Forum Mulls Philex's Offer to Buy Company

The Board of Forum has noted the announcement made this morning by Philex Petroleum Corporation of its intention to proceed with a mandatory offer for the Company at a price of 48p per share.

The Board, which is in discussions with its advisers, is considering its position and will advise Forum’s shareholders on what action to take in relation to the Offer in due course. Forum shareholders are urged to take no action at this stage.
In accordance with Rule 2.10 of the Takeover Code, as at July 2, 2008, Forum has 28,711,709 ordinary shares of 10p each in issue with International Securities Identification Number GB00B07C1T48.