Shares of listed companies with interests in oil and gas prospects in the West Philippine Sea surged after the Philippines and China agreed to form a special panel on possible joint exploration efforts. As of Thursday’s close, the stock price of PXP Energy Corp. climbed 39.68 percent from P8.82 per share to P12.32 per share; Atok-Big Wedge Co. jumped 36.92 percent from P13 apiece to P17.80 apiece, and Apex Mining Co. Inc. rose 18.79 percent from P1.49 per share to P1.77 per share. PXP Energy has a direct operating interest of 50 percent in Service Contract 75 northwest Palawan.

Rivera, D. (2018, February 17). Shares of firms in West Phl Sea surge on Phl-China joint exploration talks. The Philippine Star, p. B3.