FEC RESOURCES INC. (OTC PINK: FECOF) ("FEC") would like to draw attention to the recent reports in the media regarding the ruling of the Permanent Court of Arbitration in the Hague with respect to claims of the Peoples Republic of China("China") over resources in the South China Sea. While the ruling is clearly not in support of China's claims, the findings have been rejected by China. It is uncertain whether this ruling will resolve the dispute between the parties.
FEC Resources' major asset is an 18.42% shareholding in Forum Energy Limited whose major asset is a 70% interest in a potentially valuable gas field which is located in an area in the South China Sea which is subject to the dispute between China and the Republic of the Philippines. Drilling of the South China Sea prospect held by Forum Energy Limited is currently under Force Majeure as a result of the dispute.
On behalf of the Board of,
FEC Resources, Inc.
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any natural resources that may be located, variations in the market price of any natural resource products the Company may produce or plan to produce, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce natural resources from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company’s Annual Report on Form 20-F for the year ended December 31, 2011 and its most recent quarterly reports filed with the United States Securities Exchange Commission (the “SEC”), and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and its United States public disclosure filings may be accessed via www.sec.gov, and readers are urged to review these materials.
For more information please contact (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com