Stock Exchange Listing: ASX:OBL
Primary Commodity: Oil | Gas
Stage of Production: Explorer
Oil Basins (OBL) is an energy company with exploration projects in Australia. The company is listed on the Australian Securities Exchange (ASX: OBL). The company has two offshore projects and one onshore project. Vic/P47 is the company’s core asset, located in the Gippsland Basin, Bass Strait. The Gippsland Basin is Australia’s premier oil and gas province, and home to the Patricia Balenne (gas), Longtom (gas/condensate), Kipper (gas/oil) and Tuna (gas / oil) permits.
Vic/P47 permit covers 202km2 containing the Judith and Moby conventional gas fields. Two-gas discovery wells have been drilled within the permit, Judith-1 was drilled by Shell in 1989 (22km from Longtom gas field), and Moby-1 was drilled by Bass Strait Oil in 2004.
OBL is an excellent investment opportunity for institutions and individuals looking for exposure to highly demanded energy in the South Eastern Australian market. The company is well positions to leverage off the movement in Australian energy sector from coal to gas.
The South Eastern Australian energy market has failed to secure supply of gas for the domestic market place and from late 2017 the domestic market will not have sufficient gas to meet its energy needs. This has lead to a significant increase in Australian gas prices.
OBL believe Vic/P47 can be commericalised to feed not a strong domestic market place.
We welcome discussions with both institutional, super funds (pension) and individual investors.
The company has 277 Million shares on issue, minimal debt and a low cash burn.