Australia's Bass Oil hits over 3-month high on production jump

Bass Oil

05/09/2022 04:46

** Shares of Australia and Indonesia-focused oil producer
Bass Oil Ltd  BAS.AX  rise as much as 18.2% to A$0.052 - highest
since May 18 
    ** Says daily production at its Indonesian assets averaged
~900 barrels of oil per day (bopd) in August, highest rate
achieved since December 2019  urn:newsml:reuters.com:*:nASM000PIM
    ** Posts biggest intra-day percentage gain since Aug. 24
    ** Expects recently completed Tangai 5 development well in
South Sumatra Basin, Indonesia to perform strongly
    ** Says evaluating potential for drilling of Tangai 6 well
to address unswept oil in the Tangai field, following successful
drilling of the Tangai 5 well
    ** Stock down 26.7% YTD, as of last close 

 (Reporting by Nausheen Thusoo)
 ((Nausheen.Thusoo@thomsonreuters.com;))