Philippine Stock Exchange, Inc.
PSE Circular for Brokers No. 080-98 • Philippine Stock Exchange • Circulars for Brokers • Feb 6, 1998
Full text
February 6, 1998 PSE CIRCULAR FOR BROKERS NO. 080-98 February 5, 1998 PHILIPPINE STOCK EXCHANGE, INC. Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City Attention : Atty . Ruben L . Almadro VP Compliance & Surveillance Group Gentlemen : Your letter of today asking us for information that may be relevant to what you say is a 39.47% drop in market price of Seafront shares from P0.38 to P0.23 per share places us in a quandary as we do not monitor the market on a daily basis and are even oblivious to its daily fluctuations. We can however hazard a guess for such behavior. It may have something to do with the negative results of drilling for oil offshore southwest Palawan by Shell. Shell, the Operator, for GSEC 91 where Seafront owns a participating interest of 2.94% announced this morning that the well is being prepared for plugging and abandonment. The other Filipino partners of Shell in this drilling venture are Trans-Asia, Oriental, Philodrill, Basic Petroleum, Phoenix Energy and Vulcan. We hope we have been of help. Very truly yours, (SGD.) BENEDICTO L. TABIN Vice President/Treasurer
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.