Lfeaccetfusd Regulatory News (FEP)

19 Aug 2005 10:30

Forum Energy Plc19 August 2005 Forum Energy Plc 19 August 2005 Forum Energy Plc ('Forum Energy' or the 'Company') 3-D seismic completed Forum Energy announces today that a key 3-D seismic survey over the Sampaguitagas discovery offshore the Philippines has been completed. The Company willbegin analysing the data shortly to evaluate the commercial potential of thisdiscovery, and to help identify the best location for a possible appraisal wellto be drilled in 2006. Sampaguita is located within licence area GSEC 101, west of Palawan Island inthe South China Sea, and Forum Energy holds 100 per cent of the licence. Itlies 250 kilometres south west of the Shell-operated Malampaya Gas Field. Gashas already been tested from Sampaguita during drilling in the 1970s and 1980s. The survey was carried out over an area of 248 square kilometres by DGC AsiaPacific Ltd, part of Veritas, using the M/V Pacific Sword. Veritas will alsoprocess the results. Forum Energy Chief Executive David Robinson said: "We are delighted to havecompleted this important survey so efficiently, and are confident thatstate-of-the-art 3-D seismic technology will give a much clearer understandingof the extent of this potentially highly significant gas discovery." This survey has been completed just two weeks after the Company listed on AIM inconjunction with an £11 million placing at 112p per share. A pre-IPO placing inMay 2005 raised approximately £3.4 million at 100p per share. For further information please contact: David Robinson, Chief Executive, Forum Energy Plc: +44 (0) 7917 808 650 Adam Westcott, Noble & Company Limited: +44 (0) 131 225 9677 Ian Foster, First City Financial Public Relations: +44 (0) 20 7436 7486 +44 (0) 7739 185 050 This information is provided by RNS The company news service from the London Stock Exchange