Lfeaccetfusd Regulatory News (FEP)

12 Mar 2007 15:38

Forum Energy Plc12 March 2007 Forum Energy PLC 12 March 2007 FORUM ENERGY PLC ('Forum') Development of the Galoc oil field Forum Energy (AIM symbol: FEP), the Philippine-focussed independent oil, gas andcoal exploration and production company, notes the announcement made earliertoday by Granby Oil and Gas plc regarding the Galoc oil field developmentoffshore NW Palawan in the Republic of the Philippines. Granby Oil and Gas has successfully closed the project financing for its shareof US$100 million Galoc Oil field development plan and received all thenecessary co-venturers approvals. Forum has a 2.28% carried interest in theGaloc field. First oil production from the field is expected in Q1 2008 at an initial rate of15,000 bopd and the development is expected to recover up to 16mmbbls. Forum intends to provide a full operations update to its shareholders in duecourse. For further information contact: Forum Energy Plc:Russell Harvey Tel: +44 (0)1932 445344 Pelham Public Relations:James Henderson Tel: +44 (0)20 7743 6673 Mob: +44 (0)7774 444163 Charles Vivian Tel: +44 (0)20 7743 6672 Mob: +44 (0)7977 297903 www.forumenergyplc.com Ticker Symbol: FEP This information is provided by RNS The company news service from the London Stock Exchange