"The Philippines is like a blind beggar sitting on a mountain of gold. Within the country’s 200-mile Exclusive Economic Zone (EEZ) are potential recoverable hydrocarbon deposits worth an estimated US$26.3 trillion. More than enough to lift the country from the centuries long morass of poverty and underdevelopment,” Nemenzo said."
http://www.mb.com.ph/articles/358043...n-oil-reserves
