FEC Resources Reports Media Reports on Lifting of Ban on Oil and Gas Exploration in the West Philippine Sea

Vancouver, British Columbia--(Newsfile Corp. - October 16, 2020) - FEC RESOURCES INC. (OTC Pink: FECOF) ("FEC" or the "Company") wishes to advise the market that it has become aware of media reports in the Philippines, which if correct, will potentially impact the Company's investment in Forum Energy Limited and its main asset Service Contract 72.

Please refer to the link below which states that "Energy Secretary Alfonso Cusi said a "resume-to-work" notice has already been issued to contractors of Service Contract 59 in West Balabac, Palawan, Service Contract 72 which covers Recto Bank, also known as Reed Bank, and Service Contract 75 in Northwest Palawan. These are operated by the Philippine National Oil Company - Exploration Corporation, Forum Ltd., and PXP Energy Corp., respectively."

https://www.cnn.ph/news/2020/10/15/duterte-lifts-moratorium-petroleum-exploration.html

On behalf of the Board of,

FEC Resources Inc.

Paul Wallace

Director

For more information please e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66177