CALGARY, Alberta, May 24 /PRNewswire-FirstCall/ -- FORUM ENERGY
CORPORATION (OTC Bulletin Board: FRUEF, Frankfurt/Munich: FE8) ("Forum" or
"The Corporation") announces the following board changes:
The following members have resigned from the Corporation's board of
directors and have assumed the same respective positions on the board of Forum
Energy Plc; David Robinson, Chief Executive Officer and David Thompson, Chief
Financial Officer. Barry Stansfield has also been appointed a Director of
Forum Energy Plc.
Following these resignations Mr. Larry Youell, previously Chairman of the
board, has been appointed President and Chief Executive Officer, and Barry
Stansfield, previously a director, has been appointed non-executive Chairman.
Mr. Riaz Sumar has been appointed Chief Financial Officer and director. In
addition Mr. Robert J. Lynch Jr and Dr. Walter W. Brown have joined the board
as non executive directors.
Mr Riaz Sumar is a resident of Calgary and has extensive financial
experience of public companies and was previously financial controller of
Forum Energy Corporation 1996 - 2003. Currently also CFO of TransAKT
Corporation and previously CFO of Toronto Stock Exchange (TSX) listed North
American Gem Inc. He received his Honors Bachelor of Science degree from the
University of British Columbia in 1990 and received the designation of
Certified General Accountant in 1997.
Dr. Walter W. Brown is a resident of the Philippines and has extensive
experience in both running public companies and the resources sector. He is
currently also the Chairman of the Board and President of TSX listed Philex
Gold Inc. as well as Chairman and Chief Executive Officer of Philippine Stock
Exchange listed Philex Mining Corporation.
Mr. Robert J. Lynch Jr. is a resident of New York, USA and has a wealth of
business experience spanning over 30 years, including both mining and natural
gas projects. Currently Mr Lynch is President of American & Foreign
Enterprises Inc. and President and Director of Lynch Farms Inc. and has
extensive experience of quoted companies. He was previously director of NASDAQ
listed Hadron, Inc. NYSE listed Dames & Moore and a Director of NASDAQ listed
Data Broadcasting Corporation.
"I am delighted to welcome Mr. Riaz Sumar, Dr. Walter Brown and Mr. Robert
Lynch to the board of directors. Each of these individuals bring to the board
a wealth of experience in the resources sector, and expertise in running
quoted companies" Commented Larry W. Youell, President & CEO "In addition I
would like to thank Mr. David Robinson Mr. David Thompson for their service to
the company and wish them every success serving as CEO and CFO respectively on
the board of Forum Energy PLC"
The Board of directors of the Corporation is therefore now as follows:
Barry Stansfield -- Chairman
Larry W. Youell -- Chief Executive Officer
Riaz Sumar -- Chief Financial Officer and Director
David Wilson -- Director
Dr. Walter W. Brown -- Director
Robert J. Lynch -- Director
On behalf of the Board of,
FORUM ENERGY CORPORATION
"Larry Youell"
President & 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
enquiries@forumenergy.com or visit the Forum Energy website at
http://www.forumenergy.com
Contact: Larry Youell of Forum Energy, +1-403-290-1676, or
enquiries@forumenergy.com.
SOURCE Forum Energy Corporation
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Related links:
http://www.forumenergy.com
CONTACT:
Larry Youell of Forum Energy,
+1-403-290-1676, or enquiries@forumenergy.com
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