Announcement PDF ANNUAL REPORT For the financial year ended 31 December 2024 CORPORATE DIRECTORY ABN: 13 008 694 817 Contents Chairman’s Message .................................. 3 Directors Managing Director’s Report ......................... 4 Hector M Gordon, Chairman Giustino Guglielmo Laura A Reed Mark L Lindh Managing Director Giustino Guglielmo Reserves and Resources ........................... 12 Safety .................................................... 15 Directors’ Report ..................................... 17 Remuneration Report ............................... 20 Auditor’s Independence Declaration ........... 29 Company Secretary Directors’ Declaration ............................... 30 Robyn M Hamilton Consolidated Statement of Profit or Loss and Other Comprehensive Income ...... 31 Registered Office and Principal Administration Office Consolidated Statement of Financial Position .................................................. 32 Level 5, 11-19 Bank Place Melbourne, Victoria, 3000, Australia Telephone +61 (3) 9927 3000 Email admin@bassoil.com.au Consolidated Statement of Changes in Equity................................................. 33 Consolidated Statement of Cash Flows ....... 34 Notes to the Financial Statements ............. 35 Auditors Consolidated Entity Disclosure Statement…..72 Grant Thornton Audit Pty Ltd Collins Square Tower 5/727 Collins Street Melbourne, Victoria, 3008, Australia Share Registry Link Market Services Limited Tower 4, 727 Collins Street Melbourne, Victoria, 3008, Australia Telephone +61 (3) 9615 9800 Facsimile +61 (3) 9615 9900 Stock Exchange Listing Australian Securities Exchange Ltd 525 Collins Street Melbourne, Victoria, 3000, Australia ASX Codes: BAS – Ordinary Shares BASO – Share Options Website: www.bassoil.com.au Independent Auditor’s Report ................... 73 Shareholder & Other Information ............... 76 Forward Looking Statements This Annual Report includes certain forwardlooking statements that have been based on current expectations about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause those acts, events and circumstances to differ materially from the expectations described in such forward-looking statements. These factors include, among other things, commercial and other risks associated with the meeting of objectives and other investment considerations, as well as other matters not yet known to the Group or not currently considered material by the Group. CHAIRMAN’S MESSAGE On behalf of the Board, I am pleased to present Bass Oil Limited’s 2024 Annual Report. This year’s report showcases the progress on the Company’s strategic objectives and the continued contribution to the business from our two cash-generating assets—the Cooper Basin and Indonesia. Supported by high oil prices, the operations have provided a strong foundation, with our asset portfolio offering promising potential for future growth. The Company delivered revenues of $5.71 million and EBITDA of $0.57 million generated from net entitlement oil sales of 68,860 barrels down slightly on the previous year. Our focus in 2024 was on identifying and quantifying the upside potential and value of the Company’s Cooper Basin assets while sustaining oil production across our portfolio. We completed the successful flow test at our Kiwi-1 well and the continued production and cash generation at our Indonesia and Cooper Basin assets. The impact of these and other initiatives will be further outlined in the Managing Director’s report that follows. Looking ahead to 2025, Bass remains committed to its growth strategy of becoming a mid-tier oil and gas producer. The team has made significant strides in planning and identifying the best path to unlock value across our portfolio. We will continue to keep our shareholders informed as we advance these opportunities throughout the year. I am proud to share that our relentless focus on safety has resulted in zero Lost Time Incidents, with an outstanding 6.8 million safe work hours achieved as of December 2024. As we expand, we remain committed to fostering a workplace where the safety and well-being of our employees and contractors come first. In closing, I would like to express my gratitude to our teams in Australia and Indonesia, as well as my fellow board members, for their hard work and contribution to what has been a year of significant progress for Bass. We remain focused on building a profitable and growing business and I am excited for what lies ahead. To our shareholders, thank you for your ongoing loyalty and support as we embark on this exciting journey. We are dedicated to delivering value and look forward to sharing our continued progress in 2025 and beyond. Hector Gordon Chairman 28 March 2025 Bass Oil Limited Annual Report December 2024 3 MANAGING DIRECTOR’S REPORT The full-year 2024 was another milestone year for Bass, highlighted by proving up a valuable gas