Screenshot from Ratio Petroleum website MANILA - The Department of Energy (DOE) bared Thursday that Israeli firm Ratio Petroleum, the operator of Service Contract (SC) 76, has found prospective oil and gas deposits in the north part of East Palawan Basin as a result of its exploration within the block. "Ratio Petroleum, the operator of SC No. 76, has identified two possible petroleum plays with over 20 leads delineated within their contract block following the completion of the first phase of their work program in October 2020," DOE said in a statement. A play pertains to a group of oil fields while a lead is a subsurface with the potential to have entrapped oil or natural gas. "Ratio Petroleum's initial work program has resulted in the identification of numerous leads that emphasize the prospectiveness of the basin. Several leads show clear anomalies, which supports the concept of the basin being gas-prone," DOE Undersecretary Alessandro Sales said. The DOE awa