additional 2.4 percent interest in Forum Energy Plc (FEP), raising the Philex Group’s stake to 65 percent.
Philex Mining president J. Ernesto C. Villaluna said decision to increase their stake to 65 percent is basically premised on the recent ruling of the Department of Energy, converting the Geophysical Survey and Exploration Contract (GSEC) 101 to a Service Contract (SC) 72 last week.
PPC holds 39 percent of FEP while the other 26 percent is held through FEC Resources, Inc., a 51 percent Canadian-owned subsidiary of Philex Mining.
The SC 72 license covers an area of 8,800 square kilometers, known as the Sampaguita gas field offshore West Palawan. FEP holds 70 percent of SC 72 through a wholly- owned Jersey company, Forum (GSEC 101) Limited.
Philex Mining had earlier subscribed to 1.2 billion new shares of PPC coming from the increase in the authorized capital stock of PPC from P2 billion to P6.8 billion.
“The proceeds of the subscription will enable PPC to acquire oil and petroleum assets as well as support ongoing projects like the drilling of the gas field in Palawan,” Villaluna said.
The Reed Bank Basin measures about 71,000 square kilometers and is located about 250 kilometers west of Palawan.
In 2006, results from a 248 square-kilometer 3D seismic survey over the licensed area confirmed a minimum of 3.4 trillion cubic feet of proven gas in place with significant upside potential.
Forum Energy intends to push forward with the appraisal of this gas field to commerciality and ultimately to the delivery of material value to its shareholders.
Forum Energy also noted that this project is an ideal candidate for a liquefied natural gas facility, considering the potential size of the resource and proximity to the Asian markets.
Philex Petroleum also owns 5.3 percent of Pitkin Petroleum Ltd (Pitkin), an international upstream oil and gas company focused on Tertiary basis primarily in the Pacific Rim Region, with operations in Vietnam, the Philippines, Peru and the U.S.A.
The investment in Pitkin brought the Philex Group’s total investment to 21 percent taken together with the holdings of Philex Mining.
PPC also acquired 21 percent of PetroEnergy Resources Corporation, a local company listed in the Philippine Stock Exchange engaged in oil exploration and in providing technical services to companies exploring for oil in the Philippines.
Aside from PPC and Pitkin, Philex Mining also has investments in Brixton Energy & Mining Corporation (BEMC) which is allowed to extract coal from a 2,000-hectare property in Zamboanga Sibugay.
PPC also has direct stakes in SC-41, Deepwater South Sulu Sea, for which recoverable reserves estimate prior to drilling was reported to be at a maximum of 150 million barrels; SC-6, Cadlao Block-NW Palawan, which is expected to recover between 1.0-1.5 million barrels of oil; and SC-6A, Octon Block-NW Palawan, which is being linked with the Galoc field. (PNA)
Forum Energy to spend US$ 3M for oil hunt
February 25, 2010 11:18 pm
By Marie S. Neri
MANILA, Feb. 25 — London-based Forum Energy Plc. will initially spend P140 million, or about US$ 3 million, for its exploration activities in the service contract 72.
The US$ 3 million budget will be used for the initial subphase. The contract awarded recently by the Department of Energy has a term of seven years and had been subdivided into four sub-phases.
"The agreed minimum financial expenditure for this sub-phase is $ 3 million," Forum Energy said.
The company also said that exploration and/or seismic work during the second sub-phase would have a duration of 24 months.
Should there be any discovery during the drilling and exploration they may opt to enter the production period of the contract, which will have a 25 year duration.
The company said the conversion of the geophysical survey exploration contract 101 to a service contract paved the way to the delivery of material value to Forum’s shareholders "with the exploitation of a potentially world class gas deposit."
Walter Brown, Forum Energy CEO said "Forum Energy is extremely well placed to take the fullest advantage of its SC72 asset. Forum now has the ability to move forward with the development of the potentially world class gas discovery at SC72 and to move into the appraisal process. We believe that this will create material value for our shareholders and we look forward to releasing more specific details shortly."
The SC72 licence covers an area of 8,800 square kilometer and results from the company’s 3D seismic program and its interpretation performed by independent consultants –Count Geophysics Ltd. and Oilfield Production Consultants Ltd,–confirmed a mean volume of 3.4 trillion cubic feet gas in place in 2006.
Earlier, Forum Energy issued a clarification stating that SC 72 is located in the Reed Bank basin and not part of the disputed Spratly Islands. It said the Reed Bank is at least 150 kilometers east of the Spratly Islands and is much closer to the island of Palawan.
"SC 72 is within the 200 nautical mile Exclusive Economic Zone based on Republic Act No. 9522 or the Philippine Archipelagic Baseline Law signed on March 10, 2009. RA 9522 defines the archipelagic baselines of the Philippines, while affirming Philippine sovereignty and jurisdiction over these areas which include SC 72," the company said. (PNA) RMA/MSN/utb
February 25, 2010 11:18 pm
By Marie S. Neri
MANILA, Feb. 25 — London-based Forum Energy Plc. will initially spend P140 million, or about US$ 3 million, for its exploration activities in the service contract 72.
The US$ 3 million budget will be used for the initial subphase. The contract awarded recently by the Department of Energy has a term of seven years and had been subdivided into four sub-phases.
"The agreed minimum financial expenditure for this sub-phase is $ 3 million," Forum Energy said.
The company also said that exploration and/or seismic work during the second sub-phase would have a duration of 24 months.
Should there be any discovery during the drilling and exploration they may opt to enter the production period of the contract, which will have a 25 year duration.
The company said the conversion of the geophysical survey exploration contract 101 to a service contract paved the way to the delivery of material value to Forum’s shareholders "with the exploitation of a potentially world class gas deposit."
Walter Brown, Forum Energy CEO said "Forum Energy is extremely well placed to take the fullest advantage of its SC72 asset. Forum now has the ability to move forward with the development of the potentially world class gas discovery at SC72 and to move into the appraisal process. We believe that this will create material value for our shareholders and we look forward to releasing more specific details shortly."
The SC72 licence covers an area of 8,800 square kilometer and results from the company’s 3D seismic program and its interpretation performed by independent consultants –Count Geophysics Ltd. and Oilfield Production Consultants Ltd,–confirmed a mean volume of 3.4 trillion cubic feet gas in place in 2006.
Earlier, Forum Energy issued a clarification stating that SC 72 is located in the Reed Bank basin and not part of the disputed Spratly Islands. It said the Reed Bank is at least 150 kilometers east of the Spratly Islands and is much closer to the island of Palawan.
"SC 72 is within the 200 nautical mile Exclusive Economic Zone based on Republic Act No. 9522 or the Philippine Archipelagic Baseline Law signed on March 10, 2009. RA 9522 defines the archipelagic baselines of the Philippines, while affirming Philippine sovereignty and jurisdiction over these areas which include SC 72," the company said. (PNA) RMA/MSN/utb
Philex buying out partners in 2 subsidiaries
By JAMES A. LOYOLA
February 27, 2010, 3:06pm
Philex Mining Corporation (PMC) continues to beef up its interests in its investees and is now spending about $83.5 million to buy out minority shareholders in Canadian listed Philex Gold Inc. (PGI) and to fully own the Silangan mining project.
In a disclosure to the Philippine and Toronto stock exchanges, PGI said it has entered into a definitive arrangement agreement with PMC and Philex Gold Holdings Inc. (PGHI). Under the agreement, PMC would indirectly acquire, through PGHI, via a plan of arrangement, all of the outstanding common shares of PGI from the existing minority shareholders for $0.75 per share.
The transaction will cost PMC about $5.7 million since it owns about 81 percent of PGI’s 40.07 million outstanding shares. It will thus be buying about 7.6 million PGI shares at $0.75 per share.
As a part of the transaction, PGI would transfer all of the shares of its wholly-owned subsidiary Philex Gold Philippines Inc. to PGHI in exchange for a promissory note in the amount of Can$82.4 million.
This amount will, in turn, be set off against the outstanding amounts that PGI owes PGHI. Following completion of the Transaction, PGI will be a wholly-owned subsidiary of PGHI.
Philex president J. Ernesto Villaluna Jr. said that the transactions will make the Silangan project (formerly Boyongan project) in Benguet fully owned by PMC.
In 2006, the Boyongan deposit was deemed by a qualified person to be economic and technically and financially feasible and should be advanced to the next level, that of a bankable feasible study.
The report also said that in addition to the reserves extractable from Boyongan, another opportunity exists for additional resources, albeit not yet reportable, located in the northwest area, the Bayugo Prospect.
In July 1996, the PMC’s gold claim holdings and assets, including the Bulawan mine in Negros Occidental, were spun-off to PGPI. Through a swap of shares, ownership in PGPI was subsequently transferred to PGI.
kann mir vorstellen,das philex auch FECOV voll aufkauft
By JAMES A. LOYOLA
February 27, 2010, 3:06pm
Philex Mining Corporation (PMC) continues to beef up its interests in its investees and is now spending about $83.5 million to buy out minority shareholders in Canadian listed Philex Gold Inc. (PGI) and to fully own the Silangan mining project.
In a disclosure to the Philippine and Toronto stock exchanges, PGI said it has entered into a definitive arrangement agreement with PMC and Philex Gold Holdings Inc. (PGHI). Under the agreement, PMC would indirectly acquire, through PGHI, via a plan of arrangement, all of the outstanding common shares of PGI from the existing minority shareholders for $0.75 per share.
The transaction will cost PMC about $5.7 million since it owns about 81 percent of PGI’s 40.07 million outstanding shares. It will thus be buying about 7.6 million PGI shares at $0.75 per share.
As a part of the transaction, PGI would transfer all of the shares of its wholly-owned subsidiary Philex Gold Philippines Inc. to PGHI in exchange for a promissory note in the amount of Can$82.4 million.
This amount will, in turn, be set off against the outstanding amounts that PGI owes PGHI. Following completion of the Transaction, PGI will be a wholly-owned subsidiary of PGHI.
Philex president J. Ernesto Villaluna Jr. said that the transactions will make the Silangan project (formerly Boyongan project) in Benguet fully owned by PMC.
In 2006, the Boyongan deposit was deemed by a qualified person to be economic and technically and financially feasible and should be advanced to the next level, that of a bankable feasible study.
The report also said that in addition to the reserves extractable from Boyongan, another opportunity exists for additional resources, albeit not yet reportable, located in the northwest area, the Bayugo Prospect.
In July 1996, the PMC’s gold claim holdings and assets, including the Bulawan mine in Negros Occidental, were spun-off to PGPI. Through a swap of shares, ownership in PGPI was subsequently transferred to PGI.
kann mir vorstellen,das philex auch FECOV voll aufkauft
Meinst du mit FECOV FEC ?Dann wohl eher zum Schnäppchenpreis!
Donnerwetter
Meine Depotleiche zappelt wieder!
Meine Depotleiche zappelt wieder!
Antwort auf Beitrag Nr.: 39.043.185 von kaktus7 am 02.03.10 17:25:21aber gaaaaaaaaaaaanz gewaltig
Antwort auf Beitrag Nr.: 39.044.188 von hainholz am 02.03.10 19:22:23da liegt was in der Luft
Übernahme durch Philex ?????????
Übernahme durch Philex ?????????
da wurde in USA zu 0,03 gut eingesammelt
0.03 5000 OBB 12:28:11
0.03 10000 OBB 12:28:01
0.03 2500 OBB 12:10:55
0.03 10000 OBB 12:10:19
0.03 50000 OBB 11:26:52
0.03 5000 OBB 11:21:39
0.03 6000 OBB 11:21:35
0.03 6000 OBB 11:21:35
0.03 6000 OBB 11:21:35
0.03 6000 OBB 11:21:35
0.03 50000 OBB 11:09:52
0.03 5000 OBB 12:28:11
0.03 10000 OBB 12:28:01
0.03 2500 OBB 12:10:55
0.03 10000 OBB 12:10:19
0.03 50000 OBB 11:26:52
0.03 5000 OBB 11:21:39
0.03 6000 OBB 11:21:35
0.03 6000 OBB 11:21:35
0.03 6000 OBB 11:21:35
0.03 6000 OBB 11:21:35
0.03 50000 OBB 11:09:52
Philex Mining starts March with surge in shipments amid higher metal prices
Monday, 08 March 2010 00:00
PHILEX Mining Corp. said it registered strong growth in the value of ore produced from its Padcal mine as well as in its mineral shipments because of higher metal prices. In a disclosure to the Philippine Stock Exchange, the country’s biggest mining firm said the estimated value of its production for the first two months of the year went up by 9 percent to P1.58 billion from P1.45 billion in the same period of 2009.
Jose Ernesto Villaluna Jr., Philex president, said the Padcal mine delivered 644,939 dry metric tons (DMT) of ore resulting in 4,726 DMT of concentrates containing 49.11 grams per DMT of gold, 24.72-percent copper and 52.75 grams per DMT of silver in February.
Production last month amounted to 7,471 ounces of gold, 2.58 million pounds of copper and 8015 ounces of silver with a total estimated value of P772 million. The estimated value of gold output is P384 million, P382 million for copper and P6 million for silver.
This was based on provisional metal prices of $1,110 per ounce of gold, $3.21 per pound of copper and $16.12 per ounce of silver at the exchange rate of P46.258 to $1.00.
The company’s first shipment for March also rose by 50 percent to P816 million from the P545-million worth of concentrates in the same month last year.
The shipment on March 1 contained concentrates amounting to 5,067 DMT, just slightly higher than the 5,009 DMT shipped in the same period last year.
Gold shipped dropped to 8,160 ounces from 9,466 ounces in the same period of 2009 while copper content went up to 2.79 million pounds from 2.6 million last year.
The value of the mineral content in this month’s first shipment, based on provisional metal prices, amounted to P392 million for gold, P417 million for copper and P7 million for silver.
On February 23, Philex shipped 4,998 DMT of concentrates with an estimated value of P836 million.
The company earlier said it increased its stake in Forum Energy Plc, which was recently awarded an exploration and development contract in offshore Palawan.
Philex’s wholly owned oil and gas unit, Philex Petroleum Corp. (PPC), purchased an additional 2.4-percent interest in Forum Energy, raising the group’s stake to 65.0 percent.
PPC now holds 39 percent of Forum Energy while the other 26.0 percent is held through FEC Resources Inc., Philex’s 51-percent owned Canadian subsidiary.
Forum Energy is a UK-based oil and gas exploration company that recently won the conversion of its Geophysical Survey and Exploration Contract 101 to a Service Contract 72.
The Reed Bank Basin measures about 71,000 square kilometers and is located about 250 kilometers west of Palawan.
In 2006, results from a 248 square kilometer 3D seismic survey over the license area confirmed a minimum of 3.4 trillion cubic feet of proven gas in place with significant upside potential.
Krista Angela M. Montealegre And Euan Paulo C. Añonuevo
Monday, 08 March 2010 00:00
PHILEX Mining Corp. said it registered strong growth in the value of ore produced from its Padcal mine as well as in its mineral shipments because of higher metal prices. In a disclosure to the Philippine Stock Exchange, the country’s biggest mining firm said the estimated value of its production for the first two months of the year went up by 9 percent to P1.58 billion from P1.45 billion in the same period of 2009.
Jose Ernesto Villaluna Jr., Philex president, said the Padcal mine delivered 644,939 dry metric tons (DMT) of ore resulting in 4,726 DMT of concentrates containing 49.11 grams per DMT of gold, 24.72-percent copper and 52.75 grams per DMT of silver in February.
Production last month amounted to 7,471 ounces of gold, 2.58 million pounds of copper and 8015 ounces of silver with a total estimated value of P772 million. The estimated value of gold output is P384 million, P382 million for copper and P6 million for silver.
This was based on provisional metal prices of $1,110 per ounce of gold, $3.21 per pound of copper and $16.12 per ounce of silver at the exchange rate of P46.258 to $1.00.
The company’s first shipment for March also rose by 50 percent to P816 million from the P545-million worth of concentrates in the same month last year.
The shipment on March 1 contained concentrates amounting to 5,067 DMT, just slightly higher than the 5,009 DMT shipped in the same period last year.
Gold shipped dropped to 8,160 ounces from 9,466 ounces in the same period of 2009 while copper content went up to 2.79 million pounds from 2.6 million last year.
The value of the mineral content in this month’s first shipment, based on provisional metal prices, amounted to P392 million for gold, P417 million for copper and P7 million for silver.
On February 23, Philex shipped 4,998 DMT of concentrates with an estimated value of P836 million.
The company earlier said it increased its stake in Forum Energy Plc, which was recently awarded an exploration and development contract in offshore Palawan.
Philex’s wholly owned oil and gas unit, Philex Petroleum Corp. (PPC), purchased an additional 2.4-percent interest in Forum Energy, raising the group’s stake to 65.0 percent.
PPC now holds 39 percent of Forum Energy while the other 26.0 percent is held through FEC Resources Inc., Philex’s 51-percent owned Canadian subsidiary.
Forum Energy is a UK-based oil and gas exploration company that recently won the conversion of its Geophysical Survey and Exploration Contract 101 to a Service Contract 72.
The Reed Bank Basin measures about 71,000 square kilometers and is located about 250 kilometers west of Palawan.
In 2006, results from a 248 square kilometer 3D seismic survey over the license area confirmed a minimum of 3.4 trillion cubic feet of proven gas in place with significant upside potential.
Krista Angela M. Montealegre And Euan Paulo C. Añonuevo
wieder was neues
Forum Energy defers drilling, mulls over further exploration in Palawan
PDFPrintE-mail
Tuesday, 09 March 2010 00:00
AddThis Social Bookmark Button
UK-listed Forum Energy Plc. plans to conduct more exploration activities in the Reed Bank basin in offshore Palawan before proceeding with drilling activities. Walter Brown, Forum Energy president, said the company is looking at spending between $10 million and $15 million for the petroleum block’s 3D seismic surveys.
“It’s just for the first [phase]—as soon as we can do 3D seismic,” he said.
Reed Bank lies within Forum Energy’s Service Contract (SC) 72 and the Sampaguita oil and gas discovery in the exploration block, which is said to contain reserves on a par with the Malampaya field.
In 2006, results from a 248-square kilometer 3D seismic survey over the license area indicated reserves of about 3.4 trillion cubic feet of natural gas.
Malampaya, the country’s largest natural gas field to date, has estimated reserves pegged at 3.7 trillion cubic feet. The field supplies three power plants with a combined capacity of 2,700 megawatts.
Brown said the company is confident that it can tap petroleum reserves in the area once drilling commences.
