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

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