9. Former name or former address, if changed since last report
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10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON
410,736,330
11. Indicate the item numbers reported herein
ITEM NO. 9
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
PetroEnergy Resources CorporationPERC
PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and Sections 4.1 and 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Service Contract No. 75 – Northwest Palawan
Background/Description of the Disclosure
PetroEnergy Resources Corporation (PERC) confirms that the Philippine Department of Energy (DOE) has granted a Force Majeure on Service Contract No. 75 (SC75) as this service contract area falls adjacent to SC58 and SC75, both of which remain under Force Majeure.
Under the terms of the force majeure, all exploration work at SC75 shall be immediately suspended effective from the end of its first sub-phase (SP-l) on 27 December 2015 until the date the DOE notifies PERC to resume petroleum-related activities. As a result, the second sub-phase (SP-2) of SC75 has been put on hold until further notice.
The terms of SP-2 and all subsequent sub-phases will be extended by the term of the force majeure. Further updates on SC75 will be made as and when appropriate.
PERC has a 15.00% participating interest in SC 75.