C05010-2014

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Sep 23, 2014

2. SEC Identification Number

AS-093-8127

3. BIR Tax Identification No.

002-834-075

4. Exact name of issuer as specified in its charter

APC Group Inc.

5. Province, country or other jurisdiction of incorporation

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

8th Floor Philcom Building, 8755 Paseo de Roxas, Makati City Postal Code 1226

8. Issuer's telephone number, including area code

(632) 845-0614

9. Former name or former address, if changed since last report

NA

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Stock	7,511,809,997

11. Indicate the item numbers reported herein

NA

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

APC Group, Inc.APC

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Reply to PSE dated September 23, 2014

Source	BusinessWorld Online
Subject of News Report	$300-M geothermal plant to be delayed
Date of Publication	Sep 22, 2014

Clarification of News Report

This is in response to PSE’s request for clarification/confirmation of the news article posted in BusinessWorld Online on September 22, 2014 stating in part that:

“PHILIPPINE ENERGY and mining firm APC Group, Inc. said on Monday it had pushed back by one or two years to 2019 or 2020 the opening of a $300-million geothermal power plant in northern Philippines due to construction-related problems.

The project, which APC is developing with Chevron Geothermal Philippines Holdings, Inc. -- local unit of Chevron Corp. -- was due to start operations in 2018.

But difficulties in reaching the mountainous project site and safety issues are hampering the completion of the 100-megawatt (MW) facility, APC Group director Bernardo D. Lim told reporters.

Drilling work was expected to start in 2016, followed by construction of the power plant which would take up to three years to finish, said Jackson T. Ongsip, APC chief finance officer. . . . .”

APC is confirming to the fact that Sub-phase 3 involving the drilling of exploration wells of the Geothermal Project in Kalinga is planned to take place in 2016. If the results of the exploration wells prove the existence of a commercial steam resource, construction of the power plant will follow, which is estimated to be completed in three years. We also confirm that exploration activities have been delayed because of the difficult terrain, security and safety issues, access problems and bad weather.

Other Relevant Information

NA

Filed on behalf by:

Name	Monette Cruz
Designation	Chief Accountant