PNOC Exploration Corporation is currently in search for a joint venture partner to pursue its exploration program in its Service Contract 59.

SC 59 (West Balabac) covers an area of 14,760 square kilometers and is located off the southwestern most tip of Palawan, just north of the Malaysian border. The Department of Energy awarded SC 59 on January 13,2006 to PNOC EC, which currently holds 100% interest. Please click here for more information about SC 59

PNOC EC now calls for the submission of Letter of Intent (L01) from interested parties to apply for pre-qualification and to participate in the bidding for at least 50% participating interest in the said service contract. Interested bidders are required to submit their respective LOIs on or before April 16, 2008, 5:00pm at the PNOC EC head office in Fort Bonifacio.Please click here for more details on the bidding process

Bidding Schedule

Date	Activity
March 30 & April 6, 2008	Publication of Invitation to Apply for Pre-Qualification and to Bid
March 31 - April 16, 2008	Registration by interested Parties thru submission of Letter of Intent
March 31 - April 25, 2008	Preparation of Pre-qualification Requirements and Data-Viewing/Due Diligence Period
April 21, 2008	Deadline for submission of written comments and questions from Interested Parties
April 28, 2008	Pre-Bid Conference with Interested Parties
May 12, 2008	Deadline for Submission of Pre-qualification Requirements
May 12 - 16, 2008	Evaluation of Pre-qualification Requirements
May 19, 2008	Announcement of Pre-qualified Interested Parties
June 2, 2008	Deadline for Submission of Bids of Pre-qualified Interested Parties; Opening of Bids
June 2 - 13, 2008	Evaluation of Bids
June 16, 2008	Announcement of Winning Interested Party
June 30, 2008	Execution of Final Transaction Documents ( Farm-in Agreement)