Bass Oil October production rises 28% to 13,146 barrels
Key points
- Bass Oil reported October sales revenue of $1.8 million up 8.3%, alongside a 28% jump in monthly oil production to 13,146 barrels.
- The company's Indonesian operations drove the volume increase, with output climbing 37% to 10,726 barrels at an average price of US$113.30 per barrel.
- Management is advancing a 2027 follow-up drilling programme at Bunian 6 and continuing mechanical works to restart the Vanessa gas field.
Bass Oil (ASX:BAS) recorded a 28% increase in monthly oil production to 13,146 barrels in October, lifting net sales revenue by 8.3% to $1.8 million.
The October result builds on September’s output of 10,280 barrels, following the start-up of the Bunian 6 well in Indonesia on Sept. 23.
Bass Managing Director Tino Guglielmo commented, “Group production and cash flow again materially increased in October with the backdrop of continued high oil prices. Increased production is boosting revenues and free cash flow and will materially improve the company’s annual results.”
Indonesian production rose 37% to 10,726 barrels, with 10,403 barrels sold at an average price of US$113.30 per barrel.
In Australia's Cooper Basin, the company produced 2,420 barrels and sold 1,559 barrels at an average realised price of $180.52 per barrel.
Following the announcement, the Bass Oil share price was unchanged at $0.05.
Bass Oil operates as a debt-free oil producer, holding a 55% interest in an Indonesian operation and majority stakes across 16 Cooper Basin permits.
The company is currently updating its reserves, planning a 2027 drilling programme at Bunian, and progressing with mechanical works to recommission its Vanessa gas field.