Forum Energy, however, has yet to firm up a target date for drilling activities in SC 72 since exploration activities would hinge on the availability of the seismic vessel this year.
“The seismic vessel we need is very specialized. If they are not available we’ll have to wait. So we’re still looking for the appropriate vessel,” Brown said.
Euan Paulo C. Añonuevo
Forum Energy defers drilling, mulls over further exploration in Palawan
PDFPrintE-mail
Tuesday, 09 March 2010 00:00
AddThis Social Bookmark Button
UK-listed Forum Energy Plc. plans to conduct more exploration activities in the Reed Bank basin in offshore Palawan before proceeding with drilling activities. Walter Brown, Forum Energy president, said the company is looking at spending between $10 million and $15 million for the petroleum block’s 3D seismic surveys.
“It’s just for the first [phase]—as soon as we can do 3D seismic,” he said.
Reed Bank lies within Forum Energy’s Service Contract (SC) 72 and the Sampaguita oil and gas discovery in the exploration block, which is said to contain reserves on a par with the Malampaya field.
In 2006, results from a 248-square kilometer 3D seismic survey over the license area indicated reserves of about 3.4 trillion cubic feet of natural gas.
Malampaya, the country’s largest natural gas field to date, has estimated reserves pegged at 3.7 trillion cubic feet. The field supplies three power plants with a combined capacity of 2,700 megawatts.
Brown said the company is confident that it can tap petroleum reserves in the area once drilling commences.
Forum Energy, however, has yet to firm up a target date for drilling activities in SC 72 since exploration activities would hinge on the availability of the seismic vessel this year.
“The seismic vessel we need is very specialized. If they are not available we’ll have to wait. So we’re still looking for the appropriate vessel,” Brown said.
Euan Paulo C. Añonuevo
Philex secures electricity requirements
Monday, 22 March 2010 00:00
AMID lingering concern over the Philippines’ power situation, the country’s biggest mining company has signed a supply agreement with a joint venture of Tokyo Electric Power Co. and Marubeni Corp. of Japan.
Philex Mining Corp. will source the 36-megawatt requirement of its mining operations from TeaM Energy Corp.’s 1,200-megawatt coal-fired plant in Sual, Pangasinan.
“We look forward to a fruitful and lasting relationship with our new business partner Philex. It is our honor to be able to provide them reliable and cost-efficient energy to power their operations,” Federico Puno, TeaM Energy president said.
Puno said large industrial users such as Philex stand to benefit from bilateral energy supply agreements, as it allows them the opportunity to reduce business costs.
Philex mines gold and copper in Tuba, Benguet and ships these to Japan. The local unit of Hong Kong-based First Pacific Co. Ltd. is Philex’s biggest stockholder, accounting for at least a 46 percent of the mining firm.
Aside from Philex, the TeaM Energy also has long-term bilateral contracts with Benguet Electric Cooperative, Bataan Economic Processing Zone and La Union Electric.
TeaM Energy is one of the largest private producers of electricity in the country with over 2,000 megawatts of generating capacity. It also operates the 735-megawatt Pagbilao coal-fired power plant in Quezon, and has a 20 percent stake in the 1,200-megawatt Ilijan natural gas facility in Batangas.
Euan Paulo C. Añonuevo
Monday, 22 March 2010 00:00
AMID lingering concern over the Philippines’ power situation, the country’s biggest mining company has signed a supply agreement with a joint venture of Tokyo Electric Power Co. and Marubeni Corp. of Japan.
Philex Mining Corp. will source the 36-megawatt requirement of its mining operations from TeaM Energy Corp.’s 1,200-megawatt coal-fired plant in Sual, Pangasinan.
“We look forward to a fruitful and lasting relationship with our new business partner Philex. It is our honor to be able to provide them reliable and cost-efficient energy to power their operations,” Federico Puno, TeaM Energy president said.
Puno said large industrial users such as Philex stand to benefit from bilateral energy supply agreements, as it allows them the opportunity to reduce business costs.
Philex mines gold and copper in Tuba, Benguet and ships these to Japan. The local unit of Hong Kong-based First Pacific Co. Ltd. is Philex’s biggest stockholder, accounting for at least a 46 percent of the mining firm.
Aside from Philex, the TeaM Energy also has long-term bilateral contracts with Benguet Electric Cooperative, Bataan Economic Processing Zone and La Union Electric.
TeaM Energy is one of the largest private producers of electricity in the country with over 2,000 megawatts of generating capacity. It also operates the 735-megawatt Pagbilao coal-fired power plant in Quezon, and has a 20 percent stake in the 1,200-megawatt Ilijan natural gas facility in Batangas.
Euan Paulo C. Añonuevo
Voll abgeschmiert!Gibt es Gründe?
Antwort auf Beitrag Nr.: 39.250.426 von Grauewoelfe am 30.03.10 23:26:19nö,eigentlich nicht
man wird wohl ungeduldig,aber das kennt man ja
man wird wohl ungeduldig,aber das kennt man ja
Naja,scharren mit den Hufen ist ja erlaubt,aber gleich überreagieren....
Antwort auf Beitrag Nr.: 39.254.065 von Grauewoelfe am 31.03.10 13:48:10Das finde ich auch, extreme Kursbewegungen, für FEC zwar nicht ungewöhnlich, aber ich denke - wie auch auf Stockhouse vermutet -, dass Leerverkäufe den Kurs gedrückt haben. Insofern kann es auch ganz schnell wieder in die andere Richtung gehen.
Gruß
Gruß
Penny Stock Oil Companies
Oil is one area of inv3500% gain on GAGCesting that has garnered a lot of interest over the last few years. We are running out of petroleum sometime within the next hundred years or so and there is a larger demand for oil across the world with the emergence of China and other countries as a more industrialized nation. This to our chagrin has caused gas prices to move uncomfortably higher.
However this produces opportunities for oil companies since they can now go out and drill with the price of gas at these levels. Lower prices of oil do not make it cost effective to drill. There are a number of penny stocks in the oil industry that could take advantage of the current landscape.
Oil penny stocks have potential explosive earning potential should some of their wells produce like they hope. Below is a list of some of the Independent Oil Companies that are also penny stocks. As always do your due diligence and look for trading opportunities.
HKN, Inc. HKN
ERHC Energy Inc. ERHE.OB
Gasco Energy, Inc. GSX
Lucas Energy, Inc. LEI
FEC Resources, Inc. FECOF.OB
Royale Energy, Inc. ROYL
VAALCO Energy, Inc. EGY
Oakridge Energy, Inc. OAKR.OB
Altex Industries, Inc. ALTX.OB
PetroQuest Energy, Inc. PQ
American Oil & Gas, Inc. AEZ
Callon Petroleum Company CPE
Spindletop Oil & Gas Co. SPND.OB
Barnwell Industries, Inc. BRN
Crimson Exploration, Inc. CXPO
Double Eagle Petroleum Co. DBLE
GeoPetro Resources Company GPR
Oil is one area of inv3500% gain on GAGCesting that has garnered a lot of interest over the last few years. We are running out of petroleum sometime within the next hundred years or so and there is a larger demand for oil across the world with the emergence of China and other countries as a more industrialized nation. This to our chagrin has caused gas prices to move uncomfortably higher.
However this produces opportunities for oil companies since they can now go out and drill with the price of gas at these levels. Lower prices of oil do not make it cost effective to drill. There are a number of penny stocks in the oil industry that could take advantage of the current landscape.
Oil penny stocks have potential explosive earning potential should some of their wells produce like they hope. Below is a list of some of the Independent Oil Companies that are also penny stocks. As always do your due diligence and look for trading opportunities.
HKN, Inc. HKN
ERHC Energy Inc. ERHE.OB
Gasco Energy, Inc. GSX
Lucas Energy, Inc. LEI
FEC Resources, Inc. FECOF.OB
Royale Energy, Inc. ROYL
VAALCO Energy, Inc. EGY
Oakridge Energy, Inc. OAKR.OB
Altex Industries, Inc. ALTX.OB
PetroQuest Energy, Inc. PQ
American Oil & Gas, Inc. AEZ
Callon Petroleum Company CPE
Spindletop Oil & Gas Co. SPND.OB
Barnwell Industries, Inc. BRN
Crimson Exploration, Inc. CXPO
Double Eagle Petroleum Co. DBLE
GeoPetro Resources Company GPR
Könnte meinen,es liegt was in der Luft...
Forum braucht ca. 3 Mrd. für die Entwicklung des Gasfeldes. Der Anteil von FEC könnte schrumpfen, sofern es zu einer Verwässerung bei Forum kommt.
Corporate News
Posted on 09:21 PM, April 20, 2010
Forum Energy told to raise equity, find partner for gas field
LONDON-based Forum Energy Plc needs to spend $3 billion to develop a gas field in South China Sea into a commercial operation, a research firm commissioned by the company said in a report.
Edison Investment Research Ltd. came up with the price estimate after comparing the gas potential of Forum Energy’s Service Contract (SC) 72 with that of the adjacent Malampaya gas field covered by SC 38.
“The Malampaya consortium, which includes Shell, has already recovered the $4.5-billion investment since the field became operational in 2001 ... This would suggest a $3-billion price tag for a resource similar to Sampaguita with all the infrastructure in place,” Edison said.
SC 72, formerly geophysical survey service exploration (GSEC) contract 101, covers the Sampaguita oil and gas discovery in the Reed Bank Basin, which the Chinese government claims is part of the contested Spratly islands. The block lies just 250 kilometers southwest of the Malampaya field, the largest natural gas field in the country which powers three generation plants.
Edison said the Sampaguita field may hold 3.5 trillion cubic feet of gas (tcf). The Malampaya field is estimated to contain 3 tcf.
“Forum is faced with a funding gap and will need to raise equity or opt for a farm-in partner to finance its appraisal program on Sampaguita,” Edison said.
Edison ended 2009 with a cash balance of $4.1 million.
The research firm also said Forum Energy may have to spend $10 million for a 3D seismic survey to affirm reserves in the field.
The presence of Philex Mining Corp., however, gives the company some advantage. Philex Mining, which is baked up by First Pacific Co. Ltd. of Hong Kong, holds a 65% stake in Forum Energy.
Forum Energy earlier said it had invested over $5 million in exploration activities to kick-start a bid to become a gas exporter.
The firm received GSEC 101 in 2002. It expired four years after in 2006. GSEC 101’s conversion into a service contract was supposedly delayed as a result of a three-year deal among the Philippines, China, and Vietnam for a marine study in the South China Sea, which includes the Spratlys.
Forum Energy also owns a 66.7% interest in SC 40 in Cebu which contains the onshore Libertad Gas Field and Maya discovery, as well as a 2.28% stake in the Galoc field. -- J. B. F. Santos
http://www.bworld.com.ph/main/content.php?id=9458
Corporate News
Posted on 09:21 PM, April 20, 2010
Forum Energy told to raise equity, find partner for gas field
LONDON-based Forum Energy Plc needs to spend $3 billion to develop a gas field in South China Sea into a commercial operation, a research firm commissioned by the company said in a report.
Edison Investment Research Ltd. came up with the price estimate after comparing the gas potential of Forum Energy’s Service Contract (SC) 72 with that of the adjacent Malampaya gas field covered by SC 38.
“The Malampaya consortium, which includes Shell, has already recovered the $4.5-billion investment since the field became operational in 2001 ... This would suggest a $3-billion price tag for a resource similar to Sampaguita with all the infrastructure in place,” Edison said.
SC 72, formerly geophysical survey service exploration (GSEC) contract 101, covers the Sampaguita oil and gas discovery in the Reed Bank Basin, which the Chinese government claims is part of the contested Spratly islands. The block lies just 250 kilometers southwest of the Malampaya field, the largest natural gas field in the country which powers three generation plants.
Edison said the Sampaguita field may hold 3.5 trillion cubic feet of gas (tcf). The Malampaya field is estimated to contain 3 tcf.
“Forum is faced with a funding gap and will need to raise equity or opt for a farm-in partner to finance its appraisal program on Sampaguita,” Edison said.
Edison ended 2009 with a cash balance of $4.1 million.
The research firm also said Forum Energy may have to spend $10 million for a 3D seismic survey to affirm reserves in the field.
The presence of Philex Mining Corp., however, gives the company some advantage. Philex Mining, which is baked up by First Pacific Co. Ltd. of Hong Kong, holds a 65% stake in Forum Energy.
Forum Energy earlier said it had invested over $5 million in exploration activities to kick-start a bid to become a gas exporter.
The firm received GSEC 101 in 2002. It expired four years after in 2006. GSEC 101’s conversion into a service contract was supposedly delayed as a result of a three-year deal among the Philippines, China, and Vietnam for a marine study in the South China Sea, which includes the Spratlys.
Forum Energy also owns a 66.7% interest in SC 40 in Cebu which contains the onshore Libertad Gas Field and Maya discovery, as well as a 2.28% stake in the Galoc field. -- J. B. F. Santos
http://www.bworld.com.ph/main/content.php?id=9458
mit philex haben sie schon einen starken partner,wobei in philex ja auch ne philp.ölfirma steckt.
noch was gefunden betreff galocfeld
Corporate News
Posted on 09:25 PM, April 21, 2010
Galoc oil consortium to decide on additional investment by June
STAKEHOLDERS at the Galoc oil field in northwest Palawan are now evaluating the prospects of drilling two additional wells to tap further reserves.
In a disclosure, Australian firm Otto Energy Ltd. said “Phase 2 evaluation [is] ongoing.”
The second stage of the Galoc field development, which involves drilling two additional wells, is expected to tap additional reserves of five million barrels, which will add 4,000 to the field’s daily production.
Otto Energy said an “investment decision [is] expected around midyear.”
“Development planning for potential facilities, upgrade options and Phase 2 drilling [are now] being undertaken by the operator,” Otto Energy said.
“Interpretation and mapping of the recently reprocessed seismic data commenced in the [first] quarter. Planning has now commenced for potential Phase 2 drilling,” the company added.
Galoc Production Co. is the field’s operator with a 59.84% stake in the field. Galoc Production is co-owned by European energy company Vitol group with 68.6%, and Otto Energy with 31.4%.
The balance is held by Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp. with 7.79%, locally listed The Philodrill Corp. with 7.21%, and Forum Energy Corp. with 2.28%.
Otto Energy also reported that the Galoc oil field produced 767,315 barrels of oil in the first quarter. The field has so far produced 4.3 million barrels of crude oil and delivered 12 cargoes to customers since operations started in October 2008.
“The field continues to produce in line with expectations and Otto is working with the operator to continue to improve the facility performance and plan for appraisal and development of the remainder of the field,” Otto Energy said.
The Galoc oil field is estimated to contain 10 million barrels of oil and produces between 12,000 to 14,000 barrels of oil per day from two subsea wells.
Crude oil from Galoc is expected to generate foreign savings for the country worth over a billion dollars. The oil field’s production is about 5% of the country’s total demand of 300,000 barrels per day.
Otto Energy also holds an 85% stake in Service Contract (SC) 50 which covers the Calauit south oil fields in the northeast Palawan basin, 80% in SC 51 in the East Visayan basin, 70% in SC 69 which is adjacent to the SC 51 block, and 85% in SC 55 off Palawan.
Oil investors are entitled to a 70% share of revenues from production sales under the government’s fiscal regime for petroleum development. The mechanism is designed to allow the contractor to recover investment costs.
The government is entitled to 60% of the remaining 30% of revenues, with the remaining 40% divided over the companies involved in the project. -- J. B. F. Santos
noch was gefunden betreff galocfeld
Corporate News
Posted on 09:25 PM, April 21, 2010
Galoc oil consortium to decide on additional investment by June
STAKEHOLDERS at the Galoc oil field in northwest Palawan are now evaluating the prospects of drilling two additional wells to tap further reserves.
In a disclosure, Australian firm Otto Energy Ltd. said “Phase 2 evaluation [is] ongoing.”
The second stage of the Galoc field development, which involves drilling two additional wells, is expected to tap additional reserves of five million barrels, which will add 4,000 to the field’s daily production.
Otto Energy said an “investment decision [is] expected around midyear.”
“Development planning for potential facilities, upgrade options and Phase 2 drilling [are now] being undertaken by the operator,” Otto Energy said.
“Interpretation and mapping of the recently reprocessed seismic data commenced in the [first] quarter. Planning has now commenced for potential Phase 2 drilling,” the company added.
Galoc Production Co. is the field’s operator with a 59.84% stake in the field. Galoc Production is co-owned by European energy company Vitol group with 68.6%, and Otto Energy with 31.4%.
The balance is held by Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp. with 7.79%, locally listed The Philodrill Corp. with 7.21%, and Forum Energy Corp. with 2.28%.
Otto Energy also reported that the Galoc oil field produced 767,315 barrels of oil in the first quarter. The field has so far produced 4.3 million barrels of crude oil and delivered 12 cargoes to customers since operations started in October 2008.
“The field continues to produce in line with expectations and Otto is working with the operator to continue to improve the facility performance and plan for appraisal and development of the remainder of the field,” Otto Energy said.
The Galoc oil field is estimated to contain 10 million barrels of oil and produces between 12,000 to 14,000 barrels of oil per day from two subsea wells.
Crude oil from Galoc is expected to generate foreign savings for the country worth over a billion dollars. The oil field’s production is about 5% of the country’s total demand of 300,000 barrels per day.
Otto Energy also holds an 85% stake in Service Contract (SC) 50 which covers the Calauit south oil fields in the northeast Palawan basin, 80% in SC 51 in the East Visayan basin, 70% in SC 69 which is adjacent to the SC 51 block, and 85% in SC 55 off Palawan.
Oil investors are entitled to a 70% share of revenues from production sales under the government’s fiscal regime for petroleum development. The mechanism is designed to allow the contractor to recover investment costs.
The government is entitled to 60% of the remaining 30% of revenues, with the remaining 40% divided over the companies involved in the project. -- J. B. F. Santos
A report commissioned by UK-listed Forum Energy Plc found the Sampaguita gas field in the Reed Bank basin in offshore Palawan on a par with the Malampaya, the Philippines’ largest natural gas field.
The Sampaguita gas field is under Forum Energy’s Service Contract 79.
Edison Investment Research Ltd. estimated the petroleum block to hold 3.5 trillion cubic feet of gas in place compared with the Malam-paya gas field’s 3 trillion cubic feet of gas and 40 million barrels of recoverable oil reserves.
Edison is a leading investment research company in Europe.
Because of the potential scale of the Sampaguita gas field, the research firm projected the Sampaguita field development to require about $3 billion in investments.
“The Malampaya consortium, which includes Shell, has already recovered the $4.5-billion investment since the field became operational in 2001 . . . This would suggest a $3 billion price tag for a resource similar to Sampaguita with all the infrastructure in place,” Edison said.
