PXP Energy Corporation (formerly Philex Petroleum Corporation) (“PXP” or “the Company”), is a

Philippine corporation organized in December 2007 and is listed in the Philippine Stock Exchange.
The Company has interests in various petroleum service contracts in the Philippines and Peru held
directly and through its major subsidiaries, Pitkin Petroleum Limited (“Pitkin”) and Forum Energy Limited
(“Forum”).
The Company’s direct interest in Philippine petroleum service contracts includes (1) a 50% operating
interest in SC 75; (2) a 70% operating interest in SC 74; (3) a 1.65% overriding royalty interest in SC 6
Cadlao and, (4) a 5.56% interest SC 6A Octon; all located in the Northwest Palawan.
The Company holds a 53.43% controlling interest in Pitkin, an upstream oil and gas company registered in
the United Kingdom with operations in Peru. Pitkin’s asset is a 25% participating interest in Peru Block Z-
38 located in offshore Tumbes Basin.
The Company also holds a 77.5% controlling interest in Forum, with 69.5% held directly and 8.0% held
indirectly through a 54.99%-owned subsidiary, FEC Resources, Inc. (“FEC”), a Canadian public company
registered with the US Securities and Exchange Commission, the Alberta Securities Commission, and the
British Columbia Securities Commission and quoted in North America. Forum, a UK incorporated
company with focus on the Philippines, has: (a) a 70% operating interest in SC 72 Recto Bank which
covers the Sampaguita natural gas discovery in offshore West Palawan, held through Forum (GSEC 101)
Limited, (b) a 100% operating interest in SC 40 North Cebu held through Forum Exploration, Inc., and (c)
minority interests in the SC 6 and SC 14 sub-blocks in offshore Northwest Palawan, including a 2.27%
interest in the producing Galoc field, held through Forum Energy Philippines Corporation.

PXP Energy Corporation is an upstream oil and gas company incorporated in the Philippines in
December 2007 as a wholly-owned subsidiary of Philex Mining Corporation. It was previously known
as Philex Petroleum Corporation. After the distribution of approximately 36% of Philex Petroleum
shares to Philex Mining shareholders as property dividends, Philex Petroleum listed its shares on the
second board of the Philippine Stock Exchange under the Amended Rules on Listing by Way of
Introduction of the PSE on September 12, 2011.

Overview
Philex Petroleum Corporation (Philex Petroleum or the Company) is an upstream oil and gas company
incorporated in the Philippines in December 2007 as a wholly-owned subsidiary of Philex Mining
Corporation. After the distribution of approximately 36% of Philex Petroleum shares to Philex Mining
shareholders as property dividends, Philex Petroleum listed its shares on the second board of the
Philippine Stock Exchange under the Amended Rules on Listing by Way of Introduction of the PSE on
September 12, 2011.

The Company has interests in various petroleum service contracts in the Philippines and Peru held
directly and through its major subsidiaries, Pitkin Petroleum Plc (“Pitkin”) and Forum Energy Plc (“Forum”).

Prior to the distribution of the Company’s shares as property dividend in 2011, the Company had ten
stockholders, nine of whom were individuals with one share each. Subsequently, the number of
shareholders totaled to 35,350. The Company's two biggest shareholders, Philex Mining and First Pacific,
are leaders in business and industry in the Philippines and Asia. Philex Mining is a leader in mining and a
pioneer in oil exploration in the Philippines, and First Pacific is an investment management and holding
company with business interests in Asia relating to Telecommunication, Infrastructure, Consumer Food
Products and Natural Resources.