Lfeaccetfusd Regulatory News (FEP)

29 Jan 2009 07:00



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."

For further information please contact: 

Forum Energy Plc +44 (0)1932 445 344Andrew Mullins, Executive Director Noble & Company Ltd  (Nominated Adviser) +44 (0)20 7763 2200James Bromhead / Brian Stockbridge Pelham Public Relations  +44 (0)20 7743 6674James Henderson / Evgeniy Chuikov