  Two bases of states are presented for modules of the graded parafermionic
conformal field theory associated to the coset $\osp(1,2)_k/\uh(1)$. The first
one is formulated in terms of the two fundamental (i.e., lowest dimensional)
parafermionic modes. In that basis, one can identify the completely reducible
representations, i.e., those whose modules contain an infinite number of
singular vectors; the explicit form of these vectors is also given.
  The second basis is a quasi-particle basis, determined in terms of a modified
version of the $\ZZ_{2k}$ exclusion principle. A novel feature of this model is
that none of its bases are fully ordered and this reflects a hidden structural
$\Z_3$ exclusion principle.
