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Bass Oil Limited (ASX:BAS)

ALERT: Price-sensitive ASX Announcement for BAS
Current share price for BAS : $0.060 -0.006 (-9.09%)+
Announcement
Release
28 Sep 2026 9:34AM
Price at Release
$0.066
Full Release
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Summary
Bass Oil Limited announced that the Bunian 6 well in its Indonesian KSO has been brought online and has lifted Bunian field production to more than 800 barrels of oil per day on a 100% share basis, up from 250 bopd and above expectations, with output expected to rise to 1,000 bopd once additional trucking capacity is available. Bunian 6 was completed and placed on production from the newly discovered M sand oil pool to assess reserve potential, while test results from the TRM3 and K1 zones were in line with expectations. The company said the well result supports increased field reserves, creates a future drilling target at Bunian West, and should significantly improve free cash flow during a period of high oil prices. Bass will use drilling and evaluation data to update reservoir models and quantify reserves and future development opportunities; Bunian 6 was identified through an integrated field study, sits near the crest of the structure to accelerate field drainage, and forms part of a KSO in which Bass Oil Sukananti Ltd is operator with a 55% interest.
Key Points
  • Bunian field production increased to over 800 bopd from 250 bopd after Bunian 6 was commissioned.
  • Production is forecast to increase to 1,000 bopd on a 100% share basis when additional trucking resources become available.
  • Bunian 6 was brought online from the newly discovered M sand to evaluate reserve potential.
  • Production test results from the TRM3 and K1 zones were as expected.
  • Bass said the M sand discovery is expected to increase field reserves and support future drilling at Bunian West.
  • The company will update reservoir models using data from the Bunian 6 drilling and evaluation program.
  • Bunian 6 was identified as a development location through an integrated field study that also highlighted Bunian West and Bunian Northwest.
  • The Bunian Field contains oil at three reservoir levels, with production planned sequentially from M sand, TRM3 and K1.
  • Internal modelling had forecast initial production of 500 bopd and P50 ultimate recovery of 151,000 barrels from the TRM3 on a 100% JV basis.
  • Bass Oil Sukananti Ltd is operator of the KSO with a 55% interest, alongside MAPS with 45%.
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.