BASIC Energy Corp. on Friday said it is relinquishing its two service contracts to explore geothermal resources, as well as giving up its stake in a consortium that holds a contract for a natural gas exploration project.
In a disclosure, the listed firm said it submitted to the Department of Energy (DoE) on Friday its notice to withdraw from the Mabini Geothermal Service Contract 8 in Batangas, which is subject to the DoE’s approval.
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