FORUM ENERGY -- GOLDMAN -SACHS steigt ein!!!!!!! - 500 Beiträge pro Seite

[hainholz]

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



11 October 2005



Forum Energy Plc (`the Company`)



Notifiable Interest




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

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



die legen demnächst gewaltig los

WKN A0ERXT






For further information please contact:



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



Adam Westcott, Noble & Company Limited: [phone]



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

[phone]



END

[132427]

Hallo

@hainholz

Das ist ja mal eine super Nachricht,ich halte Forum schon seit über einem Jahr,vielleicht wird jetzt mal langsam der wahre Wert erkannt.

[kunokuhn]

is noch ein weiter Weg bis 0,40 einstandskurs

[hainholz]

[posting]18.244.779 von kunokuhn am 12.10.05 17:28:30[/posting]das ist wahr,aber was nicht ist, kann werden.

Die Neuausrichtung ist gut mit Kapital unterfüttert,deshalb ist Forum gewaltig unterbewertet.

[kunokuhn]

sollte man nochmal nachkaufen

[hainholz]

[posting]18.244.884 von kunokuhn am 12.10.05 17:34:09[/posting]bei dem Kurs!!!

geschenkt

[kunokuhn]

brauchst nur Kohle

ob du überhaupt welche bekommst?

[kunokuhn]

nix los heute

[knaufi]

[posting]18.266.993 von kunokuhn am 13.10.05 22:03:59[/posting]Halten-long-entspannen-abwarten bis die großen den Wert entdecken-laufen lassen-lächeln-abkassieren!!!

[hainholz]

[posting]18.302.301 von knaufi am 16.10.05 15:36:46[/posting]so halte ich das auch ,werde zu dem Sonderangebotspreis nochmal diese Woche aufstocken.
Denn 2006 mit Kohleabbau und Ölförderung steht bevor.
Wenn sie erstmal in den USA wach werden,ist der Zug abgefahren.

[hainholz]

und der nächste




17 October 2005





Forum Energy Plc (`the Company`)



Notifiable Interest




Following, and in clarification of, the announcement made by the Company on 11 October

2005, the Company announces that they were notified on 13 October 2005 that Moore Credit

Fund Ltd. has a notifiable interest of 2,208,000 ordinary shares of 10p each in the Company,

representing 8.11% of the issued share capital of the Company. This represents the entire

holding of Moore Credit Fund Ltd. in the issued share capital of the Company.



These shares will be held in the name of Goldman Sachs Securities (Nominees) Limited.

[hainholz]

dolle NEWS



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

[hainholz]

schöne research auf einem englischen Board

http://boards.fool.co.uk/Message.asp?mid=9659834

[knaufi]

[posting]18.315.832 von hainholz am 17.10.05 18:58:28[/posting]ABsolut, I agree- ebenso interessant könnte West Hawk Development sein/werden...Von CDC und PSR bereits angesprochen, allerdings im derzeit,kurzfristig schwächelnden Energiemarkt untergegangen....

Gruß knaufi

[hainholz]

17 November 2005



Forum Energy Plc



Extension of Exclusivity Period





Forum Energy Plc (the “Company”), the AIM quoted oil, gas and coal company with assets in the Philippines, announces

that it has extended the exclusivity period with Basic Consolidated, Inc. (“Basic”) to 31 January 2006 while it continues the

technical due diligence on the assets.



Pursuant to an agreement of 17 May 2005 with Basic, the period of exclusivity during which the parties would work towards

the achievement of a merger of Basic’s petroleum interests with the Company expired today, 17 November 2005, as detailed

in the Company’s Admission document.



The Company will make further announcements as the transaction progresses.



The petroleum interests of Basic Petroleum, Inc. are solely based in the Philippines and the surrounding waters.

