Subsidiary

Forum Energy Limited

PXP Energy has a 67.19% controlling interest in Forum Energy Plc with 48.76% held directly and 18.43% held indirectly through FEC Resources, Inc., a 54.99%-owned subsidiary. Forum Energy is a UK incorporated upstream oil and gas company with focus on the Philippines. Its principal asset is a 70% interest in Service Contract 72 Reed Bank offshore west Palawan, which contains the Sampaguita gas discovery. The Service Contract is currently in the second Sub-Phase of the Exploration Period which involves the drilling of two wells.