LATEST RNS ANNOUNCEMENT
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Sale of Central Cebu Coal Operating Contract (COC132)
Forum Energy is pleased to announce that it has closed on the sale of COC132 to First Asian Resources and Mining Corporation, a private Philippine Mining Company, having received the necessary approvals from the Philippine Department of Energy.
Under the terms of the Sale & Purchase and Escrow Agreements, US$3,500,000 plus accrued interest was released to Forum at Closing. The proceeds will be used for general working capital purposes.
For further information please contact:
Andrew Mullins, Executive Director, Forum Energy Plc
+44 (0)1932 445 344
James Bromhead / Brian Stockbridge Noble & Company Ltd (Nominated Adviser)
+44 (0)20 7763 2200
James Henderson / Evgeniy Chuikov Pelham Public Relations
+44 (0)20 7743 6674