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7.1¢ bass oil limited

Ann: Bass to Raise up to $4.0m to fund Cooper Basin Activities, page-44

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Perth Red

442 Posts.

57

07/06/22

09:39

Post #: 61858752
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Originally posted by frader: ↑

I don't believe management should have conducted a CR at this particular time.

I believe, they should have settled the acquisition of cooper interests (which they already did a raising for mind you) which would have resulted in a much higher share price, then conduct a CR...

HOWEVER....

Looking deeper into the Cooper acquisition, i do like what i see.

Bass will be making AUD$30 margin at a oil price of USD$80... Oil price is circa USD$115 presently which would mean Bass making an additional margin of circa AUD$45 taking their total margin to AUD$75 per barrel... thats pretty good.

Looking at production... worst case we produce 75 bopd profit of circa AUD$171k per month... or at potentially 500 bopd profit of circa AUD$1.140m per month....

Forget the indo assets, i wouldnt consider them for this calculation.

Although this story is taking its time to unfold.... i do see light... DYOR.

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Frader - Exactly what you wrote. Am unhappy with the timing of CR, but the long term potential upside is huge. Can't imagine any requirements for further CR's after this one, IMHO.

BAS Price at posting: 3.6¢ Sentiment: Hold Disclosure: Held
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Last 7.1¢		Change 0.003(4.41%)		Mkt cap ! $20.62M

Open	High	Low	Value	Volume
6.9¢	7.4¢	6.9¢	$38.16K	524.9K

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No.	Vol.	Price($)
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Price($)	Vol.	No.
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1	9000	0.065
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0.069	102	1
0.073	20000	1
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0.075	15000	1
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