Past year: ▲ 82%(3.30c – 6.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 May 2025security holder rights change● Neutral
Target market determination for the options attached to the rights issue (A$0.05 exercise, expiring 31 May 2028). A regulatory document; it also allows options to be placed with investors in any shortfall. No new commercial facts.
15 May 2025admin correction● Neutral
Re-release of the AGM presentation adding a Competent Person statement and a cautionary statement for prospective resources. No new substance.
15 May 2025investor presentation● Neutral
May 2025 AGM presentation, 'An Emerging Australian Gas Producer'. Visible text is only the disclaimer, so no new facts can be drawn. It presumably repeats the Vanessa and rights issue news already released.
14 May 2025asset acquisition disposition▲ GoodMajor
Bass will buy 100% of the Vanessa gas field (PPL 268 and PRL 135) from Beach Energy, with a shut-in well, processing plant and 5 km pipeline, subject to regulatory approval. It raises up to A$3.1m at A$0.032 per share (1-for-3 entitlement offer, free options at A$0.05). This is Bass's route to first gas sales.
14 May 2025capital raising announcement● Neutral
Prospectus for the 1-for-3 non-renounceable rights issue at A$0.032 per share, raising up to about A$3.1m, with one free option (A$0.05, expiring 31 May 2028) per two shares taken up. Closes 13 June 2025. Funds the Vanessa deal and growth; non-participating holders are diluted.
22 Apr 2025production update● Neutral
March output averaged 221 bopd (Bass share), down from 239 in February; sales A$567,784 (US$356,568). Worrior still runs on one pump. Kiwi FEED engineer selected; Dundinna 3D reprocessing bids under review. Bunian 6 still awaits a Pertamina EP rig slot.
28 Mar 2025resource reserve update▲ GoodMajor
At 31 December 2024, 2P reserves were 0.789 million barrels, largely unchanged. Cooper Basin 2C contingent resources rose 52% to 1.735 million boe because of Kiwi's high condensate yield; Kiwi alone is 1.178 million boe (up from 1.016 million in November).
28 Mar 2025admin correction● Neutral
Appendix 4G corporate governance key for FY2024, lodged with the annual report; the governance statement is on the company website. Administrative filing with no new business facts.
28 Mar 2025annual report● Neutral
FY2024 annual report: revenue A$5.71m, EBITDA A$0.57m (10% margin, below target) on 68,860 barrels net entitlement. Revenue fell 12.9% on lower price and output. Kiwi-1 flow test is called a proven gas discovery; Bass reiterates its mid-tier producer goal.
21 Mar 2025production update▼ Bad
February output averaged 239 bopd (Bass share); sales US$391,129. The engine on the second Worrior pump failed and has gone for repair, so Worrior runs on one pump again. Bunian 6 is delayed by rig availability; Bass is talking to Pertamina EP about a rig slot.
19 Mar 2025investor presentation● Neutral
March 2025 investor update, 'An Emerging Australian Gas Producer'. The visible text is only the disclaimer, so no new facts can be drawn. It presumably repeats the Kiwi and PEL 182 updates already released.
5 Mar 2025contract award▲ Good
Bass sold 718 barrels of Kiwi test condensate to a local refinery for A$59,000, with funds due in March. This is the first sale from Kiwi, a small amount that follows the earlier work towards a path to market.
17 Feb 2025production update● Neutral
January output averaged 247 bopd (Bass share), steady; sales US$436,282. A sale of the ~800 bbl Kiwi condensate is secured, with lifting in mid-February. FEED proposals are expected in February. The Bunian 6 spud date still depends on rig availability.
10 Feb 2025regulatory community update▲ GoodMajor
Bass will study the wider Triassic gas play around the Arrabury Trough, where it holds 100% of several licences, and plans to reprocess 3D seismic. Kiwi 2C is 3.6 bcf gas and 416,000 bbl condensate. FEED has started; FID is targeted for 2025.
20 Jan 2025production update● Neutral
December output averaged 247 bopd (Bass share), up 5%; sales US$424,007. Kiwi pressure analysis is complete, with no measurable depletion and a possible larger Triassic gas play. Bass is in advanced talks to sell ~800 bbl of condensate and seeking FEED proposals. PEL 182 phase 2 results are due 2H 2025.