It said Forum Energy would likely spend about $10 million for a 3D seismic to affirm the potential of the Sampaguita gas field and is expected to drill two to three appraisal wells at a cost of $30 million per well in the next 36 months.
“Forum is faced with a funding gap and needs to raise equity or opt for a farm-in partner to finance its appraisal program on Sampaguita,” Edison said.
Forum’s funding risks are significantly mitigated by its current shareholder structure. Philippine-listed Philex Mining Corp. owns 65 percent of Forum. Hong Kong-listed First Pacific Co. Ltd. controls Philex.
“First Pacific provides Philex access to a strong balance sheet, suggesting that funding risks are significantly mitigated,” Edison said.
The research firm said the Sampaguita discovery is a “potentially value-changing asset” and adds a significant value to Forum Energy’s entire oil and gas portfolio.
“Were the appraisal program to prove up the [gas in place] estimate, we would expect the size of the field to attract the attention of larger players. In the context of the UK sector of the North Sea, a 3 trillion cubic feet find would be one of the largest finds in the last 25 years. Similar to Malampaya, such a find would be the foundations of an LNG [liquefied natural gas] project,” Edison said.
The Sampaguita gas field is under Forum Energy’s Service Contract 79.
Edison Investment Research Ltd. estimated the petroleum block to hold 3.5 trillion cubic feet of gas in place compared with the Malam-paya gas field’s 3 trillion cubic feet of gas and 40 million barrels of recoverable oil reserves.
Edison is a leading investment research company in Europe.
Because of the potential scale of the Sampaguita gas field, the research firm projected the Sampaguita field development to require about $3 billion in investments.
“The Malampaya consortium, which includes Shell, has already recovered the $4.5-billion investment since the field became operational in 2001 . . . This would suggest a $3 billion price tag for a resource similar to Sampaguita with all the infrastructure in place,” Edison said.
It said Forum Energy would likely spend about $10 million for a 3D seismic to affirm the potential of the Sampaguita gas field and is expected to drill two to three appraisal wells at a cost of $30 million per well in the next 36 months.
“Forum is faced with a funding gap and needs to raise equity or opt for a farm-in partner to finance its appraisal program on Sampaguita,” Edison said.
Forum’s funding risks are significantly mitigated by its current shareholder structure. Philippine-listed Philex Mining Corp. owns 65 percent of Forum. Hong Kong-listed First Pacific Co. Ltd. controls Philex.
“First Pacific provides Philex access to a strong balance sheet, suggesting that funding risks are significantly mitigated,” Edison said.
The research firm said the Sampaguita discovery is a “potentially value-changing asset” and adds a significant value to Forum Energy’s entire oil and gas portfolio.
“Were the appraisal program to prove up the [gas in place] estimate, we would expect the size of the field to attract the attention of larger players. In the context of the UK sector of the North Sea, a 3 trillion cubic feet find would be one of the largest finds in the last 25 years. Similar to Malampaya, such a find would be the foundations of an LNG [liquefied natural gas] project,” Edison said.
Philex oil exploration arm seeks investor
By JAMES A. LOYOLA
April 25, 2010, 11:17am
Oil and gas exploration firm Forum Energy Plc of the UK, an indirect subsidiary of Philex Mining Corporation, may need to get a new investor to help it raise $3 billion needed to bring the gas-rich Sampaguita field in the Reed Bank Basin into commercial production.
This is based on the findings of Edison Investment Research Ltd. which was commissioned by Forum Energy to conduct a research report.
Considered Europe’s leading investment research company, Edison’s team of more than 50 includes over 30 analysts supported by a department of supervisory analysts, editors and assistants.
Edison compared the oil and gas potential of the Sampaguita gas field to that of the Malampaya gas field in northwest Palawan.
It said the Sampaguita field under service contract 79 (formerly GSEC 101), is estimated to hold 3.5 trillion cubic feet (tcf) of gas in place while the Malampaya gas field contains around 3 tcf of gas and 40 million barrels of recoverable oil reserves.
"The Malampaya consortium, which includes Shell, has already recovered the $4.5 billion investment since the field became operational in 2001...This would suggest a $3 billion price tag for a resource similar to Sampaguita with all the infrastructure in place," Edison said.
It said Forum Energy will likely spend about $10 million for a 3D seismic to affirm the potential of the Sampaguita gas field and is expected to drill two to three appraisal wells at a cost of $30 million per well in the next 36 months.
"Forum is faced with a funding gap and need to raise equity or opt for a farm-in partner to finance its appraisal programme on Sampaguita," Edison said.
However, it said that Forum's funding risks are significantly mitigated by its current shareholder structure. Philex currently owns 65 percent of Forum. Philex is controlled by First Pacific Company, which last year generated $3.9 billion of sales and $335 million of operating profit.
"First Pacific provides Philex access to a strong balance sheet, suggesting that funding risks are significantly mitigated," it said.
Edison said the Sampaguita discovery is a "potentially value-changing asset" and adds a significant value to Forum Energy's entire oil and gas portfolio.
"Were the appraisal programme to prove up the GIP (gas in place) estimate, we would expect the size of the field to attract the attention of larger players. In the context of the UK sector of the North Sea, a 3 trillion cubic feet find would be one of the largest finds in the last 25 years. Similar to Malampaya, such a find would be the foundations of an LNG (liquefied natural gas) project," Edison Investment said.
By JAMES A. LOYOLA
April 25, 2010, 11:17am
Oil and gas exploration firm Forum Energy Plc of the UK, an indirect subsidiary of Philex Mining Corporation, may need to get a new investor to help it raise $3 billion needed to bring the gas-rich Sampaguita field in the Reed Bank Basin into commercial production.
This is based on the findings of Edison Investment Research Ltd. which was commissioned by Forum Energy to conduct a research report.
Considered Europe’s leading investment research company, Edison’s team of more than 50 includes over 30 analysts supported by a department of supervisory analysts, editors and assistants.
Edison compared the oil and gas potential of the Sampaguita gas field to that of the Malampaya gas field in northwest Palawan.
It said the Sampaguita field under service contract 79 (formerly GSEC 101), is estimated to hold 3.5 trillion cubic feet (tcf) of gas in place while the Malampaya gas field contains around 3 tcf of gas and 40 million barrels of recoverable oil reserves.
"The Malampaya consortium, which includes Shell, has already recovered the $4.5 billion investment since the field became operational in 2001...This would suggest a $3 billion price tag for a resource similar to Sampaguita with all the infrastructure in place," Edison said.
It said Forum Energy will likely spend about $10 million for a 3D seismic to affirm the potential of the Sampaguita gas field and is expected to drill two to three appraisal wells at a cost of $30 million per well in the next 36 months.
"Forum is faced with a funding gap and need to raise equity or opt for a farm-in partner to finance its appraisal programme on Sampaguita," Edison said.
However, it said that Forum's funding risks are significantly mitigated by its current shareholder structure. Philex currently owns 65 percent of Forum. Philex is controlled by First Pacific Company, which last year generated $3.9 billion of sales and $335 million of operating profit.
"First Pacific provides Philex access to a strong balance sheet, suggesting that funding risks are significantly mitigated," it said.
Edison said the Sampaguita discovery is a "potentially value-changing asset" and adds a significant value to Forum Energy's entire oil and gas portfolio.
"Were the appraisal programme to prove up the GIP (gas in place) estimate, we would expect the size of the field to attract the attention of larger players. In the context of the UK sector of the North Sea, a 3 trillion cubic feet find would be one of the largest finds in the last 25 years. Similar to Malampaya, such a find would be the foundations of an LNG (liquefied natural gas) project," Edison Investment said.
Antwort auf Beitrag Nr.: 39.398.403 von hainholz am 25.04.10 22:53:29http://www.forumenergyplc.com/news/downloads/edison-investme…
Unter dem Link ist das vollständige Edison Research abrufbar. Ganz interessant zu lesen. Nachhaltiges Investoreninteresse an FEP wird imo erst aufkommen, wenn die für die nächsten 36 Monate angekündigten Programme die Gasreserven bestätigen. Gut Ding will Weile haben.
Gruß
Unter dem Link ist das vollständige Edison Research abrufbar. Ganz interessant zu lesen. Nachhaltiges Investoreninteresse an FEP wird imo erst aufkommen, wenn die für die nächsten 36 Monate angekündigten Programme die Gasreserven bestätigen. Gut Ding will Weile haben.
Gruß
Philex profit up 17% in Q1 to P521 million
By JAMES A. LOYOLA
May 6, 2010, 3:28pm
Philex Mining Corporation reported a 17 percent jump in consolidated net income for the first quarter of 2010 to P521.3 million from the P445.7 million for the same quarter last year due to higher metal prices.
In a disclosure to the Philippine Stock Exchange Thursday, Philex said its core net income rose by a higher 36.8 percent to P520.1 million compared to P380.1 million in the same period last year while EBITDA (earnings before interest, taxes, depreciation and amortizations) increased to P953.9 million from P785.0 million in 2009.
Stronger metal prices buoyed operating revenue in the first quarter of 2010 compared to the same period last year despite lower production volume for both copper and gold.
Copper comprised 53 percent of operating revenue as Philex generated almost twice the amount at P1.3 billion this year from P697.6 million last year, with realized copper price averaging $3.22 per pound from $1.81 per pound in 2009.
This was more than enough to compensate for the lower production of 8.1 million pounds of copper this year from 9.2 million pounds last year.
On the other hand, revenue from gold decreased to P1.1 billion, comprising 47 percent of operating revenue, from P1.3 billion last year as production declined to 24.6 thousand ounces in 2010 from 33.8 thousand ounces in 2009.
This is despite higher realized gold price averaging at $1,021 in the first quarter of 2010 from $910 last year (net of the amortization of hedging costs applied to adjust revenue of $92 and $32 per ounce in 2010 and 2009, respectively).
Consolidated revenue this year also included petroleum revenue of P35.0 million from Forum Energy PLC (FEP), a 52.37 percent effectively owned subsidiary, and coal revenue of P7.4 million from Brixton Energy & Mining Corporation (BEMC), a wholly-owned subsidiary.
The income of FEP came from its share of the Galoc production while the income of BEMC was from the trading of coal purchased from small-scale miners in its mining property.
While marketing charges and operating cost and expenses increased to P155.1 million and P1.5 billion this year from P120.1 million and P1.4 billion respectively, last year, net income from operations at P781.1 million was higher this quarter compared to P530.0 million last year.
Net income before tax this quarter amounted to P739.8 million after other charges of P46.2 million, which included equity in net losses of associates of P21.5 million, stock-based compensation expense of P13.9 million, provision for losses of P12.0 million, net interest income of P3.3 million, and foreign exchange gain of P1.7 million.
By JAMES A. LOYOLA
May 6, 2010, 3:28pm
Philex Mining Corporation reported a 17 percent jump in consolidated net income for the first quarter of 2010 to P521.3 million from the P445.7 million for the same quarter last year due to higher metal prices.
In a disclosure to the Philippine Stock Exchange Thursday, Philex said its core net income rose by a higher 36.8 percent to P520.1 million compared to P380.1 million in the same period last year while EBITDA (earnings before interest, taxes, depreciation and amortizations) increased to P953.9 million from P785.0 million in 2009.
Stronger metal prices buoyed operating revenue in the first quarter of 2010 compared to the same period last year despite lower production volume for both copper and gold.
Copper comprised 53 percent of operating revenue as Philex generated almost twice the amount at P1.3 billion this year from P697.6 million last year, with realized copper price averaging $3.22 per pound from $1.81 per pound in 2009.
This was more than enough to compensate for the lower production of 8.1 million pounds of copper this year from 9.2 million pounds last year.
On the other hand, revenue from gold decreased to P1.1 billion, comprising 47 percent of operating revenue, from P1.3 billion last year as production declined to 24.6 thousand ounces in 2010 from 33.8 thousand ounces in 2009.
This is despite higher realized gold price averaging at $1,021 in the first quarter of 2010 from $910 last year (net of the amortization of hedging costs applied to adjust revenue of $92 and $32 per ounce in 2010 and 2009, respectively).
Consolidated revenue this year also included petroleum revenue of P35.0 million from Forum Energy PLC (FEP), a 52.37 percent effectively owned subsidiary, and coal revenue of P7.4 million from Brixton Energy & Mining Corporation (BEMC), a wholly-owned subsidiary.
The income of FEP came from its share of the Galoc production while the income of BEMC was from the trading of coal purchased from small-scale miners in its mining property.
While marketing charges and operating cost and expenses increased to P155.1 million and P1.5 billion this year from P120.1 million and P1.4 billion respectively, last year, net income from operations at P781.1 million was higher this quarter compared to P530.0 million last year.
Net income before tax this quarter amounted to P739.8 million after other charges of P46.2 million, which included equity in net losses of associates of P21.5 million, stock-based compensation expense of P13.9 million, provision for losses of P12.0 million, net interest income of P3.3 million, and foreign exchange gain of P1.7 million.
news
FEC Resources Inc. Announces Annual Filings Under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities
5/6/2010 2:02 PM - PR Newswire
CALGARY, Alberta, May 6, 2010 /PRNewswire via COMTEX News Network/ --
FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FEC") wishes to advise that it has filed its Form 51-101F1 - Statement of Reserves Data and Other Information, Form 51-101F2 - Report of Independent Qualified Reserves Evaluator and Form 51-101F3 - Report of Management and Directors for Oil and Gas Activities under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. The filings can be accessed electronically from the SEDAR system at www.sedar.com.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
On behalf of the Board of,
FEC Resources, Inc.
Barry Stansfield
Chairman
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 Riaz Sumar at (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
SOURCE FEC Resources Inc.
Copyright (C) 2010 PR Newswire. All rights reserved
FEC Resources Inc. Announces Annual Filings Under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities
5/6/2010 2:02 PM - PR Newswire
CALGARY, Alberta, May 6, 2010 /PRNewswire via COMTEX News Network/ --
FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FEC") wishes to advise that it has filed its Form 51-101F1 - Statement of Reserves Data and Other Information, Form 51-101F2 - Report of Independent Qualified Reserves Evaluator and Form 51-101F3 - Report of Management and Directors for Oil and Gas Activities under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. The filings can be accessed electronically from the SEDAR system at www.sedar.com.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
On behalf of the Board of,
FEC Resources, Inc.
Barry Stansfield
Chairman
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 Riaz Sumar at (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
SOURCE FEC Resources Inc.
Copyright (C) 2010 PR Newswire. All rights reserved
NEWS
FEC Resources Inc. Announces 2008 Annual Filings Under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities
FEC Resources Inc
FECOF | 5/13/2010 11:45:00 AM
CALGARY, Alberta, May 13, 2010 /PRNewswire via COMTEX News Network/ --
FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FEC") wishes to advise that it has filed its Form 51-101F1 - Statement of Reserves Data and Other Information, Form 51-101F2 - Report of Independent Qualified Reserves Evaluator and Form 51-101F3 - Report of Management and Directors for Oil and Gas Activities under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. The filings can be accessed electronically from the SEDAR system at www.sedar.com.
FEC Resources Inc. holds a diverse portfolio of oil, gas, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
On behalf of the Board of, FEC Resources, Inc. "Barry Stansfield" Barry Stansfield Chairman
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 call (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
FEC HEADQUARTERS Calgary, Alberta E-mail: info@FECResources.com Website: http://www.FECResources.com Tel: 1-403-290-1676 Fax: 1-403-398-1382
SOURCE FEC Resources Inc.
Copyright (C) 2010 PR Newswire. All rights reserved
warum so ein altes Filing
FEC Resources Inc. Announces 2008 Annual Filings Under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities
FEC Resources Inc
FECOF | 5/13/2010 11:45:00 AM
CALGARY, Alberta, May 13, 2010 /PRNewswire via COMTEX News Network/ --
FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FEC") wishes to advise that it has filed its Form 51-101F1 - Statement of Reserves Data and Other Information, Form 51-101F2 - Report of Independent Qualified Reserves Evaluator and Form 51-101F3 - Report of Management and Directors for Oil and Gas Activities under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. The filings can be accessed electronically from the SEDAR system at www.sedar.com.
FEC Resources Inc. holds a diverse portfolio of oil, gas, and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
On behalf of the Board of, FEC Resources, Inc. "Barry Stansfield" Barry Stansfield Chairman
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 call (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
FEC HEADQUARTERS Calgary, Alberta E-mail: info@FECResources.com Website: http://www.FECResources.com Tel: 1-403-290-1676 Fax: 1-403-398-1382
SOURCE FEC Resources Inc.
Copyright (C) 2010 PR Newswire. All rights reserved
warum so ein altes Filing
Firm to invest $100M in Palawan gas project
By Amy R. Remo
Philippine Daily Inquirer
Posted date: May 23, 2010
MANILA, Philippines—Oil exploration firm Forum Energy Plc is expected to invest $100 million (about P4.5 billion) over the next three years to drill three appraisal wells in the oil-and gas-rich Sampaguita field in offshore Palawan.
“Within 18 months, it is expected that the company will shoot further 3D seismic survey, which we have assumed to cost $10 million before drilling the first well. Our financial model assumes the company drills a further three wells at a cost of $30 million per well,” according to the Edison Investment Research outlook.
According to the document posted on Forum Energy’s website, the company is expected to focus its resources in assessing the Sampaguita field, which is estimated to contain at least 3.4 trillion cubic feet of gas, with an upside potential of as much as 20 trillion cubic feet of gas.
Developing the field is expected to cost $3 billion, according to the report.
The field is under Service Contract 72, which covers 880,000 hectares within the Reed Bank basin—some 150 kilometers east of the Spratlys and close to the main island of Palawan.
Aside from the large Sampaguita gas discovery, the company said the SC 72 field contained at least eight other potential leads.
The resources within SC 72 were believed to be enough to form the foundations of a liquefied natural gas (LNG) project, similar to the Malampaya deep water-to-gas power project.
“There are several options available to Forum Energy for marketing the gas produced from Sampaguita [such as] establishing a new LNG export facility, building a pipeline to access capacity in Shell Exploration BV’s existing infrastructure at the Malampaya, and selling into the Philippine market,” the report stated.
“The outcome is partly dependent on how much gas is proved up. In our valuation, we assumed that Forum will establish its own LNG export facility to serve markets in China and Korea,” it added.
“However, given the level of reserves already firmed up, Forum is likely to attract attention from major oil companies that may well have complementary infrastructure, such as Shell,” the report said.
It was only in February this year that the government granted Forum Energy a service contract for Geophysical Survey Exploration Contract (GSEC) 101.
