• PGI in a Farm-in Agreement with Otto Energy Phils., Inc.

    On July 30, 2015, the Corporation’s subsidiary, Pryce Gases, Inc. (“PGI”) entered into a Farm-In Agreement with Otto Energy Philippines, Inc. (“Otto Philippines”) to acquire from the latter ten percent (10%) participating interest in Service Contract 55 (SC 55) of the Philippine Government through the Department of Energy. In consideration therefor, PGI will pay US$3.225million equivalent to 10% of the Well Costs for the drilling and testing of the Hawkeye-1 exploration well within SC 55. Said participating interest would entitle PGI to 10% of the earnings and the cost recovery pool. Click Here for Disclosure Details