[knaufi]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[hainholz]

sehr gute Resultate


28 November 2005





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



Preliminary results for the six months to 30 September 2005





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



Highlights of the year include:



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


Commenting, David Robinson, Chief Executive, said:



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







For further information please contact:



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



Adam Westcott, Noble & Company Limited: [phone]



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

[phone]







Or visit the Company’s website:



www.forumenergyplc.com





















Chairman’s Statement:



Dear Shareholder:



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



Financial

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



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



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



General Survey and Exploration Contract 101 (GSEC101)

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



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



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



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



Service Contract 40 (SC40)

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



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



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



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



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



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



Coal Operating Contracts

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



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



New Ventures

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



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



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



Outlook

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



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



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



Alan B. Henderson

Chairman



David R. Robinson

President and Chief Executive Officer

[hainholz]

2006 wird viel Freude bringen



Wir glauben den zukünftigen Blicken, die für Forum und seine Aktionäre extrem positiv sind. Alan B. Henderson Vorsitzender David R. Robinson Präsident und Generaldirektor

[hainholz]

http://www.forumenergyplc.com/downloads/Forum251105v3.pdf

[hainholz]

Es geht rasant weiter

NEWS NEWS

November 30 2005
Gas field declared commercial in key step to early production revenues


Forum Energy plc, the AIM-quoted UK energy group with gas, oil and coal assets in the Philippines, together with the Department of Energy, has declared commercial the Libertad gas field on the island of Cebu. This represents the first Declaration of Commerciality within the Philippines since Shell’s Malampaya offshore gas field development, which came onstream in 2001.

The Libertad field is located 100km north of Cebu City on the island of Cebu. Forum is in discussions to utilise the gas for local electricity generation in line with a Philippine government directive to increase the use of natural gas. The project is expected to generate up to 2 MW of electricity commencing next year following a $2.5 million development programme.

The Libertad gas field lies within Service Contract 40 (SC40) where Forum holds a 66.7% interest. SC40 also contains the onshore Maya oil and gas find, as well as prospects on Jibitnil Island and offshore in the Tañon Strait which, like Libertad, lie near existing infrastructure networks, enhancing the potential for their commercial development.

Forum Chief Executive David Robinson said: "Our success with Libertad underscores the potential of the broad base of energy assets we hold in the Philippines, where the government has implemented policies aimed at encouraging energy self-sufficiency."

In line with its policy to quickly exploit its undeveloped reserves, Forum recently completed a 250 sq km 3D seismic survey over the Sampaguita structure in its GSEC101 licence offshore Palawan. The structure has previously tested gas and is estimated by PGS to contain up to 2.3 trillion cubic feet of potential natural gas reserves.

Forum arrived on London’s AIM market in August this year following two fund-raisings totalling £14.4 million.

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

und in USA noch nicht bekannt

[hainholz]

Market cap is £34m.

Full marks to them for their folder, not only did they have enough of them (unlike many of the other companies which ran out before those of us got there that were foolishly trying to get into town by train) but they included the presentation, a broker note and the latest accounts - nice one. Plus a separate sheet with the morning`s RNS about the DoC for Libertad. If you`re paying £3k to present at the conference, you might as well do a proper job, and Forum came across as much the most professional in that respect.

No keyrings though :-))

Website is www.forumenergyplc.com

Unfortunately the boss had the lurgy, which meant that the FD had to do the presentation at short notice, which is never easy, and he didn`t sell it as well as he could have done.

The excitement is a combination of near-term cashflow and big gas. Most of their stuff is on one of the central Filipino islands, Cebu. Coal will generate ~$2m/year initially starting this month, and the recently approved Libertad gas to electricity project will supply 2MW to the likes of Intel from H1 2006. They have some more gas discoveries to the north (Maya etc) which were drilled by previous owners but the money ran out. Forum plan to work them over, with a view to more GTE next year.

They`re also processing some old and new seismic offshore northern Cebu, with prospects of 85mmbbl (Jibitnil Island) and 265mmbbl (Tanon) potential among the prospects.

