CALGARY, Alberta, July 7 /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. (OTC Bulletin Board: FECOF, Frankfurt/Munich: FE8)
("FEC") wishes to advise shareholders that it has noted the announcement
made by Philex Petroleum on July 2 with respect to its intention to proceed
with a mandatory offer for Forum Energy Plc shares at a price of 48 pence
per share.
The Board of FEC has been in discussions with its advisers and is
monitoring the situation. Shareholders will be provided with an update in
the coming days with respect to the offer and asks shareholders for their
patience while the Board reviews its options.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, and
gold assets located in the Philippines through its shareholdings in Forum
Energy Plc and Lascogon 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 of FEC Resources Inc.,
+1-403-290-1676, info@FECResources.com
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