18th Nov 2008 08:20
18 November 2008
Forum Energy Plc
("Forum Energy" or the "Company")
Sale of Central Cebu Coal Operating Contract (COC132)
Forum Energy is pleased to announce that it has closed on the sale of COC132 to First Asian Resources and Mining Corporation, a private Philippine Mining Company, having received the necessary approvals from the Philippine Department of Energy.
Under the terms of the Sale & Purchase and Escrow Agreements, US$3,500,000 plus accrued interest was released to Forum at Closing. The proceeds will be used for general working capital purposes.
For further information please contact:
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Forum Energy Plc: |
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Andrew Mullins |
Tel: +44 (0)1932 445344 |
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Executive Director Company Secretary |
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Noble & Company Ltd: (Nominated adviser) |
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James Bromhead/Brian Stockbridge |
Tel: +44 (0)207 763 2200 |
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Pelham Public Relations: |
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James Henderson |
Tel: +44 (0)20 7743 6674 |
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Evgeniy Chuikov |
Or visit Forum's website:
www.forumenergyplc.com
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