This is huge get in before the heard arrives to work this morning, the new VOG

The Master --- Wow !!!

Minimum 3.4TCF confirmed but up to 10TCF in these sands that have had the 3 drill holes.

Other sands presumably from seismic could contain another 20TCF !!

VOG announcement that sent the shares flying predicted max 2.3TCF !!

3.4TCF alone could have an NPV at 10% of around 800 million!

VOG's lower-end figure was a mere 1 TCF if memory serves!

And even if they farm out 60%, their net holding would still be worth 320 mil - ten-bagger!!!!!!

yes i think that's about right

Difficult to assess costs etc now but in the ground in remote area would say each 1 TCF at this stage worth about 25m at very conservative value. This should value co at close to 100m -- a bit less than yours Soul traders -- but with upside so large it should trade above there.. 3 by end of week ? :-)

And they have at least a small amount of cash in hand (around 5 mil); also their current mkt cap of around 31 mil is barely more than their NAV.

Confidant, that is indeed a very conservative estimate - I've gone for a rough 10% of current gas price, but WDIK?

Remote? They are only 250 km from existing pipeline facilities - I've seen worse!!

I agree we ought to come out on the right side of 100 mil market cap.

Got in for 115p inlcuding costs! Delighted with this - thanks verymuch to The Master for pointing this out!!

Marvellous, Marvellous, Marvellous!!!!! Made 120 profit in the time it took me to call my Dad in England and give him the tip :o)

Soul traders -- you might be right - my valuation is to low. Your ten bagger comment has perhaps never been as valid --- by the end of the week ?

Just also like to say thx to TheMaster -- you're certainly living up to your name today. :-)

Confi, I think the truth probably lies somewhere between the two. I think I'd be conmfortable with your estimate of 100 mil for the next few weeks or couple of months, ten-bagger not out of the question if they confirm further discoveries.

Let's just say I'm happy to sit back and watch the action - profits seem certain, the question is how much, how soon. :o)

Right just re-read statement -- find based on 3D seismic -- not the drill holes

This suggests further away but no worries but I'll go back to the 3 PT not the ten-bagger short term anyway

I was about to say hang on chaps but I see confident has spotted the omission.

From the top of my head;

This is based on 3d, as was Flamant which is a duster.(Dana, Hardman and co today)

Sampaguita, (I'll check the spelling later), has been previously drilled by either Marthon or Shell in the 1970's I think, I cant recall who, some years back.

They know the gas is there, so the 3d is lilely to be a fair representation of what is there, but FEP knew this before the 3d, all it did was confirm it.

So, any rise today may not continue in the near term, be warned, long term once they drill and confirm, it may be a different story.

Still no rush to get in imo.

Now to check the off the top of my head thoughts.

Back soon.

Seawallwalker

agreed comments with only point to note is that share price has been higher before

news here seems to be confirmed minimum size plus upside way above anything

so minimum easily underpins at these levels . Farm out must be on cards -- if they can keep 50% bonanza - 25% and the 300p still looks valid on, and only on the 3.4TCF unless you get really aggressive on discount rates --say 15% or more

place it versus competitors valuations and here at 125p still good looking

just be careful chaps ...... FEP is still a mini-minnow running at a loss and with just this one success in a totally corrupt part of the world (i won't deal there in my normal biz) etc etc etc ..... FEP also still have to get the gas out of the ground which will more than likely mean a major cash call ...... meanwhile the lemmings are rushing in headlong, even though the price has all but doubled this morning.

for myself, i think i shall sit this one out and stay with VOG which arguably has better foundations and many other positives

Thanks confidant, I have just been punting around trying to locate articles I read some 3 to 4 years ago, and it may take some time.

At the risk of repeating whats in the RNS, the 3d siesmic was shot in May 2005, and has been interpreted by Veritas(?), previous estimtes of gas reserves were not too far off what has been announced today from what I see, all they are doing then is upping it and confiorming possible reserves in place.

Next I have discovered that STERLING ENERGY have applied for a Service Contract for GCSE101, on the 22wnd August 2006.

Why if Forum hold 100% of the license?

This from OIl Barrel some while back

Having said that there seemed to be no big prospects on the horizon in the Philippines, Forum has a key asset in the Reed Bank licence, which covers a large offshore area to the west of Palawan Island. In 2005 Forum completed the acquisition of 100 per cent of GESC 101 (Reed Bank) from the UKs Sterling Energy in exchange for Sterling having a 28.6 per cent interest in Forum (pre-fund raising). Reed Bank holds a number of prospects and leads, the most exciting and immediate of which is the Sampaguita gas discovery that could contain over 2.3 trillion cubic feet of gas reserves and is on trend with the giant producing Malampaya gas and oilfield 150 kms away.
Oil Barrel article

Anyway, I am still not tempted to come in here and I do expect it to be a good shorting opportunity once the froth has been blown off.

As cynic says, be careful and be prepared to bank any profit if it looks like dropping back.

The gas in place will only be confirmed after a sustained exploration and assessment drilling campaign

All imo, dyor nag. etc.

http://www.forumenergyplc.com/operations/oilandgas/reed-bank.aspx

The Reed Bank concession, GSEC 101 (Reed Bank), is located in the South China Sea west of Palawan Island. The licence is located to the southwest of the Shell-operated Malampaya Gas Field.

GSEC 101 (Reed Bank) was awarded to Sterling in June 2002 and covered an initial two-year term. Exploration in the area began in 1970 and in 1976 gas was discovered following the drilling of a well. In total, four wells have been drilled to date, all located at the south west end of the structure. Two of the wells tested gas at rates of 3.6 mmcf/d and 3.2 mmcf/d.

This from Forums Web site, so as I said, the find was known about and was descibed as hugew and stranded by Sterling.

Now, as there is an upgrade in possible reserves, that accounts for whats occurring now.

The next thing is, can they make it unstranded, and can they get it to market?

Time will tell.

Good luck people, still not coming in.

Master - excellent spot at 08.53.

Thanks Guy's, my problem is when to sell my 10K worth (now or tomorrow morning)

I would have liked that dillema.

That is a sound trading ethic.

Are you Paul?

1. You could sell and leave enough to be in for less than nothing i.e. take 120% of cost and keep rest

2. This is how I play these things -- or at least try too --- AEN and VOG with similar announcements went like this.

Day 1 +50%
Day 2 +100% -- why more 2nd day -- news splashed over the papers
Day 3 gapped up on opening and then sold down.

So basically sell at 8.10am on the 3rd day . However there will always be exceptions.

Also note both then rose substantially after a period of consolidation BUT AEN is now worthless and VOG trades at a level below where it closed on Day 1

So these are certainly shares to trade. In the long term they may become very big fish, or like AEN worthless. But unless you only have a very small amount of your wealth in the stock so you can just forget it for 10 years, you need to take some profits al;ong the way

Well done guys! Am not in this one, but good to see the little investors hitting the jackpot once in a while. Gives us all hope!

