Past year: ▲ 82%(3.30c – 6.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
26 Aug 2024security holder rights change● Neutral
Reminder to holders of 132.34m BASO options that they expire 30 September 2024 at A$0.12 each, unless exercised. The share price was A$0.078 on 23 August, below the exercise price. Not underwritten. Quotation ceases 24 September.
15 Aug 2024production update▲ Good
July output averaged 298 bopd (Bass share), up 13%; sales US$543,218. Indonesian field output is up about 50% to over 450 bopd after the workover campaign. Second Worrior pump trial lifted output 6%. Kiwi 1 rig due about 18 August; PEL 182 study is in its final phase.
12 Aug 2024admin correction● Neutral
Correction to the earlier release: the Kiwi 1 completion start date should read 18 August, not 18 October. Nothing else in the announcement changed.
12 Aug 2024drilling scheduled▲ Good
Wild Desert Rig 10 was mobilising to Kiwi 1, with well completion stated to start on or about 18 October (a typo later corrected to 18 August) and take about 7 days. The test was to run a 14-day flow and a pressure build-up of up to 60 days.
12 July 2024production update● Neutral
June output averaged 264 bopd (Bass share), up 2%; sales US$493,472. Fresh rain on 1 and 7 July again delayed the Kiwi 1 rig, now not expected until early August. Bunian 5 is back on pump, lifting Indonesian field output to 325 bopd (180 Bass share).
26 June 2024drilling scheduled● Neutral
Kiwi 1 earthworks are due to finish by 30 June. Wild Desert Rig 10 is contracted for the completion, expected mid-July after release by another operator, taking 7-10 working days. The test follows. Rig timing has moved from the earlier June slot.
12 June 2024production update● Neutral
May output averaged 251 bopd (Bass share), up 1%; sales were US$555,853, up 59% as Cooper deliveries resumed after April's road closures. Bunian 5 repair finished and the well is returning to production. Kiwi 1 earthworks briefly paused by rain; PEL 182 study results now guided July.
29 May 2024drilling scheduled▲ Good
Earthworks to repair the Kiwi 1 road and prepare the wellsite have started, due to finish around 13 June; the rig slot will be confirmed afterwards. All test equipment has been delivered. This follows months of rain delays, which the managing director acknowledged as frustrating.
21 May 2024investor presentation● Neutral
AGM presentation largely repeats known facts: about A$1.5m raised, 290.4m shares, market cap A$19.7m. Kiwi timeline now slips: rig in June, test complete end July 2024. SLB geomechanical results due June, resource assessment October (earlier guided end-September).
17 May 2024production update● Neutral
April output averaged 253 bopd (Bass share), up 2%; sales US$349,473 as rain-related road closures cut Cooper oil sales by 51%. Kiwi 1 test still waits on road repairs. SLB has started the PEL 182 geomechanical study; Bunian 5 repair still expected June.
15 May 2024capital raising announcement● NeutralMajor
The SPP raised only A$442,598 (6.32m shares at A$0.07), well short of the A$2.0m target. Combined with the placement, total proceeds are about A$1.54m to fund Kiwi 1 and PEL 182 work.
What it means for a shareholder
6.3m new shares at A$0.070 to raise about A$442,598. That's 2.2% dilution: every existing holder's slice gets 2.2% smaller. If you held A$1,000 of shares (14,286 at the issue price), your slice goes from 0.00503% to 0.00492% of the company. To keep it you'd need 318 more shares - about A$22 at the issue price.
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8 May 2024capital raising announcement● Neutral
Reminder that the Share Purchase Plan closes on 10 May 2024 at A$0.07 per share, up to A$30,000 per holder. Administrative; no new information.
24 Apr 2024investor presentation● Neutral
Invitation to an investor webinar on 30 April 2024 where the managing director will discuss the capital raise and use of proceeds: the Kiwi 1 test, PEL 182 studies and oil projects. Administrative notice with no new information.
23 Apr 2024capital raising announcement● Neutral
Letter opening the Share Purchase Plan for eligible Australian and New Zealand holders: up to A$30,000 each at A$0.07, targeting A$2.0m, not underwritten. Open 23 April to 10 May 2024; results due 15 May. Implements the SPP announced on 19 April.
23 Apr 2024investor presentation● Neutral
Capital raising presentation supporting the A$0.07 placement and SPP. Based on the visible text, it is disclaimers and repeats the previously announced raising; no new figures are visible in the provided text.
22 Apr 2024production update● Neutral
March output averaged 240 bopd (Bass share), up 16%; sales were US$442,081, up 25%. Cooper held at 98 bopd with no downtime after February's wireline work. Bunian 5 repair still awaits a May rig, return in June; Kiwi 1 test awaits road repairs.
