Bass Oil completed a strategic placement, securing $1.1 million at 7 cents per share, predominantly supported by a Tier 1 Australian institutional investor.

The capital injection aims to expedite commercialisation efforts and growth initiatives in the Cooper Basin, focusing on projects like PEL 182 Deep Coal Seam Gas Play and Kiwi-1 extended production test.

Bass Oil intends to offer its shareholders a share purchase plan with a target of raising up to an additional $2 million at the same share price.

The raised capital will fund technical assessments and pursue high-value oil development opportunities.