Forum is pleased to announce that its wholly owned subsidiary, Forum (GSEC101) Limited, has entered into an amendment to the Heads of Agreement signed with Monte Oro Resources & Energy, Inc. ("Monte Oro") in August 2007 (the "Joint Venture").

Under the terms of the amendment, Monte Oro will immediately acquire a 30% participating interest in GSEC101 upon payment to Forum of US$1,700,000 in respect of past costs and expenses incurred by Forum. Following this transaction, which is subject to Philippine government approval, Forum will hold a 70% interest in GSEC101.

The participation of Monte Oro in Forum’s application to convert GSEC101 to a full service contract, now pending with the Department of Energy, will entitle the Joint Venture to the Filipino Participation Incentive Allowance ("FPIA") which equates to 7.5% of gross proceeds from any future production.

Monte Oro will continue to assist in obtaining all regulatory approvals for the conversion of GSEC101 into a service contract.

The tri-partite agreement between China, Vietnam and the Philippines, which the Company believes may have delayed the conversion of GSEC101 to a service contract, expires this month.

Alan Henderson, acting Chief Executive Officer, commented:

"We are very pleased to have solidified our relationship with Monte Oro which, amongst other things, guarantees our qualification for the FPIA thus enhancing the attractiveness of any future development on GSEC101. Furthermore, the immediate injection of US$1,700,000 demonstrates Monte Oro’s confidence in the project, as well as further strengthening our balance sheet going-forward."

For further information please contact:

Alan Henderson, Non-Executive Chairman and acting Chief Executive Officer, Forum Energy Plc
+44 (0)1932 445 344

Andrew Mullins, Company Secretary, Forum Energy Plc
+44 (0)1932 445 344

Nick Naylor or Jamie Boyd, Noble & Company Ltd
(Nominated Adviser & Broker)
+44 (0)20 7763 2200

James Henderson, Pelham Public Relations
+44 (0)20 7743 6673
+44 (0)7774 444 163