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Basic Energy Corporation haved passed the legal, technical and financial requirements prescribed by the Department of Energy (DOE)

Basic Energy Corporation (the Company) recently received the letter dated August 22, 2012 of the Department of Energy (DOE) that its applications for Geothermal Renewable Energy Service Contracts covering three (3) frontier geothermal areas, namely: East Mankayan, Benguet; Mariveles, Bataan; and Iriga, Camarines Sur have passed the legal, technical and financial requirements prescribed by the DOE. These projects are in line with the 2012 business thrust of Basic Energy Corporation to look into new projects in renewable energy development and production.
The East Mankayan geothermal area lies immediately east of the Cervantes, (locos Sur geothermal block of Pan Pacific Power Phils, Inc., south of the Bontoc-Sadanga block which is operated by Magma Energy Resources and immediately south of the Daklan block operated by Clean Rock Energy.

The area actually covers the 3 provinces of Benguet, Mountain Province and Ifugao.

The Mariveles, Bataan geothermal area is situated along the West Luzon Volcanic Arc which starts from Mt. Pinatubo in the north and extends farther south across the Manila Bay towards Batangas and northeastern Mindoro.

Lastly, the Iriga, Camarines Sur geothermal area is bounded to the north by the Isarog geothermal block of PNOC-RC and to the east by the highly productive Tiwi geothermal service contract area of formerly Chevron, now AP Renewables, Inc.

The areal landscape is dominated by Iriga or Asog Volcano, a relatively in stratovolcano immediately southwest of Lake Buhi in southern Luzon.

With the Company's compliance with the processing and evaluation requirements of the DOE, the Geothermal Renewable Service Contracts for the abovementioned geothermal areas shall be executed upon final approval of the DOE.
 

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"Basic Energy Corporation haved passed the legal, technical and financial requirements prescribed by the Department of Energy (DOE)" was written by under the Business category. It has been read 977 times and generated 0 comments. The article was created on and updated on 13 September 2012.
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