Bass Oil Limited (ASX:BAS), an Australian-listed oil producer with interests in the Cooper Basin and South Sumatra Basin, has released its half-year results for 2025. The company reported steady net entitlement oil production compared to the previous half-year, alongside a 55% increase in Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) to $571,000. As of June 30, 2025, Bass Oil held a cash position of $1.96 million.
The company highlighted its progress towards becoming a gas producer in the Australian East Coast Gas Market (ECGM). Managing Director Tino Guglielmo noted the development of the Kiwi gas and condensate field and progress on financing options. In May, Bass Oil announced an agreement to acquire the Vanessa gas field, a move expected to accelerate the company’s entry into the ECGM and appraise the potential of deep coal gas resources in PEL 182.
Key performance metrics for the half-year showed net production at 42.49 thousand barrels (mbbl) and net oil sales at 38.28 mbbl. Sales revenue totalled $3.71 million. The average realised oil price decreased to US$70.97 per barrel. The company emphasised its focus on safety, reporting no lost time or reportable incidents across its operations.
Bass Oil confirmed its commitment to executing its strategy and continuing its growth trajectory in the second half of FY25. The company funded priority development activities during the period via a non-renounceable rights issue which secured $0.92 million. The full Half Year FY25 accounts have been released for further details on the company’s performance and development of its growth projects.