By Amy R. Remo
Philippine Daily Inquirer
Posted date: May 23, 2010
MANILA, Philippines—Oil exploration firm Forum Energy Plc is expected to invest $100 million (about P4.5 billion) over the next three years to drill three appraisal wells in the oil-and gas-rich Sampaguita field in offshore Palawan.
“Within 18 months, it is expected that the company will shoot further 3D seismic survey, which we have assumed to cost $10 million before drilling the first well. Our financial model assumes the company drills a further three wells at a cost of $30 million per well,” according to the Edison Investment Research outlook.
According to the document posted on Forum Energy’s website, the company is expected to focus its resources in assessing the Sampaguita field, which is estimated to contain at least 3.4 trillion cubic feet of gas, with an upside potential of as much as 20 trillion cubic feet of gas.
Developing the field is expected to cost $3 billion, according to the report.
The field is under Service Contract 72, which covers 880,000 hectares within the Reed Bank basin—some 150 kilometers east of the Spratlys and close to the main island of Palawan.
Aside from the large Sampaguita gas discovery, the company said the SC 72 field contained at least eight other potential leads.
The resources within SC 72 were believed to be enough to form the foundations of a liquefied natural gas (LNG) project, similar to the Malampaya deep water-to-gas power project.
“There are several options available to Forum Energy for marketing the gas produced from Sampaguita [such as] establishing a new LNG export facility, building a pipeline to access capacity in Shell Exploration BV’s existing infrastructure at the Malampaya, and selling into the Philippine market,” the report stated.
“The outcome is partly dependent on how much gas is proved up. In our valuation, we assumed that Forum will establish its own LNG export facility to serve markets in China and Korea,” it added.
“However, given the level of reserves already firmed up, Forum is likely to attract attention from major oil companies that may well have complementary infrastructure, such as Shell,” the report said.
It was only in February this year that the government granted Forum Energy a service contract for Geophysical Survey Exploration Contract (GSEC) 101.
Antwort auf Beitrag Nr.: 39.573.076 von xxtsc am 24.05.10 10:28:29das ist ja ne super Feiertagsmeldung
Antwort auf Beitrag Nr.: 39.573.334 von hainholz am 24.05.10 11:25:44Ist ja im Grunde genommen eine erneute Wiedergabe des Edison Berichts. Aber klasse Aussichten für FEP. Ich hoffe, dass der Anteil von FEC an FEP nicht sinken wird. Das Potential bis zu 20 trillion cubic feet of gas ist gigantisch.
Gruß
Gruß
Antwort auf Beitrag Nr.: 39.573.400 von xxtsc am 24.05.10 11:46:02 Das Potential bis zu 20 trillion cubic feet of gas ist gigantisch.
Öl und Gasfunde sind ja rückläufig,deshalb werden wir noch sehr gute
zeiten erleben.
Öl und Gasfunde sind ja rückläufig,deshalb werden wir noch sehr gute
zeiten erleben.
Antwort auf Beitrag Nr.: 39.573.513 von hainholz am 24.05.10 12:08:34Öl findest du mittlerweile vor der Ostküste Florida's massig.
Null Reaktion auf diese Meldung!
Null Reaktion auf diese Meldung!
Antwort auf Beitrag Nr.: 39.582.429 von Grauewoelfe am 25.05.10 22:54:51das saugt sich jetzt der Costner rein
neue Männer an Board
liest sich ja gut ,was die so drauf haben.
FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FEC") is pleased to announce the appointment of Mr. Edward A. Tortorici and Mr. Carlo Pablo to the Board of Directors of the Company.
Mr. Tortorici has served in a variety of senior and executive management positions, including Corporate Vice President for Crocker Bank and Managing Director positions at Olivetti Corporation of America and Fairchild Semiconductor Corporation. Mr. Tortorici founded EA Edwards Associates, an international management and consulting firm specializing in strategy formulation and productivity improvement with offices in the USA, Europe and Middle East. In 1987 he joined First Pacific as an Executive Director for strategic planning and corporate restructuring and launched the Group's entry into the telecommunications and technology sectors. Presently he oversees corporate strategy for First Pacific and guides the Group's strategic planning and corporate development activities. Mr. Tortorici serves as a Commissioner of PT Indofood Sukses Makmur Tbk and a Director of Metro Pacific Investments Corporation, Maynilad Water Services, Inc., Philex Mining Corporation, Medical Doctors Inc., and Landco Pacific Corporation. He also serves as an Executive Advisor of MPIC companies located in the Philippines and as a Trustee of the Asia Society and the Metropolitan Museum of Manila.
Mr. Pablo has 24 years of oil and gas experience with Shell in the Philippines, Indonesia and Malaysia. His experience covers commercial and engineering roles in the downstream and upstream business. He has specialized in negotiation of petroleum contracts, gas commercialization, strategy and portfolio management, international business development, exploration and production economics, oil and gas marketing, and project management. From May 2010 to present Mr. Pablo has served as Chief Operating Officer of Philex Petroleum Corporation. From October 2005 to March 2010 he was Joint Venture Liaison and Commercial Economics Advisor for Shell Philippines Exploration BV and prior to that Team Leader Business Development for Indonesia, Shell International Gas and Power.
FEC Resources Inc. holds a diverse portfolio of oil, gas and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
On behalf of the Board of FEC Resources Inc.,
liest sich ja gut ,was die so drauf haben.
FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FEC") is pleased to announce the appointment of Mr. Edward A. Tortorici and Mr. Carlo Pablo to the Board of Directors of the Company.
Mr. Tortorici has served in a variety of senior and executive management positions, including Corporate Vice President for Crocker Bank and Managing Director positions at Olivetti Corporation of America and Fairchild Semiconductor Corporation. Mr. Tortorici founded EA Edwards Associates, an international management and consulting firm specializing in strategy formulation and productivity improvement with offices in the USA, Europe and Middle East. In 1987 he joined First Pacific as an Executive Director for strategic planning and corporate restructuring and launched the Group's entry into the telecommunications and technology sectors. Presently he oversees corporate strategy for First Pacific and guides the Group's strategic planning and corporate development activities. Mr. Tortorici serves as a Commissioner of PT Indofood Sukses Makmur Tbk and a Director of Metro Pacific Investments Corporation, Maynilad Water Services, Inc., Philex Mining Corporation, Medical Doctors Inc., and Landco Pacific Corporation. He also serves as an Executive Advisor of MPIC companies located in the Philippines and as a Trustee of the Asia Society and the Metropolitan Museum of Manila.
Mr. Pablo has 24 years of oil and gas experience with Shell in the Philippines, Indonesia and Malaysia. His experience covers commercial and engineering roles in the downstream and upstream business. He has specialized in negotiation of petroleum contracts, gas commercialization, strategy and portfolio management, international business development, exploration and production economics, oil and gas marketing, and project management. From May 2010 to present Mr. Pablo has served as Chief Operating Officer of Philex Petroleum Corporation. From October 2005 to March 2010 he was Joint Venture Liaison and Commercial Economics Advisor for Shell Philippines Exploration BV and prior to that Team Leader Business Development for Indonesia, Shell International Gas and Power.
FEC Resources Inc. holds a diverse portfolio of oil, gas and gold assets located in the Philippines through its shareholdings in Forum Energy Plc and Lascogon Mining Corporation.
On behalf of the Board of FEC Resources Inc.,
Antwort auf Beitrag Nr.: 39.622.089 von hainholz am 02.06.10 17:52:400.018 +0.0075 +80.00%
High prices boost Philex mine output
PDFPrintE-mail
Monday, 07 June 2010 00:00
AddThis Social Bookmark Button
PHILEX Mining Corp. said an increase in production and rising metal prices in the global market jacked up the value of its mineral output in the first five months of the year.
In a disclosure to the Philippine Stock Exchange, the country’s biggest mining firm said the ore output of its Padcal mine until end-May this year reached 3.61 million dry metric tons (DMT), up from 3.3 million DMT in the same five-month period last year.
John Ernesto Villaluna Jr., Philex president, said higher production as well as metal prices brought the estimated value of mineral output in the five-month period to P4.21 billion, up 16 percent from P3.64 billion in the same period last year.
For May alone, the mine’s production volume increased to 745,730 DMT from 552,566 DMT in the same month last year.
Last month’s output comprised of 8,714 ounces of gold, 2.56 million pounds of copper and 8,824 ounces of silver, as the 4,530 DMT of concentrates produced in Padcal had 59.77 grams per DMT of gold, 25.62 percent copper, and 60.59 gram per DMT of silver.
The value of May’s output went up by about a third to P867 million this year—of which P488 million was from gold, P371 million from copper and P8 million from silver—from P657 million last year.
The estimated value of production in May was based on provisional metal prices of $1,211 per ounce of gold, $3.14 per pound of copper and $18.53 per ounce of silver, at an exchange rate of P46.212 to $1, the company said.
Manuel Pangilinan, Philex chairman, had said that the company’s net income this year would “probably be higher” because of rising global prices of copper and gold.
Philex reported that consolidated net income in the first quarter of the year increased 17 percent to P521.3 million from P445.7 million in the same three-month period last year because of higher metal prices.
Ben Arnold O. De Vera
PDFPrintE-mail
Monday, 07 June 2010 00:00
AddThis Social Bookmark Button
PHILEX Mining Corp. said an increase in production and rising metal prices in the global market jacked up the value of its mineral output in the first five months of the year.
In a disclosure to the Philippine Stock Exchange, the country’s biggest mining firm said the ore output of its Padcal mine until end-May this year reached 3.61 million dry metric tons (DMT), up from 3.3 million DMT in the same five-month period last year.
John Ernesto Villaluna Jr., Philex president, said higher production as well as metal prices brought the estimated value of mineral output in the five-month period to P4.21 billion, up 16 percent from P3.64 billion in the same period last year.
For May alone, the mine’s production volume increased to 745,730 DMT from 552,566 DMT in the same month last year.
Last month’s output comprised of 8,714 ounces of gold, 2.56 million pounds of copper and 8,824 ounces of silver, as the 4,530 DMT of concentrates produced in Padcal had 59.77 grams per DMT of gold, 25.62 percent copper, and 60.59 gram per DMT of silver.
The value of May’s output went up by about a third to P867 million this year—of which P488 million was from gold, P371 million from copper and P8 million from silver—from P657 million last year.
The estimated value of production in May was based on provisional metal prices of $1,211 per ounce of gold, $3.14 per pound of copper and $18.53 per ounce of silver, at an exchange rate of P46.212 to $1, the company said.
Manuel Pangilinan, Philex chairman, had said that the company’s net income this year would “probably be higher” because of rising global prices of copper and gold.
Philex reported that consolidated net income in the first quarter of the year increased 17 percent to P521.3 million from P445.7 million in the same three-month period last year because of higher metal prices.
Ben Arnold O. De Vera
Philex sees higher profit on rising output
Thursday, 24 June 2010 00:00
BY KRISTA ANGELA M. MONTEALEGRE REPORTER
Philex Mining Corp. said it expects an increase in its core profit this year as higher output and metal prices offset lower ore grades. Manuel Pangilinan, chairman of the Philippines’ biggest mining concern, said the company sees a 10-percent rise in its core net income to P2 billion this year from P1.85 billion previously.
“We expect the tonnage to be somewhat higher this year, slightly higher than last year,” Pangilinan said on the sidelines of the company’s annual stockholders meeting.
“I think our problem is that the processing of the ore to concentrates is lower. Lower yield will be made up by the higher price. That’s why we’ve given a guidance of P2 billion,” he said.
Philex’s Padcal mine posted a 16-percent hike in the estimated value of mineral output in the first five months of the year to P4.21 billion from last year’s P3.64 billion.
Production value grew because of higher metal prices as well as a hike in the ore output of the mine to 3.61 million dry metric tons from 3.3 million at end-May last year.
In the first quarter this year, the company’s consolidated net income rose 17 percent to P521.3 million from last year’s P445.7 million.
Core net income grew by 36.8 percent to P520.1 million compared with last year’s P380.1 million, as stronger metal prices boosted operating revenue this year despite lower production volume for both copper and gold.
Pangilinan said Philex may have to shell out an initial $600 million to $800 million to bring the Silangan project into operation although this has yet to be confirmed by a feasibility study.
Philex plans to bring the Si-langan project into production “not later than 2015” or two years before the end of the life of the Padcal mine in 2017.
Jose Ernesto Villaluna Jr., Philex president, said he hopes that the Silangan project would have already been put in place and delivering ore as second source of revenue for the company before 2017.
Philex wants to be a dominant gold and copper producer in the region in the next 10 years with the acquisition of more mining properties or even companies.
“We’re looking at other mining opportunities so it’s difficult to be specific at this time,” Pangilinan said.
Shares in Philex were unchanged at P12.50 each.
Thursday, 24 June 2010 00:00
BY KRISTA ANGELA M. MONTEALEGRE REPORTER
Philex Mining Corp. said it expects an increase in its core profit this year as higher output and metal prices offset lower ore grades. Manuel Pangilinan, chairman of the Philippines’ biggest mining concern, said the company sees a 10-percent rise in its core net income to P2 billion this year from P1.85 billion previously.
“We expect the tonnage to be somewhat higher this year, slightly higher than last year,” Pangilinan said on the sidelines of the company’s annual stockholders meeting.
“I think our problem is that the processing of the ore to concentrates is lower. Lower yield will be made up by the higher price. That’s why we’ve given a guidance of P2 billion,” he said.
Philex’s Padcal mine posted a 16-percent hike in the estimated value of mineral output in the first five months of the year to P4.21 billion from last year’s P3.64 billion.
Production value grew because of higher metal prices as well as a hike in the ore output of the mine to 3.61 million dry metric tons from 3.3 million at end-May last year.
In the first quarter this year, the company’s consolidated net income rose 17 percent to P521.3 million from last year’s P445.7 million.
Core net income grew by 36.8 percent to P520.1 million compared with last year’s P380.1 million, as stronger metal prices boosted operating revenue this year despite lower production volume for both copper and gold.
Pangilinan said Philex may have to shell out an initial $600 million to $800 million to bring the Silangan project into operation although this has yet to be confirmed by a feasibility study.
Philex plans to bring the Si-langan project into production “not later than 2015” or two years before the end of the life of the Padcal mine in 2017.
Jose Ernesto Villaluna Jr., Philex president, said he hopes that the Silangan project would have already been put in place and delivering ore as second source of revenue for the company before 2017.
Philex wants to be a dominant gold and copper producer in the region in the next 10 years with the acquisition of more mining properties or even companies.
“We’re looking at other mining opportunities so it’s difficult to be specific at this time,” Pangilinan said.
Shares in Philex were unchanged at P12.50 each.
July 28 2010
Interim Results to 30 June 2010
Forum Energy, the UK incorporated oil and gas exploration and production company with a focus on the Philippines, today announces its unaudited interim results for the six months ended 30 June 2010.
Forum recorded a loss of US$285,000 for the six months ended 30 June 2010, a 77% decrease on the comparative period in 2009 of US$1,243,000.
This substantial reduction in the loss for the period was due to the following achievements:
· Full six months revenue from the Galoc field, increasing total revenues to US$2,528,000 (US$203,000 - 30 June 2009); and
· Increased share of revenue from the Galoc field, as the operator has now fully recovered development costs, which resulted in a gross profit of US$880,000, compared to gross loss in the six months ended 30 June 2009 of US$173,000.
Operational Highlights
· Company changing development via award of Service Contract 72 (SC72) over the GSEC101 licence area, as announced on 15 February 2010;
· The Company is actively considering a number of ways of progressing the contract work programme in respect of SC72;
· Galoc production of 1.6 million barrels of oil for first 6 months of 2010 (2.5 million barrels of oil gross for 12 months in 2009); and
· Further exploration using gravity survey, over the SC40 licence area.
Financial Highlights
· Revenues of US$2,528,000 (US$203,000 - 30 June 2009);
· Gross Profit of US$880,000 (Gross loss of US$173,000 - 30 June 2009);
· Loss before tax of US$285,000 (US$1,243,000 - 30 June 2009);
· Working capital of US$3.5 million as of 30 June 2010 (US$2.9m - 30 June 2009); and
· Continued reduction in administrative expenses.
For further information please contact:
Forum Energy Plc
Andrew Mullins, Executive Director Tel: +44 (0) 1932 445 344
Execution Noble & Company Limited
Harry Stockdale / John Llewellyn-Lloyd Tel: +44 (0) 20 7456 9191
Pelham Bell Pottinger
Nick Lambert / Henry Lerwill Tel: +44 (0) 20 7337 1500
Interim Results to 30 June 2010
Forum Energy, the UK incorporated oil and gas exploration and production company with a focus on the Philippines, today announces its unaudited interim results for the six months ended 30 June 2010.
Forum recorded a loss of US$285,000 for the six months ended 30 June 2010, a 77% decrease on the comparative period in 2009 of US$1,243,000.
This substantial reduction in the loss for the period was due to the following achievements:
· Full six months revenue from the Galoc field, increasing total revenues to US$2,528,000 (US$203,000 - 30 June 2009); and
· Increased share of revenue from the Galoc field, as the operator has now fully recovered development costs, which resulted in a gross profit of US$880,000, compared to gross loss in the six months ended 30 June 2009 of US$173,000.
Operational Highlights
· Company changing development via award of Service Contract 72 (SC72) over the GSEC101 licence area, as announced on 15 February 2010;
· The Company is actively considering a number of ways of progressing the contract work programme in respect of SC72;
· Galoc production of 1.6 million barrels of oil for first 6 months of 2010 (2.5 million barrels of oil gross for 12 months in 2009); and
· Further exploration using gravity survey, over the SC40 licence area.
Financial Highlights
· Revenues of US$2,528,000 (US$203,000 - 30 June 2009);
· Gross Profit of US$880,000 (Gross loss of US$173,000 - 30 June 2009);
· Loss before tax of US$285,000 (US$1,243,000 - 30 June 2009);
· Working capital of US$3.5 million as of 30 June 2010 (US$2.9m - 30 June 2009); and
· Continued reduction in administrative expenses.
