MARKET HEADLINE: SHORT SELLING BY OCTOBER

PHINMA Energy Corp.
#1
BUSINESS PROFILE

Trans-Asia Oil and Energy Development Corporation (TA) was established and incorporated by the Philippine Investment Management (PHINMA), Inc. on September 8, 1969 to primarily engage in petroleum exploration and production. It was PHINMA's second major involvement in the field of energy after it established Filoil Refinery Corporation in 1959. At the height of the world oil crisis in 1973, the Philippine government acquired Filoil and made it a part of Petrophil Corporation, now Petron Corporation.

TA was in the consortium that produced oil in Cadlao in 1981, and in 1987, TA led the first all-Filipino consortium to drill and produce oil from a high-angle directional well in the Tara field. The Company also joined a consortium in 1988 for the North Matinloc project.

TA continues to be active in several exploration projects, particularly in large and high-potential areas. At present, the cCmpany is represented in four service contracts. TA has explored for nickel, copper, silica, gold, and coal in various areas in the Philippines, and has an existing Mineral Production Sharing Agreement over an area in Jose Panganiban, Camarines Norte. The Company also has mining lease contracts covering pozzolanic tuff deposits in Rizal.

To balance its involvement in the high-risk business of exploration, TA diversified to other industries such as cement manufacturing, coal trading and power generation. TA currently has investments in electricity trading, power generation (by itself and also through Trans-Asia Power Generation Corporation and CIP II Power Corporation), renewable energy (Trans-Asia Renewable Energy Corporation), mining (Trans-Asia Gold and Minerals Development Corporation) and housing development (Phinma Property Holdings Corporation).

Source: SEC Form 17-A (2009)


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Kung walang drama walang saya Tongue
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#2
Trans-Asia set to build 135MW coal power plant in Batangas

LISTED Trans-Asia Oil and Energy Development Corp. said on Thursday it is in the process of expanding its current power-generation portfolio as it sets plans to put up a 135-megawatt (MW) coal-fired power plant in Puting Bato West in Calaca, Batangas.

Trans-Asia said in a statement it will soon start the development of the power plant in Batangas, as it continues to seek investment opportunities to expand its power generation portfolio.

Trans-Asia said the total project is estimated to cost P12.4 billion, of which 70 percent will be funded through debt and the rest through equity.

Debt financing, according to Trans-Asia, is being negotiated with BDO Capital as lead arranger, with a timetable for the financial closing within four months.

The company has already signed the turnkey engineering, procurement and construction contract with DM Consunji Inc. The plant and equipment will be engineered and fabricated by Chinese contractor CNTIC.

Trans-Asia said they expect the project to be completed within 32 months from issuance of the notice to proceed. The company will fund project equity using proceeds of the stocks rights offer they recently issued to common shareholders.

Trans-Asia recently finished its stock rights offering of 1.165 billion common shares to existing eligible common shareholders of record date. The stock right is issued at the proportion of seven rights shares for every 10 existing common shares held as of record date at an offer price of P1 per rights share on June 3. The 1.165 billion common shares will be listed on the Philippine Stock Exchange on June 21.

Trans-Asia said the Securities and Exchange Commission (SEC) approved the increase in the authorized capital stock of 2.200 billion common shares to increase its total authorized capital stock to P4.200 billion for 4.2 billion common shares with a par value of one peso per share.

Trans-Asia said the offer shall be subject to the SEC’s approval of the company’s application for increase in its authorized capital stock. The issued and outstanding common shares total to 2.830 billion.

Proceeds of the rights offering will be used to partially finance equity investment in the Maibarara geothermal power project that straddles  Calamba, Laguna and Santo Tomas, Batangas.

Trans-owned 25-percent of Maibarara Geothermal Inc. that will put up a 20-MW geothermal power plant, which is targeted to be operational by the second half of 2013.

The project is estimated to cost P3.22 billion, of which 60 percent will be funded through debt and 40 percent through equity.

Trans-Asia also revealed that it will soon finish the feasibility studies for a 54-MW wind power plant in San Lorenzo, Guimaras.

Over 45 months of wind resource studies, according to Trans-Asia, have confirmed a moderate wind regime in the island, which is enough to support the envisioned project capacity.

Trans-Asia said the project is estimated to cost $150 million, which it hopes to finance through a combination of debt and equity together with strategic partners.

http://www.businessmirror.com.ph/home/co...n-batangas
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#3
Phinma’s Trans-Asia Oil looking for new partners

TRANS-ASIA Oil and Energy Development Corp. (TA Oil), the power unit of the Phinma group, is looking for partners for new projects, including its coal-fired power plant in Batangas and proposed wind power plants in Guimaras province, a top official said on Tuesday.

