Basin Energy Balances Exploration Costs with Financing

Basin Energy Limited (AU:BSN) has released an update.

Basin Energy Limited reported a net cash outflow from operating activities amounting to $295,000 for the current quarter and $1,222,000 year to date, alongside a significant investment in exploration and evaluation with cash outflows reaching $2,296,000 for the quarter. However, the company managed to offset some of the cash outflows with $3,339,000 generated from financing activities, mainly through the issuance of equity securities.

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