Forum Energy Limited

PXP Energy has a 79.13% controlling interest in Forum Energy Limited with 72.33% held directly and 6.80% held indirectly through FEC Resources, Inc., a 78.39%-owned subsidiary. Forum Energy is a UK incorporated upstream oil and gas company with focus on the Philippines. Its principal asset is a 70% interest in Service Contract 72 Reed Bank offshore west Palawan, which contains the Sampaguita gas discovery. The Service Contract is currently in the second Sub-Phase of the Exploration Period which involves the drilling of two wells.