SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Sep 24, 2020

2. SEC Identification Number

36359

3. BIR Tax Identification No.

000-438-702-000

4. Exact name of issuer as specified in its charter

BASIC ENERGY CORPORATION

5. Province, country or other jurisdiction of incorporation

MAKATI CITY

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

7/F Basic Petroleum Bldg., 104 Carlos Palanca St., Legaspi Village, Makati City Postal Code 1229

8. Issuer's telephone number, including area code

(+632) 8817-8596

9. Former name or former address, if changed since last report

not applicable

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common shares	2,815,392,714

11. Indicate the item numbers reported herein

Item No.9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Basic Energy CorporationBSC

PSE Disclosure Form 4-9 - Change in External Auditor References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Change of External Auditor
Background/Description of the Disclosure
The Board of Directors of Basic Energy Corporation (the Company), in its meeting held on September 24, 2020, approved and endorsed for approval of stockholders at the annual stockholders meeting to be held on October 23, 2020, the Audit Committee’s recommendation for the appointment of the auditing firm Reyes Tacandong & Co., as the new external auditor of the Company beginning with the financial statements of the Company for the fiscal year 2020. SGV & Co. being the external auditor of the Company since 1972, the change of external auditor is in line with the corporate governance standards of the Company.

Date of Approval by Board of Directors	Sep 24, 2020
Date of Approval by Stockholders	TBA
Previous External Auditor	SGV & Co
New External Auditor	Reyes Tacandong & Co.
Effective Date of Engagement of New External Auditor	Sep 24, 2020

Rationale for Replacement
The change of external auditor is in line with the corporate governance standards of the Company. The change of the external auditor is a component of the strategic plans of the Company to take on new investment directions and embark on new renewable energy projects to transform the Company into a viable and sustainable energy company.
Other Relevant Information
See attached SEC Form 17-C