PetroEnergy Resources Corporation
PetroEnergy Resources Corporation (PERC) is engaged in oil and mineral development and exploration. The properties of PERC include various oil areas located in Philippines and Gabon. PERC holds 2.25% of the Etame permit in Gabon. The Etame permit consists of an offshore exploration area of 307,360 hectares that extends from depths of 200 meters in the Atlantic shelf to the near shore Gabon. The company is a wholly owned subsidiary of Petrofields Corporation. The company is headquartered in Pasig City, Philippines.The company reported revenues of (U.S. Dollars) USD 10.78 million during the fiscal year ended December 2008, an increase of 25.22% over 2007. The operating profit of the company was USD 3.46 million during the fiscal year 2008, an increase of 21.96% over 2007. The net profit of the company was USD 2.24 million during the fiscal year 2008, an increase of 8.46% over 2007.