Bass Oil Ltd (AU:BAS) has released an update.
Bass Oil Ltd reported a 22% increase in cash balance to US$1.14 million for Q1 FY24, despite a 27.6% decrease in production due to operational downtime in Indonesia. Sales revenue saw a drop to US$1.29 million with an average oil price at US$81.48 per barrel. Strategic growth efforts continue with the Kiwi 1 EPT and a commercialisation study for gas extraction from the PEL 182 deep coals.
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