For further information please contact:
Forum Energy Plc
Andrew Mullins, Executive Director Tel: +44 (0) 1932 445 344
Execution Noble & Company Limited
Harry Stockdale / John Llewellyn-Lloyd Tel: +44 (0) 20 7456 9191
Pelham Bell Pottinger
Nick Lambert / Henry Lerwill Tel: +44 (0) 20 7337 1500
Antwort auf Beitrag Nr.: 39.889.911 von xxtsc am 28.07.10 14:45:19Verluste gut abgebaut
Antwort auf Beitrag Nr.: 39.891.404 von hainholz am 28.07.10 17:45:04Jo, das sieht gut, wünsche mir baldige Palawan-News. Offenbar will die Regierung bereits vergebene Lizensen nochmals prüfen:
Almendras orders review of all petroleum service contracts
Philippine Star
Posted at 07/29/2010 9:49 AM | Updated as of 07/29/2010 1:21 PM
MANILA, Philippines - Energy Secretary Jose Rene Almendras has ordered a review of all petroleum service contracts entered into by the department over the past years.
Almendras told reporters that this move is consistent with President Aquino’s mandate of a level playing field on all government projects.
He said this will also be compliant with the overall objective of promoting transparency in all transactions entered into by the government, including the energy sector.
"We are reviewing all the service contracts. I have announced [to] the agencies already. I want to understand all the awarding of the service contracts,” he said.
The DOE recently signed an agreement with UK-based Forum Energy Plc to finally convert its geophysical survey exploration contract (GSEC) 101 to Service Contract 72.
Almendras said this contract will also be looked into since there were controversies before it was awarded.
Since 2005, the department has engaged in public contracting rounds in an effort to make the bidding of energy contracts more transparent.
So far, there are 13 petroleum service contracts, 19 coal operating contracts and a handful of geothermal exploration development and exploration contracts worth well over P1 billion in investments were awarded by the department.
Over a hundred renewable energy service contracts were also signed by the DOE in recent months.
Alemendras said if irregularities are proven, the department will take the appropriate actions.
Sources said reviewing existing contracts would send the wrong signals to investors as this may lead to changes in government rules and agreements.
But the DOE is confident that the review will only be viewed as part of the new administration’s move to weed out corruption in the system.
Almendras orders review of all petroleum service contracts
Philippine Star
Posted at 07/29/2010 9:49 AM | Updated as of 07/29/2010 1:21 PM
MANILA, Philippines - Energy Secretary Jose Rene Almendras has ordered a review of all petroleum service contracts entered into by the department over the past years.
Almendras told reporters that this move is consistent with President Aquino’s mandate of a level playing field on all government projects.
He said this will also be compliant with the overall objective of promoting transparency in all transactions entered into by the government, including the energy sector.
"We are reviewing all the service contracts. I have announced [to] the agencies already. I want to understand all the awarding of the service contracts,” he said.
The DOE recently signed an agreement with UK-based Forum Energy Plc to finally convert its geophysical survey exploration contract (GSEC) 101 to Service Contract 72.
Almendras said this contract will also be looked into since there were controversies before it was awarded.
Since 2005, the department has engaged in public contracting rounds in an effort to make the bidding of energy contracts more transparent.
So far, there are 13 petroleum service contracts, 19 coal operating contracts and a handful of geothermal exploration development and exploration contracts worth well over P1 billion in investments were awarded by the department.
Over a hundred renewable energy service contracts were also signed by the DOE in recent months.
Alemendras said if irregularities are proven, the department will take the appropriate actions.
Sources said reviewing existing contracts would send the wrong signals to investors as this may lead to changes in government rules and agreements.
But the DOE is confident that the review will only be viewed as part of the new administration’s move to weed out corruption in the system.
Wow...über 2Mio.Stück heute bereits gehandelt....leider bei stark fallenden Kurs.!Mio. bei 0,0025 Cent rausgehauen.Da liegt was im argen.
Antwort auf Beitrag Nr.: 39.937.627 von Grauewoelfe am 05.08.10 20:19:54Abwarten, extreme Kursschwankungen sind bei FEC normal. Glaube nicht, dass was dahintersteckt. Dazu ist das Volumen zu gering. Leider kommen von FEP keine News.
Antwort auf Beitrag Nr.: 39.937.926 von xxtsc am 05.08.10 21:07:37Also vorhin waren es 2 Mio.Stücke die umgesetzt worden sind und zu 0,025 hat einer 1Mio. vertickt.Sonst sind die Umsätze deutlich geringer,falls überhaupt Umsatz ist.Da müssen wohl einige die Nerven verloren haben,oder es gibt schlechte News.
Antwort auf Beitrag Nr.: 39.937.627 von Grauewoelfe am 05.08.10 20:19:54 0.005 10000 OBB 14:52:40
0.0025 1057392 OBB 12:47:28
0.0032 50000 OBB 12:00:34
0.0045 20000 OBB 11:59:56
0.0045 20000 OBB 11:59:54
0.0045 5000 OBB 11:59:07
0.005 5000 OBB 11:58:59
0.005 5000 OBB 11:58:55
0.0052 38000 OBB 11:09:22
0.0052 25000 OBB 10:52:30
0.0052 22500 OBB 10:51:03
0.0052 20000 OBB 10:48:20
0.0052 15000 OBB 10:44:35
0.005 50000 OBB 10:23:05
0.0052 106000 OBB 10:22:56
0.0052 50000 OBB 09:51:23
0.0052 250000 OBB 09:47:13
0.0052 20000 OBB 09:44:42
0.0055 45000 OBB 09:32:07
0.006 42095 OBB 09:30:25
0.0062 20000 OBB 09:30:23
Die Trades bis jetzt. Ein echtes Schnäppchen, die Mille zu 0,0025!
0.0025 1057392 OBB 12:47:28
0.0032 50000 OBB 12:00:34
0.0045 20000 OBB 11:59:56
0.0045 20000 OBB 11:59:54
0.0045 5000 OBB 11:59:07
0.005 5000 OBB 11:58:59
0.005 5000 OBB 11:58:55
0.0052 38000 OBB 11:09:22
0.0052 25000 OBB 10:52:30
0.0052 22500 OBB 10:51:03
0.0052 20000 OBB 10:48:20
0.0052 15000 OBB 10:44:35
0.005 50000 OBB 10:23:05
0.0052 106000 OBB 10:22:56
0.0052 50000 OBB 09:51:23
0.0052 250000 OBB 09:47:13
0.0052 20000 OBB 09:44:42
0.0055 45000 OBB 09:32:07
0.006 42095 OBB 09:30:25
0.0062 20000 OBB 09:30:23
Die Trades bis jetzt. Ein echtes Schnäppchen, die Mille zu 0,0025!
Philex said that Forum Energy’s revenues came primarily from its share of production from the Galoc oil field offshore from northwest Palawan island.
Philex Mining Corp. on Thursday said its profit for the first six months of the year slipped lower despite the increase in oil production and higher metal prices. The country’s biggest mining firm disclosed to the Philippine Stock Exchange that its unaudited consolidated net income decreased by 14.3 percent to P965 million from P1.126 billion in the first semester of 2009. Philex said last year’s earnings benefited from a non-recurring gain of P330 million from currency hedging transactions.
The mining company said that its consolidated revenues rose 10.1 percent to P4.860 billion from P4.414 billion a year earlier as copper revenues increased 27.7 percent to P2.231 billion from P1.747 billion. Gold revenues, however, fell 6 percent to P2.457 billion from P2.617 billion, owing largely to the lower ore quality that offset the rise in the metal’s prices.
Consolidated revenues this year also included petroleum revenues of P116.1 million, up nearly 12 times from P9.7 million a year earlier, from Forum Energy PLC (FEP), a 52-percent owned subsidiary.
Coal revenues of P14.1 million from wholly-owned subsidiary, Brixton Energy & Mining Corp., also propped up first-semester revenues. Brixton Energy is projected to commence commercial operations in the fourth quarter of this year.
Philex said that Forum Energy’s revenues came primarily from its share of production from the Galoc oil field offshore from northwest Palawan island. Brixton Energy’s revenues, on the other hand, were derived from the sale of its coal purchases.
Marketing charges rose to P309.9 million from P301.1 million and operating costs and expenses rose to P3.105 billion from P2.820 billion. Higher revenues offset those increases, driving an 11.8-percent rise in income from operations to P1.445 billion this year compared with P1.292 billion last year.
“While ore grades were disappointing in the first half of the year, we are confident that the second half of the year will be boosted by higher metal prices and better-quality ore which we are already mining now, as well as by the continuing greater contribution from our energy operations,” Manuel Pangi-linan, Philex chairman and chief executive, said in a statement.
According to the firm, the average copper price is currently above $3.30 per pound, while the price of gold is currently above $1,180 per troy ounce.
“With respect to production from the Padcal Mine for the remaining six months of 2010, we expect to have both greater volume and greater quality of ore than in the first half of the year,” Jose Ernesto Villaluna Jr., Philex president and chief operating officer, said.
“We are opening up new draw points which promise to deliver higher-quality ore in greater volumes,” he added.
Pangilinan, on the other hand, said that the development phase of the Silangan mine project will start by next year. The Silangan copper-gold mine in Surigao del Sur is estimated to hold much higher resources than Philex’s Padcal Mine, which has been in operation for half a century.
“Silangan will play a key role in building a bright future for Philex,” he said.
Pangilinan also announced that Philex’s board approved an interim dividend of 5 centavos per share, representing about a quarter of our recurrent earnings.
Philex Mining Corp. on Thursday said its profit for the first six months of the year slipped lower despite the increase in oil production and higher metal prices. The country’s biggest mining firm disclosed to the Philippine Stock Exchange that its unaudited consolidated net income decreased by 14.3 percent to P965 million from P1.126 billion in the first semester of 2009. Philex said last year’s earnings benefited from a non-recurring gain of P330 million from currency hedging transactions.
The mining company said that its consolidated revenues rose 10.1 percent to P4.860 billion from P4.414 billion a year earlier as copper revenues increased 27.7 percent to P2.231 billion from P1.747 billion. Gold revenues, however, fell 6 percent to P2.457 billion from P2.617 billion, owing largely to the lower ore quality that offset the rise in the metal’s prices.
Consolidated revenues this year also included petroleum revenues of P116.1 million, up nearly 12 times from P9.7 million a year earlier, from Forum Energy PLC (FEP), a 52-percent owned subsidiary.
Coal revenues of P14.1 million from wholly-owned subsidiary, Brixton Energy & Mining Corp., also propped up first-semester revenues. Brixton Energy is projected to commence commercial operations in the fourth quarter of this year.
Philex said that Forum Energy’s revenues came primarily from its share of production from the Galoc oil field offshore from northwest Palawan island. Brixton Energy’s revenues, on the other hand, were derived from the sale of its coal purchases.
Marketing charges rose to P309.9 million from P301.1 million and operating costs and expenses rose to P3.105 billion from P2.820 billion. Higher revenues offset those increases, driving an 11.8-percent rise in income from operations to P1.445 billion this year compared with P1.292 billion last year.
“While ore grades were disappointing in the first half of the year, we are confident that the second half of the year will be boosted by higher metal prices and better-quality ore which we are already mining now, as well as by the continuing greater contribution from our energy operations,” Manuel Pangi-linan, Philex chairman and chief executive, said in a statement.
According to the firm, the average copper price is currently above $3.30 per pound, while the price of gold is currently above $1,180 per troy ounce.
“With respect to production from the Padcal Mine for the remaining six months of 2010, we expect to have both greater volume and greater quality of ore than in the first half of the year,” Jose Ernesto Villaluna Jr., Philex president and chief operating officer, said.
“We are opening up new draw points which promise to deliver higher-quality ore in greater volumes,” he added.
Pangilinan, on the other hand, said that the development phase of the Silangan mine project will start by next year. The Silangan copper-gold mine in Surigao del Sur is estimated to hold much higher resources than Philex’s Padcal Mine, which has been in operation for half a century.
“Silangan will play a key role in building a bright future for Philex,” he said.
Pangilinan also announced that Philex’s board approved an interim dividend of 5 centavos per share, representing about a quarter of our recurrent earnings.
Heute rockt das teil aber ganz schön ab!
Irgendwelche Gerüchte oder News im Umlauf?
Irgendwelche Gerüchte oder News im Umlauf?
Antwort auf Beitrag Nr.: 40.077.883 von Grauewoelfe am 31.08.10 21:32:20Bisher keine News. Da FEP nach nicht den schlechten News aus den Philippinen nicht abverkauft wurde war der Kursrutsch bei FEC nicht nachzuvollziehen. Die Beteiligung an FEP war nichts mehr wert, heute wurde das korrigiert.
He said the DOE is now starting the review of these exploration contracts.
"Within the DOE, there's already a group that's reviewing those contracts. We're also trying to make sure that we interact with the stakeholders," he said.
The energy secretary, however, said he is not yet aware if the review will involve Service Contract 72.
"No, I haven't gotten to the details of that yet. I will answer that at a more appropriate time and not now," he said. "I cannot comment yet on that one, as don't have the full details of that yet."
UK-based Forum Energy Plc, operator of SC 72, is expected to pour in some $3 billion to be able to fully extract the potential reserves at the said SC (formerly Geophysical Survey and Exploration Contract 101) in the Reed Bank basin, an investment research firm said.
Edison Investment Research Ltd, commissioned by Forum Energy to conduct a research report, said Forum may need to invest around this much or close to the Malampaya natural gas project consortium's investment of $4.5 billion to be able to develop into commercial production SC 72 which is within the gas-rich Sampaguita field in the South China Sea near Palawan.
"The Malampaya consortium, which includes Shell, has already recovered the $4.5 billion investment since the field became operational in 2001...This would suggest a $3 billion price tag for a resource similar to Sampaguita with all the infrastructure in place," the report said.
The report noted that the Sampaguita field under service contract 72 (formerly GSEC 101), is estimated to hold 3.5 trillion cubic feet (tcf) of gas in place while the Malampaya gas field contains around 3 tcf of gas and 40 million barrels of recoverable oil reserves.
Edison Investment Research further noted that Forum's funding risks are significantly mitigated by its current shareholder structure. Philex Mining Corp. currently owns 65 percent of Forum. Philiex is controlled by First Pacific Company, which last year generated $3.9 billion of sales and $335 million of operating profit.
"First Pacific provides Philex access to a strong balance sheet, suggesting that funding risks are significantly mitigated," it said.
The investment research firm said the Sampaguita discovery is a "potentially value-changing asset" and adds a significant value to Forum Energy's entire oil and gas portfolio.
http://www.philstar.com/Article.aspx?articleId=605221&public…
"Within the DOE, there's already a group that's reviewing those contracts. We're also trying to make sure that we interact with the stakeholders," he said.
The energy secretary, however, said he is not yet aware if the review will involve Service Contract 72.
"No, I haven't gotten to the details of that yet. I will answer that at a more appropriate time and not now," he said. "I cannot comment yet on that one, as don't have the full details of that yet."
UK-based Forum Energy Plc, operator of SC 72, is expected to pour in some $3 billion to be able to fully extract the potential reserves at the said SC (formerly Geophysical Survey and Exploration Contract 101) in the Reed Bank basin, an investment research firm said.
Edison Investment Research Ltd, commissioned by Forum Energy to conduct a research report, said Forum may need to invest around this much or close to the Malampaya natural gas project consortium's investment of $4.5 billion to be able to develop into commercial production SC 72 which is within the gas-rich Sampaguita field in the South China Sea near Palawan.
"The Malampaya consortium, which includes Shell, has already recovered the $4.5 billion investment since the field became operational in 2001...This would suggest a $3 billion price tag for a resource similar to Sampaguita with all the infrastructure in place," the report said.
The report noted that the Sampaguita field under service contract 72 (formerly GSEC 101), is estimated to hold 3.5 trillion cubic feet (tcf) of gas in place while the Malampaya gas field contains around 3 tcf of gas and 40 million barrels of recoverable oil reserves.
Edison Investment Research further noted that Forum's funding risks are significantly mitigated by its current shareholder structure. Philex Mining Corp. currently owns 65 percent of Forum. Philiex is controlled by First Pacific Company, which last year generated $3.9 billion of sales and $335 million of operating profit.
"First Pacific provides Philex access to a strong balance sheet, suggesting that funding risks are significantly mitigated," it said.
The investment research firm said the Sampaguita discovery is a "potentially value-changing asset" and adds a significant value to Forum Energy's entire oil and gas portfolio.
http://www.philstar.com/Article.aspx?articleId=605221&public…
Antwort auf Beitrag Nr.: 40.077.883 von Grauewoelfe am 31.08.10 21:32:20FEC Resources, Inc. Reports Ungeprüfte konsolidierte Ergebnisse für das zweite Quartal und das Halbjahr zum 30. Juni 2010
2010.08.30
FEC Resources, Inc. berichtet ungeprüften konsolidierten Ergebnisse für das zweite Quartal und das Halbjahr zum 30. Juni 2010. Für das vierte Quartal wies das Unternehmen einen Nettogewinn und comprehensive income wurde 56.234 CAD verglichen mit einem Nettoverlust und umfassenden Verlust von EUR 226.753 für den gleichen Zeitraum vor einem Jahr. Cashflow aus laufender Geschäftstätigkeit war im Vergleich zu EUR 53.499 EUR 130.653 für den gleichen Zeitraum vor einem Jahr. Die Zugänge zu Immobilien, Anlagen und Ausrüstung, netto waren im Vergleich zu EUR 1.859 für den gleichen Zeitraum vor einem Jahr Null. Für die sechs Monate zum 30. Juni 2010 berichtete das Unternehmen einen Netto-Verlust und umfassenden Verlust wurde um 241.006 CAD CAD 676.005 im Vergleich zum gleichen Zeitraum vor einem Jahr. Cashflow aus laufender Geschäftstätigkeit war im Vergleich zu EUR 181.201 EUR 194.667 für den gleichen Zeitraum vor einem Jahr. Die Zugänge zu Immobilien, Anlagen und Ausrüstung, netto waren im Vergleich zu EUR 1.859 für den gleichen Zeitraum vor einem Jahr Null.
