6th Feb 2007 09:30
Forum Energy Plc06 February 2007 6 February 2007 Forum Energy Plc ("Forum" or the "Company") Issue of Equity Forum Energy (AIM: FEP), the AIM-listed oil, gas and coal exploration andproduction company focused in the Philippines, today announces the termination,by mutual consent, of the contract with ESG Dubai Partnership ("ESG") for theprovision of technical management services. These services will now be providedin-house by the Company. Ian Baron, Non-Executive Director of the Company, isalso a vice president of ESG. With regard to the settlement of outstanding amounts due by the Company to ESG,Forum has agreed to issue 75,000 fully paid up ordinary shares of 10p each inthe capital of the Company, representing 0.26% of the Company's issued sharecapital, to ESG at 77p per share. This price represents the average closingshare price of the Company's shares for the 19 business days in December 2006.Application has been made for these shares to be admitted for trading on AIM andit is expected that the shares will be admitted at 8.00 am on 9 February 2007. For further information please contact: Forum Energy Plc:Russell Harvey Tel: +44 (0)1932 445344 Noble & Company Ltd:Adam Westcott Tel: +44 (0)207 763 2200 Pelham Public Relations:James Henderson Tel: +44 (0)20 7743 6673Mob: +44 (0)7774 444163 Charles Vivian Tel: +44 (0)20 7743 6672Mob: +44 (0)7977 297903 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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