Forum Energy Plc ("the Company"), the AIM quoted oil, gas and coal company with assets in the Philippines, announces that it has extended the exclusivity period with Basic Consolidated, Inc. ("Basic") to 3 April 2006 while it seeks to finalise the acquisition agreement.

The agreement, summarised in the Admission document, details an exclusive time period within which the two parties would work towards the achievement of a merger of Basic’s petroleum interests with the Company.

The exclusivity period of the original agreement, dated 17 May 2005, was extended by the Company on 17 November 2005 and was due to expire on 31 January 2006. The Company and Basic have now agreed to extend this deadline to 3 April 2006.

The petroleum interests of Basic Petroleum, Inc. are solely based in the Philippines and the surrounding waters.

For further information please contact:
David Robinson, Chief Executive, Forum Energy plc: +44 (0) 1932 445 346
Adam Westcott, Noble & Company Ltd: +44 (0) 131 225 9677
Ian Foster, First City Financial Public Relations: +44 (0) 20 7436 7486 or +44 (0) 7739 185 050