SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Sep 16, 2024

2. SEC Identification Number

A200207283

3. BIR Tax Identification No.

006-036-274

4. Exact name of issuer as specified in its charter

P-H-O-E-N-I-X PETROLEUM PHILIPPINES, INC.

5. Province, country or other jurisdiction of incorporation

Davao City, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

STELLA HIZON REYES ROAD, BO. PAMPANGA, LANANG, DAVAO CITY Postal Code 8000

8. Issuer's telephone number, including area code

082-235-8888

9. Former name or former address, if changed since last report

N/A

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 SHARES	1,442,866,332
PREFERRED SHARES	14,500,000

11. Indicate the item numbers reported herein

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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.

Phoenix Petroleum Philippines, Inc.PNX

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Clarification of news article

Source	Inquirer.net
Subject of News Report	“BIZ BUZZ: Phoenix on the block”
Date of Publication	Sep 16, 2024

Clarification of News Report
We write in reply to your correspondence received today 16 September 2024 on the news article published in inquirer.net (Online Edition) entitled, “BIZ BUZZ: Phoenix on the block”, posted in inquirer.net (Online Edition) on 16 September 2024. The article reported in that: “During the time of former President Rodrigo Duterte, Dennis Uy stood out and was deemed a Pac-man for gobbling up all sorts of businesses, from casinos to energy, cars, telecommunications and even restaurants. The accumulated debt has unfortunately proven too heavy to carry thus he has reversed course and is now on a selling spree. Just recently, we reported here in Biz Buzz that Uy has struck a deal to sell Conti’s Bakeshop & Restaurant and Wendy’s Philippines to 41-year-old entrepreneur Crystal Jacinto. But even before that deal was hatched, Biz Buzz sources say that he has been quietly selling off bits and pieces of Phoenix Petroleum, which he established in Davao in 2022. Stations across the country have been bought and taken over by other parties, providing Uy with needed cash and offers to buy other stations are being entertained. . . . .” In the outset, we deem it noteworthy to emphasize that the Company’s business has nothing to do with any administration, past or present. The Company’s business is focused on selling and distributing Petroleum Products such as fuels, LPG and other related products. Second, in relation to the supposed deal to sell Conti’s Bakeshop & Restaurant and Wendy’s Philippines, the Company has no visibility on the accuracy of the report as it is separate and distinct from such Corporations. In relation to the allegation that the Corporation “has been quietly selling off bits and pieces of Phoenix Petroleum”, it is important to state that the Company has previously secured authorization from its Board of Directors and Stockholders to dispose of its non-performing and non-core assets in order to raise capital and streamline its operations. We hope we have fully clarified the matter on the above subject matters.
Other Relevant Information
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