BAS - Bass Oil

Finally seeing some volume build up in BAS today.
Given we are still a week away (or so) from spud, it will be interesting to see if BAS can get any traction in the SP.
The target is small but it is really an appraisal, so the chances of success are much higher than a typical wildcat.

Holding BAS at 2.6c ave and watching.

Interesting times pre-spud for BAS:

"Appointment of Mr Jayme McCoy and Mr David Lindh OAM as Non-Executive

[/color]Directors of the Company:

Mr Jayme McCoy has over 25 years experience in the oil and gas industry and

previously served as the Managing Director of ASX listed Sundance Energy

Australia Ltd. prior to his resignation earlier this year.

Mr David Lindh OAM has over 30 years experience as both a lawyer and company

director. Mr Lindh is currently the Chairman of ASX listed Island Sky Australia Ltd and

has been the Chairman of Enterprise Energy Ltd, Orca Petroleum Ltd and Centrex

Metals Ltd. Mr Lindh is also currently Chairman of Adelaide Equity Partners Limited, a

director of various other unlisted companies and a consultant with Minter Ellison lawyers

in Adelaide." ASX announcement 25/11


Happy to see Adelaide Equities starting to throw their weight around. Let's
face it - BAS have done precious little for over 2 years. With Adelaide Equities
on the board and keen to see their investment grow, suddenly we should see some
renewed enthusiasm to get deals done. Now lets hope that they start to get things moving with the Chinese. A decent announcement in this areaand the SP could go northward very quickly.

As a possible side benefit, given Adelaide Equities sudden appearance on the board, one would think it is unlikely that they plan to dump large amounts of recent SPP stock. This is good news for the SP as we want to see it grow as spud approaches.


Nice to see SP hit 3.2c today.

Holding BAS at 2.6c ave

With Windermere about to start drilling in the next week or so, the announcement of Vic/P41 being renewed is great news in the context of recent talks with the Chinese.

In simple terms:
1. BAS have gone to the trouble to renew this tenement. This shows that they believe it is worth their trouble.
2. Vic/P41 should contain large potential drilling targets. Success in these types of targets are company makers.
3. We know that the Chinese have $$$ and are talking to BAS about their leases. Hmmm...I like the possibilites here.

If the drill bit is kind at Windermere (and given oil shows in 1987, the odds are better than usual wildcats), BAS might be heading for a possible re-rating.

Happily holding BAS at 2.6c ave

Following my BESBS (Buy Early Sell Before Spud) policy, I have finished selling out of BAS.

I like the chances of success at Windermere (as it is an appraisal more than a wildcat) and there is always the chance of a Chinese JV deal. Nonetheless, a failure or indecisive result at Windermere, in this market, won't be popular. Time to move on and take a profit. The old saying rules for me on this one - "you never go broke taking a profit."


Good luck to holders as this company does have potential with new management direction.


Bought ave. 2.6c
Sold ave. 3.3c

Profit 25%

Sad to see that Windermere turned out to be a dud. BAS needed some success and this would have been a small yet useful commercial income stream.

Unless the Chinese team come up with a great 'free carried' deal for BAS, it looks like a quiet time ahead.

On the positive, again the BESBS method came up profitable.

Until the next potential well of significance...

MC - $6.3m
SP - 1.6c
Shares - 388m
Options - 12m
Cash - $2.1

BASS CONSOLIDATES IT’S ONSHORE OTWAY BASIN PORTFOLIO WITH THE AWARD OF PEP 175, THE RENEWAL OF PEP 167 AND FARMING INTO PEP 150
· Bass awarded 100% equity in new onshore Otway exploration permit, PEP 175
· Bass renews exploration permit, PEP 167, for 5 more years with 100% equity
· Bass confirms Farmin Agreement signed with Somerton Energy (Cooper Energy) for 15% interest in PEP 150, which is about to be granted
· Bass now has a large acreage holding over the Victorian section of the Casterton unconventional shale play in the Onshore Otway Basin

Otway Basin onshore – PEP 167: BAS 100%
Exploration permit PEP 167 is located in the onshore Otway Basin, near Port Fairy, in western Victoria.
Interra Resources withdrew from the PEP 167 Joint Venture as of 30th June 2012. BAS accepted assignment of their interest. BAS now holds a 100% interest in the permit. The PEP 167 permit was renewed for a further 5 years as of 2nd July 2012.

