Ann: Onshore Indonesian Oil Operations Update - January 2019, page-13

To begin with I’m very impressed. Specifically in the reputation Tino has on this forum & Tino’s timely and clear responses. 

It’s reassuring to see Tino’s acknowledgement of core areas of concern with an action plan either in place or underway. I’ve posted some snippets of our exchange below. Please note the cut and paste are my edits and I’ve focused on 2 key areas to highlight the work underway within the companies control. 

Topic 1: Rig availability & repayments to Cooper 

Response: 

The team is looking to confirm the availability of a rig to drill the Bunian 5 well by mid year.  It may be possible to bring the date forward but I wanted to be a little conservative.

We are scheduled to repay Cooper the final two installments in 31 March and 30 June.  The way the timing of production and payments work, bringing the well drilling forward wont impact on our receipts for these repayments.  We have earmarked funds for the repayments already.

Topic 2: Market communications to drive shareholder awareness of BAS.  

Response: 

You would have noticed that we have recently signed up to the ProActive Investor communications service where they distribute our news releases to their local and international subscriber base.  Included in that service they produce video interviews that are widely distributed as well.  We are actively working to engage an south-east Asian investor base.

We also actively participate in meaningful investor conferences such as the Noosa Resources conference, the Good Oil conference, Perth in Sept and now ProActive investor hosted conferences in SYD and MEL with the next one at the end of March.

Finally, there is no substitute for wearing out the shoe leather to visit brokers and investors.  I am stepping up that effort as our business development effort progresses.

In summary, post my communication with Tino I’m happy where my money is invested. 

Ride