logo-loader

Bass Strait Oil Company focusing on onshore Otway Basin shale play

Published: 14:40 27 Jul 2012 AEST

no_picture_pai

Bass Strait Oil Company (ASX: BAS) has built up an acreage position in the onshore Otway Basin with close proximity to infrastructure, allowing any discoveries to be quickly commercialised.

The net 2315 square kilometre position over the Victorian section of the Casterton unconventional shale play consists of the newly awarded PEP 175, the renewal of PEP 167 for another five years as well as the acquisition of a 15% interest in PEP 150 from Cooper Energy (ASX: COE).

This allows Bass Strait Oil to establish a balanced portfolio of conventional and unconventional prospects and leads.

The permits straddle the main gas pipelines which deliver domestic gas to the markets of both South Australia and Victoria, allowing any gas discovery to be quickly commercialised.

Oil discoveries will also benefit from the easy terrain with good allweather road access and a
relatively short transport distance via sealed highway to the Geelong refinery.

Bass Strait Oil had in April regained full control of PEP 167 after Interra Resources decided to pull out of the joint venture over the permit.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

4 hours, 23 minutes ago