Philex joining oil exploration auction
August 3rd, 2011
Filed under: Mineral - Oil, Operator - Philex
Philex Mining Corp., the majority shareholder of Forum Energy Plc exploring the Recto Bank (formerly Reed Bank) area, has expressed interest to join the next bidding for energy contracts, a company official said.
The government is evaluating proposals for the 15 oil and gas exploration areas up for bidding.
“Well, we might [bid]. It’s something the country needs to explore,” Philex Mining chairman Manuel Pangilinan said.
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