Philex Petroleum Corporation and Philex Mining Corp. Announce Resignation of Officer

PXP Energy Corporation is a Philippines-based upstream oil and gas company. The Company is engaged in businesses related to all kinds of petroleum and petroleum products, mineral oils, and other sources of energy. The Company operates through two segments: oil and gas activities and coal mining activities. The Company has interests in various petroleum Service Contracts (SCs) in the Philippines held directly and through its subsidiary, Forum Energy Limited (FEL). The Company also holds a 100% controlling interest in Pitkin Petroleum Limited (Pitkin), an upstream oil and gas company, and Brixton Energy & Mining Corporation (BEMC). The Company’s direct interest in Philippine petroleum SCs includes a 50% operating interest in SC 75 (NW Palawan), a 70% operating interest in SC 74 (Linapacan) and a 5.56% interest in SC 6A (Octon), all located in Northwest Palawan. FEL is engaged in the business of oil and gas exploration and production, with a focus on the Philippines.