Philex Petroleum Corporation (Philex Petroleum or the Company) is an upstream oil and gas company incorporated in the Philippines in December 2007 as a wholly-owned subsidiary of Philex Mining Corporation. After the distribution of approximately 36% of Philex Petroleum shares to Philex Mining shareholders as property dividends, Philex Petroleum listed its shares on the second board of the Philippine Stock Exchange under the Amended Rules on Listing by Way of Introduction of the PSE on September 12, 2011.
The Company has interests in various petroleum service contracts in the Philippines and Peru held directly and through its major subsidiaries, Pitkin Petroleum Plc (“Pitkin”) and Forum Energy Plc (“Forum”).
Prior to the distribution of the Company’s shares as property dividend in 2011, the Company had ten stockholders, nine of whom were individuals with one share each. Subsequently, the number of shareholders totaled to 35,350. The Company's two biggest shareholders, Philex Mining and First Pacific, are leaders in business and industry in the Philippines and Asia. Philex Mining is a leader in mining and a pioneer in oil exploration in the Philippines, and First Pacific is an investment management and holding company with business interests in Asia relating to Telecommunication, Infrastructure, Consumer Food Products and Natural Resources.