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Bass Oil Ltd

Bass Oil set to start Bunian-5 drilling for major production boost

Bunian-5 will be drilled from the surface location of the Bunian-4 deviated well and initial production is estimated to be 750 barrels of oil per day.

Bass Oil Ltd - Bass Oil set to start Bunian-5 drilling for major production boost
Given Bunian-5 is a development well, Bass is confident in its success

Bass Oil Ltd (ASX: BAS) has confirmed that the PDSI Rig 20/Emsco D2 is mobilising to the Bunian-5 site and will commence drilling activities shortly.

Given Bunian-5 is a development well, Bass is confident in its success.

Bunian-5 is expected to double the production at the company’s producing Tangai-Sukananti KSO onshore Sumatra, Indonesia.

Schematic geological cross section showing the proposed Bunian-5 well location

Optimal drilling locations, including Bunian-5, have been identified as part of the outcome of the integrated field studies in the KSO.

Bass commissioned the studies following the acquisition of its 55% stake in the license, which includes the current producing Bunian and Tangai Oil Fields.

Background

Tangai-Sukananti KSO is in the mature oil and gas producing South Sumatra Basin and includes the Bunian and Tangai Oil Fields which lie along an extensive trend of large oil fields north-west and southeast of the KSO.

Bass engaged UNPAD in Indonesia, an independent petroleum geoscience and engineering consultancy associated with the Padjadjaran University, to conduct a Plan Of Field Development (POFD) being a major, multi-disciplinary, integrated study over the entire Tangai-Sukananti KSO.

This project was complemented by internal geological and geophysical resources.

The outcome of the study informed a full re-assessment of the Oil in Place, Reserve and Resource Potential of the asset, to optimize drilling locations and field development.

Bunian-5 will be drilled from the surface location of the Bunian-4 deviated well. Initial production from the primary objective TRM3SS is estimated to be 750 barrels oil per day.

Depth Map at primary objective TRM3SS level showing proposed and current wells

Bunian-5 has been approved by the Indonesian regulator and is shortly to spud.

A successful Bunian-5 will accelerate drainage of the oil field within the KSO contract term of July 2025.

It is estimated to take 30 days to reach a total depth of about 1700 metres and in the success case, will be completed and brought into production immediately.

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