Bass Oil Ltd ( (AU:BAS) ) just unveiled an update.
Bass Oil Limited has reported its annual reserves review for 2024, showing its 2P oil reserves remain largely unchanged at 0.789 million barrels. However, the company’s 2C Contingent Resources in the Cooper Basin have increased by 52% to 1.735 million barrels of oil equivalent, driven by a higher-than-expected Condensate to Gas Ratio during the Kiwi 1 Extended Production Test. This increase in contingent resources suggests potential for future conversion to reserves, which could enhance Bass Oil’s operational capacity and market position.
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, including the fully owned Worrior and Padulla oil fields, and a 55% interest in a South Sumatra Basin KSO in Indonesia. The company is debt-free and focuses on leveraging its operational strengths and relationships in both Australia and Indonesia.
YTD Price Performance: -13.33%
Average Trading Volume: 188,991
Technical Sentiment Signal: Buy
Current Market Cap: A$15.1M
See more insights into BAS stock on TipRanks’ Stock Analysis page.