FORUM ENERGY CORPORATION (NASDAQ OTCBB: FRUEF, Frankfurt/Munich: FE8) ("Forum" or "The Company") is pleased to provide an update further to the company`s announcement of February 9th 2005:
Significant progress has been made with regard to Forum`s agreement with a major UK based Oil & Gas Company. Whilst still confidential at this stage, the company can advise the legal process is still progressing, and that the necessary due diligence and valuations are currently being effected.
The company is anticipating a successful conclusion to this agreement and expects to be in a position to release more detailed information in the near future.
On behalf of the Board of,
FORUM ENERGY CORPORATION
“David R. Robinson”
David R. Robinson
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 Mr. David R. Robinson at (403) 290-1676 e-mail enquiries@forumenergy.com or visit the Forum Energy website at www.forumenergy.com
