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Bass Oil Ltd ( (AU:BAS) ) has provided an announcement.
Bass Oil reported March quarter net production of 19,519 barrels, down 13.1% on the prior quarter, as heavy rains in the Cooper Basin delayed trucking and sales, though Indonesian operations remained unaffected and realised oil prices rose to about US$72 per barrel. Cooper Basin trucking resumed in early April with strong pricing, while the company advanced the Vanessa gas acquisition, prepared to drill the Bunian 6 well in May, secured a A$3.5 million South Australian gas initiative grant, and completed a A$3 million capital raising, strengthening its push into the East Coast gas market and bolstering its growth plans.
More about Bass Oil Ltd
Bass Oil Limited is an Australian-listed oil producer focused on assets in the Cooper Basin and Indonesia. The company holds majority interests in eight Cooper Basin permits, including the 100% owned Worrior and Padulla oil fields, and a 55% stake in an Indonesian KSO, and operates debt free with ambitions to become a mid-tier oil and gas producer.
Average Trading Volume: 4,093,585
Technical Sentiment Signal: Buy
Current Market Cap: A$21.65M
For an in-depth examination of BAS stock, go to TipRanks’ Overview page.