discovery in our Cooper Basin assets. The company generated $5.71 million in sales revenue from its ongoing oil production down 12.9% year on year. This was due in part to a 5% reduction in the average oil price and lower production in both our Indonesian and Cooper Basin operations. Oil prices remained volatile last year. Brent crude oil prices peaked at approximately US$90 per barrel and remained above US$70 per barrel throughout the year. Bass recorded an EBITDA of $0.57 million representing a margin of 10%. This was a below target result driven by the lower oil production due to the delay in the Indonesian drilling program and settling out of flush production from Cooper Basin projects completed in 2023. Both the Company’s operations are sensitive to production variability due to the high proportion of fixed costs in the operating cost mix. A number of cost reduction and production enhancement initiatives remain the focus in 2025. A further summary of performance is summarised in the table below. During 2024 the Company was able to deliver on a number of important initiatives including further demonstrating the potential of its 100% Bass owned Cooper Basin assets. In 2025, Bass aims to expand into a mid-tier oil and gas producer by advancing growth initiatives across its Australian portfolio in the Cooper Basin. Notably, the near-term success at Kiwi would serve as a strategic springboard for the Company’s entry into the eastern Australian gas market. Bass has identified the significant strategic importance of the Deep Coal Gas resource play in the Company’s wholly owned PEL 182. The best example of the opportunity here is the Moolion East prospect within PEL 182, with an assessed prospective resource of 568 BCF of gas and 22.7 million barrels of condensate. This asset has the potential to be transformational for the company, given its size. Bass will continue its efforts to confirm the commercial viability of this project and determine the most suitable path forward for its development. With no debt and a strong prospective asset base, Bass is well-positioned to execute its strategy and continue its growth into 2025. Further detail on the Company’s reserves is contained herein. Full Year Summary (All amounts are in United States dollars unless otherwise stated, Bass share) • CY24 sales revenue to $5.71 million (CY23 $6.56 million) from lower sales and oil price • Cash position $0.62 million as at 31 December 2024 • A net loss after tax of $0.394 million (CY23 $0.269 million NPAT) Financial and Operating Performance Key Performance Metrics CY24 CY23 Change Net Production (mbbl) 99 124 -20.6% Net Entitlement Oil sales (mbbl) 69 77 -10.7% Sales Revenue (US$m) 5.71 6.56 -12.9% Average Realised Oil Price (USD) 76.06 80.32 -5.3% EBITDA (US$,000) 570 1,512 -62.3% NPAT/NLAT (US$,000) -394 270 - . The Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) has been calculated as earnings before tax (-$307,943) plus interest ($117,406) and depreciation and amortisation expense ($760,893). 2. Net Profit After Tax 1 Bass Oil Limited Annual Report December 2024 4 MANAGING DIRECTOR’S REPORT (cont’d) These are Non-IFRS metrics and contain 55% Bass share of Indonesian results and 100% Australian results. Net production, Oil Sales and Entitlement Oil are all components of the Entitlement Calculation Statement that generates Sales revenue and reserves in the Company’s Indonesian business. 3 Bass produced 98,457 barrels of oil (net) during the year ended 31 December 2024. The net entitlement oil sales to Bass was 68,860 barrels for the year after Domestic Market Obligation (DMO). CY23 vs CY24 Production (kbbl) 14 12 10 8 6 4 2 0 Jan Feb Mar Apr May Jun Jul CY23 CY24 Aug Sep Oct Nov Dec Figure 1: Bass Group Monthly Production Liquidity / Cash Position As at 31 December 2024, Bass’s cash reserves were $0.62m from $0.93m as at 31 December 2023. The Company is not carrying any debt and holds a US$2.24 million cash deposit to support a rehabilitation bond in favor of the South Australian Department for Energy and Mining. Growth Initiatives Since acquiring its Cooper Basin assets, Bass has been conducting a comprehensive review across all its permits to identify high-value exploration, appraisal and development opportunities. This review involves detailed geological and geophysical analysis, leveraging advanced data interpretation techniques to assess untapped potential. he findings will undergo further evaluation in 2025, guiding Bass’s future investment and exploration strategy. By optimizing its asset portfolio and targeting high-impact prospects, the Company remains committed to expanding production, enhancing resource value, and driving long-term growth in one of Australia’s most prolific hydrocarbon regions. Bass Oil Limited Annual Report December 2024 5 MANAGING DIRECTOR’S REPORT (cont’d) Figure 2: Cooper Basin Location Map PRLs 245 and 246 – Kiwi 1 (Bass 100%) Kiwi 1 