Phinma Energy Corporation and Basic Energy Corporation signed a Deed of Assignment, whereby Phinma Energy Corporation assigns its rights, interests, privileges, duties and obligations under the Mabini Geothermal Service Contract (GSC No. 8) by reasons of its withdrawal from the Joint Operating Agreement effective August 21, 2018. The Deed of Assignment assigns, transfer and conveys back to Basic Energy Corporation the entire and undivided 25% participating interest of Phinma Energy under Mabini Geothermal Service Contract No.

8, subject to the approval of the Department of Energy.