The big excitement is Block GSEC101 (ex Sterling), which is the one that borders the disputed territory of the Spratleys, off the western Filipino island of Palawan. Only `some` of the block may be in the area that`s actively disputed, but it`s pretty obvious that if the Chinese navy decided to start throwing Silkworms and Su-30`s around the area, you wouldn`t want to be on an `enemy` oil rig anywhere in the vicinity.

Shell operate the 3.4tcf Malmpaya field about 75 miles away, which has a pipeline to Manila. Forum`s Sampaguita discovery has been estimated by PGS at 2.3tcf potential, with several more tcf elsewere in the block. Currently processing $5m-worth of 3D seismic, looking to drill within 12 months. Development options include GTL (<sub-tcf), extension of the Malampaya pipeline(1-3tcf) or LNG (>3tcf)



They`re also close to agreeing a deal to acquire Basic Petroleum, who have a bunch of prospects (but only 40bpd production) offshore Palawan.

In some ways they`re a bit of a ragbag of interests, and there is obviously an overexposure to the continuing stability of the Philippines.


On the other hand they are focussed :-) and you are looking at a $60m company with a 400mmboe gas field in Sampaguita (with as much again elsewhere in the block??), another 350mmbbl potential off Cebu, and the bits and pieces of current production from the coal and GTE. According the website :

Potential unrisked reserves estimates for the seven prospects and three discoveries within the licences total some 900 mmbbls in the oil case or 5,500 BCF in the gas case. On a risked basis, estimated potential reserves from the three discoveries sum to 2,330 BCF of gas and estimated risked reserves from prospects within the licences sum to 93 mmbbls or 320 BCF in a gas case.

The presentation might not have been as exciting as it could have been, but I`d suggest that $60m market cap doesn`t really reflect the potential.

Be interesting to hear what others think.

[hainholz]

FORUM ENERGY PLC OPERATIONS
The Group`s assets consist of:

100% interest in GSEC 101 (Reed Bank), an offshore licence which contains the Sampaguita Gas Field as well as several oil and gas leads.
66.7% interest in SC 40 (Cebu), a service contract which contains the onshore Libertad Gas Field and Maya discovery and several other prospects including onshore Jibitnil Island and offshore Central Tañon
An effective interest of 66.7% in two Coal Operating Contracts on Cebu Island containing a number of coal seams.

RESERVES
PGS has produced an Oil & Gas Competent Person`s Report covering GSEC 101 (Reed Bank) and SC 40 (Cebu). On a risked basis, estimated potential reserves from the three discoveries total some 2,330 BCF of gas and estimated risked reserves from prospects within the licences total some 93 mmbbls or 320 BCF in a gas case.

CSA Group has produced a Coal Competent Person`s Report covering the South and Central Cebu COCs held by FEI in which the Company has an effective interest of 66.7 % Proven and probable coal reserves for all tenements are estimated to be 1.4 million metric tonnes and 3.5 million metric tonnes respectively. The figures below summarise the gross reserves of the COCs.

*NOTE: Reserves and resources quoted have not yet been re-defined to JORC or NI43-101 standards.

[hainholz]

http://www.forumenergyplc.com/downloads/Forum251105v3.pdf

[hainholz]

12:39:55 15-Dec-2005 120.00 90,000 108,000.00 Broker to Broker
12:39:55 15-Dec-2005 120.00 200,000 240,000.00 Broker to Broker
12:39:55 15-Dec-2005 120.00 200,000 240,000.00 Cross at the Same Price
12:31:52 15-Dec-2005 120.00 300,000 360,000.00 Ordinary Trade
12:28:47 15-Dec-2005 120.00 300,000 360,000.00 Ordinary Trade


kuriose
trades in London

[hainholz]

und wieder welche

Company Forum Energy Plc
TIDM FEP
Headline Holding(s) in Company
Released 12:03 23-Dec-05
Number 1845W



23 December 2005



Forum Energy Plc (`the Company`)



Notifiable Interest



The Company announces that it received the following notices on 22 December 2005 that:



· on 19 December 2005 Legal & General Group plc (`L&G`) and/or its subsidiaries had an

interest of 899,731 ordinary shares of 10p each in the Company, representing 3.31% of the

issued share capital of the Company. This represents the entire holding of L&G in the

share capital of the Company.



