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Philex group ups loan to local Forum Energy unit

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Philex Petroleum Corp. and Philex Mining Corp. have agreed to lend more money to Forum Energy Plc.’s unit, Forum Philippines Holdings, to help it meet working capital requirements.

Posted: November 23rd, 2013 in Headlines | Read More »

Oil drilling group gets 2-year extension

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Forum Energy Plc has secured a two-year extension for its work program under Service Contract 72, Philex Petrolem Corp., a major shareholder, said on Monday, Jan. 28, 2013.

Forum Energy Plc, which is exploring for oil and gas within the highly contested Recto Bank off the West Philippine Sea, has secured a two-year extension for its work program under Service Contract 72.

Posted: January 28th, 2013 in Editor's Pick,Headlines | Read More »

Forum wants to start Recto Bank drilling

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PLDT chairman Manuel V. Pangilinan: Signs of growth.   INQUIRER FILE PHOTO

Forum Energy Plc is hoping to finally start by March next year its planned $75-million oil and gas drilling program at the controversial yet highly prospective Recto Bank.

Posted: November 5th, 2012 in Latest Business Stories | Read More »

Forum Energy seeks partners

Forum Energy PLC is shopping around for potential partners in the exploration and development of the Recto Bank, which is estimated to hold about 16 trillion cubic feet of natural gas.

Posted: April 27th, 2012 in Headlines | Read More »

Recto Bank said to hold more gas, oil

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Forum Energy Plc, which is exploring for oil and gas within the controversial but highly prospective Recto Bank, confirmed Tuesday that there was an “improvement in the resources” estimate believed to be contained in the area, otherwise known as Service Contract 72.

Posted: April 25th, 2012 in Headlines | Read More »

Forum Energy to explore Recto Bank next year

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Forum Energy Plc may spend anywhere between $70 million and $100 million to finally drill a deepwater exploration well within the contested Recto Bank by next year, as it targets to tap gas-rich blocks within the area.

Posted: November 24th, 2011 in Latest Business Stories | Read More »

Firm gets 26% stake in oil driller

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Publicly listed Atok-Big Wedge Co. Inc. has acquired a 26-percent stake in Forum Energy Plc, a company that is currently exploring the highly prospective sites in Recto Bank in offshore Palawan for oil and gas. In a disclosure to the Philippine Stock Exchange, Atok-Big Wedge said the stake was acquired through the acquisition of Hong [...]

Posted: October 4th, 2011 in Headlines | Read More »

Forum Energy seeks partners to develop Sampaguita project

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UK–based Forum Energy Plc is seeking potential partnerships to accelerate the exploration and development of the Sampaguita gas discovery within the Reed Bank basin. Robert Nicholson, executive chair of Forum Energy, said he expected the completion of the company’s first sub-phase work program for Service Contract 72 to give them “significant additional information.” This data, [...]

Posted: June 11th, 2011 in Headlines | Read More »

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