Past year: ▲ 82%(3.30c – 6.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Jan 2011price query● Neutral
ASX queries a price rise from 3.1 to 3.8 cents on heavy volume. BAS says it knows of no undisclosed information and suggests the market may be recognising Windermere, where drilling is planned for the second quarter of 2011.
13 Jan 2011other● Neutral
Document titled Constitution is actually the company's share trading policy, setting rules for directors and employees dealing in shares. Administrative, with no new information about operations or finances.
8 Dec 2010agm notice● Neutral
Directors withdraw the sole resolution for the general meeting set for 14 December 2010, so the meeting is cancelled. No reason is given in the notice.
29 Nov 2010joint venture update● Neutral
Partner Interra's release repeats the decision to drill Windermere in the second quarter of 2011, subject to local government approval, and says the 3D confirms closure at reservoir level. No new information beyond BAS's release.
29 Nov 2010drilling scheduled▲ GoodMajor
The PEP 167 joint venture (BAS 50% operator, Interra 50%) agrees to drill a new well near the 1987 Windermere-1 oil discovery, targeting the second quarter of 2011, subject to approvals. This resolves the open drilling decision after the 3D survey.
5 Nov 2010quarterly activities report● Neutral
Amended September 2010 quarter cash report. Cash fell from $3.697 million to $3.426 million; next quarter's outflows are estimated at $250,000. No debt. Administrative cash statement, no new project information.
3 Nov 2010agm notice● Neutral
Chairman's AGM address. Says early 3D results give considerable confidence in a case to drill Windermere. Repeats that a low share price, with about $3.5 million of cash being nearly half the market value, restricts corporate deals. No new information.
3 Nov 2010investor presentation● Neutral
AGM presentation restating permit interests, the FY10 raising of $4,067,379 and Windermere status, with final mapping due in the fourth quarter. Cash is about $3.4 million, market capitalisation about $8 million, 291,030,250 shares. No new results.
27 Oct 2010quarterly activities report● Neutral
September 2010 quarter: preliminary Windermere mapping supports oil potential, with final mapping and drilling options to be reviewed in the fourth quarter and possible 2011 drilling. Vic/P41 seismic inversion and basin modelling continue; a Vic/P41 commitment variation was applied for. Farminee talks continue.
4 Oct 2010annual report● Neutral
Printed 2010 annual report with the chairman's letter. Early 3D results broadly support oil potential at Windermere, possibly drilling in 2011. He says a share price near 2.5 cents (market value about $7 million) makes accretive corporate deals difficult. Largely repeats known facts.
14 Sept 2010annual report● Neutral
Annual financial report for year to 30 June 2010. Recaps the $4 million raising, the Interra-funded Windermere 3D survey (processing finished August 2010) and permit renewals. Interpretation continues ahead of a possible drilling decision later this year. No new results.
8 Sept 2010investor presentation● Neutral
Good Oil conference presentation repeating the preliminary Windermere mapping showing closure at reservoir level, with mapping to finish in the fourth quarter. Cash is about $3.5 million and market capitalisation about $7 million. No new results.
7 Sept 2010joint venture update● Neutral
Partner Interra's release repeats that Windermere 3D processing is finished and preliminary mapping broadly supports the oil case, with possible drilling in 2011. No new information beyond BAS's release.
6 Sept 2010drilling result▲ GoodMajor
Preliminary 3D mapping confirms a significant structure at Windermere-1 reservoir level, broadly supporting the oil case, with possible extra leads nearby. The joint venture will review drilling options in the fourth quarter; drilling could follow in 2011. The reservoir is about 1800m deep.
30 Aug 2010director officer appointment● Neutral
Dr Steve Mackie is appointed Exploration Manager, replacing Dr Keith Jackson after three years. BAS says it is starting a new phase of activity expected to include Windermere drilling and Gippsland seismic acquisition.
2 Aug 2010admin correction● Neutral
Amended quarterly cash report replaces the 29 July version, only adding estimated administration outflows for next quarter. Cash at 30 June was $3.697 million; next quarter's outflows are estimated at $400,000, of which $150,000 is exploration.
29 July 2010quarterly activities report● Neutral
June 2010 quarter: Windermere processing slipped to early August, with early results described as encouraging and a drilling decision possible later this year. Seismic inversion and basin modelling studies started on Vic/P41 and Vic/P66. Farmout talks continue.
13 July 2010investor presentation● Neutral
Resources Victoria presentation restating known permit interests and Windermere status. Cash is about $3.6 million and market capitalisation about $8 million, down from $10 million in April. Unlisted options fell to 2.1 million. No new results.
4 May 2010joint venture update● Neutral
Oil Basins Limited announces it was appointed agent to manage the Vic/P41 farm-out for the joint venture. The permit's Year 4 well commitment has been moved to September 2011. This formalises the marketing push noted in BAS's quarterly report.
30 Apr 2010quarterly activities report● Neutral
March 2010 quarter: Windermere 3D recording finished in early April, with processing due mid-year. Oil Basins Limited was appointed agent to find a farminee for Vic/P41, and Vic/P47 farmin talks continue. BAS says the SE Remora-1 discovery by ExxonMobil and BHP Billiton helps both permits.
21 Apr 2010investor presentation● Neutral
Conference presentation restating the portfolio, Windermere survey completion and Judith and Vic/P41 prospect figures. Cash is about $3.8 million, market capitalisation about $10 million, 291,030,250 shares. No new results.
14 Apr 2010drilling progress report▲ Good
Windermere 3D recording is complete. Processing is due by about mid-year, with interpretation in the second half of 2010. A positive result could lead to drilling within a year. Interra funds the survey up to $1.75 million.
23 Mar 2010joint venture update● Neutral
Partner Interra's release repeats that Windermere 3D recording has started, covering 41 sq km over about two weeks. No new information beyond BAS's release.
22 Mar 2010drilling progress report▲ Good
Recording of the 41 sq km Windermere 3D survey in PEP 167 began, taking about two weeks. It follows the earlier rain delay. A successful survey could lead to appraisal drilling of the 1987 oil discovery within a year.
5 Mar 2010half year report● Neutral
Half-year to 31 December 2009 shows a net loss of $331,160, against $367,902 a year earlier. The report highlights the rights issue and placement, the Interra farmin and two permit renewals as leaving the company in a stronger position.
2 Mar 2010joint venture update● Neutral
Partner Interra's release repeats the Windermere 3D delay: recording is now due late March 2010 because heavy rains in central Australia stopped the contractor recovering its equipment. No new information beyond BAS's release.
2 Mar 2010drilling progress report▼ Bad
Windermere 3D field work began in February, with surveying substantially complete and up-hole drilling finished. Recording is delayed to late March because heavy rain in central Australia held up the contractor's equipment. The survey should now finish in early April 2010.
29 Jan 2010quarterly activities report● Neutral
December 2009 quarterly reports completion of the Interra farmin (BAS now 50% of PEP 167), with the Windermere 3D survey due in February 2010. The Vic/P47 renewal is granted, and T/42P and T/43P commitments were varied to allow more prospect assessment before any drilling.
19 Jan 2010price query● Neutral
ASX queried a rise from 3.8 to 5.3 cents with higher volumes. BAS says it knows of no undisclosed information and expects no material change in half-year results. It suggests the market may be recognising value in Judith and the coming Windermere survey.
24 Dec 2009farm in farm out completion▲ GoodMajor
Government approval received and the Interra farmin completed: 50% of PEP 167 is transferred to Interra, which paid BAS $250,000 and funds the 3D survey up to $1.75 million. BAS keeps 50% and operatorship. Survey start slips to February 2010.
