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 31 January 2006 while it continues the technical due diligence on the assets.

Pursuant to an agreement of 17 May 2005 with Basic, the period of exclusivity during which the parties would work towards the achievement of a merger of Basic's petroleum interests with the Company expired today, 17 November 2005, as detailed in the Company's Admission document.

The Company will make further announcements as the transaction progresses.

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

For further information, 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