I wonder why the Samnpaguitta did not do for Sterling when they owned it, what it has done for Forum now they own it?

I wonder why Sterling has not reflected this rise today seeing as they own 14% of Forum?

I wonder?

By the way the Times splashed it on the "Rumour of the day" and included Sterling, so I wonder?

http://business.timesonline.co.uk/article/0,,8211-2374631,00.html

Afternoon all.

I'm surprised that some of you aren't a little more positive about FEP's prospects. The reserves estimate is for a field where there is known to be gas - (EDIT) which is not unlike VOG in August last year. Further appraisal drilling will of course be necessary, but one would hope that the likelihood of a duster is less than that of HNR's Flamant and in line with the kind of prospects that are said to remain with VOG (Well 103, and the rest of West Med).

FEP's current production is not huge although they have their coal production coming on stream soon. Discounting the coal scenario, I still don't see why this should not be accorded a higher rating on the basis of current field status plus a decent exploration premium. VOG didn't have much going on at Kemerkol in autumn last year and still eight-bagged on the news of reserves upgrades in the trillions of TCF's. Even when they only had around 16 BCF gas confirmed by D&M on 22 August the compnay was worth around 40 million, so I'd like to think we could see a lot more mileage on this yet.

On the other hand, the SP could languish for months like that of RIFT, but for my money this is a different kettle of fish.

Disagreements welcome - good luck to all!

15% of a 17m pound company is worth c 2.2m

15% of a 35m pound company is worth c4.4m

mkt cap of sterlng 257m -- immaterial even if fep trebles from here

soul in my view, this is a trading stock.

Once the news is out, digested, everyone has had their pound of it, it's time to sell it on.

If anyone holds at these levels, without there being production they will see the profit go.

That's my take.

Frankly it's a nice comopnay if you were in at the recnt lows.

Beyond that who knows where the sp will settle?

I know what I think.

Thansk for that Confident, that explains that.

As for the SP descending sharply - it may do yet but so far it has almost doubled today. I'd be surprised if this didn't find support around the 60-million mark due to its prospects, and without trying to ramp I feel it's worth a good deal more.

Still, each to their own. I missed the rise on GOO so am merely trying to make up for lost opportunities :o)

SWW - I agree that I might not hold my entire holding long-term, but am thinking months rather than days. What I would be keen to avoid is the mistake I made with VOG, where my core holding tripled and I failed to take profits.

Won't lose any sleep though - it's only money, after all.

Just broken the 100% barrier:

FEP Bid: 139p Offer: 143p Change: 72.5 (We closed yesterday around 69p, I believe).


I'm up 20%; my Dad's up 15%. Put together with HNR yesterday, its been a very enjoyable two days.

Well done soul.

I have answered over on HNR.

I'm not saying this is bad, just rememebr to take the money before it rolls back, (however far), because these things have a habit of doing that.

Thanks for the reminder. Due to compliance regulations imposed upon me as a bank employee I have to hang on to the shares for at least a month, but am hopeful that I should still come out on the right side.

And thanks very much, again, to The Master for the tip. Looking forward to tomorrow . . . .

Master

I need to send you bottle bubbly!!!!!


Made 5k today,cheers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

CT .... make sure you bank it then!

CYNIC

Am tempted to sell my IDD and FAO shres as this cover the loss JUST!!

as i/we have all learnt to our cost, a profit is no profit until banked ..... imo, take your profit or at least a ggodly portion thereof ..... FEP just feels to overblown for my liking

Todays FT


SMALL CAPS: GAS FIND DOUBLES PRICE OF FORUM ENERGY SHARES
By Peter Garnhamand Robert Orr

Published: September 27 2006 03:00 | Last updated: September 27 2006 03:00

*Shares in Forum Energy more than doubled to 140p after the explorer revealed that testing at its Sampaguita gas discovery in the Philippines indicated a "world class" gas asset of up to 20,000 billion cubic feet. Analysts at Noble & Company said that while many uncertainties remained, thefind could be worth about500p a share to Forum. But shares in Sterling Energy fell1.4 per cent to 18p despite the fact that it owns a 14 per cent stake in Forum.

well done the "brave guys" of which i was not one ..... sp is up another 20p at opening at about 158 ...... how does one now evaluate this company .... damned if i know, but it is almost 150% certain that sp will race ahead too far (but where to?) on expectation as has been seen previously on the likes of Elixir and Empyrian.

Steady move on upwards today, will need to reinvest profits elseware, any decent tips would help 'Capetown'

if you like the oil/mining sector, then would recommend Petrofac (PFX i think) on which i have already posted my reasons for investing there.

outside the above sector, then take a look at The Restaurant Group (RTN) or even lonely little Pipex (PXC) ... and also Shire Pharma (SHP) which is a really good company

Master,
sold idd and fao and fep profits covered thoes losses!!

Take a look at GME

This is now at th inevitable lurching stage, baskwards and forwards till someone decides where it should go next.

Good luck if you are holding.

IMO, take your profit if not already done so ..... take good note of how sp has performed today .... opened +20p and is now -3p ..... that implies to me that sp has been overcooked already

I get the distinct impression this is going to do a belly flop now.

Not much volume today at all.

I dont suppose for one moment Institutions other than those already in are at all intersted in gas that's still in the ground and may be extracted if it's extracbale.

So do youselves a favour and take your profit while it's still there.

Otherwise, pack a parachute.

All imo etc. good luck.

Still long and strong and don't be fooled into selling just yet, FT newspaper states sp of 500p to be reached.

TM .... can you copy and paste that article please as do not get FT .... too intellectual for me!

Master - can you post a link pease?

I do subscribe but must have missed that.

I agree with TM, with a jump of yesterday of course one can expect a small drop today. The potential is going to be huge and there is going to be a lot of speculative issues from now which can easily increase the share price even more.(IMO)

Judging by the narrow spread the MM's have all they want at the moment, so will it bounce back up off 130p?

FEP Bid: 131p Offer: 132p Change: -9

Obviously I cannot predict the SP movement, but IMO the rise in market cap of 20 million is not a sufficient exploration premium given the amount of gas said to be at stake.

Positive newsflow ought to drive the SP significantly higher if nothing else does.

Okay - judging by what I see here, those that hold don't agree with what I have said, and so I genuinely wish you well.

I will not repeat a word that's previously published.

soul you know me enough to realise I am not trying to do a downer on a good thing. not that anyone has suggested that either.

So because I can see that we can possibly help each other at some point in the future, I am going to leave you all to it.

I will watch with interest in the short term.

