Gas2grid Limited's (ASX:GGX) strategy includes conventional petroleum exploration for oil onshore Cebu in the Philippines where it has produced oil from two separate reservoir intervals in the Malolos oil field.

The Australian sharemarket fell on Thursday as investors digested some mixed earnings results. Investors also managed to take profit for the market after two days gains. At the close, the benchmark S&P/ASX 200 index lost 13 points, or 0.28 per cent, to 4654.9, while the broader All Ordinaries index gave up 12.9 points, or 0.28 per cent to 4673.9.