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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Forum Energy | LSE:FEP | London | Ordinary Share | GB00B07C1T48 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 15.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMFEP
RNS Number : 2828G
Forum Energy Plc
02 March 2015
FORUM ENERGY PLC
("Forum Energy" or the "Company")
SC72 UPDATE
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 ("DOE") has granted a force majeure on Service Contract 72 ("SC72") because this contract area falls within the territorial disputed area of the West Philippine Sea which is the subject of an United Nations arbitration process between the Republic of Philippines and the People's Republic of China.
Under the terms of the force majeure, all exploration work at SC72 is immediately suspended (effective from 15 December 2014) until the DOE notifies the Company that it may commence drilling. As a result, the second sub-phase of SC72 has been put on hold until further notice.
The terms of the second sub-phase and all subsequent sub-phases will be extended by the term of the force majeure.
Further updates on SC72 will be made as and when appropriate.
For further information please contact:
Forum Energy Plc
Andrew Mullins Tel: +44 (0) 208 616 7297
Executive Director
Execution Noble & Company, trading as Espirito Santo Investment Bank
(Nominated adviser)
Harry Stockdale Tel: +44 (0) 207 456 9191
Or visit the Company's website:
www.forumenergy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
STRSSIFIEFISEFD
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