I see this stock is destined to become as polemical as SEO :o)

Looks like the market heard you so far, SWW:

FEP Bid: 126p Offer: 130p Change: -12.5

Certainly we can agree to disagree - time will tell. I've been wrong before.

Can't wait for the appraisal drilling though!

soul traders: I believe they will need some funding before drilling. Day rates for rigs are at a premium right now.

was off line all this afternoon en route to NL ..... however i note that TM has singularly failed to reproduce his much vaunted FT article with target of 500p and clearly the market is having second thoughts too

SMALL CAPS: GAS FIND DOUBLES PRICE OF FORUM ENERGY SHARES

By Peter Garnhamand Robert Orr

Published: September 27 2006 03:00 | Last updated: September 27 2006 03:00

*Shares in Forum Energy more than doubled to 140p after the explorer revealed that testing at its Sampaguita gas discovery in the Philippines indicated a "world class" gas asset of up to 20,000 billion cubic feet. Analysts at Noble & Company said that while many uncertainties remained, thefind could be worth about500p a share to Forum. But shares in Sterling Energy fell1.4 per cent to 18p despite the fact that it owns a 14 per cent stake in Forum.

What you up to in NL, I am going to Amsterdam this weekend. Getting the train, only takes 6 hour, and much nicer than flighing...

This provide a better insight of news yesterday, I like the fact its only 250km away from large shell gas infracture.

FEC Holds 35% of a World Class Gas Discovery With a Proven Minimum of 3.4 TCF (Trillion Cubic Feet) and Potential of 20 TCF of Gas
Tuesday September 26, 1:35 pm ET


CALGARY, Alberta, Sept. 26 /PRNewswire-FirstCall/ -- The following was released on behalf of the Board of FEC Resources Inc, by Larry W. Youell, President and CEO:
FEC Resources Inc (OTC Bulletin Board: FECOF; FRANKFURT and MUNICH: FE8) ("FEC" or "the company") reports that Forum Energy Plc ("Forum"), the UK energy group of which FEC Resources holds a 35% equity interest, has today issued the following announcement:

"3D Seismic Programme Results at Sampaguita Gas Discovery


Indicates World Class Gas Asset
Forum Energy (AIM: FEP), the AIM listed oil, gas, and coal exploration and production company focused on the Philippines, is pleased to announce that the interpretation of the 3D seismic programme at the Sampaguita gas discovery indicates a world class gas accumulation with potential reserves of up to 20 TCF ("Trillion Cubic Feet") Forum has 100% of the equity in the licence in which the Sampaguita offshore gas discovery is situated. The block is located off the North West coast of Palawan Island in the Philippines.

Results from the 3D seismic programme and its interpretation performed by independent consultants, Count Geophysics Limited, confirmed a minimum of 3.4 TCF proven gas in place from sands tested in the 3 wells drilled to-date and the extension of the structure to a possible closure of 290 sq. km giving an upside reserves in these sands alone of 10 TCF.

Additional untested sands, which are known to contain gas, could double this figure. The block also contains 8 additional leads which require further work that has the potential to add a further 20 TCF in aggregate.

Forum is in the process of converting the licence to a service contract and plans to drill an appraisal well as soon as possible."

Sampaguita lies 250 kilometres southwest of the world-class Malampaya gas field, where operator Shell has installed extensive production facilities and pipeline infrastructure that supplies gas to three Philippine power plants.

"We are delighted with the news from FEP confirming an asset of enormous potential and through our significant 35% shareholding, it is anticipated FEC shareholders should benefit greatly. It is understood an appraisal is to be sought at the earliest opportunity to bring the gas field to commerciality, which given the potential reserve size and proximity to the Asian markets is an ideal candidate for an LNG facility," commented Larry W. Youell, President & CEO.

Very tricky to predict the bounce now. Any thoughts?

got back from work at 5.30 to find out that i have bought the ten thousand fep that i left on the books this morning. I have paid 1.32 per share.They have closed a lot lower at 1.22. Any way I will sit on these for a while and see how they do. Good luck to all holding these.

Harrycat, agree but there is seem a support formation at around 120p do you think?
Personally I think it may have a little rise from now on leading up to process of converting the license.

Tonker ... we have an office in R'dam ..... often i go via A'dam and also spend a couple of days there, but could not work the trimetable for that this time

will it bounce at 120p?

seemingly not! .... or at least not immediately ..... something feels wrong, but i can't put my finger on it ...... if not in, then suggest stay out until the fog clears a little .... if already in, don't know what i would advise except perhaps lighten the load a bit

cynic - as it seems to be occring as predicted, I would say the market has taken punters for a ride, those who cashed in have done well, those who have not may not enjoy this ride.

Sampaguita was known about before this, so were the reserves, Forum have doubled up on Sterlings work, who gave it away for 14% of Forum shares(Why?), it was described as stranded by them, it still is and it's still in the ground.

Any rise was premature imo.

ok The Master has made us all a bit richer -- thx

But what about the basics -- 3 things I think

1. At minimum 3.4TCF and FEP farm out 75% this thing is close to 3 on a NPV basis -- assumes 6 years to start of production and ready to flow gas at $400m per TCF (this is low)--- that would be at 25% to FEP, so $400m*3.4*.25= $340m or 170m in 6 years time . Current market cap 33m Using discount rate of 12% NPV is c80m

2. Look at the statement from CEO of sterling energy at Sept interims

"with now a sizeable and growing cash position and an active and largely carried exploration portfolio"

"we continue to seek new drilling opportunities and production acquisitions that can bring significant upside"

Now if Sterling Energy know about FEP which they should as a 15% shareholder. Plus small co owns 35% of FEP. Would that small co want money in hand now so they could have some control ? therefore Sterling could take out at a discount to current NPV -- 2 take out minimum --- and look pretty if the upside TCF targets get anywhere near possibilities


3. All this has no upside to potential 20+TCF or that farmout could be 50%. Downside it's worthless so 0p. Uspide downside risk 10:1 plus in my favour, 3:1 at low end


Reloaded

Confident?

No worries ;-)

LOL.

Okay, I'll go along with that, lets see.

Sterling giving this up for 14% of Forum is the issue here.

Why would they do that?

It's only about a year ago.

Either, in their too hard basket or they could not afford more poaper to fund it I suppose.

Look, I promised to stay off the board, so I will now.

I'll put my hand in front of my mouth and watch for a goodly while.

Let's hope it was Sterling's "Shell" moment. Shell were kind to Cairn, Sterling to Forum ?

SeaWall --if I may call you that

Remember your comments of 2 days ago

"Next I have discovered that STERLING ENERGY have applied for a Service Contract for GCSE101, on the 22wnd August 2006. "

"Why if Forum hold 100% of the license?"

