Ann: December Quarterly Activities Report & Appendix 5B, page-11

Essentially, this is the key point the market is missing or misunderstanding about Bass currently.....

Too much weight is being put on how much cash there is in the bank....cash in the bank, at this point of the trajectory, is a wasted growth opportunity for Bass. The DMO is set up in such a way that continually rolling CAPEX back through the project in the form of upgrades to production essentially heavily reduces the govt. take....like the old saying, you gotta spend money to make money.

It's about scaling the project to a point that you're comfortably growing and can weather any storm on the horizon....then the revenue really snowball's along and aquisitions come into play to rapidly expidite that strong growth phase....6-12 months of upgrading and optimising at Tangai, another well into Bunian and Bass will start to move forward in a big way imo.