Basin Energy Limited (AU:BSN) has released an update.
Basin Energy Limited reported a decrease in cash from operating activities, with staff and administration costs totaling $307,000 in the current quarter. However, the company’s cash position benefited significantly from financing activities, contributing $3,116,000 to the cash flow, mainly through equity securities issues. Despite substantial investments in exploration and evaluation, the firm’s overall cash and equivalents saw a net increase for the quarter.
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