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Bass Strait plunges as well hopes are dashed.(Bass Strait Oil Company Ltd.)(Brief Article)

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From: Australasian Business Intelligence
Date: 20050315
Author:Prior, Neale

Mar 14, 2005 (The West Australian - ABIX via COMTEX)

The share price of Australian company, Bass Strait Oil, fell after a well produced no oil. The company hoped that the Zane-Grey-1 well in the offshore Gippsland Basin would contain 100 million barrels of oil. Reports of gas and oil shows lifted the share price from $A0.56 to a high of $A0.82 before closing at $A0.73 on 11 March 2005. However, on 14 March, the company announced that the well had found no commercial hydrocarbons. The share price fell to a low of $A0.29 and closed at $A0.30.

Publication Date: 15 March 2005 ...

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