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29 Oct 2014 07:00
FORUM ENERGY PLC("Forum Energy" or the "Company")Trading Update
Forum Energy, the UK incorporated oil and gas exploration and production company with a focus on the Philippines, notes the announcement being made by Philex Petroleum Corporation ("Philex") to the Philippines Stock Exchange today in relation to its financial performance for the nine months ended 30 September 2014.
Because Philex controls approximately 60.5% of Forum Energy (including through FEC Resources Inc), this trading update includes a reference to Forum Energy's revenues.
Accordingly, Forum Energy confirms its unaudited revenues for the 9 months to 30 September 2014 were US$6.1 Million (2013: US$3.4 Million) up 79% year on year, mainly due to the start of production at Phase 2 of the Galoc oil field (SC-14C).
For further information please contact:Forum Energy PlcAndrew Mullins, Tel: +44 (0) 208 616 7297
Executive DirectorExecution Noble & Company, trading as Espirito Santo Investment Bank (Nominated adviser)Harry Stockdale Tel: +44 (0) 207 456 9191Or visit the Company's website:www.forumenergy.com
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