Friday, February 16, 2018

Oriental Petroleum and Minerals Corporation (OPM)



1. Company Information
Company Name
Oriental Petroleum and Minerals Corporation (OPM)
Sector
Mining and Oil
Incorporation Date
Dec 22, 1969
Subsector
Oil
Number of employees
(Group Total)
Board of Directors
Chairman: James L. Go, President: Robert Coyiuto, Jr.
Website / E-mail
orientalpetroleum@digitelone.com / http://www.opmc.com.ph
2. Stock Information (Class A)
Total Assets
90,615,558 USD
Market Capitalization
1,440,000,000.00
Total Liabilities
2,691,068 USD
Outstanding Shares
120,000,000,000
Retained Earnings
2,625,188 USD
Listed Shares
120,000,000,000
Listing Date
Oct 14, 1970
Issued Shares
120,000,000,000
Board Lot
100,000
Free Float Level (%)
0%
Par Value
0.01
Foreign Ownership Limit
3. Major Stock Holders (common shares)
Consolidated Robina Capital Corp
R. Coyiuto Securities, Inc.
Prudential Guarantee & Assurance
J.G. Summit Holdings, Inc.
18.53
12.07
6.67
0.88
4. Company Descriptions and Business Development
Notes
1. Related Companies: JGS
2. It has 80 billions of Class B shares also.
3. Chairman is buying shares.....it changed 2nd purpose of by-laws to engage renewable energy.
Overview
OPM's petroleum revenues and production and related expenses are derived from SC 14 Contract Area, which is composed of four blocks, namely, A (Nido), B (Matinloc), C (Galoc & West Linapacan) and D. Of these blocks, only blocks of Nido, Matinloc and Galoc are in operation. West Linapacan is currently under evaluation for re-activation after it was shut-in in 1991 due to water intrusion, and Block D is designated as the retention block.

Business
Nido and Matinloc oilfields’ combined production were sold and delivered to Pilipinas Shell while production from Galoc were sold and delivered to various customers. For the year ended December 31, 2016, the Company recorded total revenue from petroleum operations of US$8.67 million. The main source of this revenue was from Galoc operations which contributed a total of US$7.72 million.

Contract Location Expiration Date Share (%)
SC 6B (Bonita) NW Palawan February 28, 2024 14.063
SC 14A (Nido) NW Palawan December 17, 2025 42.940
SC 14B (Matinloc) NW Palawan December 17, 2025 17.703
SC 14B1 (N. Matinloc) NW Palawan December 17, 2025 27.772
SC14C (West Linapacan) NW Palawan December 17, 2025 30.288
SC14C (Galoc) NW Palawan December 17, 2025 December 17, 2025 7.785
SC 14D NW Palawan December 17, 2025 20.829

Subsidiaries / Associates / Affiliates / Joint Ventures
Oriental Mahogany Woodworks, Inc. (100%)
Linapacan Oil Gas and Power Corporation (100%)
Oriental Land Corporation. (100%)

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MARKET ISSUES

[last partial update : 02/28/2018] Macro and Overseas (a) US interest rate : 1.25 ~ 1.5%, May increase 3 times in 2018 (b) US 10 yr bond...