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Bass Oil Ltd ( (AU:BAS) ) has issued an update.
In its quarterly report for the period ending June 30, 2025, Bass Oil Limited announced significant progress in its strategic aim to become a gas producer by acquiring a 100% interest in the Vanessa gas field and associated infrastructure at no cash cost. The acquisition is expected to advance the company’s commercialisation efforts for its deep coal gas resource, positioning Bass for future growth as a mid-tier oil and gas producer. The quarter also saw oil sales of A$1.69 million, with production averaging 234 barrels of oil per day. Despite a decline in oil prices, the company increased its cash reserves by 79% compared to the previous quarter, and raised $925,180 through a Non-Renounceable Rights Issue.
More about Bass Oil Ltd
Bass Oil Limited is an Australian-listed oil producer with a majority interest in eight permits in the Cooper Basin, Australia, and a 55% interest in a South Sumatra Basin KSO, Indonesia. The company is debt-free and focuses on leveraging its operational capabilities and relationships to create value in the oil and gas industry.
Average Trading Volume: 528,935
Technical Sentiment Signal: Sell
Current Market Cap: A$8.3M
Learn more about BAS stock on TipRanks’ Stock Analysis page.