Yes and it seems as I probably said, that Sterling may be farming back into their ex license.

Dont make sense to me, poor business at best, unless thay were cash strapped to develop it, seems like a maybe.

I'll leave it now and see how it goes.

Good luck.

bigger fish coming to play at lows??

Article on Oilbarrel.com gives good coverage of recent news and suggests, quoting an evaluation by Edison Investment Research, that the NPV of 3.4 TCF at Sampaguita could be 221p a share.

Oilbarrel.com Homepage

Going to be a lot of press coverage about this huge Gas find over the weekend, with plenty of discussion about possible Shell interest/take-over, will send this back to 160p Monday for sure.

Oil Barrel item

I suggest as it is thought it will take 7 years to bring to market, this sp will not be sustained.

If you read the reserved item, you will see a fair few of my comments have been repeated.

I would say, be careful out there!

Well, that's YOU well wrong Master.

this looks like VOG - gas tomorrow with a big unknown on what tomorrow means

personally i think VOG is a much stronger proposition altogether

Plaudits to the Master for reading this right in the first instance.

I didn't!

I have a sneaky feeling he took the profit and run reading through his posts.

Would that be right Master?

and am glad to say i never got in in the first place!

interesting given the political climate that you like VOG better cynic.

For me what's interesting is:

1. Stock was floated at 110p mid last year --- now less than that

2. Company has so far delivered although I am a bit bemused at the time it took them to interpret the independent data -- but could be just that they wanted to position themselves

3. Sterlings energy's application for a service contract according to Seawall. Well if that is to do with FEP that would be a significant change to why SEY got out of the Philipinnes -- to focus on Africa and Gulf of Mexico -- This would be a positive

4. Shareholder base looks good or at least means these guys were legged over by the intial float story and paid 110p for it

5. SC40 --- Company has been approached by several farm in partners with further seismic results in 4Q

6. Reasonable board by the look of it

7. Using very conservative figures quoted somewhere on this thread that assuming 15% disc rate no upside above the 3.4TCF, 75% taken by farm-in and 7 years before gas flowing the share is worth 221p now -- so a 15% return pa going forward from now or 30p a share/year until flow date

All thiis seems like a happy upside/downside risk to take. No doubt the downside is large but the upside significantly larger

i confess i got into VOG almost by accident insofar as i had never heard of them until i joined LSE (can no longer be bothered with it) ..... at that time, LSE had some very good correspondents, and though i was initially advised to buy at around 90p, i did not get in until a while later.

to cut a long story short, i made quite a lot of money out of the stock by trading "surplus" to my core ...... confess i stupidly bought back in when the price dropped to 200p instead of following my own advice ..... dumb ass ..... ultimately liquidated all but bought back at 73 ands 104.

overall VOG certainly has a cap of approx 3x FEP's which makes it much more liquid.... also, i would be very surprised if VOG do not come up trumps sooner rather than later and they also seem to have some good contacts and even HoA tending towards actual contracts ...... while it is true Kaz is bandit country, so for sure are the Philippines.

as far as i can see, FEP have indeed made a great discovery, but patently lack the wherewithal to extract it, and even once that is secured, the sory is that it could take 7 years to do so! ..... perhaps the stock is worth buying on t/o prospects, but that is always risky logic.

Never buy on t/o prospects.

cynic, have a look at GRV and thell me what you think.

Similar to FEP except their gas is in Italy and it appears to have been written out of the sp since January.

That's what I think will happen here btw.

doh seagoon* ..... or was that merely an echo?

Sorry, where's me manners.

Please?

sorry if i have offended you, though i am sure i haven't .... lol!

Not at all cynic.

Now will you look at GRV please?

ps I am sure you are douing quotes from Neddy Seagoon, but I am unfamilar apart from,

*They fallen in the water.........."

Oh and ........... "Ning, ning ning nign nign nign nign..........!"

Was that a tree shake?

No.

Tree shakes do not occur as often as pi's may think they do.

It was a price flucuation the reasons for which may not at first be obvious.

seagoon .... do you mean 999 or nein nein nein????

We must go back on topic here.

FEP is great with great prospects.

quite right .... enough silliness on here; will rightly get others totally pissed off

You could cheer us all up by buying some FEP stock and putting a floor under the SP :o)

For the record, I sold half my FEP holding on Monday this week to buy some SBT after the huge drop to catch the bounce.

The Master - thank you for sharing that.

what bounce on SBT? ..... there hasn't been one

ttt

Anything happening here?

SP picked up nicely this morning, to around 77 - 80p, now at:

FEP Bid: 75p Offer: 77p Change: 1

Still, at least the SP seems to have bottomed, but WDIK.

I dont think it has, BWTFDIK

Boing! FEP Bid: 78p Offer: 81p Change: 6.5

Boing again!! FEP Bid: 79p Offer: 82p Change: 7.5

And Boing some more!! (sorry about all the Boings but when I collect 30 I get a free set of drinking glasses!).

FEP Bid: 80p Offer: 82p Change: 8

175,000 traded so far.

The word on the other side is that the exercise price of the options issued yesterday (73.5p) is a vote of confidence in the co.

Consensus is that we'll soon be back over 1, but WDIK and PDYOR.

Good luck soul.

But please dont take any notice of insiders posting on ADVFN.

As you say dyor and take ADVFN with huge shovels full of salt.

This spike on low volume is indicative of something coming soon I think.

soul are FEP in Iraq?

They are Phillippines only.

The spike upwards, but profit takeing is rife only a small amount of shares available very volatile, sell off soon as traders will finish there books.

You may be right, but looking good so far.

FEP Bid: 83p Offer: 85p Change: 11

does appear that FEC finished selling - the mkt cap will be corrected to reflect the gas find - back to 120+

expect 1 to be cleared tomorrow. The persistant selling by FEC was the only thing suppressing the price over the past couple of months - correction now started....

Up another 6% at open.

There has to be something not fully in the public domain.

Good luck people.

classic graph that we see time and again. The change happens - stock jumps massively, no one believes, stock price back close to or at previous levels , then further news/rumour and off we go again.

Often the final outcome may be disaster but the pattern is often the same. See VOG, AEN and at the moment RENE to name but a few

That should make RENE a great short for the next 2 weeks by the way although its so small doubt you could do it

bear in mind also that there is an operations update due before the end of the year.....

so large persistent seller out of the way and it would appear any overhang has been cleared... looking at 1.10 - 1.30 for a trading price soon.

Or perhaps the rise was because of this?

Forum Energy Plc ('Forum' or the 'Company')


Press speculation

The Board of Forum notes the press comment today with regards to conversations
with the Chinese National Oil & Gas Corporation and wishes to state that there
is no foundation to this speculation and that the Company has not been in
contact or conversation with the Chinese National Oil & Gas Corporation.

