Philex raises stake in UK-based oil and gas firm
February 25th, 2010
Filed under: Operator - Philex
abs-cbnNEWS.com
MANILA, Philippines - Philex Mining Corp.’s wholly-owned subsidiary, Philex Petroleum Corp. (PPC), has bought an additional 2.4% stake in Forum Energy Plc (FEP), raising the Philex Group’s total interest to 65%.
FEP is a UK-based oil and gas exploration company which recently announced the approval of the conversion of its Geophysical Survey and Exploration Contract (GSEC) 101 to Service Contract (SC) 72 by the Department of Energy.
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