LATEST RNS ANNOUNCEMENT

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Forum recorded a loss of US$1,657,000 for the interim period ended 30 June 2008 (US$1,739,000 for interim period ended 30 June 2007). This was primarily attributed to administrative expenses.

Revenues for the period increased to US$389,000 (2007: US$370,000) and were derived from oil production from the offshore North West Palawan interests. An increase in other administrative expenses to US$1,777,000 (2007: US$993,000), due primarily to one-off legal, termination and other payments, was offset by lower provisions for share-based payments of US$32,000 (2007: US$416,000) and net financial income of US$297,000 (2007: US$143,000 net cost).

OPERATIONAL HIGHLIGHTS

• First Galoc production due 3Q 2008.
• Formalised joint venture with Monte Oro Resources & Energy through a 30% farm-out of GSEC101 crystallising the Filipino Participation Incentive Allowance, influential local involvement and US$1.7 million in back-costs.
• Agreed final work programme for GSEC101 with the Philippines Department of Energy.
• Finalised sale of COC132, subject to government approvals, and continued optimisation of remainder of portfolio.
• Continued to implement plan to refocus the Company to take full advantage of GSEC101.

• Revenues of US$389,000 for the interim period ended 30 June 2008 (US$370,000 – 30 June 2007).
• Loss of US$1,657,000 for the interim period ended 30 June 2008 (US$1,739,000 – 30 June 2007).
• Shareholders’ equity of US$47.3 million as of 30 June 2008 (US$50.6m – 30 June 2007).
• Working capital of US$6.2 million as of 30 June 2008 (US$3.6m – 30 June 2007).
• Exercise in 3Q of 590,000 stock options and issue of 722,412 shares under Forum Long Term Incentive Plan increasing total shares in issue to 30,024,121 following their admission to trading on AIM.

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READ THE FULL INTERIM RESULTS

Please see the Interim Results for the six months to 30 June 2008 document for the full document with financial statements and notes that go with this report.

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