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)

Aug 11, 2023

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

(+632) 9917-8118

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 Special Board Meeting 11 August 2023 - Re-Auction of Delinquent Shares
Background/Description of the Disclosure
The Board of Directors of Basic Energy Corporation, in a special board meeting held on 11 August 2023, at which a quorum was present, and on motion duly seconded unanimously approved to the re-auction of the 450,000,000 delinquent shares for the minimum bid price of PHP129,982,336.67 consisting of up to PHP113,463,586.67, plus accrued interest of up to PHP16,518,750.00. Target date of public auction has been set for September 12, 2023, 10 AM at GM Bldg., 240 EDSA, Barangay Wack Wack, Greenhills North, Mandaluyong City. The Board also approved the appointment of Puyat Jacinto & Santos Law Office as the authorized representatives of the Corporation in relation to the re-auction process. The Company shall issue subsequent bid bulletins on the details of the public auction, which shall be posted at the Company’s website at www.basicenergy.ph.
Other Relevant Information
Please refer to attached SEC 17-C. Said 450,000,000 shares pertain to the delinquent shares which were previously auctioned last August 10, 2021, but had a failed to be auctioned-off for lack of bidders.