Due to their failure to submit work program and other requirements, the Department of Energy (DoE) was prompted to cancel at least four oil and gas exploration service contracts (SCs), two of which are with Burgundy Global Exploration Corporation.
These contracts, according to highly-placed sources are SCs 65 to 68, covering acreages in East Palawan basin; Cagayan and Agusan-Davao basins.
It can be gleaned from DOE records that Service Contract 65 is with Miocene Mining and Energy Corporation covering an area of 860,000 hectares along Cagayan basin. The contract’s effective date was May 7, 2008 and is supposed to lapse by November 7, 2015.
SC 66 is with Helios Petroleum and Gas Corporation for a block of 488,000 hectares along Agusan-Davao basin.