General discussion thread, page-57

STO didn't sell Beanbush land to BAS.

BAS acquired Beach Energy Ltd's assets, which included PEL 182 (adjacent to Santos land).

At the time, there was no gas resource identified

Only recently (November 2022) BAS made the discovery "Significant Gas Resource Identified in PEL 182"

• The play exists in PEL 182 (Bass 100% and operator), where Fluid has identified a potential gas in place of 21 TCF along with 845 Billion Barrels in place of condensate/oil

• The Moolion East prospect containing 3.8 TCF of gas in place, identified as the ideal area to test the play, has an assessed prospective resource of 568 bcf plus associated liquids

• Cooper Basin operator Santos is currently trialing horizontal drilling and fracking to commercialise this significant resource at Beanbush, adjacent PEL 182

This has recently been significantly de-risked by Santos as they hold the same deepcoal potential, in Beanbush 3H, that is present in BAS PEL 182 permit. Santos quarterly mentions Beanbush was a success and results to be incorporated into "deep coal appraisal plans". This means they're going ahead on commercializing this asset.

At $50 Million Market Cap this here is a steal. 1TCF is usually valued at $1 Billion. While this is still early days, BAS will easily continue to move on any news from STO (Santos) on their progress from their side and potential take over. If Santos is progressing and spending money on the discovery on their side with commercialization efforts, they will surely have interest to take PEL 182 from BAS, it's only a matter of time.

Based on other oil and gas explorers with multi-tcf potential, BAS will sit comfortably on a $100-150M Market Cap (atleast 1-2x the share price of today)