was drilled in 2003 as an exploration well, resulting in a Triassic age, Callamurra Member gas discovery. The initial discovery, although encouraging, was never fully evaluated until it was acquired by Bass in 2022 culminating in a successful flow test in August 2024. Bass Oil Limited Annual Report December 2024 6 MANAGING DIRECTOR’S REPORT (cont’d) On test the well recorded a maximum production rate limited by surface equipment constraints, of 4.1 million cubic feet per day along with 988 barrels of condensate per day at a 1585 psi flowing wellhead pressure. Figure 3: Gas flare from Kiwi-1 wellsite at 1.7 mmcfd A mapping project utilising 3D seismic, data has indicated the possible presence of a larger stratigraphic trap and has resulted in an increased assessment of a best estimate Contingent Resource (2C) of 3.6 BCF along with 416,000 barrels of condensate, a high estimate Contingent Resource (3C) of 11.5 BCF along with 1,525,000 barrels of condensate and a low estimate Contingent Resource (1C) of 1.1 BCF along with 155,000 barrels of condensate. The results from recent screening economics for the development of the Kiwi gas discovery outlined in ASX announcement on 8 November 2024 demonstrate the significant value of the asset. The best estimate contingent resource case (2C) yields a Net Present Value (NPV) calculated to be ~A$24.0 million along with the potential to more than double Bass's reserves. The Kiwi asset alone is a transformative opportunity for Bass, with future development poised to unlock substantial value. As previously advised, Bass has commenced the FEED study for field development and is negotiating the various commercial agreements required to move to a Final Investment Decision (FID) in 2025. In addition, the Company announced on 10 February 2025, that it is undertaking a study to quantify the significant gas potential that has been identified in the Triassic zone in the northern Cooper Basin by the recent gas test at Kiwi and previous exploration success in the area (Figure 4). Bass Oil Limited Annual Report December 2024 7 MANAGING DIRECTOR’S REPORT (cont’d) Figure 4: Map of Bass’ Kiwi Gas Field – Northern Cooper Basin Triassic Gas and Oil Play PEL 182 (Bass 100%) Deep Permian Coal Gas In 2022, Bass identified the Moolion East deep coal prospect within PEL 182, with an assessed prospective resource of 568 BCF of gas and 22.7 million barrels of condensate. This asset has the potential to be transformational for the company, given its substantial prospective resource size. Bass will continue its efforts to confirm the commercial viability of this project and determine the most suitable path forward for its development. This opportunity is strategically aligned with the deep coal gas resource initiative in the Patchawarra Trough, where the Santos-operated Cooper Basin Joint Venture is actively working to commercialise this potentially very large gas resource. To accelerate the development of this significant opportunity, Bass has commenced a commercialisation study to determine the most effective path forward. This study is being conducted by a globally respected service company SLB and with phase 2 set to conclude in 2025. For further details, refer to the ASX Announcements: “Deep Coal Commercialisation Review Underway” released on 18 April 2024 and 16 September 2024. Bass Oil Limited Annual Report December 2024 8 MANAGING DIRECTOR’S REPORT (cont’d) Figure 5: Map of Bass permit PEL 182 with drilled and producing nearby gas fields and pipelines PRLs 231-233 (Bass 100%) As part of the prospectivity review of all recently acquired Bass permits the geoscience team identified a potential oil trend in the southern Cooper Basin along the Warra ridge in the Company’s 100% owned PRLs 231-233 (see Figure 6). The Warra ridge, which is adjacent to Bass’ Worrior oil field and south of a number of other producing oil fields operated by the CBJV and Beach Energy, hosts the Pintari North oil field. Bass has identified the Tyrell and Flint prospects utilising the Westeros 3D seismic survey. The Tyrell prospect is assessed at a Prospective Resource of over 2 million barrels of oil in the McKinlay, Namur and Murta formations. These prospects will be offered to potential farmin partners for drilling in the 2025-26 drilling program. Bass Oil Limited Annual Report December 2024 9 MANAGING DIRECTOR’S REPORT (cont’d) Figure 6: PRLs 231-233 (Ex PEL 93) location map Indonesia – Tangai-Sukananti KSO (Bass 55% and Operator) The Bunian field continues to outperform expectations. As a result, during the year, the subsurface team reprocessed the 3D seismic which covers the entire permit. This has led to an improved structural interpretation of the Bunian field and allowed a more detailed facies model of the reservoir section in the TRM3 sequence. The work is supportive of the existence of a westerly extension of the field (Figure 7) and has highlighted the