Corporate Profile

Oriental Petroleum and Minerals Corporation was organized for the purpose of exploration, development, financing and management of all kinds of petroleum and mineral properties in the Philippines. The company was incorporated on December 22, 1969 and started its commercial operation in February 1970.

At the time of incorporation, it had an authorized capital of Php 100,000,000.00 million pesos divided into six billion (6,000,000,000) class “A” common shares and Four Billion (4,000,000,000) class “B” common shares for a total of Ten Billion (10,000,000,000) common shares with a par value of One Centavo (Php 0.01) per share. Class “A” and Class “B” common shares enjoy the same rights and voting privileges, except that class “A” shares are issued solely to citizens of the Philippines, while class “B” shares may be issued to Filipino citizens and to aliens alike.

The registration of the Company’s securities was approved on March 24, 1970 and trading in the “over the counter” market then, started on April 3, 1970. Formal listing with the Manila Stock Exchange was made on November 6, 1970.

The capital stock of the Corporation was increased to One Hundred Twenty Five Million ( Php 125,000,000.00 ) pesos on December 6, 1979. Class “A” was increased to seven billion five hundred million ( 7,500,000,000 ) shares valued at Seventy Five Million ( Php 75,000,000.00) pesos while class “B” was increased to five billion shares (5,000,000,000) shares valued at Fifty Million ( Php 50,000,000.00 ) pesos for a total of twelve billion five hundred million (12,500,000,000) shares. Par value remains at Php 0.01 centavo per share.

On February 22, 1995, the capital stock of the corporation was again increased to Two Billion (2,000,000,000) pesos divided into One Hundred Twenty Billion (120,000,000,000) class “A” common shares with value of One Billion Two Hundred Million (Php 1,200,000,000.00) pesos and Eighty Billion (80,000,000,000) class “B” common shares with value of Eight Hundred Million (Php 800,000,000.00) pesos for a total of Two Hundred Billion (200,000,000,000) common shares with a par value of One Centavo (Php 0.01) per share. Class “A” and Class “B” common shares enjoy the same rights and voting privileges, except that class “A” shares are issued solely to citizens of the Philippines, while class “B” shares may be issued to Filipino citizens and to aliens alike.

Oriental Petroleum and Minerals Corporation is one of the pioneers in the oil and gas exploration and production arena in the country. The company has actively participated in its capacity either as SC operator or as a joint-venture partner in various petroleum exploration activities all over the country.

The company has three (3) wholly owned subsidiaries namely:

  1. Linapacan Oil and Gas Power Corporation (LOGPOCOR), the company was incorporated on January 19, 1993 to engage in energy project and carry on and conducts the business relative to the exploration, extraction, production, transporting, marketing, utilization, conservation, stockpiling of any forms of energy products and resources. The company has participating interest in petroleum Service Contract – 14, Blocks A, B and C.
  2. Oriental Mahogany Woodworks, Inc. (OMWI), the company was incorporated and started its commercial operations on May 2, 1988 with the principal objective of supplying overseas manufactures, importers and designers with high quality furniture. On March 31, 1994, the Board of Directors approved the cessation of the Company’s manufacturing operations effective May 1, 1994 due to the continued unfavorable business performance of the company.
  3. Oriental Land Corporation (OLC), the company was incorporated on February 24, 1989 as realty arm of OPMC. It has remained inactive since incorporation.