BASS OIL LIMITED ASX:BAS
www.bassoil.com.au
use only | |
ersonal | March 2022 |
Bass to become an oil producer and the operator of a significant acreage position in the
Cooper Basin via second proposed acquisition
DISCLAIMERS AND IMPORTANT NOTICES
Forward Looking Statements:
This presentation has been prepared by Bass Oil Ltd ("BAS" or the "Company"), with the purpose of providing general information about the Company. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company, or as an inducement to make an offer or invitation with respect to those securities.
onlyThe presentation contains certain statements which may constitute "forward-looking statements". Such statements are only predictions and involve inherent risks and uncertainties. Actual results and performance are likely to differ materially from those expressed or implied in any forward-looking statements.
To the maximum extent permitted by applicable laws, BAS and its directors, agents, officers or employees make no representation and can give no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the authenticity, validity, accuracy, suitability or completeness
f, r any errors in or omission from, any information, statement or opinion contained in this presentation.
This presentation does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the useCompany's prospects. It should not be relied upon as a complete and accurate representation of any matters that a potential investor should consider in evaluating
BAS. The Company accepts no responsibility to update any person regarding the information contained in this presentation.
Qualified Petroleum Reserves and Resources Evaluator Statement:
The information contained in this report regarding the Bass Oil Limited reserves and contingent resources is based on and fairly represents information and s pporting documentation reviewed by Mr Giustino Guglielmo who is an employee of Bass Oil Limited and holds a Bachelor of Engineering (Mech). He is a member of the Society of Petroleum Engineers (SPE) and a Fellow of the Institution of Engineers Australia (FIEAust) and as such is qualified in accordance with ASX listing rule 5.4.1 and has consented to the inclusion of this information in the form and context in which it appears.
Notes on Reserves and Resources (Reserves and Contingent Resources as at 31 Dec 2020 were reported to the ASX on 25 March 2021):
Under the SPE PRMS guidelines, "Reserves are those quantities of petroleum anticipated to be commercially recoverable by application of development projects to k own accumulations from a given date forward under defined conditions". Net Entitlement Reserves are the reserves that Bass has a net economic entitlement to. That is, a share of cost oil and profit oil that Bass is entitled to receive under the KSO signed with the Indonesian government body, PT Pertamina. Contingent
Res | urces are "those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by application of development | |
pr jects, but which are not currently considered to be commercially recoverable owing to one or more contingencies". | ||
Ba | Oil is not aware of any new information or data that materially affects the information provided in those releases, and all material assumptions and technical | |
pa ameters underpinning the estimates provided in the releases continue to apply | ||
March 2022 | 2 | |
ersonal |
INVESTMENT HIGHLIGHTS
onlyuseersonalMarch 2022
Bass to acquire a portfolio of Cooper Basin interests from Beach Energy and Cooper Energy for ~US$4.70/barrel 2P reserves (~US$1.25/barrel 2P+2C)
The transactions provide Bass with 100% interest in two producing fields (~75 bopd 12- month production) and a high-equity interest in a portfolio of prospective O&G properties
The producing assets generate a cash margin greater than A$30/barrel at a Brent oil price of US$80/barrel and projected A$80/barrel at US$120/barrel Brent
Bass aims to create a high margin Australia business with a production target of 500 bopd within the first 12 months and developing a portfolio of opportunities that can achieve a medium term production base of >1000 boed
Bass has received commitments from sophisticated and professional investors to raise $1.2 million to fund the Beach Transaction and will concurrently complete a share consolidation to recapitalise the Company (subject to shareholder approval)
The Company will become one of the largest acreage holders in the Cooper Basin and provides investors with low-cost exposure to a high potential portfolio of Australian assets, backed by a free cash flow generating Indonesian portfolio
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BASS OIL LIMITED CORPORATE SNAPSHOT
Capital Structure1
Share Price (7 March 2022) | A$0.002 | |||
only | 4.6b | |||
Shares on Issue | ||||
Market Capitalisation | A$9.2m | |||
Cash (31-Dec-21) | A$2.1m | |||
Debt (31-Dec-21) | Nil | |||
use | A$7.2M | |||
Ent rprise Value | ||||
Share Ownership Summary | ||||
Board and Management, | ||||
ersonal | 12.7% | |||
Cooper Energy, | ||||
7.7% |
Other Shareholders,
79.7%
1Excluding $1.2 million Placement announced 2 March 2022 (completion pending shareholder approval)
March 2022
Share Price (cents)
0.50
0.45
0.40
0.35
0.30
0.25
0.20
0.15
0.10
0.05
0.00
Share Price History
500 | |
450 | |
400 | |
350 | |
300 | (millions) |
250 | |
Volume | |
200 | |
150 |
100
50
0
Volume ASX:BAS
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SENIOR MANAGEMENT AND DIRECTORS
only | |||
Peter Mullins | |||
Non-Executive Chairman | |||
use | |||
◼ | 40+ years of senior banking | ||
xperience in Australia and | |||
New York as a key | |||
Commonwealth Bank | |||
executive. | |||
◼ Focus on institutional and | |||
corporate finance in the | |||
resources and energy sectors | |||
including mergers and | |||
ersonal |
acquisitions, privatisations, structured finance, IPOs and c pital raisings.
March 2022
Board of Directors
Hector Gordon
Non-Executive Director
- 40+ year career as a Petroleum Geologist, primarily in Australia & South-East Asia.
- Currently a Non-Executive Director of Cooper Energy where he was previously Executive Director of Exploration & Production
- Previous executive roles with Beach Energy, Santos, AGL, TMOC, Esso Australia and Delhi Petroleum
Mark Lindh
Non-Executive Director
- Corporate advisor with more than 15 years' experience advising mining and resources companies with a particular focus on the energy sector (corporate advisor to Beach Energy from 2004 to 2016)
- Mr Lindh is a founding director of Adelaide Equity Partners Limited, an investment and advisory company
Executive Management
Andri Luthfi
General Manager
◼ Holds both Geology & PhD Petroleum Engineering qualifications
◼ PhD in Enhanced Oil
Recovery (EOR)
◼ More than 15 years' experience across Indonesia's major basins. Most recently General Manager at Bass Oil Sukananti Ltd
◼ Previously Development Manager with Samudra Energy.
- Significant experience across the Indonesian, Australian and US land-based Basins
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Bass Oil Limited published this content on 08 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2022 21:46:04 UTC.