17 Dec 2024production update● Neutral
November output averaged 236 bopd (Bass share), down from 263; sales US$372,386. Kiwi pressure analysis shows no measurable depletion during the test. Padulla was down for pump repairs, offset by the second Worrior pump returning. Bunian 6 pad is complete; no spud date yet.
21 Nov 2024production update● Neutral
October output averaged 263 bopd (Bass share), down from 324 in September; sales US$455,195. Kiwi 1 pressure gauges were retrieved and analysis has begun. SLB and Bass finalised the PEL 182 phase 2 scope. Bunian 5 went offline with a suspected pump failure.
14 Nov 2024admin correction● Neutral
Re-release of the November investor presentation. Page 8 now includes the 1C low-estimate case, and a reference to the 8 November Kiwi announcement was added. No new substance.
13 Nov 2024investor presentation● Neutral
November non-deal roadshow presentation titled 'An Emerging Australian Gas Producer'. The visible text is only the disclaimer, so no new facts can be drawn. It presumably repeats the Kiwi 1 results already released.
8 Nov 2024resource reserve update▲ GoodMajor
Amended Kiwi release: the mean case is replaced by 2C and 3C cases. After-tax NPV (10%) is A$24m at 2C, A$73.5m at 3C and A$2.8m at 1C, on A$16m capex. The 2C was raised from 0.601 to 1.016 million boe on the lab results. This supersedes the A$36m figure.
6 Nov 2024resource reserve update▲ GoodMajor
Kiwi 1 screening economics gave an after-tax NPV of A$36m on a mean case, with a 2C of 1.016 million boe. Bass has started working towards a final investment decision and is looking at off-balance-sheet funding. This was amended two days later, with the mean case removed.
17 Oct 2024production update● Neutral
September output averaged 324 bopd (Bass share), down from August's 359; sales US$490,958. Kiwi 1 remains shut in; gauges are due out this month, and over 800 barrels of condensate are stored for sale. The second Worrior pump is now due back in November, later than earlier guidance.
30 Sept 2024other● Neutral
Links to a video Q&A with the Managing Director and a news article from the RIU conference, covering Kiwi 1 and PEL 182. Media coverage only; no new information about the company.
18 Sept 2024investor presentation● Neutral
Presentation for the RIU Good Oil Conference in Perth, 17-18 September. The visible text is only the disclaimer, so no new facts can be drawn. It appears to repeat the Kiwi 1 and PEL 182 updates already released.
16 Sept 2024resource reserve update▲ Good
Phase 1 of SLB's PEL 182 deep coal study is finished. The earth model shows a favourable stress setting, so Bass moves to a phase 2 economic assessment led by SLB. The Rapid Resource Assessment is no longer seen as critical. Santos supplied calibration data in exchange for access to the model. No new resource figure.
11 Sept 2024production update▲ Good
August output averaged 359 bopd (Bass share), up 20%; sales US$671,500, up 24%. Indonesian output rose 35% after Bunian 3 clean-up. Bunian 6 now expected to spud December 2024 (previously 2H 2024). Kiwi 1 is shut in for pressure build-up; PEL 182 study nearing its end.
2 Sept 2024flow test result▲ GoodMajor
Kiwi 1 flow period ended early because condensate storage ran out; the well is shut in for a pressure build-up of up to 20 days. Condensate yield is 235 bbl/mmscf, over 10 times expected, with 5% CO2. Bass is weighing early condensate sales.
30 Aug 2024half year report▼ Bad
First-half 2024 sales were US$2.69m, down 6.5%; production fell 20.5% to about 45,600 barrels. EBITDA was US$242k and the net loss US$242k (versus US$120k loss). Cash US$1.66m, no debt, after the roughly US$1.0m raising.
27 Aug 2024flow test result▲ GoodMajor
Kiwi 1, drilled in 2003, flowed 4.1 mmcfd of gas plus 988 barrels of condensate a day in its extended test, with low CO2 (4.5%) and no H2S. Condensate yield beat expectations; storage limits capped rates. Early positive result for the gas project.
26 Aug 2024other● Neutral
ASX paused trading in Bass shares pending a further announcement. No reason is given in the notice. (Inference: the pause likely precedes the Kiwi 1 test results released next day.)