potential for an additional prospect to the north of the licence. This work has given confidence to support drilling of the Bunian 6 development well. The well will be located south-west of the prolific Bunian 3 well (Figure 7). which has produced in excess of 1.2 million barrels of oil to date and is still the strongest producer in the field. Bunian 6 will target undrained oil in the southwest of the Bunian field. The well is expected to spud in the second half of 2025 following delays in securing a drilling rig due to increased activity in the South Sumatra Basin. The results of Bunian 6 will inform the potential for a significant extension of the Bunian field to the west. The existence of the westerly extension will further be tested by the drilling of the Bunian West 1 well currently planned for the 2026 drilling program. A drilling success at Bunian West could increase field reserves significantly proving the 3P reserves case presented in the Year End 2024 reserves report presented herein. Production optimisation activities continued in 2024 with the installation of artificial lift equipment on the Tangai 5 well which increased production and expected total recovery from the field. Bass Oil Limited Annual Report December 2024 10 MANAGING DIRECTOR’S REPORT (cont’d) Figure 7: Tangai-Sukananti KSO location map CORPORATE Business Development In addition to the organic growth opportunities in its portfolio described herein, Bass is actively seeking strategic opportunities to expand its operations and enhance production capacity. The Company is open to acquiring high-potential assets that offer exploration, appraisal, and production opportunities, with the aim of generating substantial returns. By leveraging its industry expertise, technical capabilities, and financial resources, Bass is committed to identifying and pursuing value-accretive opportunities that drive sustainable long-term growth. With a strong emphasis on operational excellence and disciplined investment, Bass aims to build a diversified portfolio of assets that can maximize value for its stakeholders. The Company remains dedicated to achieving its stated objective of becoming a mid-tier oil and gas producer as soon as it can, thereby strengthening its market position and delivering strong returns for shareholders. Bass Oil Limited Annual Report December 2024 11 RESERVES AND RESOURCES Reserves and Contingent Resources (For year ended 31 December 2024) The total Bass share of 2P Field Reserves as of 31 December 2024 is assessed to be 0.789 million barrels of oil, steady year on year. The total Bass share of 2C Field Contingent Resources as of 31 December 2024 increased substantially and are assessed to be 1.792 million barrels of oil. The 2C Contingent Resources at Kiwi alone have increased to 1.178 million barrels of oil equivalent. In the Cooper Basin, South Australia, comprising the 100% owned and operated Worrior and Padulla oil fields, there is a small increase in 2P reserves year on year, due to continued good production performance of the key Worrior wells offsetting the annual production. Contingent Resources were up significantly year on year following the results of the Kiwi 1 production test where condensate volumes were much higher that the first estimates. In Indonesia, the TS-KSO comprising the 55% owned and operated Bunian and Tangai Fields, there is a small decrease in 2P reserves year on year, with yearly production being partially offset by the continued strong performance of the Bunian-3 well. Table 1 – Developed and Undeveloped Reserves & Resources at 31 December 2024 Field Reserves (MMbbl) 1P (Proved) 2P (Proved & Probable) 3P (Proved, Probable & Possible) Australia 0.177 0.381 0.643 Indonesia 0.180 0.408 0.885 Total Reserves 0.357 0.789 1.528 Field Contingent Resources (MMboe) 1C 2C 3C Australia 0.556 1.735 5.154 Indonesia 0.007 0.057 0.727 Total 0.563 1.792 5.881 Table 1: Developed and Undeveloped Reserves and Resources at 31 December 2024 Reserves The Bass share 2P Field Reserves for the Cooper Basin in Australia are assessed as of 31 December 2024, to be 0.381 million barrels of oil. This reflects the proved and probable reserves for the Worrior and Padulla oil fields (Tables 1 and 2 as well as Figure 2). The Bass share 2P Entitlement Field Reserves in the Tangai-Sukananti KSO in Indonesia are assessed as of 31 December 2024, to be 0.408 million barrels of oil. This reflects the proved and probable reserves for the Bunian and Tangai oilfields (Tables 1 and 2 as well as Figure 7). Net Entitlement Reserves are the share of cost oil and profit oil that Bass is entitled to receive under the KSO signed with the Indonesian government body, PT Pertamina EP. The Net Entitlement Reserves formula varies with the fiscal environment, cost recovery status and oil price and scheduled contract expiry. Bass Oil Limited Annual Report December 2024 12 RESERVES AND RESOURCES (cont’d) Contingent Resources The Bass share 2C Field Contingent Resources for the Cooper Basin in Australia are assessed to be 1.735 million barrels of oil (Tables 1 and 2 as well as Figure 1). The Field Contingent Resources comprise volumes in the Worrior and Padulla oil fields currently considered uneconomic but that may be converted to reserves under different economic circumstances and/or with projects aimed at extending the current economic cut-offs such as acceleration of production or reduced crude fuel consumption. Additionally, in the Worrior Field there are significant contingent resources of oil in the Murta reservoir that may be converted to reserves post fracture stimulation. Planning continues to assess this potential, with a workover and fracture stimulation program being considered in 2025. Kiwi Field gas contingent resources have increased significantly year-on-year, following successful execution of the EPT on Kiwi 1 in 2024, which indicated a significantly higher than expected Condensate Gas Ratio. The 2C Contingent Resources at Kiwi have increased to 1.178 million barrels of oil equivalent. These contingent resources are expected to convert to reserves at a later date, pending the planned FEED work in 2025 and continued assessment of the economics of a pipeline connection and associated infrastructure to bring the gas to market. The Bass share 2C Field Contingent Resources for the Tangai-Sukananti KSO in Indonesia are assessed to be 0.057 million barrels of oil (Tables 1 and 2 as well as Figure 2). The Field Contingent Resources comprise volumes attributed to currently producing or future planned wells in the Bunian and Tangai Fields. There is a small increase in Contingent Resources for Indonesia this year resulting from the delay in the development drilling program due to rig availability. Table 2 – Movements in Reserves & Resources at 31 December 2024 Field Reserves (MMbbl) 1P (Proved) 2P (Proved & Probable) 3P (Proved, Probable & Possible) Total Reserves 31/12/23 0.347 0.805 1.583 CY 2024 Production (0.066) (0.066) (0.066) Revisions 0.076 0.050 0.011 Total Reserves 31/12/24 0.357 0.789 1.528 Field Contingent Resources (MMboe) 1C 2C 3C Total Contingent Resources 31/12/23 0.432 1.229 3.909 Revisions 0.131 0.563 1.972 Total Contingent Resources 31/12/24 0.563 1.792 5.881 Table 2: Movements in Reserves and Resources at December 2024 Bass Oil Limited Annual Report December 2024 13 RESERVES AND RESOURCES (cont’d) Notes on Calculation of Reserves and Resources All reserves and resources are estimated by deterministic estimation methodologies consistent with the definitions and guidelines in the Society of Petroleum Engineers (SPE) 2018 Petroleum Resources Management System (PRMS). Under the SPE PRMS guidelines, “Reserves are those quantities of petroleum anticipated to be commercially recoverable by application of development projects to known accumulations from a given date forward under defined conditions”. Net Entitlement Reserves are the reserves that Bass has a net economic entitlement to. That is, a share of cost oil and profit oil that Bass is entitled to receive under the KSO signed with the Indonesian government body, PT Pertamina. Contingent Resources are “those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by application of development projects, but which are not currently considered to be commercially recoverable owing to one or more contingencies”. For the Worrior and Padulla oil fields in the Cooper Basin, decline curve analysis (DCA) was used to determine the remaining technically recoverable volumes with an economic model overlay to determine the economically recoverable reserves. The reserves are net of crude oil lease fuel. The Dynamic Model for the TS-KSO in Indonesia was revised following the successful drilling of Tangai-5 and has updated the oil volumetrics and development scenarios and drilling locations used in this report. Additionally, a decline curve analysis (DCA) was conducted on the current well. The 1P, 2P and 3P cases are a combination of the forecasts from both the Dynamic Model and the DCA as deemed to best represent the field reserves. Qualified Petroleum Reserves and Resources Evaluator Statement: The information contained in this report regarding the Bass Oil Limited reserves and contingent resources is based on and fairly represents information and supporting documentation reviewed by Mr Giustino Guglielmo who is an employee of Bass Oil Limited and holds a Bachelor of Engineering (Mech). He is a member of the Society of Petroleum Engineers (SPE) and a Fellow of the Institution of Engineers Australia (FIEAust) and as such is qualified in accordance with ASX listing rule 5.4.1 and has consented to the inclusion of this information in the form and context in which it appears. Bass Oil Limited Annual Report December 2024 14 SAFETY Highlights Bass Oil is dedicated to upholding the highest standards of