InvestSMART

Bass Oil Limited (ASX:BAS)

ALERT: Price-sensitive ASX Announcement for BAS
Current share price for BAS : $0.046 -0.006 (-11.54%)+
Announcement
Release
27 May 2026 9:43AM
Price at Release
$0.052
Full Release
download
Summary
Bass Oil Limited has secured a $3.5 million grant from the South Australian Government to advance its Kiwi gas project, which is planned to connect to existing Cooper Basin infrastructure. The grant, part of the Gas Grant Initiative, will fund essential geoscience and engineering work, facilitating the construction of a pipeline to enhance South Australia's domestic gas production capabilities. The Kiwi gas project, which has already demonstrated significant production potential, aims to establish a new exploration fairway in the Triassic gas region.
Key Points
  • Bass Oil Limited executed a $3.5 million grant agreement with the South Australian Government.
  • The grant is part of the State’s Gas Grant Initiative to support the Kiwi gas project.
  • The Kiwi gas project is 100% owned by Bass Oil and involves connecting to Cooper Basin infrastructure.
  • The project aims to increase South Australia's domestic production capability.
  • During a production test in 2024, Kiwi 1 achieved significant commercial production rates.
  • The grant supports geoscience and engineering work for constructing a pipeline.
  • The project is expected to contribute to proving a new Triassic gas exploration fairway.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.