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Forte Energy Limited (ASX:FEL)

ALERT: Price-sensitive ASX Announcement for FEL
Current share price for FEL : $0.006 -0.001 (-14.29%)+
Announcement
Release
30 Apr 2026 10:04AM
Price at Release
$0.007
Full Release
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Summary
Forte Energy Limited has successfully expanded its exploration portfolio in Alaska with the acquisition of Peritas LLC, securing substantial acreage in the National Petroleum Reserve. The company also won additional leases in the NPR-A and received significant lease fee reductions. Technical evaluations are underway to assess resource potential, and the corporate structure has been strengthened with new share issuances and a strategic repositioning under its new name, Forte Energy Limited. Financially, the company maintains a robust cash position with strategic investments aimed at sustainable growth.
Key Points
  • Forte Energy Limited announced the completion of the acquisition of Peritas LLC, securing 143,368 acres across 13 oil and gas leases in the National Petroleum Reserve of Alaska.
  • The company was the highest bidder on two additional NPR-A leases covering approximately 13,220 acres.
  • The Bureau of Land Management confirmed that 2026 lease fees were suspended, resulting in a reduction of approximately US$430,000 in lease fees for Forte.
  • The company commenced technical evaluation of the Harrier Prospect and initiated a review of the Umiat Oil Field.
  • Shareholders approved the change of the company name to Forte Energy Limited and the ASX code to FEL.
  • As of 31 March 2026, Forte Energy had a cash balance of approximately $1.8 million and no debt.
  • The company issued 13 million fully paid ordinary shares and approved the issuance of Performance Rights to directors and consultants.
  • Forte Energy remains committed to commercialisation of the WA-424-P exploration permit in the Browse Basin, offshore Western Australia.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.