19 Apr 2024capital raising announcement● NeutralMajor
Bass raised A$1.1m through a placement of 15.71m shares at A$0.07, mostly to one Tier 1 institutional resources investor, and will offer an SPP of up to A$2.0m at the same price. Funds go to PEL 182 studies, the Kiwi 1 test and oil development.
What it means for a shareholder
15.7m new shares at A$0.070 to raise about A$1.1m. That's 5.5% dilution: every existing holder's slice gets 5.5% smaller. If you held A$1,000 of shares (14,286 at the issue price), your slice goes from 0.00532% to 0.00503% of the company. To keep it you'd need 836 more shares - about A$59 at the issue price.
Create a free account to see this worked out for your own holding.
19 Apr 2024capital raising announcement● Neutral
Revised re-release of the same announcement: A$1.1m placement at A$0.07 (15.71m shares) and an SPP of up to A$2.0m. Adds footnote references to earlier announcements; the terms appear unchanged. Not a new raising.
18 Apr 2024contract award▲ GoodMajor
Bass formally engaged SLB to study commercialising the PEL 182 deep coal gas (21 TCF gas in place estimate). Geomechanical results are due mid-year and a resource assessment by end-September. This turns the study scoped since late 2023 into active work.
27 Mar 2024annual report▲ GoodMajor
FY2023 result: record revenue US$6.56m (up 14.6%) and net profit US$0.27m, versus US$43k a year earlier. Cash fell to US$0.93m, debt free. Focus for 2024 is entering the east coast gas market via Kiwi and PEL 182; a new Tyrell oil prospect is under evaluation.
27 Mar 2024annual report▲ Good
2023 annual report: record revenue of US$6.56m and net profit of US$0.27m, with net entitlement oil up 34% to 77,090 barrels. Chairman Hector Gordon says Bass aims to become a mid-tier oil and gas producer. Repeats the results announced the same day.
27 Mar 2024production update▼ Bad
February output averaged 221 bopd (Bass share); sales fell 28.7% to US$353,647. Indonesia dropped 34% after Bunian 3 was shut in for a flowline leak, and Bunian 5 repair now slips to a May rig, return in June. Cooper wireline work aims for over 100 bopd.
27 Mar 2024annual report● Neutral
Appendix 4G for the year to 31 December 2023, pointing to the corporate governance statement on the company website. Administrative filing with no new operational or financial information.
22 Mar 2024drilling scheduled▲ GoodMajor
Bass will start the Kiwi 1 extended production test once road access is restored. Approvals and equipment are in hand; the Wild Desert Rig 4 is expected on site around end April, with results within 60 days. Kiwi's 2C is 5.24 bcf; gas buyers have made enquiries.
15 Mar 2024resource reserve update▲ GoodMajor
Year-end 2P reserves rose 17% to 0.805 million barrels (Australia 0.366, Indonesia 0.439), mainly from the KSO extension moving Indonesian resources into reserves. 2C contingent resources are 1.229 million barrels, with Cooper 2C up 110% as Kiwi gas is booked for the first time.
21 Feb 2024production update▼ Bad
January output averaged 279 bopd (Bass share), down 8.8%; sales US$496,255. All regulatory approvals for the Kiwi 1 test are received, but heavy rain (over 180mm) has delayed field works with no new date. Bunian 5 stays offline until a rig arrives, expected in March.
17 Jan 2024production update▼ Bad
December output averaged 306 bopd (Bass share), down 8.3%; sales US$508,613, down 9.6%. Bunian 5 workover found heavy scale in the well and the rig was released pending extra equipment. Kiwi 1 test slips to late February 2024 after 65mm of rain.
18 Dec 2023production update▼ Bad
November output averaged 334 bopd (Bass share), down 10.2%; sales US$562,537, down 18% on lower prices and output. Cooper fell 12% to 108 bopd on pump wear and Indonesia declined. Kiwi 1 test now not expected before late January 2024; PEL 182 study is due late Q1 2024.
15 Dec 2023director officer appointment● NeutralMajor
Chairman Peter Mullins retired after nine years, and director Hector Gordon (Cooper Energy's representative) becomes Chairman. Laura Reed, former Spark Infrastructure CEO, joins as non-executive director and Audit and Risk Committee chair from 18 December 2023.
16 Nov 2023production update● Neutral
October output averaged 372 bopd (Bass share); sales steady at US$689,005. Cooper rose 13% to 123 bopd with record monthly sales, while Indonesia fell on Bunian 5 performance. Kiwi 1 approval documents were lodged and Bass is scoping a PEL 182 deep coal gas study with a global oil service company.
