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Dec 7, 2017 @ 19:04

Director dealings: James Go boosts shareholdings in OPMC


Oriental Petroleum Corp. announced that its chairman and CEO James Go has acquired 16.7 million shares in the company.

In a regulatory filing, OPMC said Go, who also sits as chairman and CEO of the family-owned JG Summit Holdings Inc., purchased the shares at P0.012 or about P200,400 on Dec. 5.

OPMC earlier said it was looking at reactivating the Cadlao and West Linapacan oilfields to augment profitability.

The two oilfields were closed down in the 1990s due to low oil prices at that time.

OPMC’s revenues come from operation activities in its service contracts from the Galoc, Nido and Matinloc oilfields.

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