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

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