Philippines:

Trans-Asia Ups Stake in Geothermal Project (The Manila Times)

Trans-Asia Oil and Energy Development Corp. has raised its stake in a geothermal service contract for the planned 20 MW Mabini geothermal power project located in Batangas.

In a disclosure to the Philippine Stock Exchange (PSE), Trans-Asia said it acquired from Basic Energy Corp. (Basic) a 25-percent participating interest in Geothermal Service Contract No. 8.

Trans-Asia said it already signed a farm-in agreement and a deed of assignment with Basic Energy providing for its acquisition of such stake.

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