· on 15 December 2005, The Goldman Sachs Group, Inc. (“GS Inc”), was interested, by

attribution only, in 2,608,000 ordinary shares of 10p each in the Company, representing

9.58% of the issued share capital of the Company. Of these shares:

· 2,208,000 shares were held by Goldman, Sachs & Co., a wholly-owned direct
subsidiary of GS Inc, acting as a custodian for its customers. These shares will be
registered in the name of Goldman Sachs Securities (Nominees) Limited; and
· 400,000 shares were held as a beneficial interest by Goldman Sachs International, a
wholly-owned indirect subsidiary of GS Inc.

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

On 17 October 2005, the Company disclosed that Moore Credit Fund Ltd. had a
notifiable interest in 2,208,000 ordinary shares which amounts to 8.11% of the
issued share capital of the Company. These shares were held in the name of
Goldman Sachs Securities (Nominees) Limited.

· on 21 December 2005 FMR Corporation (`FMRCO`), including its direct and indirect
subsidiaries, being a non-beneficial holder had an interest of 1,552,470 ordinary shares of
10p each in the Company, representing 5.70% of the issued share capital of the Company.
This represents the entire holding of FMRCO in the share capital of the Company.

On 8 August 2005, the Company disclosed that FMRCO had a notifiable interest in
1,127,270 ordinary shares which amounts to 4.14% of the issued share capital of the
Company.




For further information please contact:



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



Adam Westcott, Noble & Company Limited: [phone]



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

[phone]

END

[hainholz]

sind wir überzeugt, daß 2006 liefern erheblichen Wert an unsere Aktionäre."

na bitte

[hainholz]

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



Alan B. Henderson

Chairman



David R. Robinson

President and Chief Executive Officer

[sufukli]

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




FEC RESOURCES ORD
Symbol FECOF

Acquisition of Significant Interest in Gold Mining Project in the Philippines

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

SOURCE FEC Resources

[hainholz]

ei ,des ist fein

Öl ,Kohle,Gold

was brauch man mehr

[hainholz]

Press Release Source: Philex Gold Inc.


Philex Gold Inc.: Formal Agreement Finalized with FEC to Explore Lascogon and Danao Properties
Thursday January 5, 7:00 am ET


TORONTO--(BUSINESS WIRE)--Jan. 5, 2006--Philex Gold Inc. (TSX VENTURE:PGI - News) is pleased to announce that its 100% owned Philippine subsidiary Philex Gold Philippines, Inc. (PGPI) has finalized agreements for the Joint Venture of its Lascogon and Danao properties with FEC Resources (FEC). The property, MPSA 148 which comprises 2,306 hectares in the province of Surigao del Norte, Philippines, will be transferred into a joint venture company which will be owned by PGPI and FEC. Under the agreement, FEC will earn a 40% interest in the properties by paying PGPI US $250,000 and advancing by way of loan US $1.0 million to the joint venture company for exploration. FEC may earn an additional 20% by funding the development and construction of the mine, up to US $10 million.
ADVERTISEMENT


Drilling has commenced at Lascogon, with four diamond drill holes totalling 534 metres completed in late 2005. Hole LSD-1 intersected a 13-metre thick limonitic soil horizon containing jasperoid fragments averaging 3.0 g/t gold, while hole LSD-2 cut a 16 metre fractured jasperoid horizon assaying 0.8 g/t. Hole LSD-3 was collared in a 6-metre thick limonitic soil horizon containing jasperoid fragments assaying 1.54 g/t gold and hole LSD-4 cut a 10-metre thick fractured zone believed to be a feeder for the mineralizing fluids and containing fragments of decalcified limestone with pyrite and arsenopyrite disseminations. Cuprite disseminations and fracture fillings associated with the underlying basalts suggest possible copper-gold mineralization at depth. Two rigs have been moved to Danao, where drilling continues. It is expected that initial drilling under the joint venture will focus on the 100 hectare Lascogon prospect, with a ten month exploration and delineation work programme commencing in early January 2005.