2010.08.30
FEC Resources, Inc. berichtet ungeprüften konsolidierten Ergebnisse für das zweite Quartal und das Halbjahr zum 30. Juni 2010. Für das vierte Quartal wies das Unternehmen einen Nettogewinn und comprehensive income wurde 56.234 CAD verglichen mit einem Nettoverlust und umfassenden Verlust von EUR 226.753 für den gleichen Zeitraum vor einem Jahr. Cashflow aus laufender Geschäftstätigkeit war im Vergleich zu EUR 53.499 EUR 130.653 für den gleichen Zeitraum vor einem Jahr. Die Zugänge zu Immobilien, Anlagen und Ausrüstung, netto waren im Vergleich zu EUR 1.859 für den gleichen Zeitraum vor einem Jahr Null. Für die sechs Monate zum 30. Juni 2010 berichtete das Unternehmen einen Netto-Verlust und umfassenden Verlust wurde um 241.006 CAD CAD 676.005 im Vergleich zum gleichen Zeitraum vor einem Jahr. Cashflow aus laufender Geschäftstätigkeit war im Vergleich zu EUR 181.201 EUR 194.667 für den gleichen Zeitraum vor einem Jahr. Die Zugänge zu Immobilien, Anlagen und Ausrüstung, netto waren im Vergleich zu EUR 1.859 für den gleichen Zeitraum vor einem Jahr Null.
in original
FEC Resources, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2010
08/30/2010
FEC Resources, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2010. For the quarter, the company reported net income and comprehensive income was CAD 56,234 compared to net loss and comprehensive loss of CAD 226,753 for the same period a year ago. Cash used in operating activities were CAD 53,499 compared to CAD 130,653 for the same period a year ago. Additions to properties, plant and equipment, net were nil compared to CAD 1,859 for the same period a year ago. For the six months ended June 30, 2010, the company reported net loss and comprehensive loss was CAD 241,006 compared to CAD 676,005 for the same period a year ago. Cash used in operating activities were CAD 181,201 compared to CAD 194,667 for the same period a year ago. Additions to properties, plant and equipment, net were nil compared to CAD 1,859 for the same period a year ago.
FEC Resources, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2010
08/30/2010
FEC Resources, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2010. For the quarter, the company reported net income and comprehensive income was CAD 56,234 compared to net loss and comprehensive loss of CAD 226,753 for the same period a year ago. Cash used in operating activities were CAD 53,499 compared to CAD 130,653 for the same period a year ago. Additions to properties, plant and equipment, net were nil compared to CAD 1,859 for the same period a year ago. For the six months ended June 30, 2010, the company reported net loss and comprehensive loss was CAD 241,006 compared to CAD 676,005 for the same period a year ago. Cash used in operating activities were CAD 181,201 compared to CAD 194,667 for the same period a year ago. Additions to properties, plant and equipment, net were nil compared to CAD 1,859 for the same period a year ago.
Antwort auf Beitrag Nr.: 40.135.819 von hainholz am 11.09.10 08:08:52THX!
in London gestern und heut zusammen 21% auffi !!
OIL production from Galoc in offshore Northwest Palawan hit half of its estimated total capacity, as the consortium running the field prepares for the possible drilling of additional wells. In a report, Nido Petroleum Ltd. said that the Galoc field has produced 5.13 million barrels of oil equivalent to a daily output of 8,642 barrels a day since it started operations in late 2008 until June of this year.
“A total crude oil volume of [1.68] million barrels was offloaded from the [Floating, Production, Storage and Offloading vessel] during the first half of 2010,” the company said.
Nido is an Australian firm with a minority interest in Galoc, which is operated by Galoc Production Co. (GPC).
The latter is a joint venture of Otto Energy Ltd. of Australia and Europe’s the Vitol Group.
Aside from Nido, GPC’s partners in Galoc are The Philodrill Corp., Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp. and Forum Energy Philippines Corp.
Prior to its operations, the Galoc consortium initially estimated the field to hold reserves of up to 10 million barrels of oil.
The Galoc consortium is reviewing further developments in the field, which would involve the possible drilling of additional wells to jack up production.
GPC and its partners, in particular, are evaluating reprocessed 3D seismic data covering the petroleum block although they already identified a number of drilling locations through their workshops.
The consortium expects to decide on Galoc’s next development phase within the month.
“A total crude oil volume of [1.68] million barrels was offloaded from the [Floating, Production, Storage and Offloading vessel] during the first half of 2010,” the company said.
Nido is an Australian firm with a minority interest in Galoc, which is operated by Galoc Production Co. (GPC).
The latter is a joint venture of Otto Energy Ltd. of Australia and Europe’s the Vitol Group.
Aside from Nido, GPC’s partners in Galoc are The Philodrill Corp., Oriental Petroleum & Minerals Corp./Linapacan Oil Gas & Power Corp. and Forum Energy Philippines Corp.
Prior to its operations, the Galoc consortium initially estimated the field to hold reserves of up to 10 million barrels of oil.
The Galoc consortium is reviewing further developments in the field, which would involve the possible drilling of additional wells to jack up production.
GPC and its partners, in particular, are evaluating reprocessed 3D seismic data covering the petroleum block although they already identified a number of drilling locations through their workshops.
The consortium expects to decide on Galoc’s next development phase within the month.
FEC Resources' Free Cash Flow Hits Two Year High
09/17/2010
New York, NY, September 17, 2010-Free-Cash-News reports that negative Free Cash Flow for FEC Resources, Inc. (OTC:FECO.F) for its quarter ended June 30, 2010 was $(51,049), a 60% improvement over the year earlier same quarter when FEC Resources generated $(126,443) in negative Free Cash Flow. According to Free-Cash-News FEC Resources has generated ten consecutive quarters of negative Free Cash Flow. Free Cash Flow for the most recent quarter also reached a two year high.
For FEC Resources' twelve months ended June 30, 2010 Free Cash Flow was $(407,656), compared with $(480,314), a 15.1% improvement over the comparable year earlier twelve months. Free Cash Flow for the most recent twelve months also reached a five year high.
The shares of FEC Resources were recently trading at $0.01.
Free-Cash-News utilizes the following definition or calculation for its published Free Cash Flow news and reports:
Free cash flow is defined as cash flow from operations or operating cash flow plus or minus capital expenditures. "Capital Expenditures" is a line item, which can be found in the Cash Flow From Investments section of a company's Cash Flow Statement which is filed quarterly in the 10Q and 10K reports that are required to be filed by publicly traded companies with the U.S. Securities & Exchange Commission.
Free-Cash-News publishes quarterly updates on Free Cash Flow for approximately 8,200 publicly traded U.S. companies. It also monitors and publishes news and special reports on 216 industry groups. More information on Free-Cash-News is available at www.StockTrendNews.com.
09/17/2010
New York, NY, September 17, 2010-Free-Cash-News reports that negative Free Cash Flow for FEC Resources, Inc. (OTC:FECO.F) for its quarter ended June 30, 2010 was $(51,049), a 60% improvement over the year earlier same quarter when FEC Resources generated $(126,443) in negative Free Cash Flow. According to Free-Cash-News FEC Resources has generated ten consecutive quarters of negative Free Cash Flow. Free Cash Flow for the most recent quarter also reached a two year high.
For FEC Resources' twelve months ended June 30, 2010 Free Cash Flow was $(407,656), compared with $(480,314), a 15.1% improvement over the comparable year earlier twelve months. Free Cash Flow for the most recent twelve months also reached a five year high.
The shares of FEC Resources were recently trading at $0.01.
Free-Cash-News utilizes the following definition or calculation for its published Free Cash Flow news and reports:
Free cash flow is defined as cash flow from operations or operating cash flow plus or minus capital expenditures. "Capital Expenditures" is a line item, which can be found in the Cash Flow From Investments section of a company's Cash Flow Statement which is filed quarterly in the 10Q and 10K reports that are required to be filed by publicly traded companies with the U.S. Securities & Exchange Commission.
Free-Cash-News publishes quarterly updates on Free Cash Flow for approximately 8,200 publicly traded U.S. companies. It also monitors and publishes news and special reports on 216 industry groups. More information on Free-Cash-News is available at www.StockTrendNews.com.
hat sich da einer vertan
Antwort auf Beitrag Nr.: 40.187.342 von hainholz am 21.09.10 19:26:486k Umsatz, da wollte wohl einer das Depot für einen Tag pushen!
Philex consolidates energy assets in unit
PDFPrintE-mail
Tuesday, 28 September 2010 00:00
AddThis Social Bookmark Button
Philex Mining Corp. has consolidated its energy assets into its wholly owned subsidiary Philex Petroleum Corp. (PPC). In a disclosure to the Philippine Stock Exchange, Philex said that it transferred its shareholdings in a
number of energy exploration units to PPC.
This includes its 15.75 percent stake in Pitkin Petroleum Corp., a US-based oil and gas exploration and development firm with interests in the Philippines, Vietnam, Peru and the US.
Also folded into PPC is the 51.24 percent ownership in FEC Resources Inc., a Canadian firm with 25.63 percent holdings in Forum Energy Plc, as well as Philex’s 38.82 percent stake in FEC.
Forum Energy is a UK-based firm that has a 70 percent interest in Service Contract (SC) 72, which covers the Sampaguita gas fields in offshore Northwest Palawan Basin.
Aside from the said petroleum asset, Philex received the Department of Energy’s approval for the transfer of its interests in SC 41 in South Sulu Sea (2.264 percent), SC 6 in the Cadlao (1.65 percent), and SC 6A in the Octon (5.6 percent) exploration blocks in offshore Palawan.
Philex likewise turned over to PPC its 100 percent control of Brixton Energy Mining Corp. The latter is a local coal-mining firm, which holds Coal Operating Contract 130 covering areas in Diplahan and Buug in the province of Zamboanga Sibugay.
The above transfers are pursuant to an internal reorganization whereby all of Philex’s energy assets are to be
held through PPC, Jose Ernesto Villaluna, Philex president and chief operating officer, said.
Philex shares closed lower Monday at P14.88 a piece from its previous close of P15.6.
PDFPrintE-mail
Tuesday, 28 September 2010 00:00
AddThis Social Bookmark Button
Philex Mining Corp. has consolidated its energy assets into its wholly owned subsidiary Philex Petroleum Corp. (PPC). In a disclosure to the Philippine Stock Exchange, Philex said that it transferred its shareholdings in a
number of energy exploration units to PPC.
This includes its 15.75 percent stake in Pitkin Petroleum Corp., a US-based oil and gas exploration and development firm with interests in the Philippines, Vietnam, Peru and the US.
Also folded into PPC is the 51.24 percent ownership in FEC Resources Inc., a Canadian firm with 25.63 percent holdings in Forum Energy Plc, as well as Philex’s 38.82 percent stake in FEC.
Forum Energy is a UK-based firm that has a 70 percent interest in Service Contract (SC) 72, which covers the Sampaguita gas fields in offshore Northwest Palawan Basin.
Aside from the said petroleum asset, Philex received the Department of Energy’s approval for the transfer of its interests in SC 41 in South Sulu Sea (2.264 percent), SC 6 in the Cadlao (1.65 percent), and SC 6A in the Octon (5.6 percent) exploration blocks in offshore Palawan.
Philex likewise turned over to PPC its 100 percent control of Brixton Energy Mining Corp. The latter is a local coal-mining firm, which holds Coal Operating Contract 130 covering areas in Diplahan and Buug in the province of Zamboanga Sibugay.
The above transfers are pursuant to an internal reorganization whereby all of Philex’s energy assets are to be
held through PPC, Jose Ernesto Villaluna, Philex president and chief operating officer, said.
Philex shares closed lower Monday at P14.88 a piece from its previous close of P15.6.
Philex consolidates energy assets in unit
PDFPrintE-mail
Tuesday, 28 September 2010 00:00
AddThis Social Bookmark Button
Philex Mining Corp. has consolidated its energy assets into its wholly owned subsidiary Philex Petroleum Corp. (PPC). In a disclosure to the Philippine Stock Exchange, Philex said that it transferred its shareholdings in a
number of energy exploration units to PPC.
This includes its 15.75 percent stake in Pitkin Petroleum Corp., a US-based oil and gas exploration and development firm with interests in the Philippines, Vietnam, Peru and the US.
Also folded into PPC is the 51.24 percent ownership in FEC Resources Inc., a Canadian firm with 25.63 percent holdings in Forum Energy Plc, as well as Philex’s 38.82 percent stake in FEC.
Forum Energy is a UK-based firm that has a 70 percent interest in Service Contract (SC) 72, which covers the Sampaguita gas fields in offshore Northwest Palawan Basin.
Aside from the said petroleum asset, Philex received the Department of Energy’s approval for the transfer of its interests in SC 41 in South Sulu Sea (2.264 percent), SC 6 in the Cadlao (1.65 percent), and SC 6A in the Octon (5.6 percent) exploration blocks in offshore Palawan.
Philex likewise turned over to PPC its 100 percent control of Brixton Energy Mining Corp. The latter is a local coal-mining firm, which holds Coal Operating Contract 130 covering areas in Diplahan and Buug in the province of Zamboanga Sibugay.
The above transfers are pursuant to an internal reorganization whereby all of Philex’s energy assets are to be
held through PPC, Jose Ernesto Villaluna, Philex president and chief operating officer, said.
Philex shares closed lower Monday at P14.88 a piece from its previous close of P15.6.
PDFPrintE-mail
Tuesday, 28 September 2010 00:00
AddThis Social Bookmark Button
Philex Mining Corp. has consolidated its energy assets into its wholly owned subsidiary Philex Petroleum Corp. (PPC). In a disclosure to the Philippine Stock Exchange, Philex said that it transferred its shareholdings in a
number of energy exploration units to PPC.
This includes its 15.75 percent stake in Pitkin Petroleum Corp., a US-based oil and gas exploration and development firm with interests in the Philippines, Vietnam, Peru and the US.
Also folded into PPC is the 51.24 percent ownership in FEC Resources Inc., a Canadian firm with 25.63 percent holdings in Forum Energy Plc, as well as Philex’s 38.82 percent stake in FEC.
Forum Energy is a UK-based firm that has a 70 percent interest in Service Contract (SC) 72, which covers the Sampaguita gas fields in offshore Northwest Palawan Basin.
Aside from the said petroleum asset, Philex received the Department of Energy’s approval for the transfer of its interests in SC 41 in South Sulu Sea (2.264 percent), SC 6 in the Cadlao (1.65 percent), and SC 6A in the Octon (5.6 percent) exploration blocks in offshore Palawan.
Philex likewise turned over to PPC its 100 percent control of Brixton Energy Mining Corp. The latter is a local coal-mining firm, which holds Coal Operating Contract 130 covering areas in Diplahan and Buug in the province of Zamboanga Sibugay.
The above transfers are pursuant to an internal reorganization whereby all of Philex’s energy assets are to be
held through PPC, Jose Ernesto Villaluna, Philex president and chief operating officer, said.
Philex shares closed lower Monday at P14.88 a piece from its previous close of P15.6.
700 % up
gewaltig
gewaltig
Antwort auf Beitrag Nr.: 40.258.632 von hainholz am 04.10.10 12:15:57As discussed in Item 3, on September 24, 2010, Philex Mining entered into a Transfer Agreement with Philex Petroleum whereby Philex Mining sold 225,000,000 shares of Common Stock to Philex Petroleum for an aggregate purchase price of 342,337,698.00 pesos or approximately 1.52 pesos per share of Common Stock. Such securities, in the aggregate, constitutes approximately 51.2 percent of the outstanding Common Stock of FEC, based on 439,143,765 shares of Common Stock of FEC as reported on FEC’s annual report on Form 20-F filed with the Securities Exchange Commission on July 15, 2010.
1 PHP = 0,01659 EUR
1 PHP = 0,02297 USD
Somit sind die Shares zu einem über den Börsenpreis liegenden Preis übertragen worden. Demnach müsste der Sharepreis 0.03 USD sein statt 0,007 USD.
1 PHP = 0,01659 EUR
1 PHP = 0,02297 USD
Somit sind die Shares zu einem über den Börsenpreis liegenden Preis übertragen worden. Demnach müsste der Sharepreis 0.03 USD sein statt 0,007 USD.
Antwort auf Beitrag Nr.: 40.269.705 von xxtsc am 05.10.10 21:21:03ja kriegen die da drüben sowas nicht mit?
Antwort auf Beitrag Nr.: 40.269.938 von hainholz am 05.10.10 21:50:20Na ja, typisch OTC, erst unterbewertet rumdümpeln und dann an einem Tag abheben. Darauf warten wir doch oder?
Antwort auf Beitrag Nr.: 40.270.145 von xxtsc am 05.10.10 22:14:18der Tag wird kommen und dann gewaltig
Antwort auf Beitrag Nr.: 40.272.568 von hainholz am 06.10.10 11:31:38warum ist eigentlich seit tagen kein umsatz otcbb
0.012 +0.004 +50.00%
UK-Forum Energy plc heute: - 30%
This is the RHPS sell recommendation from Bulford:
"I am going to call time today on FORUM ENERGY (FEP).
Two things make me uncomfortable about Forum. The first is that, because of the development of the USA’s shale gas fields the price of gas is low relative to its historic relationship with oil and seems destined to stay that way.
My second concern is that the future of Forum seems to be being decided in the Philippines and frankly I doubt that the majority Filipino shareholders and the country’s government officials have UK private shareholders at the top of their list of priorities. I am uneasy here, so SELL.
Bulford verlässt sich auf sein Bauchgefühl und rät zum Verkauf.
This is the RHPS sell recommendation from Bulford:
"I am going to call time today on FORUM ENERGY (FEP).
Two things make me uncomfortable about Forum. The first is that, because of the development of the USA’s shale gas fields the price of gas is low relative to its historic relationship with oil and seems destined to stay that way.
My second concern is that the future of Forum seems to be being decided in the Philippines and frankly I doubt that the majority Filipino shareholders and the country’s government officials have UK private shareholders at the top of their list of priorities. I am uneasy here, so SELL.
Bulford verlässt sich auf sein Bauchgefühl und rät zum Verkauf.
Antwort auf Beitrag Nr.: 40.331.570 von xxtsc am 15.10.10 17:37:21hab mich auch mal auf mein Bauchgefühl verlassen und war auch Mist
Antwort auf Beitrag Nr.: 40.332.327 von hainholz am 15.10.10 19:12:23http://www.manilastandardtoday.com/insideBusiness.htm?f=2010…
Forum Energy pursuing exploration of Reed Bank
Forum Energy Plc of the UK is pushing ahead with the exploration of the Reed Bank Basin in South China Sea, Energy Secretary Jose Rene Almendras said over the weekend.
“As far as we’re concerned, they already have the service contract so they’re already moving in on it. There is a Supreme Court case that is awaiting decision but they are getting ready to fulfill [their requirements],” Almendras said. He did not elaborate on the pending case.
The Reed Bank Basin is covered by service contract 72 (formerly GSEC 101), which Forum Energy won.
Almendras said the department was committed to promoting the exploration and development of oil and gas exploration contracts as part of the government’s energy security agenda.
“My intention is to speed up all exploration. I’m trying to weed through all of those legal problems,” Almendras said.
Forum Energy earlier reported that it would spend about $10 million to $15 million for the 3D seismic survey of the Reed Bank Basin to provide the company with additional data on the potential reserves of the contract area.
