Bass Strait Oil Company Ltd (BAS) is engaged in the exploration for oil and gas in onshore and offshore areas of south-eastern Australia. Permits Vic/P41 and Vic/P66 are located adjacent to each other in the east of the offshore Gippsland Basin. Vic/P42 is located approximately 40 kilometers offshore and contains water depths from 50 to 80 meters. Permit Vic/P47 is located in the offshore Gippsland Basin, approximately 10 kilometers offshore, south of the Victorian town of Orbost. The permit contains the Judith and Moby gas discoveries. During the fiscal year ended June 30, 2009, the Company’s focus was on the Judith Field, which is located 22 kilometers east of the Longtom Gas Field. Exploration permit PEP 167 is located in the onshore Otway Basin, near Portland, in western Victoria. The Company holds a 100% interest in the permit, which comprises approximately 833 square kilometers. BSOC Business Services Pty Ltd is the Company’s wholly owned subsidiary.
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