Professional Documents
Culture Documents
4
9M2014 Financial Highlights
5
9M2014 Revenue Breakdown
Gold
Revenue Share per Product Copper
(PhP million) Silver
Petroleum & other
3% 8,378
7,730 2%
1% 42% 1%
43%
8%
54% 54%
9M2014 9M2013
PRODUCT BREAKDOWN
(PhP million)
% Inc
9M2014 9M2013
(Dec)
Gold 4,493 4,179 8
Copper 3,549 3,330 7
Silver 61 63 (4)
6
Petroleum & others 276 159 73
6
9M2014 Cost and Expenses
7
9M2014 Capital Expenditures
9M2014 9M2013
9
3Q2014 Cost and Expenses
10
Financial Position
ASSETS (in million pesos)
As of
As of Dec % Inc
September
30, 2014
31, 2013 (Dec)
Increase in deferred
Cash & cash equivalents 2,340 4,081 (43)
Receivables & others 4,338 4,306 1
exploration costs due to
Current assets 6,678 8,387 (20) additional investments in
Property, plant & equipment 7,251 6,880 5 Silangan and areas near
Deferred exploration costs &
24,953 22,427 11 Padcal
other NCA
Total assets 41,302 39,890 4
18
De-risking the Project
19
OIL AND GAS EXPLORATION 20
9M2014 Financial Highlights
% Inc
(PhP million, unless indicated) 9M2014 9M2013
(Dec)
Gross Revenue 276 156 76
Cost and Expenses 337 359 (6)
Income from Operations (61) (203) (70)
Other Income (charges) (314) (29) (982)
Reported Net Income (377) (190) (98)
21
Exploration Cost
PXP Parent
SC 75 (Area 4) 69
Pitkin
Peru Block Z-38 3,156
SC 53 (Mindoro) 538
Forum
SC 72 (Reed Bank) 800
Total 4,798
22
Major Assets in the Philippines
Pitkin 35%
Exploration Sub-Phase 2
Forum 2.2%
Production
Forum 67%
Philex 50% Exploration & Production
Exploration Sub-Phase 1
Pitkin 70%
Exploration Sub-Phase 1
Forum 70%
Exploration Sub-Phase 2
23
23
Major Assets in Peru
Pitkin 25%
Third Exploration Period
CONFIDENTIAL
Pitkin 100%
Second Exploration Period
24
24
Indicative Exploration and
Development Timelines
2014 2015 2016 2017 2018
Peru Z-38
Pitkin 25%
Peru Block XXVIII
Pitkin 100%
SC53 Mindoro Development
Pitkin 35% Decision?
SC74 NW Palawan
Pitkin 70%
SC72 Reed Bank
Forum 70%
SC14C2 W. Lina. Development
Forum 2.2% Decision?
SC40 Cebu
Forum 40%
SC75 NW Palawan
Philex 50%