The Company announced in September the signing of a Heads of Agreement for MPSA 148 with Transpacific Mining Limited, a company affiliated with FEC. In discussions following this announcement, the Transpacific group indicated the desire to use a Philippine company and FEC to execute the transaction.

Philex Gold Inc. is a Canadian mineral exploration company active in the Philippines. Its interests include the North Project on Mindanao Island, a joint venture with Anglo American plc, as well as the former Bulawan gold mine and a number of gold prospects. The North Project includes the Boyongan copper-gold porphyry deposit discovered in 2000, the separate Bayugo copper-gold porphyry system identified in 2003, and other prospects.

The TSX Venture Exchange has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this release.

Philex Gold Inc. (TSX VENTURE:PGI - News)



Contact:
Philex Gold Inc.
Paula Kember
Vice President Finance
[phone]
Fax: [phone]
[e-mail]

--------------------------------------------------------------------------------

[Kanzler-neu]

Forum Energy Boosts Reserves, Adds Production Offshore the Philippines
http://www.rigzone.com/news/article.asp?a_id=29505" target="_blank" rel="nofollow ugc noopener">http://www.rigzone.com/news/article.asp?a_id=29505

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

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

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

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

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

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

[hainholz]

Das ist ja mal was

in London

[hainholz]

in USA ausgesetzt???????



Quick Quote: 0 (0.00) FECOF

[hainholz]

Forum deckt ein großes Spektrum ab!!

Kohle,Gas,ÖL, und Gold

nur noch eine kurze Frage der Zeit ,wann Forum von den einschlägigen Gazetten entdeckt wird.

Der CEO hat es schon angekündigt,das 2006 für die Shareholder ein gutes Jahr wird.

[hainholz]

20 February 2006



Forum Energy Plc (the “Company” or “Forum”)



Board approve acquisition – correction



The Company announce a correction to the Board Approve Acquisition announcement that was released on 15 February 2006 at 2.16 pm under RNS No 4644Y.



The Company announced that BPMI have an interest in the offshore Galoc field of 8.17 per cent. This interest has since been farmed-down and BPMI currently have an interest of 2.28 per cent. in the Galoc field.





For further information please contact:

[hainholz]

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

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

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

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

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

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

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

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

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

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

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

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

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

[hainholz]

0.06500
+ 0.01 18.18% 787,250 Vol

man wird langsam aufmerksam in USA

[hainholz]

MANAGERANALYSE
Sachverständige Vorstände unterstützen philippinisches Tochterunternehmen
Firmenchef Robinson nicht nur Manager, sondern auch Geologe

David Robinson war in den letzten 16 Jahren in der Ölindustrie und im Investmentgeschäft tätig und leitet das Unternehmen Forum Energy Corporation, ehemals Tracer Petroleum, mit Unterbrechung seit Januar 1999. Der Kanadier war zuvor sieben Jahre lang für Arakis Energy tätig und hat dabei unter anderem für ein Großprojekt im Sudan 200 Mio. USD einsammeln können. Dieses Projekt fördert heute 250.000 Barrels Öl am Tag. Arakis wurde 1998 von Talisman Energy aufgekauft und Robinson verließ die Unternehmung, obwohl man ihm dort den Chefsessel anbot. Er war für Öl- und Gasprojekte im Sudan, Iran, Oman, Papua-Neuguinea, Turkmenistan und Kasachstan tätig.

