Anniversary Message of the President and CEO

 

PNOC EC has gone a long way from the time of its incorporation way back in 1976. As we celebrate our 42nd year in business, I thought it worthwhile to share my thoughts on the past 4 decades.  PNOC EC started as a listed Company attracting investments from people who believed and continued to believe that there is a future in an exploration company.  We are proud to say that our Company has been a valuable contributor in our nation building through dividends that we have remitted to the government coffers.  As a result, we have given our small private stockholders something to smile about.  The future of this Company does not end in Malampaya but we will continue without let up of trying to find other sources of revenues from overseas so that we will have the wherewithal to invest in finding other Malampaya in the Philippines.  Our Company’s main focus will be oil and gas exploration but if opportunities present themselves, we can go into power generation and refining as well.

With the help of our Chairman and Department of Energy Secretary Alfonso G. Cusi and the members of our Board, I see no reason why we will not succeed.

This year’s anniversary is also personally very meaningful for me.  Just today, I received from the Office of the Ombudsman the decision dismissing the complaint filed against me, the members of the PNOC EC Board, and Mr. Asllan Jaku of Pionaire Finance Limited for violation of Section 3 (a), (e), (g), (i) and (j) of RA No. 3019 and for Grave Misconduct.  In its Joint Resolution in OMB-C-C-16-0431 and OMB-C-A_16_0374, the Ombudsman found all the allegations in the Complaint without merits and held that there was no violation of the aforementioned Section 3 of RA No. 3019.  In others words, the Complaint was purely a harassment tactic designed to malign the reputation and smear the name of public officials who are honest and professionals.  I can say with all candor that I maintained my career in government for more than four (4) decades without any tinge of corruption, whatsoever.  The Complainant in this case has a penchant for filing frivolous and unwarranted complaints designed to malign and tarnish the reputation of good public officials.

I would like to end this message by taking this opportunity to reflect on our past and look forward to our future. I would like to thank the men and women behind PNOC EC, both past and present, for shaping our Company to what it is today.  The next 40 years or so will challenge each of us.  The work will be hard but we will be ready.  PNOC EC will be ready to do the impossible.

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(page update April 25, 2017)