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Bass Oil Limited (ASX:BAS)

ALERT: Price-sensitive ASX Announcement for BAS
Current share price for BAS : $0.046 -0.003 (-5.15%)+
Announcement
Release
17 Jun 2026 10:12AM
Price at Release
$0.049
Full Release
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Summary
Bass Oil Limited (ASX:BAS), an Australian-listed oil producer, announced the completion of its acquisition of a 100% interest in the Vanessa Gas Field. This acquisition includes a shut-in gas production well, a gas processing facility, and a 5km gas pipeline connected to the Cooper Basin transmission network. Regulatory approval from the South Australian Department of Energy & Mining was received, marking the final step before transfer of ownership. The company plans to recommission the well and facilities, with first gas sales expected by late 2026. The acquisition is a strategic move to enter the East Coast Gas Market and could potentially unlock further gas resources in their 100% owned PEL 182. Engineering studies for field re-instatement are underway, and the company aims to prove up additional gas reserves in formations accessed by the existing well.
Key Points
  • Bass completes acquisition of Vanessa Gas Field
  • Includes shut-in gas well, processing facility, and 5km pipeline
  • Regulatory approval received from South Australian DEM
  • First gas sales expected by late 2026
  • Potential to unlock gas resources in PEL 182
  • Engineering studies for field re-instatement underway
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.