FEC Resources Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023

FEC Resources Inc. is a Canada-based holding company. The Company has a 6.8% interest in Forum Energy Limited (FEL). FEL’s principal asset is a 70% interest in the GSEC101 offshore license located to the north west of the Philippine island of Palawan. The area is approximately 10,360 square kilometers and contains the Sampaguita gas discovery, which has expected gas in place of 3.4 Trillion Cubic Feet (TCF) and potential upside to 20 TCF. The Company also has an investment in a gold exploration project in the Philippines.