***Structure*** BAS 295m shares @ 3.3c = $9.75m mkt cap
Cash $4m+ So cashed up and seems to be farming out expensive exploration work
***Management*** Andrew Adams former Amoco and Santos executive Dr Henry Askin former Shell exploration manager & chairman CTP Dr Keith Jackson former Shell exploration manager Stephen Tomlin former technical advisor Santos and NXS G Albers holds 24% of the stock and is a big player behind the scenes just look at MOG
Stephen Tomlins experience at NXS particularly Longtom will come in handy for BAS and its plans at Judith
***Energy Leases*** -Vic P47 BAS 40% and operator The Jewel in BAS's crown located just 10kms away from NXS now producing Longtom field and 5-10kms from Santos Patricia Ballen field (Longtom ties into this) and immediately north of BHP/Esso/Santos's Kipper Field = development and production options are plenty
Judith has recently had a certified gas resource of 312bcf- 1.7Tcf gas
-Vic P41 BAS 45% and operator Targets at P50 Benchley 184M bls of oil + 1.4Tcf Gas Oscar 40M bls of oil Kipling 124M bls of oil + 620 Bcf Gas
-Vic P66 and 42 BAS 60%/100% and operator Needs more work, seismic etc
-T/42P & T/43P Bass Basin BAS 100% and Operator Needs more work and seismic etc
- PEP 167 Onshore Otway Basin BAS 50% and operator Singaporean ITR farmed in for 50% by paying $2m in siesmic and other costs, contains the Windermere 1 oil discovery
-PEP 150 Onshore Otway15% and operator ITR farming in here to subject to meeting exploration costs
Undoubtedly the Jewel in BAS's crown is Vic P47 and in particular Judith see the images below that show Vic P47 and Judith surrounded by all the majors producing fields as well as Judith's Gas Certification
BAS Price at posting:
3.4¢ Sentiment: LT Buy Disclosure: Held
