Bass Oil reports half-year profit of $0.3M

• Bass Oil posted a net profit after tax of $0.3 million for the half-year ended June 30.
• The energy producer delivered earnings before interest, taxes, depreciation, and amortisation of $1 million, up 80% from $0.6 million in the previous period.
• The profit recovery was driven by disciplined cost management, stable operations, and improved realised pricing across its Australian and Indonesian portfolios.

Bass Oil (ASX:BAS) returned to profitability in the first half of 2026 with a net profit after tax of $0.3 million.

The performance represents a significant turnaround from the $0.1 million net loss reported in the prior corresponding period.

Managing Director, Mr Tino Guglielmo, commented, "Completing the Vanessa acquisition, advancing Kiwi with government support, and de-livering Bunian-6 safely and successfully all demonstrate the momentum building across our portfolio."

Sales revenue increased slightly to $3.8 million compared to $3.7 million in the previous half-year, while cash balance grew to $3.2 million.

The company stated that this improved financial result provides a solid foundation as it advances multiple near-term growth projects.

Following the announcement, the Bass Oil share price was up at $0.065.

During the period, Bass completed the acquisition of the Vanessa Gas Field to gain direct exposure to the East Coast Gas Market.

The producer also commenced drilling at its Bunian 6 oil development well in Indonesia, which delivered operational results above expectations.