TA Oil president and chief executive officer Francisco Viray said potential partners would lend expertise and financial support to the company, which seeks to grow its generating capacity to about 250 megawatts (MW) in five years from the current 75 MW. “We are looking for partners but right now we are pursuing [these projects] on our own,” Viray told reporters, following the listing of shares issued during the company’s P1.17-billion stock-rights offering at the Philippine Stock Exchange on Tuesday. “We are looking for strategic, technical and financial partners, whichever is available,” he added.

Proceeds from the rights offering would be used to finance a portion of the budget allocated to the company’s coal-power plant in Calaca, Batangas, and a geothermal venture straddling Calamba, Laguna and Santo Tomas, Batangas, where TA Oil has a 25-percent interest. The coal project involves the construction of a 135-MW power plant at a cost of P12.4 billion, 70 percent of which will be financed through debt financing being arranged by BDO Capital and Investment Corp.

The geothermal project, through Maibarara Geothermal Inc., includes a 20-MW geothermal plant at a cost of P3.22 billion, which will be commissioned by the second half of 2013.

The company is also completing studies for a 54-MW wind power plant in San Lorenzo, Guimaras, which could cost about $150 million. Viray noted that TA Oil is still waiting for the implementing rules on feed-in tariff rates to be issued by the government. He said this would allow the firm to evaluate whether this project will be feasible.

The aforementioned projects will keep TA Oil occupied over the next five years, Viray said. “We just want to be a niche player in the industry. We don’t have to be big,” he said.

TA Oil shares closed down 0.96 percent to P1.03 each on Tuesday.

http://www.businessmirror.com.ph/home/co...w-partners
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#4
Consortium abandons oil well in Leyte

TACLOBAN CITY -- The consortium drilling a potential oil well that initially showed promise of reserves for liquefied petroleum gas (LPG) in offshore San Isidro, Leyte has abandoned the site after failing to penetrate the area’s sturdy rock formations.

Bert Garcia, engineering manager of consortium member NorAsian Energy Philippines, Inc., yesterday told members of the Leyte provincial board that repeated attempts to penetrate over-pressured rock formation at a depth of 250 meters failed.

“After reviewing the situation, the company decided to quit for this season and prepare for another campaign later,” Mr. Garcia said.

“We encountered a very high pressure even on a shallow depth. The contour is very difficult and there were weak zones at shallow 224 meters depth. There is a high gas and water flow that we cannot control. It might cause an underground blowout,” Mr. Garcia added.

Meanwhile, the firm also reported to the provincial board that it has begun its three-dimensional (3D) survey of the Camotes seabed between Cebu and Leyte.

The said seabed is covered by Service Contract 69. The survey will check whether drilling for oil in the area will be viable.

Mr. Garcia said they will complete the survey of the 150-square-kilometer area in 18 days.

“The 3D seismic survey is designed to elevate prospects previously delineated in a seismic survey [last year],” Mr. Garcia said.

NorAsian, along with Trans-Asia, Alcorn Gold Resources Corp., and PetroEnergy Resources Corp. started drilling the Duhat-1 and Duhat-1A wells off the coast of San Isidro town in May this year. “When we were drilling the first hole, we were able to detect C3 and C4 gases,” he said.

“In ordinary parlance, these gases compose the LPG. So we are very optimistic of this prospect,” Mr. Garcia added.

He said they were evaluating the results of their initial drilling operations, and preparing the budget for another drilling campaign early next year.

The consortium was awarded Service Contract 51, which encompasses around 332,000 hectares over the northwest Leyte basin and is estimated to produce two million to 18 million barrels of oil. -- Reyan L. Arinto

http://www.bworld.com.ph/content.php?sec...e&id=33496
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#5
In the news on Jun 23 (http://business.inquirer.net/5005/firms-...l-prospect):

"In a disclosure to the Philippine Stock Exchange, Trans-Asia Oil explained that the consortium was able to acquire 229 square kilometers of 3D seismic data. The digital data would be shipped to a processing center soon, the company added."

How soon kaya yung soon? Smile. sana malapit na...
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#6
yey, TA! galing ni boss Spy
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#7
(06-28-2011, 10:31 AM)aiz Wrote: yey, TA! galing ni boss Spy

Starting to do a possible reversal from Double Top TP target hit posted by Arthas a few days back Ruach thread. Big Grin
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#8
(06-28-2011, 10:39 AM)Ruach Wrote:
(06-28-2011, 10:31 AM)aiz Wrote: yey, TA! galing ni boss Spy

Starting to do a possible reversal from Double Top TP target hit posted by Arthas a few days back Ruach thread. Big Grin

yup, checked it na Smile. thanks, as always
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#9
tinignan ko chart mukha ngang tama ka ms ruach
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#10
Thanks once again to The Transformer - Arthas for Trans-Asia Chart. Link below:

http://www.stockmarketpilipinas.com/Thre...ch?page=11

Below is the link for Double-Top Reversal:

http://www.forexforum.net/forex-tutorial...mation.htm
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