PNOC EXPLORATION CORPORATION

(A Subsidiary of the Philippine National Oil Company)

STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the Nine Months ended September 30, 2015 (In Philippine Peso)

UnAudited September 2015 REVENUES

Audited December 2014

Audited December 2013

3,494,859,292

6,601,795,006

6,451,522,709

COST OF SALES

(1,724,685,784)

(2,328,803,175)

(2,185,904,391)

GROSS PROFIT

1,770,173,508

4,272,991,831

4,265,618,318

14,286,961

366,132,747

61,311,415

OTHER INCOME ADMINISTRATIVE EXPENSES OTHER EXPENSES FOREIGN EXCHANGE GAIN / (LOSS) PROFIT BEFORE TAX INCOME TAX EXPENSE PROFIT FOR THE YEAR

(393,649,012)

(1,160,227,318)

(616,418,582)

(35,969,835)

(37,569,757)

(22,394,187)

71,362,395

(1,207,154)

189,527,754

1,426,204,017 (382,365,551)

3,440,120,349 (1,009,772,832)

3,877,644,718 (944,467,213)

1,043,838,466

2,430,347,517

2,933,177,505

0.52

1.21

1.47

Basic/Diluted Earnings Per Share OTHER COMPREHENSIVE INCOME (LOSS) Other comprehensive income (loss) not to be reclassified to profit or loss in subsequent periods: Re-measurement gains (losses) on defined benefit plans

0

0

(15,050,645)

Income tax effect

0

0

4,515,193

Other comprehensive income (loss) for the year,net of tax

0

0

(10,535,452)

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

1,043,838,466

2,430,347,517

2,922,642,053