Basic Energy Corporation (BSC) was originally incorporated as Basic Enterprises, Inc. on September 19, 1968 and became an oil and gas exploration and development company on April 26, 1971, assuming a new name, Basic Petroleum and Minerals, Inc. Over the years, BSC evolved from an operating company to a holding company under the corporate name, Basic Consolidated, Inc. In 2007, in line with the inclusion among its primary purposes the production of ethanol and other biofuels, and the development of other alternative and renewable energy sources, the Company changed its corporate name from Basic Petroleum Corporation to Basic Energy Corporation.
A farm-in deal was firmed up between local firms Trans-Asia Oil and Energy Development Corporation and Basic Energy Corporation on the former’s equity acquisition in a geothermal service contract in Mabini, Batangas. It was provided under the farm-in agreement that Trans-Asia will acquire from Basic Energy “25-percent undivided participating interest in the rights, interests, privileges,…read more
Trans-Asia Oil and Energy Development Corp. has raised its stake in a geothermal service contract located in Mabini, Batangas. In a disclosure to the Philippine Stock Exchange (PSE), Trans-Asia said it acquired from Basic Energy Corp. (Basic) a 25-percent participating interest in Geothermal Service Contract No. 8. Trans-Asia said it already signed a farm-in agreement…read more