Bass Oil Limited (ASX code: BAS) is a petroleum producer focused on southeast Asia. Bass Oil operates the Tangai-Sukananti KSO in the prolific South Sumatra basin of Indonesia. The Tangai-Sukananti KSO contains the Tangai and Bunian oil fields. Bass Oil's Gross (55% share) 2P reserves at 30 June 2017 are assessed to be 1.35 million barrels of oil. In accordance with ASX reporting requirements for fiscal environments that use production sharing contracts or similar, Bass reports Net 2P Oil Reserves of 0.70 million. Additionally the highly experienced Bass Oil team searches for exploration and production opportunities in the region that will offer future growth.
The Company has a strong committed shareholder base where it's Board and management holds a 19.6% interest and Cooper Energy holds 15.8% interest. The Board's focus is to extract value from it's Indonesian assets for all shareholders.