forum energy plc (FEP) Snapshot

Forum Energy PLC Presents at Citi's Global Energy and Utilities Conference, May-14-2013 08:45 AM. Venue: Hyatt Regency, One Avenue De Lafayette, Boston, Massachusetts, United States. Speakers: Cris Gaut, Chairman and CEO.

Forum Energy PLC announced audited consolidated earnings results for the year ended December 31, 2012. For the quarter, the company reported revenue of $4,522,000 against $12,734,000 a year ago. Loss from operations were $25,387,000 against income from operations of $3,834,000 a year ago. Loss before tax was $26,424,000 against income before tax of $3,420,000 a year ago. Loss and total comprehensive loss attributable to owners of the parent was $26,256,000 against profit attributable to owners of the parent of $3,457,000 a year ago. Basic and diluted loss per share was $73.9 against EPS of $10.4 a year ago. Net cash flows from operating activities were $1,947,000 against $9,750,000 a year ago. Purchase of property, plant and equipment was $4,329,000 against $6,934,000 a year ago. Purchase of intangible assets were $3,903,000 against $8,100,000 a year ago. Adjusted loss per year was $897,000 against $3,457,000 a year ago.

Forum Energy PLC confirmed that the Philippine Department of Energy has granted the company's request for an extension to the second sub-phase of Service Contract 72. The deadline for completion of the second sub-phase, comprising the drilling of two appraisal wells, has now been extended by two years to August 14, 2015.