Checklist

Petroleum Application Checklist

ANNEX C-1
 
 
 
 
 
CONTRACTING ROUND APPLICATION CHECKLIST
 
 
 
 
 
(Petroleum)
 
 
 
 
 
 
 
 
 
I. LEGAL

 

 
 
 
DOCUMENT FORMAT
           
[    ]   1) Duly filled-out covering information sheet (DOE Format); [ Original
[    ]   2) SEC Certificate of Registration or Incorporation;   Certified True Copy
[    ]   3)

SEC Articles of Incorporation and By-Laws (The corporate purpose of the applicant shall include the exploration and development of petroleum resources);

  Certified True Copy
 [    ]   4)

General Information Sheet (GIS) stamp-received by the SEC not more than 12 months old at the time of filing of application;

  Certified True Copy
 [    ]   5)

Certificate of Authority from the Board of Directors of the applicant authorizing designated representative/s to apply, negotiate, sign any document and execute the petroleum service contract.

The said Certificate of Authority shall be executed under oath by the Corporate Secretary;

  Original
 [    ]   6) Joint Venture Agreement, if applicable;   Original
           
     

NOTE:

For foreign applicants:

   
     

Document Nos. 2 - 5, applicants shall submit equivalent legal documents issued by the appropriate governing body and duty authenticated by the Philippine Consulate having the appropriate jurisdiction.

   
           
     

For local applicants:

   
     

Document Nos. 2 - 4 shall be duly authenticated by the SEC

All members of a Joint Venture shsll submit Documents 2 - 5.

   
     

 

   
[    ]   7)

Proof of payment for processing/application fee (DOE Official Receipt)

  Original
     

 

   
   

NOTE:

Payment Order/Remittance Slip to be secured from the Office of the Director, ERDB before payment to the Treasury Division 

   
     

Petroleum = Php 200,000.00

   
     

 

   
 
 
 
 
 
 
II. TECHNICAL
       
DOCUMENT FORMAT
           
    1)  Work program    
           
[    ]    a) Summary of proposed work program and minimum expenditure per Sub-Phase for each proposed activity with respect to the area specified in the proposal    Digital and Printed Copy
     

- Gantt Chart format

- Minimum Exploration and Work Commitment/Minimum Financial Commitment Matrix

   
 [    ]    b) Geological and geophysical evaluation of the area applied for   Digital and Printed Copy 
      - database    
      - petroleum potential analysis    
      - prospect lead evaluation    
      - resources    
      - probability of discovery    
           
 [    ]    c) Development and economic concepts of possible discoveries   Digital and Printed Copy 
      - plan of development    
      - project economics    
           
    NOTE: Each item in the exploration and work commitment matrix must be given a stipulated cost figure, the sum of which will constitute the minimum cost of the work program    
           
    2) Technical documentation     
           
 [    ]    a) The applicant shall submit an overview of all its Upstream Petroleum Related Projects   Digital and Printed Copy
 [    ]    b) Particulars of the technical and industrial qualifications, eligibilities and work-related experiences of the applicant and its employees. Particulars on the experiences, achievements, and track records of the applicant and its employees related to technical and industrial undertakings. Operational organization, including resources, expertise, and experience.   Original
           
           
III. FINANCIAL
       
DOCUMENT FORMAT
           
    1) For corporations existing for more than 2 years at the time of filing:    
           
 [    ]    a) Annual Report or Audited Financial Statements (FS) for the last two (2) years from the filing date and latest Unaudited FS duly signed by the responsible official such as the President and/or Chief Finance Officer if the Audited FS is more than six (6) months old at the time of filing.    Original
           
 [    ]    b) Bank Certification to substantiate the cash balance as of the latest unaudited FS; and   Original
           
 [    ]    c) Projected Cash Flow Statement for three (3) years covering fund sources and uses for the particular offered area, other applied PECR areas, renewable energy service contract applications, existing service/operating contracts with DOE and other existing business, if applicable, with supports by any or all of the following:   Original
      - Sales Agreement/Purchase Order of Buyer for projected revenues on existing operations;   Certified True Copy
      - Sworn Letter of Commitment from stockholders for additional equity/cash infusion within one (1) year of operation;   Original
      - Bank-approved loan/credit line earmarked for the proposed operation.   Original
           
 [    ]    d)  For domestic corporations, latest income tax returns filed with the Bureau of Internal Revenue, and duly validated with tax payments made thereon.    Certified True Copy 
           
    2) For newly-organized corporations (existing for two (2) years or less at the time of filing)    
           
 [    ]    a) Audited Financial Statements (FS) or unaudited FS duly signed by the responsible official such as the President and/or Chief Finance Officer;   Original
           
 [    ]    b) Bank Certification to substantiate the cash balance as of the latest unaudited FS;   Original
           
 [    ]    c) Projected Cash Flow Statement for three (3) years covering fund sources and uses for the particular offered area, other applied PECR areas, renewable energy service contract applications, existing services/operating contracts with DOE and other existing business, if applicable, with supports by any or all of the following:   Original
      - Sales Agreement/Purchase Order of Buyer for projected revenues on existing operations;   Certified True Copy
      - Sworn Letter of Commitment from stockholders for additional equity/cash infusion within one (1) year of operation;    Original
      - Bank-approved loan/credit line earmarked for the proposed operation.    Original
           
    3) For Parent Company's guarantee for corporations with insufficient working capital:    
           
           
 [    ]   a) Parent Company's financial documents per Petroleum Application Checklist Items III.1.a and III.1.b;   Original
           
 [    ]   b) Duly notarized Letter of Undertaking/Support from the Parent Company to fund the Work Program; and   Original
           
 [    ]   c) General Information Sheet (GIS) of the shareholder availing of the Parent Company fund guarantee.   Certified True Copy
           
    NOTE:      
      - Minimum working capital (Liquid Assets less Current Liabilities) is 100% of the financial commitment of the first contract year of the proposed work program and budget. Liquid Assets shall consist only of cash, trade accounts receivables and short-term investments/placements. Credit line is not a Liquid Asset.    
           
      - The available working capital for each PECR application shall be net of the fund requirements for other applied PECR areas, renewable energy service contract applications and existing energy service/operating contracts, if applicable.