BAS has a risk adjusted exploration appeal which could be valued at over $1 per share and which is about 23 cps based only on the SPEKE SOUTH 1 prospect. (success worth just over $1 per share assuming a modest NPV of $22/bbls for Gippsland Oil)
Recommendation: Bass Strait Oil Co is a speculative buy below 23 cps, ahead of drilling during Q2 2008. Once additional funding is in place(done), the stock is likely to see active trading which could be quite volatile.
Capital rasing in place. Drilling to commence shortly. Undervalued exciting company.
Successful drilling at SPEKE would be likely to reduce the cost of farming out, so BAS may wait until VIC-P-42 is drilled before acting on farm-out offers over VIC-P-41
Big year ahead for BAS.
36 million barrels apache drilling 5 march, page-3
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Last
6.6¢ |
Change
0.001(1.54%) |
Mkt cap ! $19.16M | |||
| Open | High | Low | Value | Volume |
| 6.6¢ | 6.6¢ | 6.6¢ | $4.293K | 65.03K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 133637 | 6.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.6¢ | 85274 | 1 |
View Market Depth
| Last trade - 15.00pm 05/06/2024 (20 minute delay) ? |
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Last
6.6¢ |
Change
0.001 ( 1.54 %) |
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| Open | High | Low | Volume | ||
| 6.6¢ | 6.6¢ | 6.6¢ | 10000 | ||
| Last updated 15.51pm 05/06/2024 ? | |||||
| BAS (ASX) Chart |