So that's the reason for this mornings prolonged tree shake.

It's not a tree shake at all, lets hope it don't become and earthquake!

Just ditched my FEP - probably the last act of a desperate man, but at least it was off the lows of around 70p.

Have bought into PDR - up 50% this week and looking like a three-bagger on recovery prospects.

soul - this would have come right one day, I just dont think I will live that long!

But then I am advanced in years.

soul

I try to do it the otherway round sell the stock that has just jumped 50% and buy the one that's just taken a beating !! I tend to miss the really big movers mind

Still FEP , nice to see management quick to kick out rumours. Happy to leave in the back cupboard. I'm probably not as old as SWW.

SWW have you thought of bonds or National Saving Certificates. :-)

Confi, trust me, I wouldn't have bought PDR if I didn't think it had some mileage left in it! Although I do still wish I had thought about it a lot harder when it was available for 40p!

Got them thanks confident.

And loads of Premium Bonds.

Never win a thing there though.

I also collect Somerfield saving stamps.

Right, time for my afternoon hot chocolate and a nice pipe full of Old Mariner mixed with hemp.

what's going on today ???

bigger volumes in the turnaround yesterday - perhaps cleared out the seller ? good follow through today.

I would imagine a project update is due fairly soon, with news on further assessment of the reserves + financing / farming out + then an updated production schedule.

I remember a broker target of 200p + , perhaps they've been reminding the market of the upside potential....

Still confident Confident?

OOOPS -- been asleep on this one SWW

waitng for some bigger down days on bigger vols to buy more. Thankfully sitting in at net less than zero thx to TheMaster alerting us via this thread --- ok opportunity cost and all that --- but will probably sit this one out --- maybe in 10 years or so things will get going :-)

the history of this stock since early September 2006 makes very interesting and distinctly salutary reading, unless you were unfortunate enough to be one of the suckered multitude.

eager followers of E&P stocks should be well-warned.

Sounds like VOG

exactly so .... and potentially with a significant number of other companies ..... forti18 has just been gloating at me for taking a decent profit out of SOLA (again), so i have answered accordingly, citing VOG as an example of the folly of failing to take decent profits along the line.

Up we go....!!!

Company Forum Energy Plc
TIDM FEP
Headline Maya well workover
Released 11:45 16-Mar-07
Number 1070T





16 March 2007

FORUM ENERGY PLC

(Forum or the Company)





Maya well workover





Forum (AIM symbol: FEP), the Philippine focussed independent oil, gas and coal exploration and production company, today announces the commencement of the workover of the Forum-2X well at Barangay Maya, Cebu, Philippines, following an extensive refurbishment of the Companys Hycalog Drilling Rig.



Forum-2X was drilled in 2003 to a total depth of 1,732 feet. The well encountered multiple hydrocarbon bearing zones, including a 34-foot net sandstone layer from the gross interval of 1,570-1,610 feet. A flow rate of 217,000 standard cubic feet of gas per day was achieved at that time.



Further news will be released as appropriate.

On the move up today
57 - 62p +5.50p

has wake up from the lows lately

On the move up today
57 - 62p +5.50p

has wake up from the lows lately

hello master, I would like to ask you some advice, as I can see you use the graphs. I have been approached by a company called mds in london. they do a 2 day traing course in london on spread betting ie. practical training worksop. the cost is 2 day training course 1,997. A gold package 3497 or mentorship 3997. Plus a 500 voucher off the cost. I am told by this company that after the course and the use of thir website. I will be able to tell when to buy and when to sell stocks, rather that try to guess which way the stocks are going. they have 20 seat available at a seminar. He has told me that on average after the course the majority of his students make 500 pips a month consistently. what is your opinion on this. maybe you have been on one of these courses yourself. Let me know your views on this. thankyou from janet.

I forgot to mention that I hold 10,000 fep shares and am down quite considerably on them. I bought when the price was high. Maybe they are on the way back up again now. Looking at the top graph and taking into consideration what I have been told about that graph. Now looks like the time to buy a few more.

janet .... you need a good smack bottom!

hi janet hope this helps
The previous SELL-IF signal is now null and invalid. The bearish alert is rejected by todays long white candlestick. Continue to hold the stock and wait for a new signal.

Do not bother yourself with further buying or selling as long as the HOLD tag stays. Keep away from short selling as well.

cynic behave yourself or I will smack your bottom. back to the above cynic have you been on one of these courses? or are they a waste of time. I said to the person who phoned me today that if your courses work them every would eventually become millionaires.

Why are they selling places on courses with a so called magical system, why not keep it to themselves and make millions?? Becuase they are not teaching anything you cannot learn yourself. Shortcuts do not exist.

never been on any course except a golf course

Janet.Did you also know the moon is made of green cheese ?
Joking aside spread betting is exactly what it says on the tin i.e. BETTING
Do not give thousands of your hard earned to these two bit conmen

it sound to me like these classes are big money spinner. They do one class a month and charge approx 2-3 thousand a class over two days per person. They have 15 - 20 pupils per month. This includes using their web site for a year as well. So each month they earn 30,000 - 40,000 per class. Not bad for one teacher. Take care all, and good luck.

What PT said...
books, internet or plain old experiance, would never pay anyone for a course, of course...

Back to FEP, from another board. In reply to an E-Mail, confirming RNS out
next week with a FULL OPERATIONAL UPDATE.

Forum Energy posts 3.44 mln usd FY pretax loss vs 9-mth loss of 1.07 mln - AFX

LONDON (Thomson Financial) - Forum Energy PLC posted a loss of 3.44 mln usd for the year to Dec 31 2006, reported first sales of 0.5 mln usd and said it should have sufficient funding through 2009 based on its current work program.

The AIM-listed company focused in the Philippines reported a 1.07 mln loss in the nine months to Dec 31 2005.

It added it will be actively seeking further opportunities both in the Philippines and outside.

Regarding the Sampaguita gas discovery, chief executive Russell Harvey said the company has made substantial progress in its negotiations to convert the licence into a service contract, and hopes to be awarded the contract in the 'near future'.

Conflict looms over GSEC 101 area that DoE awarded to Forum Energy


And I still have my cash........... bad luck any here.

Luckless or monkey business?

Either way, there were warnings posted at the start of this thread.

And she's still dropping......

How low will this go?,what happened to the HUGE gas find,could this be the time to get in and hold for the longterm?,look at VOG,up from 12 to 30!!

http://www.asx.com.au/asxpdf/20080108/pdf/316txzzsrfln1r.pdf
http://www.pse.com.ph/html/NewsRoom/memos/2008/MEMO_2008-0016.pdf
cyril

http://www.manilatimes.net/national/2008/jan/05/yehey/business/20080105bus6.html
cyril

What is going on here then,up 40% ??????
Any comments regarding buying?.

