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ACE Enexor, Inc.

Company Description
ACE Enexor, Inc. (ACEX), formerly PHINMA Petroleum and Geothermal, Inc., was organized on September 28, 1994 as a wholly-owned subsidiary of PHINMA Energy Corporation (PHEN). In April 2019, PHINMA, Inc., its ultimate parent company, received the approval from the Philippine Competition Commission for the sale of its and PHINMA Corporation's combined 51.48% stake in PHEN to AC Energy, Inc.

On November 11, 2019, the Securities and Exchange Commission approved the Company's change in name to the present one to reflect the change in the ownership.

ACEX's primary business is the exploration and production of crude oil and natural gas through interests in petroleum contracts and through holdings in resource development companies with interests in petroleum contracts. The Company began its foray into the exploration and development of geothermal resources in 2017.

As of February 2020, ACEX has interests in five oil and gas service contracts (SC), namely: 33.34% in SC51 in Eastern Visayas; 50% in SC69 in Camotes Sea, also in Eastern Visayas; 75% (upon approval by the DOE of the Deed of Assignment) in SC 55 in offshore West Palawan through its subsidiary Palawan 55; 7.78% in SC 6 Block A in Northwest Palawan; and 2.475% in SC 6 Block B also in Northwest Palawan.

The Company holds 75% interest in Palawan55 Exploration & Production Corporation (Palawan55), an upstream oil and gas company which holds the 6.82% participating interest in SC 55.

Source: SEC Form 17-A (2020)
Security Information
Sector Mining and Oil
Subsector Oil
Corporate Life 50
Incorporation Date Sep 28, 1994
Number of Directors 11
Stockholders' Meeting as per By-Laws Every last Monday of January of each year
Fiscal Year 12/31 (Month/Day)
External Auditor SyCip, Gorres, Velayo & Company
Transfer Agent Stock Transfer Services Incorporated
Contact Information
Business Address 35th Floor, Ayala Triangle Gardens Tower 2, Paseo De Roxas corner Makati Avenue, Makati City 1226
E-mail Address [email protected]
Telephone Number 7730-6300
Fax Number 7751-6511