Robinson verfügt über einen MBA der Queen`s University in Kingston, Ontario. Daneben besitzt er einen Bachelor-Abschluss in Geologie der Universität Columbia in Vancouver und kann damit auch geologische Fachkenntnisse vorweisen. Weil er sich, wie er im Exklusiv-Interview mit dem FFN scherzhaft bemerkt, in geologischen Fragen aber lieber nicht nicht zu weit aus dem Fenster lehnt, beschränkt er sich heute ganz auf die Kapitalbeschaffungsseite. Hierfür reist der 40 jähirge Manager zu Investoren in aller Welt und leistet Überzeugungsarbeit. 2003 konnte er sich einige Monate seinem Posten als CEO bei Aurado widmen und Larry Youell übernahm neben der Aufgabe als Chairman kurzzeitig auch den Vorstandsvorsitz.

Sachverständige Vorstände unterstützen philippinisches Tochterunternehmen

David Wilson ist Director von Forum Energy und Technical Director bei Forum Exploration. Er hält den Kontakt zu Geologen und Physikern auf den Philippinen. Seine Expertise in der Exploration und Entwicklung unterstützt das Unternehmen in geologischen Belangen. Er war, zuletzt als Senior Director, insgesamt zwölf Jahre für Petro Canada tätig. Wilson ist ebenfalls Director und Executive Vice President der National Energy Company Ltd., einem kanadischen Unternehmen mit Projekten in Kasachstan, Aserbaischan und Kalifornien.

Chief Financial Officer ist David Thomson. Er leitet AMS Limited. AMS Ltd. ist eine internationale Unternehmensberatung auf den Bermudas, die über 200 Mio. USD verwaltet und in den Bereichen Unternehmenskäufe, Unternehmensbeteiligungen und Foreign Sales Corporations aktiv ist. Davor war Thomson neun Jahre lang in der niederländischen Larmag Group of Companies als Senior Vice President und Executive Director tätig. Mit Thomson erhält Forum Energy 25 Jahre kumulierte Erfahrung in der Finanzierung an Wertpapiermärkten. Unter anderem hat er 75 Mio. USD für ein Öl- und Gasprojekt in Turkmenistan gewinnen können. Thomson besitzt ein Diplom des Institute of Bankers der University London und ist Certified Management Acountant (CMA) der New York University.

Larry Youell war mehr als 21 Jahre lang in verschiedenen Positionen bei der Consumers Gas Company Ltd. tätig, zuletzt auch als Senior Vice President und General Manager des Haupt-Unternehmensbereiches. Zuvor arbeitete Youell auch als Management Consultant. Youell absolvierte sein wirtschaftswissenschaftliches Studium mit Auszeichnung und hat einen MBA-Abschluss. Er engagiert sich neben seiner Aufsichtsratstätigkeit für Forum Exploration im Branchenverband Ontarios und für wohltätige Zwecke.

Director Barry war Eigentümer und Geschäftsführer der Stansfield Link, einer der größten Werbe- und Promotion-Agenturen in London. Seit dem Verkauf seiner Agentur vor fünf Jahren ist er Partner der BFL Estates, einer englischen Immobiliengesellschaft. Damit ist Barry der Experte für Marketing und Immobilien im Team.

[hainholz]

Forum Energy plc, the AIM-quoted energy group with gas, oil and coal assets in the Philippines, has agreed to acquire Basic Petroleum and Mining Inc (BPMI), whose interests include several producing fields in the North West Palawan Basin.

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

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

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

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

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

[hainholz]

Company Forum Energy Plc
TIDM FEP
Headline Holding(s) in Company
Released 17:12 10-Mar-06
Number 6600Z



10 March 2006



Forum Energy Plc (`the Company`)



Notifiable Interest



The Company announces that it received the following notices:



On 2 March 2006 Morgan Stanley Securities Limited (“MSSL”) was interested in 830,000 ordinary

shares of 10p each in the Company, representing 3.05% of the issued share capital of the Company.

