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Bass Oil spuds Bunian-5 and drilling begins

The Bunian 5 well in Indonesia was spudded at 4pm Indonesian time yesterday.

Bass Oil Ltd - Bass Oil spuds Bunian-5 and drilling begins
Drilling had reached 40 metres depth early this morning

Bass Oil Ltd (ASX:BAS) has commenced drilling the Bunian-5 oil and gas well within the Bunian Field within the Tangai-Sukananti KSO Project located onshore Indonesia.

The Bunian-5 well is estimated to bring on 750 barrels of oil per day.

The well has reached 40 metres depth early this morning and is estimated to take 30 days to drill and reach a total depth of 1700 metres.

The primary target is expected to be reached at around 1,392 metres depth.

As the well gets deeper, the drill casings get changed to be smaller and smaller.

Bass owns 55% interest in field

The Tangai-Sukananti KSO is located on the island of Sumatra in Indonesia and hosts two oil fields, Bunian and Tangai.

Bass owns a 55% interest in Tangai-Sukananti KSO and is the operators of the project.

The Bunian-1 and Bunian-3ST2 wells are currently in production.

Bunian-5 is modelled to come on line at 750 barrels of oil per day and produce 0.546 million barrels of undeveloped recoverable oil JV share at the primary TRM3SS reservoir level.

Bass has other targets within the Bunian Field it intends to drill after Bunian-5 keeping investors leveraged to ongoing exploration-based news flow.

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