Ed. Santuangco painting

This painting is signed Ed. Santuangco.  My research indicated that he is one of the foremost Filipino artists today.  His father was also a painter.  

I believe that the paining is either oil or acrylic and is one of his earlier works.  His style and colors are different now than when this was painted.  The painting is approx. 3-4 feet in height, 4-5 feet long and 4 inches in depth.  The frame looks original.  

I originally bought this painting at a yard sale to reuse (paint over) as I do some painting of my own.  However, I decided not to do so and have since found out that Mr. Santuangco is a well-known Filipino artist.

I would like to get an approximate valuation for insurance purposes.