Current Report Under Section 11 of The Revised Securities Act (RSA) and RSA RULE 11(a)-1-1(b)(3) Thereunder

June 3, 1998 PSE CIRCULAR FOR BROKERS NO. 1235-98 SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1-1(b)(3) THEREUNDER 1. 02 June 1998 Date of Report (Date of earliest event reported) 2. SEC Identification No.: 38683 3. BIR Tax Identification No.: 041-000-315-612 4. THE PHILODRILL CORPORATION Exact name of registrant as specified in its charter 5. METRO MANILA, PHILIPPINES Province, country or other jurisdiction of incorporation 6. ______ (SEC Use Only) Industry Classification Code: 7. QUAD ALPHA CENTRUM, 125 PIONEER, MANDALUYONG CITY 1550 Address of principal office Postal Code 8. (632) 631-1801 to 05; 631-8151 to 52 Registrants telephone number, including area code 9. N .A. Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of each Class Number of Shares Outstanding (@P1.00 Par Value and Amount of Debt Outstanding Class "A" 918,574,128 Class "B" 616,376,314 Total 1,534,950,442 Total Liabilities P401,320,856 11. Indicate the item numbers reported herein: ITEM 4 ITEM 4 ELECTION OF DIRECTORS AND OFFICERS Election of Directors At the Annual Meeting of the Stockholders of THE PHILODRILL CORPORATION (the "Company") held on 27 May 1998, 3:00 p.m. at the Antipolo Room, Valle Verde Country Club, Pasig City, upon nominations duly made and seconded, the following persons were elected directors of the Company to serve as such for one (1) year and until their successors shall have been elected at the next annual meeting of the stockholders in May 1999: ALFREDO C. RAMOS HENRY A. BRIMO PRESENTACION S. RAMOS GERARD H. BRIMO AUGUSTO B. SUNICO NICASIO I. ALCANTARA MAXIMO G. LICAUCO III HONORIO A. POBLADOR III TEODORO L. LOCSIN, JR. Election of Officers At the Organizational Meeting of the Board of Directors of the Company held on 27 May 1998 immediately after the Annual Meeting of Stockholders, upon nominations duly made and seconded, the following persons were elected to the positions indicated opposite their respective names below: ALFREDO C. RAMOS Chairman of the Board and President HENRY A. BRIMO Vice Chairman AUGUSTO B. SUNICO Executive Vice President and Treasurer FRANCISCO A. NAVARRO Vice President, Exploration REYNALDO E. NAZAREA Vice President, Finance and Administration ALESSANDRO O. SALES Assistant Vice President, Exploration ADRIAN S. ARIAS Corporate Secretary SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly accomplished this report and signed on its behalf by the undersigned hereunto duly authorized. THE PHILODRILL CORPORATION By: (SGD.) ADRIAN S. ARIAS Corporate Secretary