Bass Oil posts $561,477 monthly revenue
- Bass Oil reported June total sales revenue of $561,477 net to the business, supported by group monthly production of 6,746 barrels.
- The company's share price remained unchanged at $0.05 following the release of the operational update.
- Growth was driven by a 3% increase in daily group oil production alongside the progression of key drilling and recommissioning initiatives.
Bass Oil (ASX:BAS) recorded net total sales revenue of $561,477 for the month of June as daily group oil production rose 3% to average 225 barrels of oil per day.
The result reflects steady operational performance compared to prior months, with group oil production reaching 6,746 barrels and total monthly sales totalling 6,400 barrels.
"Bass Oil is debt free and committed to creating shareholder value," the company stated.
Indonesian operations generated 4,219 barrels net to the company at an average price of US$116.58 per barrel.
Engineering work is currently underway to recommission the Vanessa facility, and drilling at the Bunian 6 development well is scheduled to bring additional volume online by late August.
Following the announcement, the Bass Oil share price was unchanged at $0.05.
The Australian-listed producer holds a majority interest in 14 permits across the Cooper Basin, including full ownership of the Worrior and Padulla oil fields.
In addition to its domestic assets, the company retains a 55% operating interest in an Indonesian KSO alongside ongoing seismic data reprocessing for the Kiwi Gas Project.
