ABOUT

In pursuit of energy self-reliance.

TA Petroleum is a Philippine corporation organized on 28 September 1994 as a wholly-owned subsidiary of Trans Asia Oil & Energy Development Corporation (TA Oil) with primary purpose to engage in the business of oil and gas exploration, development, and production both domestically and internationally.

On December 21, 2012, TA Petroleum acquired TA Oil’s interests in four oil and gas Service Contracts in the Philippines, namely: (a) 6.82% interest (gross) in SC 55 West Palawan (through its 69.35% share in its subsidiary, Palawan55), (b) 6.67% interest in SC 51 East Visayas, (c) 6.00% in SC 69 Camotes Sea, and (d) 2.334% in SC 6 Block A and 14.063% in SC 6 Block B.

Pursuant to Presidential Decree No. 87 or “The Oil Exploration and Development Act of 1972” (“PD 87”), the Company as a Contractor is obligated to undertake, manage and execute petroleum operations and to provide all necessary services and technology and perform the exploration work obligations and program prescribed in the said Service Contracts.

As the oil exploration arm of Trans-Asia Oil & Energy Development, Trans-Asia Petroleum ventures into partnerships with the Philippine government under four key Service Contracts (SC’s.)

Under the SC, TA Petroleum has the exclusive rights to explore, develop and produce petroleum resources within the contract area.

These SC’s include:

Contract Location Interest Issue Date Commercial
Terms
Partners Work Program
2013-2014
SC 51
(oil & gas)
Eastern Visayas 6.67% 8 July 2005 A Otto Energy Investments, Cosco Capital Inc., PetroEnergy Resources Corp. Drilling of an onshore well prematurely terminated in 3Q 2013.
SC 55
(gas)
Offshore West Palawan 6.82% 5 August 2005 A, B BHP Billiton Petroleum (Philippines), Otto Energy Investments Drilling in 2014, subject to local permits
SC 6 Block A
(oil & gas)
Northwest Palawan 2.334% 1 September 1973 A Pitkin Petroleum, Philodrill Corp., PetroEnergy Resources, Philex Petroleum, Forum Energy Philippines, Anglo-Philippine Holding, Alcorn Gold Resources Geological and Geophysical Studies. New 3D seismic acquisition programmed in 2nd half 2013, subject to issuance of local permits
SC 6 Block B (oil) Northwest Palawan 14.063% 1 September 1973 A Philodrill Corp., Nido Petroleum Ltd., Oriental Petroleum & Minerals Corp., Forum Energy Philippines Corp., Alcorn Petroleum & Minerals Corp. Geological and Geophysical studies
SC 69
(oil & gas)
Camotes Sea, Eastern Visayas 6.00% 7 May 2008 A Otto Energy, Frontier Gasfields Pty. Ltd. Interpretation of 229 km of 3D seismic data acquired in 2011 completed. Farming out drilling phase.


Map


Trans-Asia Oil & Energy Development Corporation Organization Chart*


Trans-Asia Oil & Energy Development Corporation Organization Chart

*The corporate organization chart effective upon the distribution of dividends of Trans-Asia Petroleum shares by Trans Asia Oil & Energy Development Corporation

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