BASIC ENERGY CORP. has tapped a local firm to determine the technical viability of its geothermal projects.
Basic Energy told the stock exchange yesterday it signed an agreement for services with FEDS Energy Resources and Development Services, Inc. for the “conduct of review and evaluation of existing data and reconnaissance geological and geochemical survey of its geothermal projects.”
The projects are located in East Mankayan straddling Benguet, Mountain Province and Ifugao; Mariveles, Bataan; Iriga, Camarines Sur and West Bulusan in Sorsogon.
Under the services agreement, FEDS will evaluate the projects’ preliminary technical viability, aiding Basic Energy in planning for the surface exploration phase. The study is estimated to be completed in three months.
FEDS is a technical management and consultancy company with expertise in energy and natural exploration, exploitation and production, including minerals, oil & gas, coalbed methane, geothermal, and other renewable energy sources.
Basic Energy was awarded the four service contracts in 2013
source: http://www.bworldonline.com/content.php?section=Economy&title=basic-energy-reviews-geothermal-site-feasibility&id=103345
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