The Request For Redistribution Of Participating Interests Among The Continuing Partners, And The Assignment Of Philodrill As The Operator, Is Hereby Approved. “

Subject of the Disclosure
Approval of the redistribution of participating interests among the continuing partners, and the assignment of Philodrill as the operator of SC 53 (Onshore Mindoro)
Background/Description of the Disclosure
In a letter dated January 11, 2021, which the Company received on January 13, 2021, the DOE advised that: “After thorough review of the technical, legal, and financial qualifications of the continuing partners, the request for redistribution of participating interests among the continuing partners, and the assignment of Philodrill as the operator, is hereby APPROVED. “ As a result, thereof, the participating interests of the SC 53 Continuing Parties are, 81.48% for Philodrill and 18.52% for Anglo Philippine Holdings Corp. Read more from PSE: https://edge.pse.com.ph/openDiscViewer.do?edge_no=2aa223d97f3219455d542af6f1e997b9

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