PHILEX PETROLEUM CORPORATION announced at its Organizational meeting of board of directors held on May 17, 2016, approved the appointment of Manuel V. Pangilinan as Chairman, Daniel Stephen P. Carlos as President, Paraluman M. Navarro as Tresurer and Barbara Anne C. Migallos as Corporate Secretary. The company also appointed Emerlinda R. Roman as Independent Chairman of Audit committee and Robert C. Nicholson, Benjamin S. Austria as members of Audit committee. The company also appointed Benjamin S. Austria, Daniel Stephen P. Carlos, Diana B. Pardo-Aguilar, Marilyn A. Victoria-Aquino and Eulalio B. Austin, Jr. to the Risk Committee of the company. The company also appointed Benjamin S. Austria, Daniel Stephen P. Carlos, Diana B. Pardo-Aguilar, Marilyn A. Victoria-Aquino and Eulalio B. Austin, Jr. to the Risk Committee of the company. The company also appointed Manuel V. Pangilinan as Chairman of the Nominations Committee, Robert C. Nicholson as Member of the Nominations Committee and Benjamin S. Austria as Independent Member of the Nominations Committee. The company also appointed Manuel V. Pangilinan as Chairman of the Compensation Committee, Emerlinda R. Roman as Independent Member of the Compensation Committee and Daniel Stephen P. Carlos as Member of the Compensation Committee. The company also appointed Benjamin S. Austria as Independent Chairman of the Resources Committee, Daniel Stephen P. Carlos as Member of the Resources Committee and Diana B. Pardo-Aguilar as Member of the Resources Committee. The company also appointed Robert C. Nicholson as Chairman of the Finance Committee, Emerlinda R. Roman as Independent Member of the Finance Committee and Diana B. Pardo-Aguilar as Member of the Finance Committee. And the company also appointed Marilyn A. Victoria-Aquino as Chairman of the Corporate Governance Committee, Benjamin S. Austria as Independent Member of the Corporate Governance Committee and Emerlinda R. Roman as Independent Member of the Corporate Governance Committee.