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Bass Oil Ltd ( (AU:BAS) ) has issued an update.
Bass Oil Limited reported total November sales revenue of A$564,320 on group production averaging 249 barrels of oil per day, with 7,480 barrels produced and sold across its Cooper Basin and Indonesian assets. While Cooper Basin output dipped 8% to 2,551 barrels due to jet pump wear at the Padulla-3 well, Indonesian production rose more than 9% to 4,929 barrels, supported by strong realised prices in both regions. Operational uptime at Worrior and Padulla remained around 99%, and a pump replacement is scheduled to stabilise Cooper Basin volumes. Strategically, Bass advanced its transition into gas with a binding three-year gas sales agreement with Origin Energy covering up to 12 petajoules from the Vanessa gas field from 2026, alongside progressing regulatory approvals and detailed planning to recommission the well, facilities and pipeline. The Vanessa acquisition is expected to open Bass’s first gas sales into the east coast market, provide scope for reserve growth from conventional and tight gas in the Toolachee and Patchawarra formations, and support appraisal of deep coal resources in PEL 182, potentially strengthening the company’s production base and resource portfolio.
The most recent analyst rating on (AU:BAS) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Bass Oil Ltd stock, see the AU:BAS Stock Forecast page.
More about Bass Oil Ltd
Bass Oil Limited is an Australian-listed, debt-free oil producer with a majority interest in eight permits in the Cooper Basin, including the 100%-owned Worrior and Padulla oil fields, and a 55% interest in an Indonesian KSO. The company focuses on conventional oil and emerging gas production, targeting both Australian east coast energy markets and Indonesian oil markets to drive shareholder value.
Average Trading Volume: 1,160,420
Technical Sentiment Signal: Buy
Current Market Cap: A$16.61M
Learn more about BAS stock on TipRanks’ Stock Analysis page.