Bass Oil Limited (ASX:BAS) Reports January Operations Update
Financial Performance
Total sales revenue for January was US$436,282 (A$700,854), a 2.9% increase compared to December.
Production Overview
The group’s daily oil production averaged 247 barrels per day (bopd) in January, with total monthly production reaching 7,644 barrels.
Cooper Basin Operations
Production from the Worrior and Padulla oilfields was 3,662 barrels in January, up 7%. Oil sales in the Cooper Basin totaled 2,639 barrels at an average price of A$127.53 per barrel.
Indonesian Operations
Indonesian oil production averaged 3,982 barrels in January, with 3,954 barrels sold at an average price of US$75.01 per barrel. Production at Tangai decreased by 5% due to a temporary shut-in for flowline repairs.
Gas Appraisal
The Kiwi Pressure Transient Analysis indicated a potential larger stratigraphic trapping mechanism. Bass has initiated a study to explore the Triassic gas potential around the Arrabury Trough.
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