Otway Basin onshore – PEP 150 (application area): BAS 15% (Operator: Beach Energy)
This area is located in the onshore Otway Basin, near Portland, in Western Victoria and contains the 1989 Lindon and 1995 Digby oil discoveries.
Grant of PEP 150 is contingent on entering into an agreement with native title claimants. The Operator has indicated that the principles of an agreement have been settled and it is expected that the agreement is signed later in the year leading to the expectation that the permit will be granted during 2012. During the quarter the farmin negotiations with Somerton Energy (now Cooper Energy) were completed in relation to assigning BAS’s a 15% interest and the related farmin documents hav been signed.

Gippsland Basin offshore – Vic/P41, BAS 45% and Operator
Permit Vic/P41 (539 square kilometres) is located in the east of the offshore Gippsland Basin, approximately 40 kilometres south of the Victorian coast. BAS maps extensions of the Kipper and BMG producing trends in its East Gippsland permits.
During the quarter work continued on preparing to acquire the Stanton 3D seismic survey (to be acquired jointly with the Vic/P66 Joint Venture). Tenders have been received and are currently being evaluated. An Environmental Plan is being prepared ready for submission to the necessary authorities. This work is aimed at acquiring the survey when a seismic vessel becomes available. The Vic/P41 joint venture is actively seeking farmin partners to fund and operate future exploration. The opportunity has attracted credible interest and while no offers have been received to date, evaluation and assessment is continuing.

Gippsland Basin offshore - Vic/P42, BAS 100%
Vic/P42 is located approximately 40 kilometres offshore and contains moderate water depths from 50 to 80 metres. Vic/P42 is located adjacent to Kingfish, Australia’s largest oil field, as well as to Bream and other producing Esso/BHP oil and gas fields. Existing non-producing gas and condensate discoveries within Vic/P42 at ZaneGrey and Omeo further underline the prospectivity of the area.
During the quarter work focussed on interpreting the prestack depth migrated 3D seismic volume which merges all 3D volumes over the permit. The interpretation will lead to an inversion of the data during the second half of 2012. The aim of this work is to facilitate determining the best prospect ahead of drilling.

Gippsland Basin offshore – Vic/P47, BAS 40% and Operator
Permit Vic/P47 is located in the offshore Gippsland Basin, approximately 10 kilometres offshore, south of the Victorian town of Orbost. Water depths range up to 80 metres. The permit contains the Judith and Moby gas discoveries. The Judith gas resource has been certified by Gaffney Cline & Associates (GCA) to hold 194 BCF (2C) and 934 BCF (3C) of recoverable Contingent Resources.
Both Judith and Moby are in close proximity to existing or planned infrastructure in adjacent licences. During the quarter BAS completed the interpretation of the simultaneous seismic inversions undertaken on the reprocessed Moby 3D seismic volume and 200 square kilometres of the Northern Fields 3D seismic survey. The work covered the Moby and Judith fields and assisted in delineating the field boundaries of the fields. The Vic/P47 joint venture is actively seeking farmin partners to fund and operate appraisal and development operations. The opportunity has attracted credible interest and while no offers have been received to date, evaluation and assessment is continuing.

Gippsland Basin offshore – Vic/P66, BAS 60% and Operator
Permit Vic/P66 (2160 square kilometres) is located adjacent to Vic/P66 in the east of the offshore Gippsland Basin, approximately 40 kilometres south of the Victorian coast. BAS maps extensions of the Kipper and BMG producing trends in its East Gippsland permits.
During the quarter work continued on preparing to acquire the Stanton 3D seismic survey (to be acquired jointly with the Vic/P41 Joint Venture). Tenders have been received and are currently being evaluated. An Environmental Plan is being prepared ready for submission to the necessary authorities. This work is aimed at acquiring the survey when a seismic vessel becomes available. Vic/P66 is also the subject of farmin reviews and has attracted credible interest. While no offers have been received to date, evaluation and assessment is continuing.

Gippsland Basin offshore – Vic/P68, BAS 100%
Permit Vic/P68 (1074 square kilometres) is located between Vic/P41 and Vic/P47 in the offshore Gippsland Basin, approximately 30 kilometres south of the Victorian coast. BAS maps extensions of the Kipper and Moby producing trends in this permit.
The permit was granted 4 May 2012 for a 6 year term. The Company is currently collating data over the area to allow integration with its interpretation of the surrounding permits. The acquisition of this permit now gives the Company one of the largest acreage holdings over the Rosedale Fault trend; the locus of the Kipper and Longtom fields and the two recent major ExxonMobil/BHPBilliton discoveries at Southeast Remora-1 and Southeast Longtom-1.

