BassOil Limited Reports Strong Oil Production and Revenue in June Bass Oil Limited

BassOil Limited Reports Strong Oil Production and Revenue in June

BassOil Limited (ASX:BAS), an Australian-listed oil producer, has released its operations update for the month of June. The company, which holds a majority interest in eight permits in the Cooper Basin (Australia) and a 55% interest in a South Sumatra Basin (Indonesia) KSO, continues to demonstrate its commitment to value creation through its team, operations capability, reputation, and relationships in both Australia and Indonesia.

June Highlights

Total sales revenue for June amounted to US$443,649 net to Bass (equivalent to A$669,154).

Average daily oil production reached 323 barrels of oil per day (bopd) in June 2023.
Cooper Basin monthly production totaled 3,444 barrels, with 2,174 barrels sold at an average oil price of A$110. 91 per barrel.

Indonesian oil production amounted to 6,245 barrels net to Bass, with 5,814 barrels sold at an average oil price of US$68.

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33 per barrel.

Future Opportunities

BassOil is proactively looking to enhance its production capabilities further. The company is currently in the process of transporting the second Worrior pump to the field, aiming to install and commission it in late July. This development will provide BassOil with additional opportunities to increase field production and drive continued growth.

Debt-Free and Focused on Value Creation

One of BassOil's notable strengths is its debt-free status, allowing it to focus on creating value for its shareholders. By leveraging its team, operational expertise, reputation, and strong relationships, BassOil remains dedicated to maximising its competitive advantage and delivering long-term value.

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