Bass Strait Oil Company (BAS)

Shares / Stock Code

BAS

Stock Exchange / Sharemarket

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Bass Strait Oil Company Ltd (BAS) is an Australia-based company engaged in gas and oil exploration. BAS was listed on the Australian Stock Exchange on the 30th of September 2004. Its average annual revenue reaches approximately AUD$0.6 million. Its headquarters is located in Melbourne, Australia and to date; around 8 people are employed in the company. Bass Strait Oil Company Ltd operates mainly in one business segment: The Petroleum exploration.

Currently, BAS operates three offshore petroleum exploration permits: Gippsland, Bass Basin and Otway. Aside from that, the company has also drilled three more exploration wells in Gippsland Basin plus another one from the third party. These exploration wells include VIC/P42 (BAS 50% and operator), VIC/P41 (BAS 45% and operator), Otway Basin Onshore (BAS to farm-in to earn 25% in PEP 151 with option to earn 20% in PEP 150), VIC/P47 (BAS 40% and operator), TL/1 (BAS 0.0648% over-riding royalty), PEP 151 / PEP 150.

The Bass Strait Acreage was also built by BAS for the maintenance and renewal of its short and medium term portfolio. Part of the company's objective is to establish a program for the Australian production and exploration at the same time, by utilising the existing market and infrastructure of the Southeastern Australia, the company aims to minimise its discovery to production time

Bass Strait Oil (BAS) Company History

Bass Strait Oil company, an Australia-wide oil and gas explorer began its activity in 1982. The company had a 50% joint prospect and was listed on the Australian Stock Exchange in 2004. 72 million new shares were issued and it brought about AUD$14.4 million worth of funds.

The company decided to gain a 25% interest in PEP151 through its participation in the Pritchard-I well. It was granted with 100% interest by Essential Petroleum Resources in the onshore Victoria Otway Basin in 2005.

In December 2006, Robert Flew handed over his resignation to the board of Bass Strait Oil Company. In March 2007, John Nethersole became the Company Secretary. Marie 3D seismic survey in Gippsland basin permit Vic/P42 was actualized by the Company in April 2007. October 2007 marked the change of the company’s registered office.