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Statement re SC72

2 Mar 2015 15:18

RNS Number : 2828G
Forum Energy Plc
02 March 2015
 



 

FORUM ENERGY PLC("Forum Energy" or the "Company")SC72 UPDATE

Forum Energy, the UK incorporated oil and gas exploration and production company with a focus on the Philippines, today confirms that the Philippine Department of Energy ("DOE") has granted a force majeure on Service Contract 72 ("SC72") because this contract area falls within the territorial disputed area of the West Philippine Sea which is the subject of an United Nations arbitration process between the Republic of Philippines and the People's Republic of China.

Under the terms of the force majeure, all exploration work at SC72 is immediately suspended (effective from 15 December 2014) until the DOE notifies the Company that it may commence drilling. As a result, the second sub-phase of SC72 has been put on hold until further notice.

The terms of the second sub-phase and all subsequent sub-phases will be extended by the term of the force majeure.

Further updates on SC72 will be made as and when appropriate.

For further information please contact:

Forum Energy Plc

Andrew Mullins Tel: +44 (0) 208 616 7297

Executive Director

Execution Noble & Company, trading as Espirito Santo Investment Bank

(Nominated adviser)

Harry Stockdale Tel: +44 (0) 207 456 9191

Or visit the Company's website:www.forumenergy.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
STRSSIFIEFISEFD
Date   Source Headline
23rd Jun 20158:02 amRNSResult of Offer
17th Jun 201511:24 amRNSResult of AGM
1st Jun 20151:22 pmRNSAnnual Financial Report
15th May 20152:00 pmRNSOffer to Minorities of Forum Energy plc
15th May 20152:00 pmRNSNotice of AGM, Cancellation and Philex Offer
13th May 201512:34 pmRNSDirectorate Change
29th Apr 201511:43 amRNSForm 8.3 - Forum Energy Plc
28th Apr 20154:21 pmRNSForm 8 (OPD) - Forum Energy Plc
17th Apr 20152:02 pmRNSPossible Cancellation and Offer to Minorities
2nd Mar 20153:18 pmRNSStatement re SC72
25th Feb 20157:00 amRNSFinal Results
29th Oct 20147:00 amRNSTrading Update
24th Jul 20147:00 amRNSHalf Yearly Report
9th Jul 201410:21 amRNSSC72 Licence Extension
12th May 201412:04 pmRNSResult of AGM
28th Mar 20141:31 pmRNSNotice of AGM & Change of Registered Office
10th Mar 20142:58 pmRNSFinal Results
5th Dec 201312:59 pmRNSProduction commenced from Galoc Phase II
21st Nov 20134:23 pmRNSIncrease in Loan Facility
17th Oct 201312:55 pmRNSStmnt re Share Price Movement
5th Sep 20139:05 amRNSStmnt re Share Price Movement
2nd Aug 20137:00 amRNSAppointment of Non-Executive Director
26th Jul 20137:52 amRNSInterim Results
21st Jun 201311:02 amRNSResult of AGM + Board changes
23rd May 20133:24 pmRNSNotice of AGM
20th Feb 201310:26 amRNSFinal Results
25th Jan 201311:09 amRNSSC72 Licence Extension
17th Jan 20139:13 amRNSRequest for SC72 Extension
21st Dec 201210:29 amRNSGaloc Phase II Development Financing
24th Oct 20129:26 amRNSTrading Update
24th Jul 201212:30 pmRNSInterim Results
27th Jun 201211:30 amRNSResult of AGM
21st Jun 201212:01 pmRNSBasic Energy Settlement
7th Jun 20123:40 pmRNSDirector/PDMR Shareholding
7th Jun 20123:37 pmRNSHolding(s) in Company
31st May 201211:14 amRNSHolding(s) in Company
31st May 20129:01 amRNSAdditional Listing & Total Voting Rights
30th May 20122:40 pmRNSAnnual Report & Accounts and Notice of AGM
28th May 20127:00 amRNSExercise of Options
25th May 201212:53 pmRNSIncrease in Loan Facility
9th May 20121:41 pmRNSTrading Statement
24th Apr 20121:18 pmRNSSeismic Interpretation & Resources Update
23rd Apr 20123:46 pmRNSUpdate on Operations at Recto Bank
21st Feb 201212:14 pmRNSFinal Results
27th Jan 20129:28 amRNSUpdate of Operations at Recto Bank
26th Oct 20113:13 pmRNSTrading Update
5th Oct 20119:36 amRNSDirector/PDMR Shareholding
28th Jul 20112:43 pmRNSInterims
29th Jun 20115:34 pmRNSResult of AGM
1st Jun 201112:25 pmRNSNotice of AGM

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