Philippines’ Philex raises stake in Pitkin Petroleum to 10.7 pct
January 2nd, 2008
Filed under: Mineral - Oil & Gas, Operator - Philex
MANILA, Dec 26, 2007 (Thomson Financial via COMTEX) — PLXCF | charts | news | PowerRating — Philippine miner Philex Mining Corp said Wednesday it has acquired an additional 6 million shares in Pitkin Petroleum Ltd for 3 million dollars to raise its stake in the Texas-based exploration company to 10.7 percent from 4.0 percent.
Pitkin has drilling projects in Vietnam which involve two wells costing about 53 million dollars
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