Ayala-owned upstream petroleum firm ACE Enexor Inc. has kicked off its search for a deep-pocketed and technically experienced partner for its planned oil and gas exploration venture at an offshore block in Northwest Palawan. “We’re beginning to explore, we’re still in the partner-search process. That’s still a work in progress,” ACE Enexor Chairman and CEO […]

ACE Enexor Inc. of the Ayala group said the Department of Energy (DOE) has approved plans of its subsidiary Palawan 55 Exploration and Production Corp. to drill wells in order to appraise a natural gas find off northwest Palawan. It said in a regulatory filing that the DOE’s approval also covered the budget of the […]

  ACE ENEXOR ASM SPEECH 2020 ANNUAL STOCKHOLDERS’ MEETING MESSAGE FROM THE CHAIRMAN JOHN ERIC T. FRANCIA APRIL 20, 2020 Esteemed shareholders, my colleagues on the Board and management, ladies and gentlemen, good morning to all of you.COVID-19 The impact of the COVID-19 pandemic continues to be felt globally, and the crisis is set to […]

Ayala-owned firm ACE Enexor Inc. plans to drill an initial well for oil and gas at its awarded petroleum block in northwest Palawan basin. In the company’s annual stockholders meeting on Monday (April 20), ACE Enexor Chief Operating Officer Raymundo A. Reyes, Jr. indicated that they already committed to the Department of Energy (DOE) – […]

AN Ayala-led petroleum exploration unit is currently assessing two potential areas for oil drilling in West Palawan. In the online annual stockholders meeting of ACE Enexor Inc. on Monday, the company said that its subsidiary Palawan55 Exploration & Production Corp. is conducting evaluations for two possible oil sites. “Palawan55 is currently conducting [a] follow-on evaluation […]