FEC Provides Year End Update
Wednesday December 20, 9:42 pm ET
CALGARY, Alberta, Dec. 20 /PRNewswire-FirstCall/ -- FEC RESOURCES INC. (OTC Bulletin Board: FECOF - News; "FEC" or "the company") is pleased as the year draws to a close to provide an update on its three major assets.
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FORUM ENERGY PLC ("FEP")
On September 26, 2006 FEP announced a significant natural gas discovery. Results from the 3D seismic programme over GSEC101 and its interpretation performed by independent consultants, Count Geophysics Limited, confirmed a minimum of 3.4 TCF proven gas in place from sands tested in the 3 wells drilled to-date and the extension of the structure to a possible closure of 290 sq. km giving an upside reserves in these sands alone of 10 TCF. Additional untested sands, which are known to contain gas, could double this figure. The block also contains 8 additional leads which require further work that has the potential to add a further 20 TCF in aggregate. Forum is in the process of converting the licence to a service contract and further news is expected in the near-term. FEP also continues to develop its other Oil, Gas and Coal Mining Assets within the region.
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