No

Done a test buy, No stock.

thus probably explaining a rise unjustified by the volume

Also GAR No stock up 20%

I remember making a packet on these last year,but will hold off buying in now on no news and such a massive rise,thx driver,Cynic.

News is regarding Galoc a Oil Well which FEP have just over 2%. Its expected to flow either late March or early April at aroung 23,000bopd and is discribed by one of the CEO's as a well which dreams are made of?
cyril

CEO always say such thing when their shares are in the doldrums.

Galoc well 4
Info can be obtained via the http://asx.com.au
Under the epic of NDO
FEP hold 2.27% so if 23,000bopd is managed it would be 522bopd which for
such a small Company is quite something.
cyril

The header says it all, by the way what is 2% of 23000bod worth?

halifax this is not the gas play, but an oil field which FEP have a small stake
along with NDO.
cyril

I am aware of that but 2.28% 0f a ramped 23000 bopd doesnt amount to a 44% rise in the sp!

Halifax,youre last post,took the words out of my mouth,how can 2% of something equate to a 44% rise,having said that ,FEP has been trading at an all time low,could just be on its way up which for some still needs to climb another 50%.

Yes once bitten twice shy!

The SP had drifted quite badly due to their being a territory dispute,over the gas asset.The latest rise is imo entirely down to the great news from Galoc4 oil well which if you calculate what 500bopd is worth against the M/Cap then the ris can be justified?
Still more news from NDO this am, well surpasses their expectations, need to
go to the ASX for their company announcements.
cyril

http://www.pse.com.ph/html/NewsRoom/memos/2008/MEMO_2008-0127.pdf
cyril

Latest update,
http://www.pse.com.ph/html/NewsRoom/memos/2008/MEMO_2008-0130.pdf
cyril

http://www.mb.com.ph/BSNS20080229118169.html
cyril

Hope that some of you took note of my earlier post, as its up almost 20%.
400bopd minimum and $3,500,000 due on completion of the coal asset,makes this
a very attractive company.
Topped up but kicking myself at not taking a lot more, funds being the real problem as it seemed to be a no brainer?
cyril

well done, but a rise of 5.50p when there is a seeming spread of 3.0p rather takes the gilt off the gingerbread

Seltrade are at 33p bid 50,000
31p offer 1,500
Yes it does as you point out take away some of the gilt, although 10%+ is not to be sneezed at in a couple of hours.
But it does help to steady the boat and with a much bigger prospect to come and FEP have not announced this news officially.
From the Daily Express, news of Service Contract imminent? Not sure what they
mean by iminent, but i just wonder if their energy's in this direction for now?
cyril

Joined the club today 33p, not the best price by the look of it, but this does have a lot going for it and the sp to assets is a joke at the moment !

Looks like I misstimed my entry into this one...(somethings never change)..patience will be the key once again...

This along with several other aim stock have been hit out of proportion to their
assets imo,with a sale of their coal assets and soon to be announced oil
production(which could be as much as 500bopd to FEP). A chance to top up,but
risky in the light of todays market conditions?
cyril

http://asx.com.au
Type in NDO and company announcements for confirmation of Galoc production,
late April. At todays SP i think 25/50% gain is likely once the oil starts flowing,
around 4 weeks? aimo
cyril

FEP will be releasing a RNS shortly to announce production from Galoc,as to
date they have not released any news regarding it and we have had to aquire info
from NDO of the ASX(see previous post).
NDO have a released a 27 page document on the 14th and is worth checking out'
goto page 14 and they value Galoc as worth US$240,000@$80/barrel and
US$320,000@$100/barrel a day revenue to NDO prior to taxes. Now thats for
22.7% of interest and FEP has 2.27% or 10% of NDO's share so this gives some idea what it might to FEP?
So i'm expecting a good trading opportunity here, imo?
dyor
cyril

What about production costs?

News from Nido's (NDO) is that the hook up process is taking longer than expected
so 1st production now put back to early May.
cyril

Flying now.
cyril

Just offered 35.5p, now thats a good profit, over a very short space of time.
cyril

Just back from the nutcase Stanelco thread....and FEP is rocketing....puts me into profit !

Moving up on the expected production update next week.
Only 28m shares issued for FEP, with the majority held by the directors/institutions.
Remember last well news came 2 years ago, when this gets going it flies away fast.

FEP recovering some of the recent gains which were lost, possibly mm's shaking
to weed out some weak investors? With maybe less than 2 weeks for production
start up, will be interesting to what level it might achieve,for me i'm looking for
a reasonable ,as this company although having tremendous protential is extremely volitile due to the polictics and corruption around their assets.
Confirmation of a service contract would do wonders for the SP and according to some is close to being completed and if it comes about would propel this company
well into 3 figures(pence),but this has muted for so long that i will sell on the
benifits of 1st production.
cyril

http://www.asx.com.au/asxpdf/20080423/pdf/318qnl8b51t33y.pdf
cyril

Nice one Cyril

http://www.inquirer.net/specialfeatures/spratlys/view.php?db=1&article=20080425-132667
cyril

http://www.investegate.co.uk/Article.aspx?id=200805020800076311T
cyril

Trading at 32.42/30.5p
cyril

NDO has released more news, the FPSO has arrived and is hooking up, 1st production end of MAY. SP up almost 8% to 34p, should slowly creep up over the next few weeks.
cyril

NDO up 11% on the ASX, things being to hot up. We could see a lot of CFD's
investors arriving as production due to start up next week?
cyril

Ndo up another 4.5% overnight, FEP seems to be breaking out, at 35p?
Just days away from 1st production(end of May),so hoping to see 40p+
before announcement?
cyril

Motoring now, up to 36p.
cyril

Sharp downturn any news?

I cannot find any news anywhere, it is a big drop in sp.

RNS....just out....could be good time to buy more !

I have just left an order to buy more at .28p

Bought back in this am, oil production ecpected next week after minor delay,started move already?
cyril

cyril what was the cause of the minor delay?

Halifax check out NDO on the ASX for the latest, sorry in a rush.
cyril

http://www.investegate.co.uk/Article.aspx?id=200806250700074592X

Also theCEO's stepping down.
cyril

http://www.asx.com.au
Need to click on price sensitive info. Galoc.
cyril

an offer of .48p for your shares news on money am. nice profit if you bought them cheap.

HAVE I GOT NEWS FOR YOU????
http://www.investegate.co.uk/Article.aspx?id=200807020733250997Y
cyril

Jane you beat me to it, almost doubled up yesterday on the strength Galoc.
Still a nice little profit.
cyril

Morning cyril, I bort a poxy 1,000 at 29.5p and nearly bort 2,000 at 26p yesterday, thought it might go lower so waited..doh!

unfortunatly I bought mine a long time ago and am onto a loss. well done to the ones who have bought low

Must be the first one I've got right for the last 18 months. Any idea if the company buying fep are trading anywhere?

