CALGARY, Alberta, March 19 /PRNewswire-FirstCall/ -- The following was
released on behalf of the Board of FEC Resources Inc., by Larry W. Youell,
President and CEO: FEC Resources Inc. ("FEC" or "the company") (OTC
Bulletin Board: FECOF; FRANKFURT and MUNICH: FE8) is pleased to announce
that Forum Energy Plc (of which FEC is the largest shareholder) last Friday
announced the commencement of the workover of the Forum-2X well at Barangay
Maya, Cebu, Philippines, following an extensive refurbishment of the
Company's Hycalog Drilling Rig.
Forum-2X was drilled in 2003 to a total depth of 1,732 feet. The well
encountered multiple hydrocarbon bearing zones, including a 34-foot net
sandstone layer from the gross interval of 1,570-1,610 feet. A flow rate of
217,000 standard cubic feet of gas per day was achieved at that time.
FEC Resources Inc, holds a diverse portfolio of Oil, Gas, Coal, Gold
and Iron Ore assets located in the Philippines through its shareholdings in
Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining
Corporation. For further information email info@fecresources.com
On behalf of the Board of,
FEC Resources Inc.
"Larry W. Youell"
Larry W. Youell
President and CEO
This release contains "forward looking statements" as per Section 21E
of the US Securities and Exchange Act of 1934, as amended. Although the
Company believes that the expectations reflected in such forward looking
statements are reasonable, it can give no assurance that such expectations
will prove to have been correct. Management is currently reviewing many
options and there is no assurance that they will not make decisions other
than those now contemplated. The Company is subject to political risks and
operational risks identified in documents filed with the Securities and
Exchange Commission, including changing and depressed oil prices,
unsuccessful drilling results, change of government and political unrest in
its main area of operations.
For more information please contact Larry Youell at (403) 290-1676
e-mail info@FECResources.com or visit the FEC Resources website at
http://www.FECResources.com.
SOURCE FEC Resources Inc.
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Related links:
http://www.fecresources.com/
CONTACT:
Larry Youell, +1-403-290-1676, or
info@FECResources.com
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