Trans-Asia Oil and Energy Development Corporation (TA) was established and incorporated by the Philippine Investment Management, Inc. (PHINMA) 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 company 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 (2008)