Forum Energy reports 80% jump in nine-month revenue

Forum Energy has confirmed a report published by its 60.5%-owner, Philex Petroleum, that revenue for the nine months to the end of September rose 79%.

The UK incorporated oil and gas exploration and production company, which is focused on the Philippines, said unaudited revenues for the period climbed from £3.4m to $6.1m, largely thanks to the start of production at phase two of the Galoc oil field.

The share price had climbed 10.34% to 32p by 11am.