posted
3D Seismic Survey Completed Over Sampaguita Gas Discovery
Friday , August 19, 2005 13:12 ET
CALGARY, Alberta, Aug 19, 2005 /PRNewswire-FirstCall via COMTEX/ --The following was released on behalf of the Board of FEC Resources Inc, by Larry W. Youell, President and CEO:
FEC RESOURCES INC. (OTC Bulletin Board: FECOF; Frankfurt/Munich: FE8) reports that Forum Energy Plc ("Forum"), the UK energy group with gas, oil and coal assets in the Philippines, of which FEC Resources is a major shareholder, has announced (Through a wholly-owned subsidiary of Forum acquired from Sterling Energy Plc) the completion of a key 3D seismic survey across the major Sampaguita gas discovery offshore the Philippines.
Analysis of the results will provide more information on the commercial potential of this highly promising discovery, and help identify the best location for a possible appraisal well to be drilled next year.
Sampaguita lies 250 kilometres southwest of the world-class Malampaya gas field, where operator Shell has installed extensive production facilities and pipeline infrastructure that supplies gas to three Philippine power plants.
Gas has already been tested from Sampaguita during the 1970s and 1980s. A recent independent assessment by petroleum consultants PGS Reservoir Ltd., estimated that the field could contain potential recoverable gas reserves of up to 2.3 trillion cubic feet.
The survey was carried out over an area of 248 square kilometres by DGC Asia Pacific Ltd, part of Veritas, using the M/V Pacific Sword. Veritas will also process the results.
It has been completed just two weeks after Forum arrived on AIM, following a successful 11 million pounds Sterling fund-raising at 1.12 pounds per share. Shares in the company are currently trading at 1.18 pounds per share.
To learn more about FEC Resources, Inc visit www.FECResources.com. To learn more about the Oil, Gas and Coal assets of Forum Energy Plc visit their website at www.forumenergyPLC.com
On behalf of the Board of, FEC Resources, Inc. "Larry W. Youell" President & CEO
This release contains "forward looking statements" as per Section 21E of the US Securities and Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Management is currently reviewing many options and there is no assurance that they will not make decisions other than those now contemplated. The Company is subject to political risks and operational risks identified in documents filed with the Securities and Exchange Commission, including changing and depressed oil prices, unsuccessful drilling results, change of government and political unrest in its main area of operations
For more information please contact Larry Youell at 403-290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
FEC RESOURCES INC. HEADQUARTERS 700 - 2nd street SW suite 1400 Calgary, Alberta Canada T2P 4V5 E-mail: info@FECResources.com Website: http://www.FECResources.com Tel: 1-403-290-1676 Fax: 1-403-398-1382
SOURCE FEC Resources, Inc.
Larry Youell of FEC Resources, Inc., +1-403-290-1676, or info@FECResources.com
posted
Acquisition of Iron Ore Reserves in the Philippines
Tuesday , August 23, 2005 04:56 ET
CALGARY, Alberta, Aug 23, 2005 /PRNewswire-FirstCall via COMTEX/ --FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FECR" or "the company") reports that the company has entered into an agreement to acquire a stake in an iron ore mining license located in close proximity to Manila, Philippines.
In order to pursue prospective interests in an iron ore concession covering 64 hectares with probable reserves of approximately 20 million metric tons, FECR has acquired a 20% stake in Transpacific Mining Limited (TML), a BVI company. The acquisition was funded through a US$500,000 non-interest bearing and unsecured loan from FECR to TML, to be repaid through an overriding royalty at the rate of 5% of gross FOB export sales.
"We are confident that our move into the resources sector and specifically to iron ore, will deliver significant value to our shareholders. Our iron ore operations are situated in a region of the world which we understand very well, and we look forward issuing further information as it becomes available," commented Larry W. Youell, President and CEO.
Mr. Youell concluded, "Now that our oil, gas and coal assets are being successfully managed through Forum Energy Plc we will be solely focused on the generation of a solid revenue stream through our interest in TML."
Further information will be released when available.
FEC Resources Inc. currently holds 36.7% of Forum Energy Plc -- to learn more about Forum Energy Plc visit www.forumenergyplc.com
On behalf of the Board of, FEC Resources, Inc. "Larry W. Youell" President & CEO
This release contains "forward looking statements" as per Section 21E of the US Securities and Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Management is currently reviewing many options and there is no assurance that they will not make decisions other than those now contemplated. The Company is subject to political risks and operational risks identified in documents filed with the Securities and Exchange Commission, including changing and depressed oil prices, unsuccessful drilling results, change of government and political unrest in its main area of operations
For more information please contact Larry Youell at 403-290-1676 e-mail info@fecresources.com or visit the FEC Resources website at www.fecresources.com
SOURCE FEC Resources, Inc.
Larry Youell of FEC Resources, +1-403-290-1676, or info@fecresources.com
posted
Seems like it's waking up...with the price of Gas going crazy, this gas co. should take advantage of it.
FEC Resources Inc. is an oil and gas exploration and production company with activities in Philippines (66% interest in Forum Exploration Inc.) and in Indonesia (a 5% carried interest in the North Tanjung Block PSC). The Company is in discussions with potential partners in a joint venture to develop a number of significant oil fields in Iran that have been offered to the Company.
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CALGARY, Alberta, Oct 04, 2005 /PRNewswire-FirstCall via COMTEX/ --FEC RESOURCES INC. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8) ("FECR" or "The Company") announces the following trading update:
Trading in shares of Forum Energy Plc, of which FECR holds a 36.7% interest, has today closed at 1.445 pounds Sterling per share (US$2.54) on the Alternative Investment Market (AIM) of the London Stock Exchange. FECR holds 9,996,000 shares in Forum Energy Plc giving the investment a current market valuation of US$25,389,840 or approximately US$0.146 per share of FECR (on an undiluted basis)
For General Enquiries email: info*FECResources.com
On behalf of the Board of, FEC Resources, Inc. "Larry W. Youell" President & CEO
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