Forum Energy Share Discussion Threads

[flyingbull] 29/9/2014 14:24

The October oil stock competitions are now open for entries....

[spaceparallax] 18/9/2014 08:30

The resource remains, it all depends how much the powers in the area want to extract it and how much they value FEP's knowhow.

[sportbilly1976] 17/9/2014 15:53

interest certainly here today, same the share price performance cannot match it!

[earnestwipplethwaiteiii] 17/9/2014 09:25

As an old hand at this stock, I really cannot recommend anyone buying unless you wish to join the Undead; the geopolitical situation regarding FEP's greatest asset is, in my opinion, likely to worsen rather than improve, given the belligerence of the Chinese.
There is value in the company - Galoc, for example. But everything will always be overshadowed by the situation I mention.
I sold out more than five years ago at 49p but have kept this on my watch list in the vain hope that one day the situation might be resolved. I have no such hope any more in the medium term.

[ducatiman] 17/9/2014 09:16

no rns expected from the company to defend sp, thats fep management!

[earnestwipplethwaiteiii] 17/9/2014 02:55

hxxp://globalnation.inquirer.net/111205/eu-ph-back-peaceful-resolution-of-sea-row

[duxy786_2] 16/9/2014 23:37

Looks light feps being kicked to the kerb n down the drain....

[firefox6] 16/9/2014 21:31

The Department of Energy (DOE) is coordinating with the Department of National Defense to evaluate Forum Energy's options - FEP News
- Today, 9:31 PM

[sideshowbull] 16/9/2014 16:50

Saw something about Chinese building man mad islands in the area...

[latifs100] 16/9/2014 16:29

any news down 30%

[spaceparallax] 04/8/2014 09:30

Galoc's performing well - how nice it would be if the mammoth SC72 could make progress.

[flyingbull] 31/7/2014 13:32

Ready for a challenge??!! The monthly oil stock competitions for August are open until midnight tonight!!! Good luck!!!

[loading] 09/7/2014 20:49

Forum Energy gets SC72 extension Today, 5:13 PM

[jonno1] 09/7/2014 10:58

zzzzzzzzzzzzz
Forum Energy, the UK incorporated oil and gas exploration and production company with a focus on the Philippines, today confirms that the Philippine Department of Energy has granted the Company's request for an extension to the second sub-phase of Service Contract 72 ("SC72").

The deadline for completion of the second sub-phase, comprising the drilling of two appraisal wells, has now been extended by one year to 15 August 2016;

Further details regarding the Company's plans for SC72 will be made in due course, as and when appropriate.

[jonno1] 01/7/2014 23:54

Otto Repays US$35.9 million Project Financing Facility,18 months ahead of schedule I believe, now debt free ,must be one hell of an upgrade for Galoc??? Fecof up in the US

[flyingbull] 01/6/2014 16:44

Your chance to put words into action.....the June oil stock challenge is still on....deadline for entries is midnight today. Good luck!!! fb

[flyingbull] 30/3/2014 12:51

The April oil stock challenge is now on. Deadline for entry is midnight on Monday 31 March.
Cheers,
fb

[spaceparallax] 21/3/2014 09:15

Galoc is invaluable.

[sirshagalot] 14/3/2014 15:55

increase in revenue from galoc sholud push the share price to a pound.

[flyingbull] 27/2/2014 22:41

The March oil stock challenge is now on. Deadline for entry is midnight this Sunday.

Previous results can be found here.


Good luck!!!

[jonno1] 13/1/2014 09:08

not good

Following Japan's proclamations that it will take over another 280 'disputed ownership' islands, it appears the increasingly dis-approved of Prime Minister Shinzo Abe's path of militarism and provocation is working. As China Daily Mail reports, citing experts, China intends to take back Zhongye Island - 'illegally' occupied by the Philippines, according to the Chinese. The Chinese navy has drawn a detailed combat plan to seize the island and the battle will be restricted within the South China Sea. Philippines military is building up on the island and the Chinese see as 'intolerable' the "arrogance" relying on US support. It seems the Obama administration may have to 'not take sides' in another fight soon...

[jonno1] 11/1/2014 12:46

nothing new but encouraging I guess, been here five years already !

By Iris C. Gonzales (The Philippine Star) | Updated January 10, 2014 - 12:00am


MANILA, Philippines - Energy Secretary Carlos Jericho Petilla is urging the group led by business titan Manuel V. Pangilinan to enter into commercial arrangements with China's state-owned oil producer to finally pave the way for exploratory works at the disputed Recto Bank in the West Philippine Sea.

This, as Petilla said one permanent solution to soaring electricity prices is to drill more oil and gas fields to lessen the country's dependence on the Malampaya gas field in offshore Palawan.

Electricity prices soared last year with the record increase in the generation charge of Manila Electric Co. (Meralco), the country's biggest power distributor, of P3.44 per kilowatt-hour.

"The permanent solution is to drill again but we can only do that if we have a clear signal from the DND (Department of National Defense)," Petilla said.

As such, he said he is urging private investors such as Pangilinan's group to enter into commercial arrangements among themselves.

"That is why I am asking the private sector to see if there can be commercial arrangement among themselves while respecting the service contract terms of the Philippines," Petilla said.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Pangilinan led Forum Energy has a 70-percent stake in the Recto Bank, which is covered by Service Contract 72.

The area is estimated to contain prospective resources of as much as 16.6 trillion cubic feet of gas and 416 million barrels of oil.

Monte Oro Resources and Energy Inc. holds the remaining 30-percent stake in the contract.

The Department of Energy has granted Forum Energy an extension to August 2015 to complete the second sub-phase obligations of drilling wells on SC 72.

Forum sought an extension in the government-mandated work program because of delays in their drilling activities, dragged largely by the geopolitical issues between the Philippines and China

Philex Mining owns 64.45 percent of Forum Energy through its interests in FEC Resources, Inc. and Philex Petroleum Corp.

Petilla said he is urging not just the group of Pangilinan but other private investors whose contracts may be in affected territories.

In October, Pangilinan said Forum Energy is in fresh talks with China's state-owned oil producer China National Offshore Oil Co. Ltd. (CNOOC to hopefully pave the way for exploratory works in the disputed area.

"That's what we're aiming for. We hope to do that to reach a commercial basis for further exploratory and drilling work on the concession but further subject to approval of their government and our government," Pangilinan earlier said.