Hi Barca,
FYI... Additional information per your post.
Petroenergy sells interest in Galoc | By Amy R. Remo | Philippine Daily Inquirer | 07/01/2009
//MANILA, Philippines—Listed-firm Petroenergy Resources Corp. has sold its 1.03-percent participating interest in Service Contract 14C or the Galoc oil field in offshore Palawan, for $800,000 per percentage interest point.//
//“The decision to proceed with the sale was made because management believes that the minimal participating interest in the Galoc oil field will not contribute significantly to the revenue, considering the risks involved,” Profeta explained.//
getting smashed, page-27
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