3D Seismic Survey Completed Over Sampaguita Gas Discovery

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3D Seismic Survey Completed Over Sampaguita Gas Discovery
    CALGARY, Alberta, Aug. 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. (OTC Bulletin Board: FECOF; Frankfurt/Munich: FE8)
reports that Forum Energy Plc ("Forum"), the UK energy group with gas, oil and
coal assets in the Philippines, of which FEC Resources is a major shareholder,
has announced (Through a wholly-owned subsidiary of Forum acquired from
Sterling Energy Plc) the completion of a key 3D seismic survey across the
major Sampaguita gas discovery offshore the Philippines.
    Analysis of the results will provide more information on the commercial
potential of this highly promising discovery, and help identify the best
location for a possible appraisal well to be drilled next year.
    Sampaguita lies 250 kilometres southwest of the world-class Malampaya gas
field, where operator Shell has installed extensive production facilities and
pipeline infrastructure that supplies gas to three Philippine power plants.
    Gas has already been tested from Sampaguita during the 1970s and 1980s. A
recent independent assessment by petroleum consultants PGS Reservoir Ltd.,
estimated that the field could contain potential recoverable gas reserves of
up to 2.3 trillion cubic feet.
    The survey was carried out over an area of 248 square kilometres by DGC
Asia Pacific Ltd, part of Veritas, using the M/V Pacific Sword. Veritas will
also process the results.
    It has been completed just two weeks after Forum arrived on AIM, following
a successful 11 million pounds Sterling fund-raising at 1.12 pounds per share.
Shares in the company are currently trading at 1.18 pounds per share.

    To learn more about FEC Resources, Inc visit http://www.FECResources.com. To
learn more about the Oil, Gas and Coal assets of Forum Energy Plc visit their
website at http://www.forumenergyPLC.com

     On behalf of the Board of,
     FEC Resources, Inc.
     "Larry W. 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
info@FECResources.com or visit the FEC Resources website at
http://www.FECResources.com

     FEC RESOURCES INC. HEADQUARTERS
     700 - 2nd street SW
     suite 1400
     Calgary, Alberta
     Canada T2P 4V5
     E-mail: info@FECResources.com
     Website: http://www.FECResources.com
     Tel: 1-403-290-1676
     Fax: 1-403-398-1382
SOURCE FEC Resources, Inc.
http://www.fecresources.com
CONTACT:
Larry Youell of FEC Resources, Inc.,
+1-403-290-1676, or info@FECResources.com