BAS-COE issues itself a get out of Jail Card

BAS announce a buy out of Cooper Energy(COE) stake in theTangai-Sukananti onshore field in South Sumatra, Indonesia, that is currently producing for COE approx 450 BOPD.
The buy out price is $5.7 M with a 500k upfront payment, a allocation of shares and 2.7M payment after 12 months and a further 2.7 M payable from what I gather is receivables received from the Oil revenue.
The company is expecting 'fee cash flow of apprx $100,000 to 150,000 AUD cash flow per month, so I assume that is after payments to COE.
So am guessing here but I think they expect to pay COE that 2.7M receivable after approx 10-12 months,if they can keep the flow rate for taht long.
I expect that they expect to have to raise the further 2.7M payable after 12 months which they should be able to , if the field is still producing those flow rates. That's a big IF though and add to that the prospects of needing Capital to explore further prospects, I am guessing this company will be back where it was in a few years from now, Broke and about to delist.
I think it's a win for COE as they were looking at writing the prospect of their 173 million shares of BAS being worthless.
With this transaction they save that investment by transferring a minor asset for them to BAS and will still reap the benefits of their stake in Tangai-Sukananti, only more immediately and with little risk.
I expect that they will find a way to exit BAS once they have been paid in full.
So is this a good deal for BAS holders? Yes, as it gives them hope and time to exit the stock with some cash and maybe even a profit, if the company can hype up it's prospects to new retail investors.
Is it a long term investment?
No, I don't think so, unless it get's very lucky! I think management will be tempted to squander its income on prospects noone else would touch.
All In MY opinion of Course

On March 7th, 2017, Bass Strait Oil Company Limited changed its name to Bass Oil Limited.

Is this company any good? Shares are 0.3 cents

Younga said:

Is this company any good? Shares are 0.3 cents

Click to expand...

With 2.83 Billion shares on issue, a market cap around only $8.5 million you would probably need to dig deep for any value.

Ok. Wanted to get an oil stock so I went with oel

not drilling; but plenty of 'potential'.

Bass Oil Limited (ASX:BAS) is pleased to confirm that, following the engagement of independent geological experts, Fluid Energy Consultants, it has identified a significant prospective resource that has the potential to materially grow the Company’s Australian operations in the Cooper Basin in South Australia.

The Deep Coal Gas Prospective Resource Report quantified the gas potential contained in PEL 182 (Bass 100%) in the Cooper Basin, South Australia at a “best estimate” of 21 TCF of gas in place along with accompanying 845 million barrels of condensate/oil in place.

Gas from deep coals, lying below 2500 metres, represent a new significant gas play in the Cooper Basin and potential new material source of gas for the domestic market.

- enough to move the dial during the week:

See if picking up a few BASO today for 7c was a mistake. 12c strike and expire in September 24’ so plenty of time for them to go to work for me!

From Stockhead:

Up sharply for an oil stock on this particular Friday is Bass Oil (ASX:BAS) which says it plans to kick off an Extended Production Test (EPT) at the Kiwi project “as soon as possible” to confirm the potential field size and gas composition.

“Bass has increased confidence that Kiwi contains a commercial volume of gas, providing the pathway for the company to enter the eastern states’ gas market,” it says.

Watch Bass Oil crew atm, some amazing potential presenting in the ST, and soooo undervalued on market currently, Options up 200% today, and directors buying recently on outcomes of Pep182 results, which have underlying 21TCF Nat Gas potential in the Cooper Basin, and BASS Oil Kiwi Tenements in Copper tenements starting a work up atm on tenements after rain delay.
I’ve been buying BASS oil for over 2 months, It’s been so tight to scrip, made a move on options today because I simply couldn’t get the numbers I wanted without moving the market.
Next week imo is going to be huge for BASS oil imo.
GLTAH it’s overdue this rerating 100m MCAP is warranted for BASS oil imo in the ST .

Trading Halt called today on BAS, Kiwi tenement update on progress Wednesday morning, BAS could easily see a 10cent SP on the back of this update, very very dynamic times for BAS currently, it’s time for a major re rating of Bass Oil SP relative to EV in tenements imo

Check this out Hey what a earner Bass Oil is on the Kiwi Update alone today, with many many more to come in the short term on Kiwi 1 and Pel182 , OMG my PF on Bass Oil has gone up by over $100k at one time today today, that’s one of the biggest ever single gain days I have ever had in a stock, and BAS is worth many multiples of current SP on its current EV potential.

And again today Bass Oil has showed its strength and tested 11 cents and closed on same today, my next target is 15 cents on BAS, having banked some very tidy profits today on a day trade in support of SP of BAS, ST target is 20 cents now on BAS.
GLTAH
Am I the only holder here LOL
Well if that’s the case it’s the best party I’ve ever been to on my own lol

I follow from far. BAS is not allowed to trade on saxo, which for me is a red flag..w
What it means is that it can jump high and low mostly due to push and pull news, in short manipulation.
It can be a great low volume day trade, and I get that but not for me