| C08828-2025 |
| Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
|---|---|---|
| Common Stock | 196,561,500,000 |
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.
| Subject of the Disclosure |
|---|
Expiration of SC14 C1- Galoc Block and Non- Participation to Development and Production Sharing Contract (DPPSC) |
| Background/Description of the Disclosure |
Oriental Petroleum and Minerals Corporation (OPMC) is a joint venture partner in Service Contract No. 14C1 (SC 14C1)- Galoc Oil Field, holding a 7.78505% participating interest. The contract area covers approximately 16,000 hectares. Service Contract No. 14 was originally awarded on December 17, 1975. In 2010, the Department of Energy (DOE) approved the final fifteen (15)-year extension of SC 14, extending its term until December 17, 2025. |
| Other Relevant Information |
On March 26, 2025, NPG Pty. Ltd., the Operator of SC 14C1, formally submitted an application to the Department of Energy (DOE) for a Development and Production Petroleum Service Contract (DPPSC) covering the SC14 C1 to recover the remaining reserves in the Galoc Oil Field. Subsequently, on September 9, 2025, OPMC resolved not to participate in the DPPSC application. This decision was formally acknowledged by NPG on September 15, 2025 and was thereafter communicated to the DOE on September 23, 2025. To date, however, OPMC has not been advised officially by its Joint Venture Partners of their and the DOE's disposition of OPMC's decision not to continue its participation in the DPPSC. |
| Name | Vicente Caoile, Jr. |
|---|---|
| Designation | Corporate Secretary and Corporate Information Officer |