The contract covers 8,800 square kilometers and results from the company’s initial 3D seismic program. Independent consultants Count Geophysics Ltd. and Oilfield Production Consultants Ltd. in 2006 confirmed 3.4 trillion cubic feet gas reserves in place. Alena Mae S. Flores
Forum Energy pursuing exploration of Reed Bank
Forum Energy Plc of the UK is pushing ahead with the exploration of the Reed Bank Basin in South China Sea, Energy Secretary Jose Rene Almendras said over the weekend.
“As far as we’re concerned, they already have the service contract so they’re already moving in on it. There is a Supreme Court case that is awaiting decision but they are getting ready to fulfill [their requirements],” Almendras said. He did not elaborate on the pending case.
The Reed Bank Basin is covered by service contract 72 (formerly GSEC 101), which Forum Energy won.
Almendras said the department was committed to promoting the exploration and development of oil and gas exploration contracts as part of the government’s energy security agenda.
“My intention is to speed up all exploration. I’m trying to weed through all of those legal problems,” Almendras said.
Forum Energy earlier reported that it would spend about $10 million to $15 million for the 3D seismic survey of the Reed Bank Basin to provide the company with additional data on the potential reserves of the contract area.
The contract covers 8,800 square kilometers and results from the company’s initial 3D seismic program. Independent consultants Count Geophysics Ltd. and Oilfield Production Consultants Ltd. in 2006 confirmed 3.4 trillion cubic feet gas reserves in place. Alena Mae S. Flores
Antwort auf Beitrag Nr.: 40.386.828 von xxtsc am 25.10.10 20:17:43tut sich ja mal wieder was
Antwort auf Beitrag Nr.: 40.387.307 von hainholz am 25.10.10 21:20:53...und schon gehts ab, 0,0135$!!!
Antwort auf Beitrag Nr.: 40.387.616 von xxtsc am 25.10.10 22:00:24ob´s an meinem Posting liegt bei Stockhouse
kommt ja mal ein wenig Bewegung auf hier
0,015 hier is ne Hausnummer
0,015 hier is ne Hausnummer
Philex Earns P2.1 B in 9 Months, up 21%
By JAMES A. LOYOLA
October 27, 2010, 8:29pm
MANILA, Philippines – Philex Mining Corporation reported a 21 percent jump unaudited consolidated net income to P2.1 billion for the first nine months of the year from P1.7 billion in the same period in 2009.
The higher profits came as greater tonnage of ore milled, higher metal prices and increased revenue from petroleum offset lower ore grades at its Padcal gold and copper mine.
In a disclosure to the Philippine Stock Exchange, Philex said its third quarter net income rose 86 percent to P1.15 billion, which is the fourth highest quarterly income level in the past five years, and has even surpassed first half earnings.
Core net income rose by a higher 46 percent to P2.31 billion for the nine months of 2010 compared with P1.58 billion in the same period last year.
“We are gratified that we have now been able to overcome the difficulties encountered in the previous quarters on production so much so that the third quarter revenue has posted the highest quarterly level so far in the past five years of the Company’s operations,” said Philex chairman Manuel V. Pangilinan.
He noted that the last five years were actually record years to date in its more than 50 years of operating history.
In recent weeks, spot prices for both gold and copper have broken their previous record levels, reaching record high of $1,381 per ounce and $3.82 per pound, before settling to $1,344 per ounce and $3.74 per pound more recently.
“Barring unforeseen circumstances, we are confident that we will be able to keep the production level that we have achieved in this quarter up to the end of the year,” said Philex president Jose Ernesto C. Villaluna, Jr. who added that “we may continue to see good if not better ore grades as well.”
Consolidated revenues increased 27.3 percent to P8.63 billion in the first nine months of the year from P6.78 billion a year earlier as copper revenues rose 33.3 percent to P3.76 billion from P2.82 billion.
On the other hand, gold revenues increased by 18.04 percent to P4.57 billion from P3.87 billion due to the significant rise in gold prices.
Consolidated revenues this year also included petroleum revenues of P198.7 million, up by 8 times from P24.2 million a year earlier.
These were contributed by Forum Energy PLC (FEP), a 51.95 percent-owned subsidiary, and coal revenues of P18.9 million from wholly-owned subsidiary Brixton Energy & Mining Corporation (BEMC), which is projected to commence commercial operations before the year ends.
By JAMES A. LOYOLA
October 27, 2010, 8:29pm
MANILA, Philippines – Philex Mining Corporation reported a 21 percent jump unaudited consolidated net income to P2.1 billion for the first nine months of the year from P1.7 billion in the same period in 2009.
The higher profits came as greater tonnage of ore milled, higher metal prices and increased revenue from petroleum offset lower ore grades at its Padcal gold and copper mine.
In a disclosure to the Philippine Stock Exchange, Philex said its third quarter net income rose 86 percent to P1.15 billion, which is the fourth highest quarterly income level in the past five years, and has even surpassed first half earnings.
Core net income rose by a higher 46 percent to P2.31 billion for the nine months of 2010 compared with P1.58 billion in the same period last year.
“We are gratified that we have now been able to overcome the difficulties encountered in the previous quarters on production so much so that the third quarter revenue has posted the highest quarterly level so far in the past five years of the Company’s operations,” said Philex chairman Manuel V. Pangilinan.
He noted that the last five years were actually record years to date in its more than 50 years of operating history.
In recent weeks, spot prices for both gold and copper have broken their previous record levels, reaching record high of $1,381 per ounce and $3.82 per pound, before settling to $1,344 per ounce and $3.74 per pound more recently.
“Barring unforeseen circumstances, we are confident that we will be able to keep the production level that we have achieved in this quarter up to the end of the year,” said Philex president Jose Ernesto C. Villaluna, Jr. who added that “we may continue to see good if not better ore grades as well.”
Consolidated revenues increased 27.3 percent to P8.63 billion in the first nine months of the year from P6.78 billion a year earlier as copper revenues rose 33.3 percent to P3.76 billion from P2.82 billion.
On the other hand, gold revenues increased by 18.04 percent to P4.57 billion from P3.87 billion due to the significant rise in gold prices.
Consolidated revenues this year also included petroleum revenues of P198.7 million, up by 8 times from P24.2 million a year earlier.
These were contributed by Forum Energy PLC (FEP), a 51.95 percent-owned subsidiary, and coal revenues of P18.9 million from wholly-owned subsidiary Brixton Energy & Mining Corporation (BEMC), which is projected to commence commercial operations before the year ends.
wichtig ist das hier
Consolidated revenues this year also included petroleum revenues of P198.7 million, up by 8 times from P24.2 million a year earlier.
These were contributed by Forum Energy PLC (FEP), a 51.95 percent-owned subsidiary,
Consolidated revenues this year also included petroleum revenues of P198.7 million, up by 8 times from P24.2 million a year earlier.
These were contributed by Forum Energy PLC (FEP), a 51.95 percent-owned subsidiary,
Antwort auf Beitrag Nr.: 40.400.004 von hainholz am 27.10.10 15:29:33Das sind wiklich gute News. Nun muss nur noch die philipp. Regierung den ServiceContrakt offiziell bestätigen. Dann werden die Kurse von FEP und FEC explodieren.
Antwort auf Beitrag Nr.: 40.402.327 von xxtsc am 27.10.10 19:29:33
Philex output higher in October
PDFPrintE-mail
Saturday, 06 November 2010 00:00
AddThis Social Bookmark Button
The Philippines’ biggest listed mining firm on Friday reported that production in its Padcal copper-gold mine rose by more than half last month. In a disclosure to the Philippine Stock Exchange, Philex Mining Corp. said that the value of gold, silver, and copper ore produced in October reached P1.423 billion, compared with just P890 million in the same month last year.
The company’s gold production amounted to some 14,895 ounces, while its copper and silver production reached 3.83 million pounds and 14,141 ounces, respectively.
According to Philex, the Padcal mine delivered some 835,612 dry metric tons (DMT) of ore resulting in 6,380 DMT of concentrates containing some 72.57 grams per DMT of gold, 24.06 percent copper, and 68.94 grams per DMT of silver.
The estimated value of last month’s production was based on provisional metal prices of $1,342 per ounce of gold (P863 million), $3.73 per pound of copper (P545 million), and $23.96 per ounce of silver (P15 million).
Earlier, Philex said its net income for the July to September period hit P1.1 billion, its fourth highest quarterly income to date and surpassing its first-half earnings of a billion pesos.
The third-quarter results allowed the company to register a 21-percent increase in its nine-month profit to P2.1 billion from P1.7 billion in the same period last year.
Philex’s core net income rose 46 percent to P2.308 billion for the first nine months, as greater tonnage of ore milled, higher metal prices and increased revenue from petroleum offset lower ore grades at its Padcal gold and copper mine.
Philex output higher in October
PDFPrintE-mail
Saturday, 06 November 2010 00:00
AddThis Social Bookmark Button
The Philippines’ biggest listed mining firm on Friday reported that production in its Padcal copper-gold mine rose by more than half last month. In a disclosure to the Philippine Stock Exchange, Philex Mining Corp. said that the value of gold, silver, and copper ore produced in October reached P1.423 billion, compared with just P890 million in the same month last year.
The company’s gold production amounted to some 14,895 ounces, while its copper and silver production reached 3.83 million pounds and 14,141 ounces, respectively.
According to Philex, the Padcal mine delivered some 835,612 dry metric tons (DMT) of ore resulting in 6,380 DMT of concentrates containing some 72.57 grams per DMT of gold, 24.06 percent copper, and 68.94 grams per DMT of silver.
The estimated value of last month’s production was based on provisional metal prices of $1,342 per ounce of gold (P863 million), $3.73 per pound of copper (P545 million), and $23.96 per ounce of silver (P15 million).
Earlier, Philex said its net income for the July to September period hit P1.1 billion, its fourth highest quarterly income to date and surpassing its first-half earnings of a billion pesos.
The third-quarter results allowed the company to register a 21-percent increase in its nine-month profit to P2.1 billion from P1.7 billion in the same period last year.
Philex’s core net income rose 46 percent to P2.308 billion for the first nine months, as greater tonnage of ore milled, higher metal prices and increased revenue from petroleum offset lower ore grades at its Padcal gold and copper mine.
Philex’s core net income rose 46 percent to P2.308 billion for the first nine months, as greater tonnage of ore milled, higher metal prices and increased revenue from petroleum offset revenue from petroleum offset
Antwort auf Beitrag Nr.: 40.465.015 von hainholz am 05.11.10 17:17:28RNS Number : 4284W
Forum Energy Plc
18 November 2010
18 November 2010
FORUM ENERGY plc
("Forum" or the "Company")
Board Changes
The Board of Forum wishes to announce the following Board changes which will take place with immediate effect:-
Walter Brown has retired as Chief Executive Officer of the Company, but will remain on the Board as a Non-Executive Director.
Robin Nicholson, currently a Non-Executive Director, will assume the role of Executive Chairman.
Barry Stansfield will retire as Chairman but will remain on the Board as a Non-Executive Director.
In addition to these changes, the Company is pleased to announce the appointment of Messrs Edward Tortorici and Richard Beacher to the Board of Forum.
Mr. Tortorici was born in the United States, and received a BS from New York University and an MS from Fairfield University. He has served in a variety of senior and executive management positions, including Corporate Vice President for Crocker Bank and Managing Director positions at Olivetti Corporation of America and Fairchild Semiconductor Corporation. In 1987, Mr. Tortorici joined First Pacific Company Ltd in Hong Kong (First Pacific) as an Executive Director for strategic planning and corporate restructuring, and launched the Group's entry into the telecommunications and technology sectors. Presently, he oversees corporate strategy for First Pacific and guides the Group's strategic planning and corporate development activities.
Richard Beacher is the Executive Vice President of First Pacific. Born in the United Kingdom, Mr. Beacher received a BA (Hons) in Economics and Accounting from University of Newcastle Upon Tyne, U.K. He is a member of the Institute of Chartered Accountants in England and Wales and a member of the Hong Kong Institute of Certified Public Accountants. Mr. Beacher moved to Hong Kong in 1984 with PriceWaterhouse and most recently served in financial positions with Hagemeyer Cosa Lieberman and subsequently with Siemens Building Technologies as Global Business Line Controller. He joined First Pacific in 2006.
Following these changes and appointments, the current Board Structure is now as follows:
Robin Nicholson
Executive Chairman
Andrew Mullins
Executive Director and Company Secretary
Paul Wallace
Finance Director
Carlo Pablo
Executive Director
Barry Stansfield
Non-Executive Director
Roberto V. Ongpin
Non-Executive Director
Walter Brown
Non-Executive Director
Richard Beacher
Non-Executive Director
Edward Tortorici
Non-Executive Director
Separately, the Company confirms that it expects to issue an update in respect of the first-sub phase of Service Contract 72, later this month.
For further information please contact:
Forum Energy Plc
Andrew Mullins, Tel: +44 (0)1932 445 344
Executive Director
Company Secretary
Execution Noble & Company Ltd (Nominated Adviser & Broker)
Harry Stockdale Tel: +44 (0)207 456 9191
Or visit the Company's website:
www.forumenergyplc.com
Additional information on Mr Tortorici:
In accordance with Schedule 2(g) of the AIM Rules the following information in relation to the appointment of Mr Edward Anthony Tortorici, aged 70, to the Board of Forum Energy is disclosed:
Current Directorships and Partnerships:
- EA Edwards Associates
- EG Holdings Groups LP
- FEC Resources Inc
- First Pacific Company Limited
- First Pacific Consumer Products Limited
- First Pacific Holdings (Bermuda) Ltd
- Jeti Investments LLC
- Landco Pacific Corporation
- Level Up! International Holdings Pte Ltd
- Maynilad Water Services Inc
- Medical Doctors Inc
- Metro Pacific Investments Corporation
- Philex Gold Philippines Inc
- Philex Mining Corporation
- PT Indofood Sukses Makmur Tbk
Directorships and Partnerships held in the last five years:
- Metro Pacific Holdings Inc
- PT Mobile-8 Telecom Tbk
Save for the information disclosed above there is no other information falling to be disclosed on Mr Tortorici under Schedule 2(g) of the AIM Rules.
Additional information on Mr Beacher:
In accordance with Schedule 2(g) of the AIM Rules the following information in relation to the appointment of Mr Richard Lawrence Beacher, aged 51, to the Board of Forum Energy is disclosed:
Current Directorships and Partnerships:
- Doncaster Properties Limited
- First Pacific Management Services Limited
- First Pacific Investments Limited
- Level Up! International Holdings Pte. Limited
Directorships and Partnerships held in the last five years:
- Nil
Save for the information disclosed above there is no other information falling to be disclosed on Mr Beacher under Schedule 2(g) of the AIM Rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
Forum Energy Plc
18 November 2010
18 November 2010
FORUM ENERGY plc
("Forum" or the "Company")
Board Changes
The Board of Forum wishes to announce the following Board changes which will take place with immediate effect:-
Walter Brown has retired as Chief Executive Officer of the Company, but will remain on the Board as a Non-Executive Director.
Robin Nicholson, currently a Non-Executive Director, will assume the role of Executive Chairman.
Barry Stansfield will retire as Chairman but will remain on the Board as a Non-Executive Director.
In addition to these changes, the Company is pleased to announce the appointment of Messrs Edward Tortorici and Richard Beacher to the Board of Forum.
Mr. Tortorici was born in the United States, and received a BS from New York University and an MS from Fairfield University. He has served in a variety of senior and executive management positions, including Corporate Vice President for Crocker Bank and Managing Director positions at Olivetti Corporation of America and Fairchild Semiconductor Corporation. In 1987, Mr. Tortorici joined First Pacific Company Ltd in Hong Kong (First Pacific) as an Executive Director for strategic planning and corporate restructuring, and launched the Group's entry into the telecommunications and technology sectors. Presently, he oversees corporate strategy for First Pacific and guides the Group's strategic planning and corporate development activities.
Richard Beacher is the Executive Vice President of First Pacific. Born in the United Kingdom, Mr. Beacher received a BA (Hons) in Economics and Accounting from University of Newcastle Upon Tyne, U.K. He is a member of the Institute of Chartered Accountants in England and Wales and a member of the Hong Kong Institute of Certified Public Accountants. Mr. Beacher moved to Hong Kong in 1984 with PriceWaterhouse and most recently served in financial positions with Hagemeyer Cosa Lieberman and subsequently with Siemens Building Technologies as Global Business Line Controller. He joined First Pacific in 2006.
Following these changes and appointments, the current Board Structure is now as follows:
Robin Nicholson
Executive Chairman
Andrew Mullins
Executive Director and Company Secretary
Paul Wallace
Finance Director
Carlo Pablo
Executive Director
Barry Stansfield
Non-Executive Director
Roberto V. Ongpin
Non-Executive Director
Walter Brown
Non-Executive Director
Richard Beacher
Non-Executive Director
Edward Tortorici
Non-Executive Director
Separately, the Company confirms that it expects to issue an update in respect of the first-sub phase of Service Contract 72, later this month.
For further information please contact:
Forum Energy Plc
Andrew Mullins, Tel: +44 (0)1932 445 344
Executive Director
Company Secretary
Execution Noble & Company Ltd (Nominated Adviser & Broker)
Harry Stockdale Tel: +44 (0)207 456 9191
Or visit the Company's website:
www.forumenergyplc.com
Additional information on Mr Tortorici:
In accordance with Schedule 2(g) of the AIM Rules the following information in relation to the appointment of Mr Edward Anthony Tortorici, aged 70, to the Board of Forum Energy is disclosed:
Current Directorships and Partnerships:
- EA Edwards Associates
- EG Holdings Groups LP
- FEC Resources Inc
- First Pacific Company Limited
- First Pacific Consumer Products Limited
- First Pacific Holdings (Bermuda) Ltd
- Jeti Investments LLC
- Landco Pacific Corporation
- Level Up! International Holdings Pte Ltd
- Maynilad Water Services Inc
- Medical Doctors Inc
- Metro Pacific Investments Corporation
- Philex Gold Philippines Inc
- Philex Mining Corporation
- PT Indofood Sukses Makmur Tbk
Directorships and Partnerships held in the last five years:
- Metro Pacific Holdings Inc
- PT Mobile-8 Telecom Tbk
Save for the information disclosed above there is no other information falling to be disclosed on Mr Tortorici under Schedule 2(g) of the AIM Rules.
