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Bass Oil in trading halt with news pending from Bunian-5 well in Indonesia

The trading halt will remain until Wednesday, October 25, or when an announcement is released.

Bass Oil Ltd - