SUMMARY OF REGIONAL COAL RESERVES formula

As of 31 December 2013 positive:  open pit = insitu x .85

                 underground = insitu x .60
RESOURCE POSITIVE PROBABLE IN-SITU MINEABLE                  positive ‐ coal production = positive
POTENTIAL RESERVES RESERVES RESERVES RESERVES insitu :     probable x 2/3 + positive    
mineable:  insitu x 0.6
CAGAYAN VALLEY 336,000,000.0000 80,104,730.0000 3,695,000.0000 82,568,063.3333 70,182,853.8333
CEBU (CENTRAL) 40,000,000.0000 3,354,055.0000 4,763,160.0000 6,529,495.0000 3,917,697.0000
CEBU (NORTHERN) 75,000,000.0000 2,229,719.0000 655,727.0000 2,666,870.3333 1,600,122.2000
CEBU (SOUTHERN) 50,000,000.0000 1,180,049.1100 1,870,206.0000 2,426,853.1100 1,456,111.8660
DAVAO 100,000,000.0000 208,000.0000 - 208,000.0000 124,800.0000
MASBATE 2,500,000.0000 74,994.0000 74,994.0000 44,996.4000
MINDORO 100,000,000.0000 1,310,641.0000 198,000.0000 1,442,641.0000 865,584.6000
NEGROS 4,500,000.0000 1,204,952.4800 1,213,387.0000 2,013,877.1467 1,208,326.2880
POLILLO, BATAN & 17,000,000.0000 4,947,708.9200 1,604,675.0000 6,017,492.2533 3,610,495.3520
CATANDUANES
QUEZON 2,000,000.0000 93,000.0000 93,000.0000 55,800.0000
SAMAR 27,000,000.0000 7,474,890.0000 1,667,725.0000 8,586,706.6667 7,278,807.4167
SEMIRARA 570,000,000.0000 83,104,434.0000 43,820,358.0000 112,318,006.0000 95,470,305.1000
SURIGAO 209,000,000.0000 28,897,746.2100 60,978,034.0000 69,549,768.8767 47,559,036.3260
ZAMBOANGA 45,000,000.0000 33,995,638.7400 5,984,679.0000 37,985,424.7400 22,791,254.8440
BUKIDNON 50,000,000.0000
MAGUINDANAO 108,000,000.0000
SARANGANI 120,000,000.0000
SOUTH COTABATO 230,400,000.0000 35,093,186.0000 68,959,017.0000 81,065,864.0000 48,639,518.4000
SULTAN KUDARAT 300,300,000.0000

TOTAL 2,386,700,000.0000 283,273,744.4600 195,409,968.0000 413,547,056.4600 304,805,709.6260

NOTE:

Positive reserves are those sufficiently explored by drilling and / or tunnelling to warrant inclusion in a company's five-year
development / production program. Drillholes are generally spaced at not more than 200 meters apart and in highly disturbed
areas like Cebu, holes are not more than 100 meters apart.

Probable reserves are those explored by drilling and / or tunnelling, but still need confirmatory drilling and / or tunnelling.
Drillholes are generally spaced at 200 to 400 meters apart except in fairly undisturbed areas like Cagayan.

The mineable reserves are computed by multiplying the total in-situ reserves (positive + 2/3 probable) by a mining recovery factor
of 60% for underground areas and 85% for open pit areas.

Except for Cagayan, Semirara and part of Samar and Surigao, all other areas are treated as underground areas.

Resource potential is taken from Robertson Research International Ltd., 1977 evaluation
coal production as of 31 December 2013