What a disaster this has turned out to be.They were on the verge of being awarded the sc on GSEC101 which would have sent the sp 100p+ .But now this so they might as well not even bother about announcing GALOC next week or the sc if it ever happens ! Looks like Game Over for shareholders who will be sent packing with a flea in their ears and 48p for every share.
Very dissapointing to say the least.

Delay of at least a week due to Typhoon damage to retrievable cable.
cyril

Further delay, no production until August?
Update can be got from NDO's news on the ASX.
cyril

RNS Number : 9202Z
Forum Energy Plc
25 July 2008



25 July 2008



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.




Forum Energy Plc

('Forum' or the 'Company')




Response to Rule 2.5 announcement




The board of Forum (the 'Board') notes the announcement made earlier today by Philex Petroleum Corporation ('PPC') setting out the terms of a cash offer (the 'Offer') to be made by PPC to acquire all of the issued and to be issued ordinary shares of the Company which are not already owned or otherwise contracted to be acquired by PPC or any of its associates. The Offer, which values each ordinary share of Forum at 48p and Forum's entire issued share capital at approximately 13.8 million, is being made solely because PPC is required to do so under the rules of the Takeover Code following its acquisition of 4,004,000 ordinary shares of Forum on 1 July 2008.




The Board will consider the offer document once it is posted by PPC and will respond to the Offer in due course.




At this time the Board advises Forum's shareholders to take no action regarding the Offer until they have had the opportunity to consider the Board's response to the Offer. This response will be sent to Forum's shareholders following the posting of PPC's offer document.




Further announcements will be made as appropriate.




For further information please contact:




Alan Henderson Tel: +44 (0)1932 445 344

Forum Energy Plc, Non-Executive Chairman and acting Chief Executive Officer




Nick Naylor / Brian Stockbridge / Jamie Boyd Tel: +44 (0)20 7763 2200

Noble & Company Ltd, Nominated Adviser & Broker




Or visit the Company's website:

www.forumenergyplc.com




Dealing Disclosure Requirements




Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of Forum, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3:30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of Forum, they will be deemed to be a single person for the

purpose of Rule 8.3.




Under provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of Forum by the offeror, Forum or by any of their respective 'associates', must be disclosed by no later than 12:00 noon (London time) on the London business day following the date of the relevant transaction.







A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at

www.thetakeoverpanel.org.uk.




'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the prices of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue or any option in respect of, or derivative referenced to, securities.




Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel.








This information is provided by RNS
The company news service from the London Stock Exchange

END

cyril

are all you holders of fep accepting the offer of .48 pence per share on this offer or not? I have until the 15th aug to accept or not. I am on a loss with this one. Before the offer the share were only worth over .20p. lets here your opions on this one.

Janet the directors sat on the fence on this one,so not really much one can say,
myself i sold out as i felt its a bit a bird in the hand issue?
Suggest you read the RNS throughly before deciding.

http://www.investegate.co.uk/article.aspx?id=200808061630008013A

From that RNS and is the big issue, need to consider why they offered double the SP,its about risk reward so best of luck but it has to be your decision.

the GSEC101 licence is converted into a service contract there could be a significant uplift in the value of Forum Energy, although there can be no guarantee that this value will accrue to Forum Energy Shareholders to whom the Offer is being made. Negotiations with the Department of Energy to convert the GSEC101 licence into a service contract have reached a critical stage. On 4 August 2008, Forum Energy was notified in writing by the Department of Energy that the service contract to be entered into under the GSEC101 licence is in its final draft and that it is planned that formal signing of the service contract will take place in the third week of August 2008.
cyril

Double post,seem to be getting a few blips with the computor..
cyril

Gaffney Cline and Associates (GCA) have completed their independent
review of the Galoc oil field, updating the reserves certification with the
information obtained during the development drilling and well testing.

This review has resulted in a material uplift across all three categories
of reserves -- proved, probable and possible. Reserves at the "proved" level,
which represents the 90% confidence level, have increased by 64% which
provides confidence in a stronger, longer-term production profile for the
field.
Ms. Joanne Williams, Nido's Deputy Managing Director said, "The data
acquired during the drilling of the pilot well and the two horizontal
production wells were very encouraging and we are now very pleased that GCA
has confirmed our expectations of the Galoc oil field's productive potential.
Not only has the low side moved significantly closer to the previous 2P best
estimate of the potential in the Galoc 3 and Galoc 4 areas, but the increase
in the 3P reserves (which is included in the Phase 2 development) has
highlighted the upside potential of the field available through further
drilling."

The petroleum fiscal regime in the Philippines is one of the best in Asia
offering a favourable contractor take and numerous other fiscal incentives.
Given that the Galoc oil field development has a large cost recovery pool the
resulting production will realise very high profitability metrics per barrel
of oil produced, which will be among the highest in the industry.

Nido's Chief Executive Officer, Mr Jocot de Dios said, "When it comes to
value and cashflow, no barrel of oil reserves is the same as any other --
there is more "bang" for the reserves "buck" in the Philippines and this is
one of the reasons why Nido chose to focus its interests here. Galoc is
expected to pay back Nido's investment in only a few months, and especially
in the following 12 to 24 months, the cashflow returns from Galoc will be
substantive."
cyril

Can't believe nobody's noticed importence of this Service Contract,its truely enormous.
cyril l

Missed out here....I had some of these a few years ago.....just went off the radar screen until yesterday.....

put me, for one, in a fab mood anyay .Have only held a few ks worth anyway 10,,000 at 32p to 37p - held through thick and thin -always more in hope than much else........but being a % player ; and after the 50% rise in s/p yesterday and the phenomonal upsurge this morning im selling half to give me a free ride on the remainder.

Looks good to me this one
22 February 2010



FORUM ENERGY plc



("Forum Energy" or the "Company")



Audited results for the year ended 31 December 2009



Forum Energy, the UK incorporated oil and gas exploration and production company with a focus on the Philippines, today announces its audited results for the year ended 31 December 2009.



OPERATIONAL HIGHLIGHTS



Company-changing development via award of Service Contract 72 (SC 72) over the GSEC101 licence area on 15 February 2010;

Galoc production of 2.5 million barrels gross in 2009; expected to stabilise at 2.3 million barrels gross in 2010; Forum Energy has a 2.27% interest in the field;

Completion of rationalization of non-core coal assets through sale of Forum Cebu Coal Corporation for US$1 million in cash;

Department of Energy approval of Gas Sale and Purchase Agreement (GSPA) on the development of the Libertad Gas Field in Cebu; and

Continued programme to review multiple domestic and international opportunities.



