FEC Resources Inc. is an independent company listed on the NASD OTC Bulletin Board and the Frankfurt and Munich Stock Exchanges.

On 18th May 2005 the company, through resolutions passed at the EGM, completed the necessary shareholder approvals for the transfer of its 66.67% interest in Forum Exploration Inc (“FEI”) to a new UK company – Forum Energy Plc. In conjunction with this transfer the significant GSEC101 Gas asset has also been transferred to Forum Energy Plc through an agreement with Sterling Energy Plc, an AIM listed UK company with a market capitalisation of over US$400m

Following the asset transfers and a US$6.2m pre-IPO financing and US$19.35m IPO financing, FECR’s stake in the new company is approximately 32.04% with Sterling Energy holding approximately 14%. FECR is the single largest shareholder in FEP.

FEP is traded on the AIM market of the London Stock Exchange under the symbol “FEP”

The new structure of the company will enable accelerated development of the substantial Oil, and Gas assets held through the Forum Energy Plc’s collective licenses, and will in turn deliver value to FEC Resources Inc. shareholders through the company’s significant stake in the new group.

Whilst maintaining this interest in oil, gas and coal in the Philippines through the shareholding in Forum Energy Plc, the company has uniquely positioned itself to pursue additional Philippine assets in the resources sector, thus taking advantage of the experience now available in these fields which exists at Board level, along with management and consultants with regional expertise, and most importantly the prospects of a country rich in undeveloped minerals.

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