I only recently bought into BAS. I made some money on BAS years...

I only recently bought into BAS. I made some money on BAS years ago when it was doing the Bass Straight drilling. It was 60/70 cents then.

I bought into BAS because they were producing oil and were drilling a ‘sure’ thing. The area is covered by 3D and the company has a MC of $5/6 Million. I hope to buy more on the announcement that they are producing another 700 bod. The Indonesian regulations seem OK. I see a lot of upside in BAS. If Bunian 5 is a duster I will bail out and take my loss, I’m not thinking this is likely.

I posted a lot on WBE because the posters were so negative and even after finding oil in November the share price didn’t go up so I kept buying as many as I could. WBE has a lot of upside.

Only the future will tell us which has the most upside out of WBE and BAS. The Bunian oil wells are better producers that Wizard Lake historically, but Rex 2 and that area may be a superior oil producing section of that field.
I see a possibility that Bunian 5 might produce oil at a higher rate than the predicted 700 bod. That would change the outlook.

Both BAS and WBE are in areas where there are opportunities to purchase leases with known oil deposits.

Both could be making real decent profits from their oil production by next year.

Today WBE has a MC three times BAS, and if Bunian 5 goes into ‘immediate’ production then BAS will be producing three times the oil that WBE currently is.

I like to hedge my bets.

Saltbus