Bass oil looking Good for Future, page-58

BAS has really good prospects and is the cheapest oil producer (of any note) on the ASX.

But without some exceptional news or a large spike in oil price (to say >$70), it's going to seriously struggle to go anywhere until end of the year.

BASO option exercises are going to happen every 2 weeks until December. And each time they happen, it seems some (not all) people are just gunna keep lobbing up shares at 0.4c and kill it.

So basically it needs good news or spike in oil price or it's stuffed for next couple of months.

After that could well be a different story once dead wood cleaned out.

I'd hate to burst everyone's bubble, but talk of 0.6c short term when there is still so many unexercised BASO's is extremely ambitious.

Longer term I'm very bullish on this thing (0.6c very achievable). Shorter term it's got supply issues (i.e. too much supply coming onto market)