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Bass Strait Oil Company -
ASX code BAS

Bass Strait Oil Company Limited (BAS) is engaged in exploration for oil and gas in onshore and offshore areas of south-eastern Australia.
BAS focuses on Windermere three dimensional (3D) surveys in the PEP 167 permit in the onshore Otway Basin.
Permit T/42P and T/43P cover approximately 6,120 square kilometers of the north coast of Tasmania.
Vic/P42 is located approximately 40 kilometers offshore and contains water depths from 50 to 80 meters.
It has 50% interest in PEP. Permits Vic/P41 and Vic/P66 are located adjacent to each other in the east of the offshore Gippsland Basin.
Vic/P41 contains a number of prospects defined on modern 3D seismic, notably Kipling, Benchley and Oscar.
Permit Vic/P47 is located in the offshore Gippsland Basin, approximately 14 kilometers offshore, south of the Victorian town of Orbost.
The permit contains the Judith and Moby gas discoveries.
 

Bass Strait Oil Company
Level 1, 99 William Street
MELBOURNE, VIC 3000
Australia
03-99273000 (Phone)
03-96146533 (Fax)
http://www.bassoil.com.au
Andrew Philip Whittle Chief Executive Officer, Managing Director, Non-Executive Independent Director
Terry White Chief Executive Officer 204.00K
Robyn M. Hamilton Company Secretary 89.00K
John Lachlan Charles McInnes Non-Executive Independent Chairman of the Board
David John Lindh Non-Executive Director

Dr. Steve I. Mackie was Chief Executive Officer and Exploration Manager at Bass Strait Oil Company Ltd until August 2012 and received an Honorary Life Membership of APPEA in 2014. Dr Mackie is adjunct at the Australian School of Petroleum University of Adelaide as well as Chairman of the Technical Programme Committee for the 2012 APPEA Conference. He is past President of PESA.

According to Macroaxis, BAS.AX has return on total asset (ROA) of 37.96% which means that it has lost $37.96 on every $100 spent on asset. This is way below average. Similarly, it shows return on equity (ROE) of 63.74% meaning that it generated substantial loss on money invested by shareholders.


Search the ASX website for company announcements from BAS


BAS 5 year chart, dated 18 November 2013.

September 04, 2013 - Bass Strait Oil Company Ltd (ASX:BAS) wishes to update the market in relation to the Farmin Agreements announced for the potential disposition of interests in Gippsland Basin permits Vic/P41 and Vic/P68 to Cooper Energy Limited (ASX:COE). The Farmin Agreements remain subject to a number of conditions, including Joint Venture approval and Government approval for Vic/P41 and Government approval should the Vic/P68 option be exercised.

Bass Strait Oil is pleased to inform the market that following the lapse of pre-emption rights held by Oil Basins Limited (ASX:OBL) and Strategic Energy Limited (ASX:SER) in Vic/P41, a Deed of Assignment and Assumption is currently being finalised and will be sent to the Joint Venture parties for their approval shortly. Subject to receiving approval from the Joint Venture parties, the Deed will then be sent to the Government for approval.

In addition to these conditions, the Farmin Agreements are subject to any applicable regulatory requirements under the Corporations Act and ASX Listing Rules for transactions of this nature.

Bass Strait Oil Company will keep the market informed of progress with these Farmin Agreements when appropriate.

 

 

 

 

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