MSSL is a member of the Morgan Stanley group of companies.



This represents the entire holding of MSSL in the issued share capital of the Company.



On 27 February 2006, The Goldman Sachs Group, Inc. (“GS Inc”), was interested, by attribution only,

in 1,570,000 ordinary shares of 10p each in the Company, representing 5.77% of the issued share capital

of the Company. These shares were held by Goldman, Sachs & Co., a wholly-owned direct subsidiary

of GS Inc, acting as a custodian for its customers.



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



For further information please contact:



David Robinson, Chief Executive, Forum Energy

[hainholz]

Antwort auf Beitrag Nr.: 18.243.749 von hainholz am 12.10.05 16:41:45

LATEST RNS ANNOUNCEMENT
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March 29 2006
Disclosure by Basic Consolidated, Inc


Forum Energy Plc (‘Forum’ or ‘the Company’) is pleased to announce that further to the announcement made by the Company on 15 February 2006, the shareholders of Basic Consolidated, Inc. (‘Basic’), at its AGM held on 29 March 2006, approved the acquisition by Forum of its wholly-owned subsidiary Basic Petroleum and Minerals Inc.

The terms of the agreement are set out in the announcement made by Forum on 15 February 2006.

The merger of Basic's petroleum interests with those of the Company is now subject to approval from the Government of the Philippines. The Company will make a further announcement regarding the decision in due course.

An extract of the disclosure made by Basic is appended at the end of this announcement.

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

An extract of the disclosure made by Basic is appended at the end of this announcement.

DISCLOSURE FOR MARCH 29, 2006
During the Annual Stockholders’ Meeting for 2006 of Basic Consolidated, Inc., March 29, 2006, Manila Elks Club, Corinthian Plaza, Paseo de Roxas, Makati City (the meeting was adjourned at 4:50 P.M.), wherein 1,038,150,000 (69.21%) outstanding shares of the Corporation were represented either in person or by proxy, the following resolutions/items were APPROVED:


Minutes of the 2005 Stockholders’ Meeting.
2005 Annual Report and Audited Financial Statement.
Ratification of all acts of the Board and Management of Basic for 2005.
Approval of the Acquisition of Basic Petroleum and Minerals, Inc., a 100% subsidiary of Basic Consolidated, Inc., by Forum Energy Plc., a UK registered corporation. The details were contained in our previous disclosure to SEC/PSE dated February 15, after the Board of Directors approved the acquisition.
Amendment on Article VII of the Articles of Incorporation of BCI reducing the authorized capital stock from TWO BILLION PESOS (P2,000,000,000.00) to FIVE HUNDRED MILLION PESOS (P500,000,000.00), and reducing the par value of its shares of stock from P1.00 per share to P0.25 per share.
Authorizing the Board of Directors to amend the By-Laws of BCI to conform with SEC regulations, etc.
Amendment on the Articles of Incorporation and By-Laws by changing the name Basic Consolidated, inc. to BASIC PETROLEUM CORPORATION.
Election of the following Directors:
- Oscar C. de Venecia
- Sergio M. Locsin
- Ramon L. Mapa
- Francis Chua
- Isidoro O. Tan
- Prudencio C. Somera, Jr. (Independent Director)
- Rufino Antonio Mijares (Independent Director)
- Roberto S. Malonzo
- Sergio M. Andal, Jr.
- Jose P. de Venecia III
- Rogelio T. Serafica
Election of SGV as external auditors with Mr. Aldrin M. Cerrado as the engagement partner.

[hainholz]

Antwort auf Beitrag Nr.: 18.243.749 von hainholz am 12.10.05 16:41:45

Key acquisition gives Forum first production


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

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

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

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

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

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

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

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

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

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

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

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

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

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


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

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


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

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

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

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