FINANCIAL AND CORPORATE HIGHLIGHTS



Net cash and cash equivalents of US$4.1million as at 31 December 2009 (2008: US$2.6 million);

Shareholders' equity of US$44 million as of 31 December 2009 (2008: US$45 million);

Revenues of US$1.8 million in 2009 (2008: US$0.7 million); and

Fixed overhead costs reduced by 41% in 2009 compared to 2008.



Water Brown, Chief Executive Officer, commented:



"Forum Energy is extremely well placed to take the fullest advantage of its SC72 asset. Forum now has the ability to move forward with the development of the potentially world class gas discovery at SC72 and to move into the appraisal process. We believe that this will create material value for our shareholders and we look forward to releasing more specific details shortly."



The technical information in this announcement has been reviewed and approved by Count Geophysics Limited and Oilfield Production Consultants (OPC) Limited, both independent consultancies which performed the interpretation of the Company's 3D and 2D seismic programmes.





For further information please contact:



Forum Energy Plc

Andrew Mullins, Executive Director Tel: +44 (0) 1932 445 344


Execution Noble & Company Limited

Harry Stockdale / John Llewellyn-Lloyd Tel: +44 (0) 20 7456 9191


Pelham Bell Pottinger

Nick Lambert / Henry Lerwill Tel: +44 (0) 20 7337 1500


Or visit the Company's website:

www.forumenergyplc.com



Overview



The Company's principal asset is a 70% interest in Service Contract 72 (SC72), formerly GSEC101, an 8,800-square kilometre offshore petroleum licence situated west of Palawan Island in the South China Sea.



In 2006, results from a 248-square kilometre 3D seismic survey over the licence area indicated mean 3.4 Trillion Cubic Feet (TCF) gas-in-place (GIP) with significant upside potential.



During 2008, Philex Mining Corporation, a company listed on the Philippine Stock Exchange, acquired an effective 61.44% controlling stake (held directly and indirectly) in the Company through a tender offer for all shares at 48 pence per share. An additional fundraising in November 2009 of 1.5 million (approximately US$2.4 million) at 50p has increased Philex Mining Corporation's stake (held directly and indirectly) to 62.59%.



On 15 February 2010, GSEC101 was converted to SC72 by the Philippine Department of Energy.





CHIEF EXECUTIVE'S STATEMENT



Forum Energy has made significant progress with the recent award of SC 72 (formerly GSEC101). Having worked for over three years on the conversion of GSEC101 to a Service Contract, this award paves the way to the delivery of material value to Forum Energy's shareholders with the exploitation of a potentially world class gas deposit. Forum will announce its future plans regarding further appraisal of SC72 shortly. It is the Company's intention to commence further appraisal work, without delay.



In 2009, Forum Energy recorded a gross profit of US$0.2 million in the year ended
31 December 2009 compared to a loss of US$0.3 million for the previous year due to the commencement of production revenues from Galoc and the increase in oil prices during 2009. Revenues increased by 153% to US$1.8 million, G&A costs reduced by 41% to US$2.6 million, and net cash and cash equivalents increased to US$4.1 million. The Company finalized the streamlining of its non-core coal assets successfully through the sale of its last coal concession.

This is a pump and dump

It seems to be working, this morning...

Why the ..?

OilVoice Morning Mover - Forum Energy
Wednesday, April 25, 2012
Forum Energy (LON:FEP, 168.50, ▲ 68.50%) is this mornings winner, pushing +68.50% towards 165p by 12:30GMT.

The company had reported findings of 4.6 trillion cubic feet (TCF) of gas and 115 million barrels of oil and liquids at the Sampaguita Gas Field in Recto Bank.

'The Weatherford Report shows an improvement in the resources previously known and supports the case to proceed with the drilling programme,' said Forum Energy chair Robin Nicholson.

The UK based gas & oil E&P company mentions that the amount of gas found is 24 percent higher than the findings confirmed in 2006.

Forum Energy has said the report would be shown to the board later this week.



Read more: http://www.oilvoice.com/n/OilVoice_Morning_Mover_Forum_Energy/fc0abcdeac81.aspx#ixzz1t3YJrcaP

moving fast

Will it reach £2

yep.

yehaaaaaaaaaaaa

Missed out here.....probably too late to get in...

buying at 210, must level out soon

Huge gas find here as well, going through the roof.

kerrrrrrrrrrrrrrrrrrrrrrchninnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnngggggggggggggggggggggggggggggggggggggggggggggggggggggggg

Trust you to find this one. lol

gibby

Your kechninnggg, you can’t be holding every share that goes up you would be retired on a beach somewhere.

Remember he holds otc, and rrr.lol

sorry gibby. :-))

crazy.lol

Going to go through £2.50

ok then £3

sold half.

I had to get some......

Im out, fantastic.

Incredibl.

Made a quick buck.....remembering the sharp spike that was here a few years ago......I doubt if they will drill this year...probably next....mid year....

dc i saw your 237 ref otc rrr comment lol and you are absolutely correct i would have said the same :-)))) they'll come good one day???????????!!!!!!!! did i just say that!!!!

driver i saw fep on the up earlier today before lunchtime - looked promising for another 10, 20% or so - had a reasonable punt - went way way beyond expectation - out at 255 lol helps make up for - otc rrr!!!! a bit

lol gibby, dont we all have them sou, xtr. I dont anymore lol. Some shares only ever seem to go one way and thats not up.

will be watching here tomorrow - only 50M shares issued so interesting day ahead - if drops may have a second helping here - just remembering REG a week or so back went balistic on no news just a new issue but not many shares in issue again - realise different commodity blah blah but think this may have some legs tomorrow - dont want to lose todays hard earned here by jumping in too early tomorrow just to watch in tank lol - what a day and well done to dc and any others here :-))))

Hope it goes well for you gibby, and well done to you as well.

dc indeed yes - and busybee mentioned on otc words to this effect 'you can average down only so much..........' some shares seem to average right down to zero! that not nice :-((

sometimes really can be throwing good money after bad - i have reached that conclusion with otc - rrr still hopefull

Just done that with xel and down she goes. They are in the bottom draw now. Agree.
Have a fair average now, had no chance as you know before.

Keep an eye on AHG......that's another micro-minnow that could double in a flash !...

3 directors selling huge quantities of shares... FEP is a sell.

http://www.smallcapnetwork.com/Forum-Energy-FEP-LSE-Nido-Petroleum-has-launched-a-108-million-takeover-offer/s/via/34672/article/view/p/mid/1/id/166/

This againsr a M/Cap of just £8.75(roughly $13.5m) at present???

So 8 times its present value.
Shows what patience can achieve,if the fundamentals are right.