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CALGARY, Alberta, Nov. 20 /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 that Forum Energy Plc. (FEP) has announced the
appointment of Manila based Dr. Walter Brown as their new Chief Executive
Officer. (See below). We believe this to be a very positive step forward and
will both strengthen the management structure of FEP and ultimately their
operations in the Philippines. Dr. Brown is also a non-executive director of
FEC who presently hold 28.42% of the shares of FEP.
"14 November 2008
Forum Energy Plc
("Forum Energy" or the "Company")
Appointment of Chief Executive Officer
Forum Energy is delighted to announce the appointment of Dr. Walter
William Brown as Chief Executive Officer of the Company with immediate effect.
Dr. Brown takes over from Alan Henderson, who has been acting Chief Executive
Officer since June 2008 and who will continue in his role as Chairman of the
Company.
Dr. Brown has extensive experience in both the mining and oil exploration
and production industries in the Philippines. He has several academic
qualifications including two undergraduate degrees: B.S. Physical Science
(1959), B.S. Geology (1960), from the University of the Philippines, Manila;
and post graduate degrees from Stanford University: M.S. Economic Geology
(1963), Ph. D in Geology, Major in Geochemistry (1965). He has been associated
with a number of companies in this industry including Dominion Asia Equities,
Inc. (Belle Corp), Palawan Oil & Gas Exploration (Vantage Equities), 7 Seas
Oil Company, Inc. (Abacus), Universal Petroleum (Universal Rightfield) and was
previously Technical Director of Dragon Oil Plc, listed on the London Stock
Exchange.
Since January 2004, Dr. Brown has been Chairman and Chief Executive
Officer of Philex Mining Corporation, a company that, through its subsidiaries
Philex Petroleum Corporation and FEC Resources, Inc, has an interest in
18,483,511 ordinary shares of Forum Energy, representing 61.44% of the issued
share capital of the Company."
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"
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
SOURCE FEC Resources Inc.
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