Bass Oil Ltd · ASX:BAS
Bass Oil — Investor Presentation (April 2024)
21 slides from Bass Oil's investor presentation, Apr 23, 2024
Slide 1: Bass Oil Capital Raising Presentation April 2024
BASS OIL Capital Raising Presentation April 2024 ASX:BAS www.bassoil.com.au
Slide 2: Disclaimers and Competent Person's Statement
DISCLAIMERS AND COMPETENT PERSON’S STATEMENT This presentation is issued by Bass Oil Limited (ASX: investors consult their professional advisor/s as an fiduciary obligations to or relationship with any BAS) (Bass, or the Company) in relation to a investment in Bass is considered to be speculative in
Slide 3: Disclaimers and Competent Person's Statement
DISCLAIMERS AND COMPETENT PERSON’S STATEMENT This presentation contains “forward looking this presentation is given for illustrative purposes only accumulations by application of future development statements” concerning the financial condition, results and should not be relied upon as (and is not)
Slide 4: Executive Summary
EXECUTIVE SUMMARY Strategically aligned growth capital injection via equity raising • Bass Oil Limited (Bass, BAS, the Company) is an Australian-listed oil producer that holds a majority interest in eight permits in the Cooper Basin (Australia) including the 100% owned Worrior and Padulla oil fields
Slide 5: Bass Oil Corporate Snapshot
BASS OIL | CORPORATE SNAPSHOT Snapshot Ownership Summary Share Price 0.16 4,000 ASX Code BAS Directors and Staff 10% 0.14 3,500 Shares (Ordinary) 268,451,578 Institutional 0.12 3,000 Options (Unlisted) - and Corporate 18% 0.10 2,500 Options (Listed) 132,340,7891 0.08 2,000 Share Price $0.077 0.06 1,
Slide 6: Recent Operational Highlights
RECENT OPERATIONAL HIGHLIGHTS Positioned to capitalise on growth pipeline following record revenue and profitability Full year profitability and positive cash flow milestones achieved in CY23 through record revenue and sustained high oil prices. First full year of production from Bass’ two cash
Slide 7: Capital Raising Investment Highlights
CAPITAL RAISING INVESTMENT HIGHLIGHTS Funding expansion into the Australian east coast gas market In CY23, Bass achieved significant milestones of full year profitability and positive cash flow through record revenues. Capital raise funding will further enable Bass to complete Kiwi 1 and perform
Slide 8: Kiwi Gas Commercialisation Strategy
KIWI GAS | COMMERCIALISATION STRATEGY A successful EPT at Kiwi will confirm commerciality and provide a clear pathway to the gas market Bass team has previously assessed the Kiwi gas discovery to contain: Mean resource of 5.24 BCF1. Identified an upside 3C resource of 11.5 BCF1. Typical NPV
Slide 9: Deep Coal Commercialisation Opportunity
DEEP COAL COMMERCIALISATION OPPORTUNITY Investment follows previously announced Deep Coal Gas Prospective Resource study The deep Permian aged coals have previously been recognised to be a potential major new source of gas in Australia. Gas in the Permian aged coals of the Toolachee, Epsilon and
Slide 10: Indicative Work Program
INDICATIVE WORK PROGRAM Kiwi 1 EPT and PEL 182 Deep Coal Study Action / Event Expected Completion Rig mobilisation to Kiwi-1 May 2024 Complete Kiwi-1 Test and analyse results End June 2024 Commence Deep Coal Study April 2024 Results of the Geomechanical study available June 2024 Results of the Rapid
Slide 11: Warra Ridge Prospective Opportunity
WARRA RIDGE PROSPECTIVE OPPORTUNITY Preliminary assessment indicates significant Oil Prospective Resource As part of the prospectivity review of all recently acquired permits, Bass has identified a potential oil trend in the southern Cooper Basin along the Warra ridge in the Company’s 100% owned P
Slide 12: Resources & Reserves Statement
RESOURCES & RESERVES STATEMENT Developed and Undeveloped Resources & Reserves, as at 31 December 2023 Field Reserves (MMbbl)1 3P (Proved, Probable & 1P (Proved) 2P (Proved & Probable) Possible) Australia 0.158 0.366 0.669 Indonesia 0.189 0.439 0.914 Total Reserves 0.347 0.805 1.583 Field Contingent
Slide 13: Capital Raise Information
CAPITAL RAISE INFORMATION
Slide 14: Offer Structure Overview
OFFER STRUCTURE OVERVIEW $3.1 million via Private Placement and Share Purchase Plan • Raising approximately up to $3.1 million via issuing ~44.29 million new shares (“New Shares”) consisting of: Offer Size & • $1.1 million Private Placement issuing ~15.7 million New Shares (“Placement”). Structure •
Slide 15: Sources and Uses of Funds
SOURCES AND USES OF FUNDS Source of funds A$m Placement 1.1 Share Purchase Plan 2.0 Total sources 3.1 Use of funds A$m Kiwi-1 Extended Production Test (EPT) 1.4 PEL 182 Deep Permian Coal Seam Gas Studies 0.6 Other high-value oil development opportunities 1.0 Expenses related to the Capital Raise 0.1
Slide 16: Pro-Forma Capital Structure
PRO-FORMA CAPITAL STRUCTURE Indicative Capital Structure Existing Shares on Issue M 268.4 Pre-raise Market Capitalisation A$m 20.7 New Shares under Placement M 15.7 New Shares under SPP M 28.6 Pro-Forma Basic Shares on Issue M 312.7 Indicative Pro-Forma Market Cap (At Issue Price) A$m 21.9 Existing
Slide 17: Indicative Offer Timetable
INDICATIVE OFFER TIMETABLE Event 2024 Record Date for SPP 7:00pm (AEST) Thursday, 18 April Announcement of Placement result and SPP announcement Friday, 19 April SPP Offer opens and booklet made available 9:00am (AEST) Tuesday, 23 April Settlement of Placement Shares Friday, 26 April Allotment and t
Slide 18: Supplementary Information
SUPPLEMENTARY INFORMATION
Slide 19: Cooper Basin Portfolio Overview
COOPER BASIN | PORTFOLIO OVERVIEW Diverse portfolio in the renowned Cooper Basin • 2 Pipeline Licenses (PPLs) No. of Permits • 5 Retention Licenses (PRLs) • 1 Exploration License (PEL) • 100% interest in PPLs 207 and 221 • 100% interest in PRLs 188-190, 231-233, and 245-246. Interest • 80% interest
Slide 20: South Sumatra Basin Portfolio Overview
SOUTH SUMATRA BASIN | PORTFOLIO OVERVIEW Profitable producer in prolific oil and gas region No. of Permits • 1 Production License (KSO) Interest • 55% interest and operator • Tangai-Sukananti Oil fields: o The Company's acquisition of the Tangai-Sukananti KSO in 2017 transformed Bass Oil into a prof
Slide 21: Bass Oil Limited
BASS OIL LIMITED Tino Guglielmo – Managing Director tino.guglielmo@bassoil.com.au +61 3 9927 3000 www.bassoil.com.au