In compliance with Executive Order No. 556, PNOC Exploration Corporation (PNOC EC) is in search of a joint venture partner to pursue its exploration program in its Service Contract (SC) 59. PNOC EC, which was awarded SC 59 by the Department of Energy (DOE) on January 13, 2006, holds 100% of the SC 59 block. The SC 59 block, which is located in South West Palawan just north of the Malaysian border, is in deep waters and is located along the trend of oil and gas fields of offshore Sabah.

PNOC EC now calls for the submission of Letter of Intent (LOI) from interested parties to apply for pre-qualification and to participate in the bidding for at least 50% participating interest in SC 59. Interested bidders must submit their LOI on or before April 11, 2008, 5:00 P.M. at PNOC EC (c/o PNOC EC's Vice President for Exploration and Production), Bldg. 1 Energy Center, Merritt Road, Fort Bonifacio, Taguig City, Philippines, and secure the Terms of Reference upon execution of a Confidentiality Agreement in the form provided to the Interested Party and upon payment of a non­refundable registration and data-viewing fee of One Thousand United States Dollars ($1,000). Only Interested Parties that submitted the LOI, signed the Confidentiality Agreement and paid the registration and data-viewing fee on or before April 11, 2008 shall be allowed to submit their pre-qualification requirements.

For the purpose of clarifying certain issues, a Pre-bid Conference shall be held on April 28, 2008 at 10:00 A.M. at PNOC EC Head Office, Bldg. 1 Energy Center, Merritt Road Fort Bonifacio, Taguig City.

Five (5) sets of Pre-qualification requirements must be submitted in a sealed envelope to PNOC EC's Vice President for Exploration and Production on or before May 12, 2008, 5:00 P.M. Only those interested parties who pass the pre-qualification stage shall be allowed to participate in the bidding. Only bids from bidders who comply with all the requirements of the Bidding Procedures contained in the Terms of Reference shall be evaluated by PNOC EC.

Deadline for submission of bids is on June 2, 2008, 2:00 P.M. Late bids shall not be accepted.

PNOC EC reserves the right to accept or reject any bid, to annul the bidding process, and to reject all bids at any time prior to award, without thereby incurring any liability to the affected bidder or bidders.

This publication is also posted in our website at www.pnoc-ec.com.ph and in the DBM website at www.procurementservice.net.