Date: Tuesday 24 Apr 2012
UK oil and gas firm Forum Energy has confirmed its natural gas discovery at Recto Bank in the disputed South China Sea contains more reserves than initially thought. In an announcement to the Philippines Stock Exchange earlier, Philex Petroleum Corp said Forum had a report that "is expected to show an improvement in the resources previously known". Forum said the report would be shown to the board later this week. The ownership of the territory is currently disputed by China and the Philippines.
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