25th Sep 2009 08:45
For immediate release
25 September 2009
FORUM ENERGY plc
('Forum' or the 'Company')
Sale of interest in Forum Cebu Coal Corporation ("FCCC")
The board of Forum (the "Board") is pleased to announce the sale of its interest in FCCC to CR Nichrome, a Filipino mining company for US$1 million in cash.
FCCC holds the COC131 Coal Operating Contract in Cebu, Philippines.
The proceeds of the sale will be used for general working capital purposes.
For further information please contact:
Forum Energy Plc
Walter W. Brown Tel: +44 (0)1932 445 344
Chief Executive Officer
Andrew Mullins, Executive Director
Noble & Company Ltd (Nominated Adviser & Broker)Brian Stockbridge Tel: +44 (0)20 7763 2200
Or visit the Company's website:www.forumenergy.com
Related Shares:
Lfeaccetfusd