LATEST RNS ANNOUNCEMENT

November 14 2008
Appointment of Chief Executive Officer

Forum Energy is delighted to announce the appointment of Dr. Walter William Brown as Chief Executive Officer of the Company with immediate effect. Dr. Brown takes over from Alan Henderson, who has been acting Chief Executive Officer since June 2008 and who will continue in his role as Chairman of the Company.

Dr. Brown has extensive experience in both the mining and oil exploration and production industries in the Philippines. He has several academic qualifications including two undergraduate degrees: B.S. Physical Science (1959), B.S. Geology (1960), from the University of the Philippines, Manila; and post graduate degrees from Stanford University: M.S. Economic Geology (1963), Ph. D in Geology, Major in Geochemistry (1965). He has been associated with a number of companies in this industry including Dominion Asia Equities, Inc. (Belle Corp), Palawan Oil & Gas Exploration (Vantage Equities), 7 Seas Oil Company, Inc. (Abacus), Universal Petroleum (Universal Rightfield) and was previously Technical Director of Dragon Oil Plc, listed on the London Stock Exchange.

Since January 2004, Dr. Brown has been Chairman and Chief Executive Officer of Philex Mining Corporation, a company that, through its subsidiaries Philex Petroleum Corporation and FEC Resources, Inc, has an interest in 18,483,511 ordinary shares of Forum Energy, representing 61.44% of the issued share capital of the Company.

For further information please contact:

In accordance with Schedule 2(g) of the AIM Rules, the following information in relation to the appointment of Walter Brown (aged 69) as a director of Forum Energy is disclosed:

Current directorships:

A Brown Chemical Corporation
A. Brown Company, Inc.
A. Brown Energy & Resources Development Corporation
Alexandra Condominium Corporation
Allied Brown Chemicals, Inc.
Andalusite Corporation
Andaman Corporation
Andesite Corporation
Andradite Corporation
Andrea North Condominium Corporation
Angelian Corporation
Angelus Agri. Corporation
Another Brown Co Inc
Antonia Center
Asia Pacific Demographics Foundation Inc
Bendana Brown Holdings Corporation
Bonsai Agri. Corp
Bonsai Holdings Corporation
Brown Direct Sales Corporation
Brown Resources Corporation
C. R. C. Property Holdings Inc
Casa Miguel Condominium Corporation
Condominium Corporation
Contech Products South Corporation
Corporate Investments Phils Inc
Direct Sales Phils Inc
East Pacific Investors Corporation
Ent. Holdings Corporation
Families for Family International Foundation Inc
FEC Resources, Inc.
Geoex Farms Inc
Global Brands Products Inc
Green Mountain Realty Corporation
Hidden Sea Aqua Farms Inc
Higala Foundation Inc
IEB Currencies Inc
ISM Communications Corporation
Ivy League Square Condominium Corporation
Johan Holdings Corporation
Le Cheval Holdings Inc
Lunocan Agri. Corporation
Manresa Golf & Country Club Inc
Masinloc Consolidated Power Inc.
Migma Corporation
Monte Oro Resources & Energy, Inc.
Nakeen Corporation
National Grid Corp. of the Philippines
Nicolo Corporation
Norphil Properties Inc
North Kitanglad Agri. Corporation
NorthMin Mining Development Corporation
Ortigas Pasig Business Club Inc
Osmium Holdings Corporation
Osprey Holdings Corporation
P.B.J. Foods Inc
Pacesetter Property Marketing Corporation
Pampamilyang Paaralan ng Agricultura Inc
Pauline Farms Inc
PBJ Corporation
PetroEnergy Resources Corporation
Phil Options Market Inc
Philex Gold Inc.
Philex Mining Corporation
Philex Petroleum Corporation
Philippine Realty & Holdings Corporation
Philodrill Corporation
Pine Mountain Properties Corporation
Productivity Center for Asia
Retail International Corporation
Riverview Famil Inns Inc
Riverview Holdings Corporation
Roadside Shops Inc
Semirara Mining Corporation
Shellac Holdings Corporation
Shellac Holdings Inc
Shellac Petrol Corporation
Stancom Inc
Tektite Insurance Brokers Inc
Terra Asia Pacific Development Managers Inc
Union Bank (International Exchange Bank)
Universal Rightfield Property Holdings Inc
Victorsons Trans Cargo Corporation
WAPCO Management Corporation
Xanadu Holdings Inc
Xavier Sports & Country Club Inc

Directorships held in the past five years:

South Bank (formerly KagayAnon Rural Bank)
Union Bank (formerly International Exchange Bank)

Receivership:

On 12 December 2002, Philippine Realty & Holdings Corporation, a company that develops and sells residential / office condominium projects and, to a limited extent, leases commercial and office spaces, was placed into receivership.

Save for the information disclosed above there is no other information falling to be disclosed under Schedule 2(g) of the AIM Rules.