Forum Begins Testing Forum-2X Well in Cebu

Forum has commenced the open hole testing program at exploration well Forum-2X at Maya, Cebu, Philippines. Ranilo Abando, Director of the Energy Resource Development Bureau at the Republic of the Philippines Department of Energy said: "Forum Exploration Incorporated has recommenced their drilling operations at Forum-2X well early this week. The operator has cemented the 7 inches casing shoe yesterday and is currently waiting for the cement to cure prior to drilling out the same. Forum is planning to conduct an open hole testing at the four (4) sections between depth intervals 1,206ft to 1,610 feet. Petrophysical data gathered during the logging operations indicate some sections with possible hydrocarbon accumulations, which Forum is interested to test. Meanwhile the operator is waiting for the arrival of materials needed in their planned open hole testing operations at the Forum-2X well."

Larry Youell, President & CEO of Forum said: "The logging of Forum-2X indicated a possible total of some 80 ft. of potential hydrocarbon pay zones in sandstones and limestone layers in four separate intervals below the 7inch casing, being between 1,213 ft. and 1,610 ft.

"The proposed open hole testing about to commence will provide the Company with valuable data on the drilled prospect and the potential flow rates of oil and gas in the reservoirs as identified from the well logs.

"The open hole testing program will be conducted over the next 7 days of operations at exploration well Forum 2X.

"The additional potential hydrocarbon bearing zones identified and behind the 7inch casing from 714 ft. to 1,213 ft. are intended to be perforated and tested at a later date."