Additional information on Mr Beacher:
In accordance with Schedule 2(g) of the AIM Rules the following information in relation to the appointment of Mr Richard Lawrence Beacher, aged 51, to the Board of Forum Energy is disclosed:
Current Directorships and Partnerships:
- Doncaster Properties Limited
- First Pacific Management Services Limited
- First Pacific Investments Limited
- Level Up! International Holdings Pte. Limited
Directorships and Partnerships held in the last five years:
- Nil
Save for the information disclosed above there is no other information falling to be disclosed on Mr Beacher under Schedule 2(g) of the AIM Rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
Ende des Monats wissen wir mehr
11:41
Forum Energy Plc - Board Changes
RNS
RNS Number : 4284W
Forum Energy Plc
18 November 2010
18 November 2010
FORUM ENERGY plc
("Forum" or the "Company")
Board Changes
The Board of Forum wishes to announce the following Board changes which will take place with immediate effect:-
Walter Brown has retired as Chief Executive Officer of the Company, but will remain on the Board as a Non-Executive Director.
Robin Nicholson, currently a Non-Executive Director, will assume the role of Executive Chairman.
Barry Stansfield will retire as Chairman but will remain on the Board as a Non-Executive Director.
In addition to these changes, the Company is pleased to announce the appointment of Messrs Edward Tortorici and Richard Beacher to the Board of Forum.
Mr. Tortorici was born in the United States, and received a BS from New York University and an MS from Fairfield University. He has served in a variety of senior and executive management positions, including Corporate Vice President for Crocker Bank and Managing Director positions at Olivetti Corporation of America and Fairchild Semiconductor Corporation. In 1987, Mr. Tortorici joined First Pacific Company Ltd in Hong Kong (First Pacific) as an Executive Director for strategic planning and corporate restructuring, and launched the Group's entry into the telecommunications and technology sectors. Presently, he oversees corporate strategy for First Pacific and guides the Group's strategic planning and corporate development activities.
Richard Beacher is the Executive Vice President of First Pacific. Born in the United Kingdom, Mr. Beacher received a BA (Hons) in Economics and Accounting from University of Newcastle Upon Tyne, U.K. He is a member of the Institute of Chartered Accountants in England and Wales and a member of the Hong Kong Institute of Certified Public Accountants. Mr. Beacher moved to Hong Kong in 1984 with PriceWaterhouse and most recently served in financial positions with Hagemeyer Cosa Lieberman and subsequently with Siemens Building Technologies as Global Business Line Controller. He joined First Pacific in 2006.
Following these changes and appointments, the current Board Structure is now as follows:
Robin Nicholson
Executive Chairman
Andrew Mullins
Executive Director and Company Secretary
Paul Wallace
Finance Director
Carlo Pablo
Executive Director
Barry Stansfield
Non-Executive Director
Roberto V. Ongpin
Non-Executive Director
Walter Brown
Non-Executive Director
Richard Beacher
Non-Executive Director
Edward Tortorici
Non-Executive Director
Separately, the Company confirms that it expects to issue an update in respect of the first-sub phase of Service Contract 72, later this month.
For further information please contact:
Forum Energy Plc
Andrew Mullins, Tel: 44 (0)1932 445 344
Executive Director
Company Secretary
Execution Noble
in London 15 % auffi
11:41
Forum Energy Plc - Board Changes
RNS
RNS Number : 4284W
Forum Energy Plc
18 November 2010
18 November 2010
FORUM ENERGY plc
("Forum" or the "Company")
Board Changes
The Board of Forum wishes to announce the following Board changes which will take place with immediate effect:-
Walter Brown has retired as Chief Executive Officer of the Company, but will remain on the Board as a Non-Executive Director.
Robin Nicholson, currently a Non-Executive Director, will assume the role of Executive Chairman.
Barry Stansfield will retire as Chairman but will remain on the Board as a Non-Executive Director.
In addition to these changes, the Company is pleased to announce the appointment of Messrs Edward Tortorici and Richard Beacher to the Board of Forum.
Mr. Tortorici was born in the United States, and received a BS from New York University and an MS from Fairfield University. He has served in a variety of senior and executive management positions, including Corporate Vice President for Crocker Bank and Managing Director positions at Olivetti Corporation of America and Fairchild Semiconductor Corporation. In 1987, Mr. Tortorici joined First Pacific Company Ltd in Hong Kong (First Pacific) as an Executive Director for strategic planning and corporate restructuring, and launched the Group's entry into the telecommunications and technology sectors. Presently, he oversees corporate strategy for First Pacific and guides the Group's strategic planning and corporate development activities.
Richard Beacher is the Executive Vice President of First Pacific. Born in the United Kingdom, Mr. Beacher received a BA (Hons) in Economics and Accounting from University of Newcastle Upon Tyne, U.K. He is a member of the Institute of Chartered Accountants in England and Wales and a member of the Hong Kong Institute of Certified Public Accountants. Mr. Beacher moved to Hong Kong in 1984 with PriceWaterhouse and most recently served in financial positions with Hagemeyer Cosa Lieberman and subsequently with Siemens Building Technologies as Global Business Line Controller. He joined First Pacific in 2006.
Following these changes and appointments, the current Board Structure is now as follows:
Robin Nicholson
Executive Chairman
Andrew Mullins
Executive Director and Company Secretary
Paul Wallace
Finance Director
Carlo Pablo
Executive Director
Barry Stansfield
Non-Executive Director
Roberto V. Ongpin
Non-Executive Director
Walter Brown
Non-Executive Director
Richard Beacher
Non-Executive Director
Edward Tortorici
Non-Executive Director
Separately, the Company confirms that it expects to issue an update in respect of the first-sub phase of Service Contract 72, later this month.
For further information please contact:
Forum Energy Plc
Andrew Mullins, Tel: 44 (0)1932 445 344
Executive Director
Company Secretary
Execution Noble
in London 15 % auffi
last Price
0.016
Change $
0.0059
Change %
58.42%
0.016
Change $
0.0059
Change %
58.42%
Antwort auf Beitrag Nr.: 40.548.898 von hainholz am 18.11.10 19:13:41Na hoffentlich enthält das Update gute Fakten, die das Projekt voranbringen. FEP hat gestern etwas Umsatz gemacht, +15 %, heute wenig Umsatz. Wenn das Update gut ist dürfte sich das durch Insiderkäufe ankündigen.
FEC hat mal wieder 50% an einem Tag gemacht, kennen wir ja schon, kann auch schnell wieder back gehen.
Gruß
FEC hat mal wieder 50% an einem Tag gemacht, kennen wir ja schon, kann auch schnell wieder back gehen.
Gruß
Antwort auf Beitrag Nr.: 40.555.670 von xxtsc am 19.11.10 17:33:21Es scheint loszugehen. FEP startet das Projekt!!! Update kommt in Kürze!
http://www.coastguard.gov.ph/index.php?option=com_content&vi…
http://www.coastguard.gov.ph/index.php?option=com_content&vi…
Antwort auf Beitrag Nr.: 40.567.724 von xxtsc am 22.11.10 17:09:22rockt auch schon in US
hoch auf o,o2 = 73%
hoch auf o,o2 = 73%
Antwort auf Beitrag Nr.: 40.568.189 von hainholz am 22.11.10 17:56:30Das sieht gut aus!
Antwort auf Beitrag Nr.: 40.568.336 von xxtsc am 22.11.10 18:14:24bist ja auch drüben im Board aktiv,gut so
dieser bericht aus Phil,was sagt der genau aus?
dieser bericht aus Phil,was sagt der genau aus?
Antwort auf Beitrag Nr.: 40.568.487 von hainholz am 22.11.10 18:31:33Das Energieministerium hat SC 72 abgesegnet, irgendwas wird noch vor Gericht verhandelt, was genau steht nicht im Artikel. Drei andere Service-Kontrakts sollen aufgelöst werden. Aber das tangiert Forum nicht, betrifft andere Gesellschaften. Der Weg dürfte nun frei sein, bin gespannt auf das Update.
Ziemliche OTC Kurskapriolen, FEC ist nun mehr wert als FEP (gemessen am Londoner Aktienkurs und dem FEC-Anteil an FEP)!
Ziemliche OTC Kurskapriolen, FEC ist nun mehr wert als FEP (gemessen am Londoner Aktienkurs und dem FEC-Anteil an FEP)!
Philex expects to surpass profit goal
PDFPrintE-mail
Wednesday, 24 November 2010 00:00
AddThis Social Bookmark Button
Philex Mining Corp. said it will “significantly” surpass its core profit target this year on higher output and metal prices. Manuel Pangilinan, chairman of the Philippines’ biggest mining concern, said the firm would exceed its P2-billion core net income target this year, a 10-percent improvement from the previous year’s P1.85 billion.
“It [core net profit] will significantly increase. Production will be slightly ahead of last year and precious metal prices have been higher so that will drive profits,” Pangilinan said on the sidelines of the company’s special stockholders meeting.
At end-September, the mining company already surpassed its income target after core profit rose 46 percent to P2.31 billion from last year’s P1.58 billion.
The higher profit came as greater tonnage of ore milled, higher metal prices and increased revenue from petroleum offset lower ore grades at its Padcal gold and copper mine.
Estimated value of shipments rose 18.43 percent to P8.21 billion in the first nine months from P6.93 billion last year, even though Philex made only nine shipments this year, lower than the 10 shipments last year.
Pangilinan said the company has no fund-raising plans at the moment since it has P3 billion in cash.
“Given the forecast of cash flows in the next two years, we have enough internal funds to be able to finance the Silangan mine in Surigao del Norte,” he said.
“If there are new mining opportunities available, then we may raise [cash through] debt,” he added.
Philex plans to bring the Silangan project into production “not later than 2015” or two years before the end of the mine life of the Padcal in 2017.
Pangilinan had said Philex may have to shell out an initial $600 million to $800 million to bring the Silangan project into operation, although this has yet to be confirmed by a feasibility study.
The Silangan project is estimated to hold much higher resources than Padcal, which has been in operation for half a century.
Philex shares were unchanged at P14 each on Tuesday.
KRISTA ANGELA M. MONTEALEGRE
PDFPrintE-mail
Wednesday, 24 November 2010 00:00
AddThis Social Bookmark Button
Philex Mining Corp. said it will “significantly” surpass its core profit target this year on higher output and metal prices. Manuel Pangilinan, chairman of the Philippines’ biggest mining concern, said the firm would exceed its P2-billion core net income target this year, a 10-percent improvement from the previous year’s P1.85 billion.
“It [core net profit] will significantly increase. Production will be slightly ahead of last year and precious metal prices have been higher so that will drive profits,” Pangilinan said on the sidelines of the company’s special stockholders meeting.
At end-September, the mining company already surpassed its income target after core profit rose 46 percent to P2.31 billion from last year’s P1.58 billion.
The higher profit came as greater tonnage of ore milled, higher metal prices and increased revenue from petroleum offset lower ore grades at its Padcal gold and copper mine.
Estimated value of shipments rose 18.43 percent to P8.21 billion in the first nine months from P6.93 billion last year, even though Philex made only nine shipments this year, lower than the 10 shipments last year.
Pangilinan said the company has no fund-raising plans at the moment since it has P3 billion in cash.
“Given the forecast of cash flows in the next two years, we have enough internal funds to be able to finance the Silangan mine in Surigao del Norte,” he said.
“If there are new mining opportunities available, then we may raise [cash through] debt,” he added.
Philex plans to bring the Silangan project into production “not later than 2015” or two years before the end of the mine life of the Padcal in 2017.
Pangilinan had said Philex may have to shell out an initial $600 million to $800 million to bring the Silangan project into operation, although this has yet to be confirmed by a feasibility study.
The Silangan project is estimated to hold much higher resources than Padcal, which has been in operation for half a century.
Philex shares were unchanged at P14 each on Tuesday.
KRISTA ANGELA M. MONTEALEGRE
Antwort auf Beitrag Nr.: 40.577.676 von hainholz am 23.11.10 21:12:49RNS Number : 7501W
Forum Energy Plc
24 November 2010
24 November 2010
FORUM ENERGY plc
("Forum" or the "Company")
US$10 million Facility Agreement
and Service Contract 72 Work Programme Update
The Board of Forum is pleased to announce that Forum Philippines Holdings Ltd ("Forum Philippines"), a wholly owned subsidiary of the Company has today entered into a US$10m Facility Agreement ("the Facility") with the Company's principal shareholder, Philex Mining Corporation ("Philex").
The Facility will be available for a 3 year period and funds can be borrowed at an interest rate of US LIBOR + 4.5%. The Facility will enable the Company to fund its 70% share of a first sub-phase work programme over Service Contract 72 ("SC72"). Obligations arising from funds drawn under this Facility are not convertible into the Company's or Forum Philippines' ordinary shares.
The Company has approved a work programme of which Forum's share is estimated to cost up to approximately US$7.4 million. This work programme is designed to provide a more comprehensive valuation of the property and identify potential sites for appraisal wells. The work programme includes 3D seismic work over an area of up to 550 Km2 over and around the Sampaguita Gas Discovery, and 2,200 line-Km of high resolution 2D over existing leads within the 8,800 Km2 contract area. The acquisition of the seismic data is currently scheduled to be completed in the first half of 2011 and will then be subject to technical analysis.
In addition to moving ahead with the approved work programme, the Company continues to have discussions with potential strategic partners for the purpose of accelerating the development of SC72, however no firm proposal is currently being considered.
As the Facility has been provided by a substantial shareholder of the Company, this transaction is a related party transaction under the AIM Rules for Companies. The independent directors of the Company consider, having consulted with Execution Noble & Co, that the terms of the Facility are fair and reasonable insofar as the Company's shareholders are concerned.
Andrew Mullins, Executive Director, commented:
"We are delighted to have been able to arrange this US$10 million Facility, on such attractive terms. The Facility will enable the Company to fund its share of this important work programme over SC72. We look forward to releasing further updates as appropriate."
For further information please contact:
Forum Energy Plc
Andrew Mullins, Tel: +44 (0) 1932 445 344
Executive Director
Company Secretary
Execution Noble & Company Ltd (Nominated Adviser & Broker)
Harry Stockdale Tel: +44 (0) 207 456 9191
Or visit the Company's website:
www.forumenergy.com
Notes to Editors:
· Service Contract 72 (formerly GSEC101) is an 8,800 Km2 licence located offshore West Palawan, in the South China Sea. Forum Energy Plc (through its 100% interest in Forum Philippines Holdings Ltd and Forum (GSEC101) Ltd) holds a 70% equity interest in the SC72 licence.
· In 2006, results from a 248-square kilometre 3D seismic survey over the SC72 licence area indicated mean 3.4 Trillion Cubic Feet (TCF) gas-in-place (GIP) at the Sampaguita Gas Discovery.
· Philex Mining Corporation (through its interests in FEC Resources, Inc and Philex Petroleum Corporation) controls 64.45% of the share capital of Forum.
This information is provided by RNS
The company news service from the London Stock Exchange
END
Forum Energy Plc
24 November 2010
24 November 2010
FORUM ENERGY plc
("Forum" or the "Company")
US$10 million Facility Agreement
and Service Contract 72 Work Programme Update
The Board of Forum is pleased to announce that Forum Philippines Holdings Ltd ("Forum Philippines"), a wholly owned subsidiary of the Company has today entered into a US$10m Facility Agreement ("the Facility") with the Company's principal shareholder, Philex Mining Corporation ("Philex").
The Facility will be available for a 3 year period and funds can be borrowed at an interest rate of US LIBOR + 4.5%. The Facility will enable the Company to fund its 70% share of a first sub-phase work programme over Service Contract 72 ("SC72"). Obligations arising from funds drawn under this Facility are not convertible into the Company's or Forum Philippines' ordinary shares.
The Company has approved a work programme of which Forum's share is estimated to cost up to approximately US$7.4 million. This work programme is designed to provide a more comprehensive valuation of the property and identify potential sites for appraisal wells. The work programme includes 3D seismic work over an area of up to 550 Km2 over and around the Sampaguita Gas Discovery, and 2,200 line-Km of high resolution 2D over existing leads within the 8,800 Km2 contract area. The acquisition of the seismic data is currently scheduled to be completed in the first half of 2011 and will then be subject to technical analysis.
In addition to moving ahead with the approved work programme, the Company continues to have discussions with potential strategic partners for the purpose of accelerating the development of SC72, however no firm proposal is currently being considered.
As the Facility has been provided by a substantial shareholder of the Company, this transaction is a related party transaction under the AIM Rules for Companies. The independent directors of the Company consider, having consulted with Execution Noble & Co, that the terms of the Facility are fair and reasonable insofar as the Company's shareholders are concerned.
Andrew Mullins, Executive Director, commented:
"We are delighted to have been able to arrange this US$10 million Facility, on such attractive terms. The Facility will enable the Company to fund its share of this important work programme over SC72. We look forward to releasing further updates as appropriate."
For further information please contact:
Forum Energy Plc
Andrew Mullins, Tel: +44 (0) 1932 445 344
Executive Director
Company Secretary
Execution Noble & Company Ltd (Nominated Adviser & Broker)
Harry Stockdale Tel: +44 (0) 207 456 9191
Or visit the Company's website:
www.forumenergy.com
Notes to Editors:
· Service Contract 72 (formerly GSEC101) is an 8,800 Km2 licence located offshore West Palawan, in the South China Sea. Forum Energy Plc (through its 100% interest in Forum Philippines Holdings Ltd and Forum (GSEC101) Ltd) holds a 70% equity interest in the SC72 licence.
· In 2006, results from a 248-square kilometre 3D seismic survey over the SC72 licence area indicated mean 3.4 Trillion Cubic Feet (TCF) gas-in-place (GIP) at the Sampaguita Gas Discovery.
· Philex Mining Corporation (through its interests in FEC Resources, Inc and Philex Petroleum Corporation) controls 64.45% of the share capital of Forum.
This information is provided by RNS
The company news service from the London Stock Exchange
END
yep,nu aber mal los
ein Meilenstein für FEP
in London 20 % auffi
in London 20 % auffi
Beitrag zu dieser Diskussion schreiben
Zu dieser Diskussion können keine Beiträge mehr verfasst werden, da der letzte Beitrag vor mehr als zwei Jahren verfasst wurde und die Diskussion daraufhin archiviert wurde.
Bitte wenden Sie sich an feedback@wallstreet-online.de und erfragen Sie die Reaktivierung der Diskussion oder starten Sie eine neue Diskussion.
Investoren beobachten auch:
Wertpapier | Perf. % |
---|---|
+0,36 | |
0,00 | |
0,00 | |
0,00 | |
+4.900,00 | |
+6,42 | |
0,00 | |
+5,26 | |
0,00 | |
-9,09 |
Meistdiskutiert
Wertpapier | Beiträge | |
---|---|---|
209 | ||
102 | ||
100 | ||
61 | ||
54 | ||
39 | ||
38 | ||
34 | ||
33 | ||
28 |