health, safety, and environmental (HSE) performance. Our primary goal is to protect the well-being of our employees, contractors, and the communities where we operate, all while reducing our environmental impact. This section highlights our key HSE initiatives and performance for the financial year. We are pleased to report that in 2024, we achieved some remarkable safety milestones with no Lost Time Injuries in either the Company’s Indonesian or Cooper Basin operations. We surpassed 6.8 million safe work hours and 27,000 safe work hours in each of our operations respectively. These outstanding accomplishments reflect the dedication and commitment of all Bass Oil employees. In addition to our safety achievements, we maintained strong environmental performance, with no significant loss of containment events recorded during the period. Furthermore, we remain in good standing regarding regulatory compliance, having reported no instances of non-conformance. Health and Safety Performance Throughout the period Bass is pleased to report that there were no recorded Lost Time Injuries (LTI) in either its Indonesian or Cooper Basin operations. Indonesia Key Metrics The Indonesian operations recorded no LTI and achieved 450,000 safe work hours in 2024. In total the Indonesian team have achieved over 6.8 million hours without an LTI, an outstanding achievement and a credit to the team there. Initiatives and Improvements During this period, Bass has actively collaborated in safety initiatives periodically launch by Pertamina EP. In addition, it continues its strategic safety improvement program aimed at fostering a systematic approach to workplace health and safety (WHS) enhancement. A key outcome of this program was the upgrade of its Operator Safety Training Program and competency framework. Additionally, the team focused on the inspection and certification of Emergency and Production Equipment. Cooper Basin Key Metrics Bass is pleased to report that we recorded no Lost Time Injuries and achieved over 27,000 safe work hours. This significant achievement is particularly noteworthy, as fiscal year 2024 experienced an increase in work hours across our contract workforce, driven by elevated activity, including the successful well workover and well testing initiatives at our Kiwi project. Initiatives and Improvements During this period, Bass implemented a strategic safety improvement program aimed at fostering a systematic approach to workplace health and safety (WHS) enhancement. A key outcome of this program was the comprehensive review and development of our operational procedures, as we transitioned from the previous operator’s practices. Additionally, we established a refined operator competency framework and refreshed our assurance program, all aligned with the objectives of the improvement initiative. Bass commenced the development of a revised Asset Integrity Management System (AIMS) and Pipeline Integrity Management System, which serve as crucial frameworks for managing process safety risks associated with our operations. Bass Oil Limited Annual Report December 2024 15 SAFETY (cont’d) Environmental Stewardship Environmental Performance Throughout the period, we are pleased to report that there were no significant loss of containment incidents in either Indonesia or the Cooper Basin operations. Initiatives and Improvements Indonesia The Bass operations in Indonesia were awarded a PROPER award in the Blue category by the Ministry of Environment and the award from Pertamina EP as the best KSO for environmental compliance, an outstanding achievement. The team also participated in a reforestation and carbon emissions reduction program during the year planting 150 trees in the area around Bass’ KSO. Cooper Basin A notable achievement during this time was Bass Oil's submission of its Environmental Impact Review and Statement of Environmental Objectives for our operations at Worrior and Padulla. This effort underscores our commitment to responsible environmental stewardship and proactive management of our operations. Regulatory Compliance and Community Engagement Regulatory Performance Bass upheld full compliance with all permit requirements during the reporting period, recording no instances of non-compliance with our regulatory obligations. We maintained a proactive relationship with the industry regulators in both Indonesia and the Cooper Basin, providing regular updates on our activities throughout the year. Community and Stakeholder Engagement Bass Oil continued to engage actively with our local community, offering updates and consultations regarding our operational activities. This engagement reflects our commitment to transparency and collaboration with our stakeholders. Looking Ahead As we look to the future, our health, safety, and environmental (HSE) priorities for next year include further developing our workplace health and safety systems aligned with o