PSE Circular for Brokers No. 2006-99
PSE Circular for Brokers No. 2006-99 • Philippine Stock Exchange • Circulars for Brokers • Aug 12, 1999
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August 12, 1999 PSE CIRCULAR FOR BROKERS NO. 2006-99 August 11, 1999 The Securities and Exchange Commission SEC Building, E. delos Santos Avenue Mandaluyong City Attention: Ms . Linda A . Daoang Director MMOD Philippine Stock Exchange 4th Floor, Tektite Tower 1 Exchange Road, Ortigas Center Pasig City Attention: Ms . Grace De Guia Assistant Manager Disclosure Department Gentlemen : In compliance with the Securities and Exchange Commission's rules and regulations on disclosure, Petrofields Corporation hereby informs the Commission that its wholly owned subsidiary, PetroEnergy Resources Corporation (PERC) has executed a Memorandum of Agreement over a portion of Geophysical Survey and Exploration Contract (GSEC) 73 in Cotabato with PNOC-EC Exploration Corporation. Under said Agreement, an area, called Sole Area, covering the Sultan-sa-Barongis prospect was carved out from the GSEC area. PNOC-EC will drill 2 wells for its own account in the Sole Area and will hold PERC free from any liability arising from activities in the area. If hydrocarbons are produced in the Sole Area, PERC will not share in the revenues. PNOC-EC and PERC remain co-contractors in the GSEC area outside of the Sole Area. Very truly yours, (SGD.) MILAGROS V. REYES
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