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 17, 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 (formerly Philex Petroleum 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
Deed of Settlement and Release
Background/Description of the Disclosure
PXP Energy Corporation (“PXP” or the “Company”) wishes to announce that its subsidiary, Pitkin Petroleum Limited (“PPL”) and Pitkin Petroleum Peru Z-38 SRL (“Pitkin Peru”), a wholly-owned subsidiary of PPL, have entered into a Deed of Settlement and Release (the “Deed”) with KEI (Peru Z-38) Pty Ltd (“KEI”) and it’s wholly-owned branch KEI (Peru Z-38) Pty Ltd Sucursal del Peru (“KEI Peru”), wholly-owned by Karoon Energy Ltd (ASX: KAR), in respect of Pitkin Peru’s dispute with KEI Peru in Block Z-38 located in offshore Peru. Under the Deed, KEI has agreed to pay US$9.6 million in cash (“Settlement Sum”) to PPL in full and final settlement of all claims by Pitkin Peru and its associates in connection with Block Z-38. The said Deed will be effective upon the receipt of the Settlement Sum by PPL within 3 business days upon signing of the Deed. PPL is a 53.43%-owned subsidiary of PXP.
Other Relevant Information
About PXP Energy Corporation PXP is an upstream oil and gas company incorporated in the Philippines whose shares are listed on the Philippine Stock Exchange. The Company directly and indirectly owns oil and gas exploration and production assets located in the Philippines. For further information, please contact: Mark H. Rilles Finance Controller PXP Energy Corporation Telephone: (632) 631 1381 Email: [email protected]