FEC Resources Inc. (FECOF)

[styl]

FORUM ENERGY PLC

("Forum Energy" or the "Company")

COMMENCEMENT OF PRODUCTION FROM GALOC PHASE II

The Directors of Forum Energy note today's announcement released by Otto Energy Limited ("Otto") (ASX:OEL), the operator of the Galoc Phase II joint venture offshore the Philippines in which Forum Energy has a 2.27% participating interest.

The Otto announcement confirms that Galoc-5H and 6H wells have been successfully commissioned and that the four wells in the field are currently producing 14,500 barrels of oil per day ("bopd") (329 bopd net to Forum Energy).

Following the testing and optimisation period, which is likely to be completed in the middle of the first quarter of 2014, Forum Energy understands that production is then initially expected to be optimised at a lower level of up to 12,000 bopd 273 bopd net to Forum Energyurl][tag]insert-text-here[/tag] However, there is no guarantee that this optimised level of production will be achieved. The Company does not expect to be able to announce the ongoing level of production from the four wells until the optimisation period has completed.

Stylgian: This is what I get from this article/statement

$27,000 a day for forum.......a quarter of a mil every 10 days
a million every 40 days
TEN million in 400 days <1 year and 5 weeks>

so in a little over a year its fair to say fecof's share of that flow....revenue flow.......will be 2.5 million worth.....i believe 55 to 70% will be profit.........1.5 mil in profits.

I can estimate that from an e-mail i got from Nido where they explain their expectations as :
"Nido could reasonably expect to receive revenue of around US$70 – 80
million and around A$45 million in free cash flow over 2014 leaving aside the repayment of debt"
and this could be found in this link:http://www.nido.com.au//IRM/Company/ShowPage.aspx/PDFs/2022-33725361/CompanyInterviewRelease