Eureka! It works!

A MicroFocus COBOL program running in 16-BIT mode calling an IBM C SET++ program running in 32-BIT mode. It was a pure and excitement!!!!

NTCOB16.CBL 
     $set ans85 linklib(coblib+os2286)
       identification division.
           program-id. NTCOB16.
       environment division.
       special-names.
                call-convention 3 is Pascal.
       data division.
       working-storage section.
       77  the-number      pic 9(4) comp-5  value 26.
       77  the-message     pic x(10)        value "Before" & x'00'.
       procedure division.
                display the-number the-message.
                call pascal "NTC32" using
                                    by reference the-number
                                    by reference the-message.                                     .
                display the-number  the-message.
                stop run.             

NTC32.C
#include <stdio.h>
_Far16 _Pascal NTC32(short int * _Seg16 the_number, char * _Seg16 the_mess)
{
   char * the_pointer32;

        /* Going from 16:16(16-BIT) to 0:32(32-bit) for the-mess 
                because printf and stcpy would receive 16:16(16-BIT) address */

                the_pointer32 = the_mess;

                printf("Received parameters: %i, %s", *the_number, the_pointer32);

        /* Change parameters to show it works well           */

                *the_number = 39;
                strcpy(the_pointer32,"After");
}

NCT32.DEF
; DEF for DLL
LIBRARY INITINSTANCE
CODE LOADONCALL         
EXPORTS NTC32 @1

Long live to 32-BIT!!!!