- CEO
- Daniel Stephen Carlos
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 550 Burrard Street Vancouver BC Canada V6C 2B5
- IPO Date
- Nov 4, 1999
- Business
- FEC Resources Inc. is a Canada-based investment holding company focused on the exploration and development of oil and gas properties, primarily in the Philippines. Founded in 1982 and headquartered in Vancouver, British Columbia, the company holds a 6.80% equity stake in UK-based Forum Energy Limited (Forum), which owns a 70% interest in Service Contract 72 (SC 72) offshore northwest of Palawan, encompassing the 10,360 square kilometer GSEC101 license area with the Sampaguita gas discovery estimated at 3.4 trillion cubic feet of gas in place and potential upside to 20 trillion cubic feet; FEC operates as a subsidiary of PXP Energy Corporation, which controls 54.99% of its shares. Its core investment activities target upstream oil and natural gas opportunities through Forum's Philippine-focused assets, with historical involvement in mineral-related ventures including coal and gold exploration. In July 2025, FEC completed a significant debt restructuring by issuing 131,563,725 common shares at $0.0088 per share to PXP Energy Corporation, settling $1,011,155.88 in principal plus $146,604.90 in accrued interest for a total of $1,157,760.78; earlier extensions on PXP loans in 2024 and 2025, along with pro-rata advances totaling approximately $627,020 to Forum for pre-drilling costs and a $3 million financing round in 2023, reflect ongoing efforts to preserve liquidity and support SC 72 exploration amid regulatory filings like the May 2025 British Columbia Securities Commission cease trade order, now resolved with recent financial reporting.