Petrofields Corporation

April 22, 1998 PSE CIRCULAR FOR BROKERS NO. 767-98 SUBJECT : Petrofields Corporation Further to Company Notice No. 68 dated January 16, 1998, Petrofields Corporation ("PET") furnished the Exchange on April 17, 1998 a copy of SEC Form 34-A (Proxy Statement) in connection with its Annual Stockholders' Meeting which will be held on Thursday, April 23, 1998 at 3:00 p.m., at the Skytop of Hotel Intercontinental Manila, Makati City. The agenda for the meeting shall be as follows: 1. Proof of Notice of the meeting 2. Proof of the presence of a quorum 3. Reading and approval of the Minutes of the previous stockholders' meeting 4. Approval of President/Chairman's Statement and Annual Report for the year 1997 cdlex 5. Ratification of all acts and resolutions of the Board of Directors and Management during the year 1997 6. Election of directors for the ensuing year 7. Appointment of Independent Auditors 8. Amendment of the Articles of Incorporation and By-Laws of the Corporation for the purpose of reclassification of shares of the Corporation into preferred shares and common shares at a ratio to be determined by Board of Directors which ratio shall take into consideration (a) the value of the Spin-Off Assets vis-a-vis the remaining assets of the Corporation and (b) the fair market value of shares of the Corporation as traded in the PSE 9. Ratification/Approval of the Board resolution approving the exchange for common shares of PetroTech certain assets of Petrofields Corporation valued not lower than book values, consisting of oil interests in the Philippines and in Gabonese oil concessions and club shares and such other assets as may be necessary to gain at least fifty-one percent (51%) of the total voting power of all classes of stocks entitled to vote for Petro Tech 10. Other Business. MISSING PAGE