Bass Oil Ltd (AU:BAS) has released an update.
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Bass Oil Limited has announced that the Kiwi-1 gas flow test results confirm the field’s commercial potential, with significant value projections. The company’s Kiwi gas field, fully owned by Bass Oil, boasts an after-tax net present value of $24 million for the best estimate of resources, which could rise to $73.5 million according to a high estimate. Bass Oil is now exploring funding options to transition the Kiwi field into full production, potentially doubling its reserves.
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