PSE Circular for Brokers No. 1730-98

July 24, 1998 PSE CIRCULAR FOR BROKERS NO. 1730-98 SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. July 15, 1998 Date of Report (Date of earliest event reported) 2. SEC Identification Number 12942 3. BIR Tax Identification No. 470-000-104-320 4. ACOJE HOLDINGS, INC. Exact name of registrant as specified in its charter 5. PHILIPPINES Province, country or other jurisdiction of incorporation 6. (SEC Use Only) Industry Classification Code: 7. 4/F VERNIDA I. 120 AMORSOLO ST., LEGASPI _____________ VILLAGE, MAKATI CITY Postal Code Address of principal office 8. 815-4677 Registrant's telephone number, including area code 9. NA 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 of Common Stock Outstanding and Amount of Debt Outstanding COMMON 510,063,298 (as of 6-30-98) 11. Indicate the item numbers reported herein: Item 2 Item 1 . Changes in Control of Registrant not applicable Item 2 . Acquisition or Disposition of Assets (1) There is a sale of the following equipment to Accurig Enterprises owned by Mr. Alvin F. Goquiolay, the son of Mr. Gonzalo Goquiolay one of the director, in the amount of P1,925,700.00, description of drilling rigs are as follows: (1 unit Drilling Rig No . 2 ( Doodle Bug ). about 915 m. (3,000 ft) drilling capacity, 17.0 m. (56 ft.), angle bar, steel framed, lattice boom, trailer-mounted, 8 wheeler, powered by: cdt Diesel Engine International Harvester, Type 6463 DD, 4-cylinder, straight arrangement, radiator cooled, battery-started, rig is provided with: Mud Pump Gardner Denver, U.S.A., Model FDFXXF, Serial No. 133013330 RPM shaft speed, 70 RPM pump feed, 680 kgs. pressure, about 127 mm. x 203 mm. bore and stroke, driven thru V-belt and pulleys by: Diesel Engine Isuzu, Model DH-100, Serial No. 871124, 195HP, 6-cylinder, straight arrangement, radiator-cooled, battery-started, rig is equipped with rotary table, crown pulley, traveling block, and other pertinent accessories. 1 unit Drilling Rig No . 3 ( Doodle Bug ). about 915 m. (3,000 ft.) drilling capacity, 17.0 m. (56 ft.), angle bar, steel framed, lattice boom, railer-mounted, 8 wheeler, powered by: Diesel Engine Isuzu, Model DH-100, Serial No. 349801, 195 HP, 6-cylinder, straight arrangement, radiator-cooled, battery-started, rig is provided with: Mud Pump Gardner Denver, U.S.A., Model FDFXXI, Serial No. 127112.297 RPM shaft speed, 70 RPM pump feed, 28 Kgs. pressure, about 127 mm. x 203 mm. bore and stroke, driven thru differential, chains and sprockets by: Diesel Engine Mitsubishi, Model 6D10-0A, Serial No. 21332, 145 PS, 3200 RPM, 5974 cc, 6-cylinder, straight arrangement, radiator-cooled, battery-started, rig is equipped with rotary table, crown pulley, traveling block, and other pertinent accessories. 1 unit Drilling Rig No . 4 ( Falling Rig ). George E. Failing Co. Enid Oklahoma USA model No. 1500 S Shop No. 999-541 about 183 m (600 ft) drilling capacity 9.15 m. (30 ft.) tubular framed, lattice boom, 1600 RPM motor, 110/164/195 rotation RPM 109/182/325 FPM drum and sand reel speeds, trailer-mounted, 8 wheeler powered by: Diesel Engine Isuzu Japan, model DA-120, 120 HP, 6 cylinder, straight arrangement, radiator-cooled, battery started, rig is provided with: Mud Pump Gardner Denver USA Model FDFXG, serial no. 128934 piston type 29.1 HP input, 75/534 RPM, 408 Kgs. max working pressure, 114 mm x 152 mm bore and stroke, driven thru propeller shaft by the drive engine, rig is equipped with Kelly, drill pipes, drill bits rotary table and other pertinent accessories. 1 unit Drilling Rig No . 5 ( Tone Rig ) about 244 m (800 ft.) drilling capacity 11.0 m (35 ft.) tubular steel framed, lattice boom, powered by: Diesel Engine Mitsui Deutz Type F 41912, 392019204043760, 49 PS, 1800 RPM 4 cylinder, straight arrangement, air-cooled rig is provided with: Mud pump Gaso pump and Burner Mfg. Co. Tulsa, Oklahoma USA, piston type 114 mm bore and stroke driven thru V-belt and pulleys by: Diesel engine Isuzu Japan model DA 120, serial no. 4127521, 6 cylinder, straight arrangement, 600 mm x 300 mm radiator cooled, battery-started, rig is equipped with drill pipes, crown pulley, Kelley, travelling block, bits hub, and other pertinent accessories. The selling price of these equipment is base on a fair market value as appraised by Asian Appraisal with a 30% discount and an additional of 10% for Value-Added Tax. (2) There is a sale of Mazda pick-up to Mr. Vicente Montellano in the amount of P70,000.00, the basis of selling price is the book value of Mazda. MAKE MAZDA MODEL B2200 TYPE OF BODY DOUBLE CAB COLOR GREEN PLATE NO. PMW 511 SERIAL/CHASSIS NO. UFY021-MF000522 MOTOR NO. 235656 Item 3 . Changes in Registrant's Certifying Accountant not applicable Item 4 . Resignation, Removal or Election of Registrant's Directors or Officers not applicable Item 5 . Legal Proceedings not applicable Item 6 . Changes in Securities not applicable Item 7 . Defaults Upon Senior Securities not applicable Item 8 . Change in Fiscal Year not applicable Item 9 . Other Events not applicable. Item 10 . Financial Statements and Exhibits SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. (SGD.) RENITA S. TY Registrant