17th Jan 2013 09:13
FORUM ENERGY PLC
("Forum Energy" or the "Company")
Request for SC72 Extension
Forum Energy, the UK incorporated oil and gas exploration and production company with a focus on the Philippines, notes press reports in the Philippines today concerning Service Contract 72 ("SC72") and confirms the Company has requested an extension to the second-sub phase of the Service Contract 72 contract from the Philippine Department of Energy ("DOE")
Drilling work had been scheduled to be concluded at SC72 within the second Sub-Phase of the Service Contract on or before 14 August 2013, however the requisite approvals from the DOE to conduct the proposed work programme (comprising of a geotechnical survey and the drilling of two appraisal wells) have to-date not been received. In addition the Company is currently awaiting approval on the extension request.
Further updates will be made as appropriate.
For further information please contact:
Forum Energy Plc
Andrew Mullins, Tel: +44 (0) 1932 445 344
Executive Director & Company Secretary
Execution Noble & Company Ltd (Nominated Adviser & Broker)
Harry Stockdale, Tel: +44 (0) 207 456 9191
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