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)
- Jun 25, 2021
- 2. SEC Identification Number
- CS200719819
- 3. BIR Tax Identification No.
- 006-940-588-000
- 4. Exact name of issuer as specified in its charter
- PXP ENERGY CORPORATION
- 5. Province, country or other jurisdiction of incorporation
- Philippines
- 6. Industry Classification Code(SEC Use Only)
- 7. Address of principal office
- 2F LaunchPad, Reliance cor Sheridan St., Mandaluyong City Postal Code 1550
- 8. Issuer's telephone number, including area code
- 0286311381
- 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 1,960,000,000 - 11. Indicate the item numbers reported herein
- 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.
PXP Energy CorporationPXP
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 |
|---|
Pitkin Petroleum Peru Z-38 SRL |
| Background/Description of the Disclosure |
PXP Energy Corporation (“PXP” or the “Company”) wishes to announce that KEI (Peru Z-38) Pty Ltd Sucursal del Peru (“KEI”), a subsidiary of Karoon Energy Limited (ASX:KAR), has informed our subsidiary, Pitkin Petroleum Limited (“Pitkin Ltd”), through its subsidiary Pitkin Petroleum Peru Z-38 SRL (“Pitkin Peru”) that KEI will not take any action in its own capacity to extend the term of the License Contract issued by the Government of Peru for the Exploration and Exploitation of Hydrocarbons in Peru Block Z-38 located in offshore Peru held by Pitkin Peru and KEI (the “License”), or any exploration phase, including by seeking to enter into the fourth period of the exploration phase (“Fourth EP”) under the License. Accordingly, Pitkin Ltd has determined that there exists a likelihood that the License will terminate on account of what Pitkin Ltd views as KEI's breach of its obligations to Pitkin Peru (among other matters) to give notice on or before June 27, 2021 that Pitkin and KEI intend to enter into the Fourth EP; to undertake all the necessary works to drill a second exploratory well; and to carry Pitkin Peru in all expenditures and costs in the Fourth EP up to the fulfillment of KEI’s obligation to drill the aforementioned well (the “Pikin Carry”). PXP refers to its Announcement on 25 May 2021 (references therein to “Pitkin Petroleum Z-38 SRL” should be read as “Pitkin Petroleum Peru Z-38 SRL”, i.e. Pitkin Peru as defined herein). |
| Other Relevant Information |
Pitkin Ltd, a 53.43%-owned subsidiary of PXP, has a 25% participating interest in Peru Block Z-38, through its wholly-owned subsidiary, Pitkin Peru. |
| Name | Daniel Stephen Carlos |
|---|---|
| Designation | President |