FEC Reports on FEP Request for SC72 Extension
CALGARY, Alberta, Jan. 21, 2013
CALGARY, Alberta, Jan. 21, 2013 /PRNewswire/ -- The following was released on
behalf of the Board of FEC Resources Inc., by Carlo Pablo, Chairman:
FEC RESOURCES INC. (OTCBB: FECOF, Frankfurt/Munich: FE8) ("FEC") wishes to
advise shareholders that it has noted the following announcement made by Forum
Energy PLC. ("FEP").
"Forum Energy, the UK incorporated oil and gas exploration and production
company with a focus on the Philippines, notes press reports in the
Philippines today concerning Service Contract 72 ("SC72") and confirms the
Company has requested an extension to the second-sub phase of the Service
Contract 72 contract from the Philippine Department of Energy ("DOE")
Drilling work had been scheduled to be concluded at SC72 within the second
Sub-Phase of the Service Contract on or before 14 August 2013, however the
requisite approvals from the DOE to conduct the proposed work programme
(comprising of a geotechnical survey and the drilling of two appraisal wells)
have to-date not been received. In addition the Company is currently awaiting
approval on the extension request.
Further updates will be made as appropriate."
On behalf of the Board of,
FEC Resources Inc.
This press release contains forward-looking statements and forward-looking
information (collectively, "forward-looking statements") within the meaning of
applicable Canadian and US securities legislation. All statements, other than
statements of historical fact, included herein are forward-looking statements.
Although the Company believes that such statements are reasonable, it can give
no assurance that such expectations will prove to be correct. Forward-looking
statements are typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. The Company cautions investors
that any forward-looking statements by the Company are not guarantees of
future results or performance, and that actual results may differ materially
from those in forward looking statements as a result of various factors,
including, but not limited to, variations in the nature, quality and quantity
of any natural resources that may be located, variations in the market price
of any natural resource products the Company may produce or plan to produce,
the Company's inability to obtain any necessary permits, consents or
authorizations required for its activities, the Company's inability to produce
natural resources from its properties successfully or profitably, to continue
its projected growth, to raise the necessary capital or to be fully able to
implement its business strategies, and other risks and uncertainties disclosed
in the Company's Annual Report on Form 20-F for the year ended December 31,
2011 and its most recent quarterly reports filed with the United States
Securities Exchange Commission (the "SEC"), and other information released by
the Company and filed with the appropriate regulatory agencies. All of the
Company's Canadian public disclosure filings may be accessed via www.sedar.com
and its United States public disclosure filings may be accessed via
www.sec.gov, and readers are urged to review these materials.
For more information please contact (403) 290-1676, e-mail
info@FECResources.com or visit the FEC Resources website at
SOURCE FEC Resources Inc.
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