Forum Energy Share Discussion Threads

[spaceparallax] 17/10/2013 15:35

I've sat on mine for a few years and am happy to continue - galoc alone more than justifies the current share price Who knows what might happen with Sampaguita over the coming years - it's certainly in no energy users interests to leave the gas untapped, in the face of increasing demand, whilst they fight over international entitlement.

[spaceparallax] 17/10/2013 15:26

Good to see that the mkt's responding positively.

[moreforus] 17/10/2013 14:15

the next push is on now!

or could be in a few weeks on the refinancing with Philex

[sirshagalot] 17/10/2013 14:14

this should push 90p area.
and the next push will be when UN gives "economic interests to phillipines" on the 200 mile maritime law. then should be £2 at the very least at that point.

[dr knowledge] 17/10/2013 14:10

I've never known a company EVER to react so quickly to dampen down good news, or corresponding positive share price movement.........God it's tough enough being a FEP shareholder without the company doing everything it can to play down everything! ;-)

Ps. We never get the opposite RNS when the share price tanks! :-(

[moreforus] 17/10/2013 13:03

no known reason except the 2 reasons outlined underneath...


Forum Energy Plc Stmnt re Share Price Movement
Print
Alert
TIDMFEP

RNS Number : 7708Q

Forum Energy Plc

17 October 2013

17 October 2013

FORUM ENERGY PLC

("Forum Energy" or the "Company")

Statement re Share Price Movement

The directors of Forum Energy note the recent movement in the Company's share price and confirm that they are not aware of any reason for such a movement.

However, the Company notes the speculation in relation to the status of the Phase II development wells being drilled at the producing Galoc oilfield offshore the Philippines (in which Forum Energy has a 2.27% participating interest). Otto Energy Limited, the operator of the permit, has announced that the results from the flow test of the first development well, 5-H, are still in line with the previous forecast of an overall field production rate of 12,000 bopd gross (272 bopd net to Forum Energy), to be delivered once Phase II is brought in to production which is expected to be in late November 2013.

The Company also announces that it is in the process of negotiating the refinancing of its US$15m related party loan facility with Philex Mining Corporation. The directors of the Company expect this process to be concluded in the coming weeks. A further announcement will be made as soon as these negotiations have been concluded.

For further information please contact:

Forum Energy Plc

Andrew Mullins, Tel: [phone]

Executive Director & Company Secretary

Execution Noble & Company Ltd (Nominated Adv

[rbonnier] 17/10/2013 13:02

Directors know of no known reason for the rise ,so should be back on its way down .Directors appear very keen these days to quash any share price movements with the dreaded we know of no known reason RNS .

[rwatson2] 17/10/2013 09:35

Thanks will take a read

[spaceparallax] 17/10/2013 09:33

Positive news from Galoc, should keep this ticking over nicely.

[moreforus] 17/10/2013 09:26

above news link....

[rwatson2] 17/10/2013 09:23

Why the sudden jump?

[moreforus] 17/10/2013 08:46

Going nuts again....

[timberwolf3] 16/10/2013 19:14

JONNO1 - Good spot mate, if they achieve 12000 a day I make that 272 barrels a day to FEP.

[jonno1] 16/10/2013 18:18

nice hxxp://stocknessmonster.com/news-item?S=OEL&E=ASX&N=652735

[sirshagalot] 09/10/2013 14:34

ok who bought these?

the idea was to let them get back to 50p then buy not 61 p!.

[flyingbull] 30/9/2013 08:55

The October oil stock challenge is still on. Deadline for entries is midnight tonight, Monday 30 September. Good luck!!! 
fb

[sirshagalot] 24/9/2013 13:16

gary how could you! :-(

[daytraders] 20/9/2013 17:34

lol, course you did, why do we need to know you just bought FTO, ramp on the FTO thread if your going to.

[garyfone] 20/9/2013 15:24

sorry guys that might be might fault, sold quite a few to buy FTO worth a quick look. A special dividend of 2.36p per share to be paid on a current price of 9.5p, too good to miss.

[spaceparallax] 20/9/2013 15:11

for the moment but I'm happy to sit and wait.

[sirshagalot] 20/9/2013 14:49

going down as predicted lol

[spaceparallax] 16/9/2013 12:39

that seems the rational route