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 29, 2022

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

UB 111 Paseo de Roxas Bldg., Paseo de Roxas Avenue, Legaspi Village, Makati City Postal Code 1229

8. Issuer's telephone number, including area code

(+63) 7917-8118

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	14,668,643,064

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 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Results of the Regular Board of Directors Meeting of September 29, 2022
Background/Description of the Disclosure
The Board of Directors of Basic Energy Corporation (the Company; BSC/BEC), in its Regular Board meeting on September 29,2022, at which a quorum was present, and upon motion duly seconded, unanimously took note of and/or approved the following: Confirmation Approval of Budget for Wind Prospecting – in view of the Company’s thrust to search and develop other power plant projects (particularly solar and wind) the Board was presented with seven (7) areas of interest for possible wind power development. To further assess the potential of these sites, the Company intends to procure the services of third-party experts to qualify and make necessary recommendations on the hierarchy of potentials of each area. To effectuate this a budgetary requirement of PHP 6,352,842 was being proposed by Management for the approval of the Board. After further discussion and motion duly seconded, the Board of BSC resolved and confirmed their approval of the recommended budget for wind prospecting as presented.
Other Relevant Information
Further updates and details in relation to the prospective areas of interest as well as results of the wind prospecting studies shall be made as and when definitive data is available. Please refer to attached SEC Form 17-C