Australia's Bass Oil rises on higher production, selling cost

Bass Oil

07/07/2022 03:42

** Shares of Australia and Indonesia-focused oil producer
Bass Oil  BAS.AX  rise as much as 11.9% to A$0.047, their
highest level since May 23
    ** Says the Tangai-Sukananti oil field in Indonesia, in
which BAS has a 55% operating interest, averaged production of
861 barrels of oil per day (attributable to co, in the JV) in
June, a 47% increase on the prior month  urn:newsml:reuters.com:*:nASX61hYfW 
    ** Higher average daily production attributable to the new
Tangai-5 well, brought online on May 15
    ** Average monthly realised oil price for June was $119.63
per barrel, up from $110.01 per barrel in May 
    ** Stock on track for best intraday session since June 29
    ** Trading volumes near twice their 30-day average, with
about 975,000 shares traded so far 
    ** BAS down 30% YTD, as of last close

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))