Bass Oil Limited (ASX: BAS), an Australian-listed oil producer with operations in the Cooper Basin and South Sumatra Basin, reported strong operational and financial results for October 2024. Total sales revenue reached US$455,195 (AU$692,944), with group production averaging 263 barrels of oil per day (bopd), totaling 8,156 barrels. In the Cooper Basin, Bass achieved production of 2,934 barrels, selling 2,206 barrels at an average price of AU$113.09 per barrel. Indonesian operations contributed 5,222 barrels, sold at an average price of US$71.22 per barrel.
Key developments include the successful pressure survey of the Kiwi 1 well, confirming significant economic potential, and progress toward commercialization of the PEL 182 deep coal resource. Additionally, drilling preparations advanced for the Bunian 6 well in Indonesia. Bass remains debt-free, leveraging its expertise and partnerships to enhance shareholder value through production growth and strategic project advancements.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
