Oriental Petroleum and Minerals Corporation Reports Earnings Results for the Full Year Ended December 31, 2023

Oriental Petroleum and Minerals Corporation is a Philippines-based exploration and production company. The Company is engaged in exploring, developing, and producing petroleum and mineral resources in the Philippines. The Company, together with other oil exploration companies, entered into a Service Contract (SC) with the Philippine Government, through the Department of Energy (DOE), for the exploration, development and exploitation of certain contract areas situated in offshore Palawan. The principal properties of the Company consist of petroleum exploration areas in the Philippines, onshore and offshore, which include SC 6 and 6B, and SC14C, all of which are located in Northwest Palawan. Its subsidiary includes Linapacan Oil Gas and Power Corporation (LOGPOCOR), which conducts the business relative to the exploration, extraction, production, transporting, marketing, utilization, conservation and stockpiling or storage of any forms of energy products and resources.