www.fecresources.net
FEC Resources Inc
Major Shareholders
PXP Energy Corporation 225,000,000
Asian Coast International 67,740,000
CDS&Co 49,975,191
CEDE & Co 38,775,155
O/S: 409,143,765
FLOAT: 27,644,514
FEC's interest in Forum is 6.80%
Forum Energy’s holdings
· 70% interest in Service Contract 72 (SC 72), an offshore license which contains the Sampaguita Gas Field as well as several additional oil and gas leads;
· 66.7% interest in SC 40 (Cebu), a service contract which contains the onshore Libertad Gas Field and Maya discovery and several other prospects
· 100% interest in Forum Energy Philippines Corporation, a company with varying interests in nine (9) offshore fields west of the Philippines including a 2.27% interest in the producing Galoc Field.
Forum’s principal asset is a 70% interest in the SC 72/GSEC101 offshore license located to the north west of the Philippine island of Palawan. The area is some 10,360 Km2 and contains the Sampaguita gas discovery which has expected gas in place of 3.4TCF and potential upside to 20 TCF (“Trillion Cubic Feet”). Potential unrisked reserve estimates for the seven prospects and three discoveries within the licenses initially acquired by Forum total some 900 mmbbls of oil equivalent or 5.5 TCF.
Links
http://www.fecresources.com/
http://www.pxpenergy.com.ph/
http://www.otcmarkets.com/stock/FECOF/company-info


FECOF VALUATION IDEA:
--Page 41 of the 2017 PXP audited financial statements shows that 87% of the PXP net assets (not including FECOF) are attributable to Forum Energy Limited (FEL).
--87% * (PXP Share Price * 1,700,000,000 PXP shares outstanding) = the Philippine Peso public market valuation of 72.18% of FEL.
--FECOF owns 6.8% of FEL.
www.fecresources.net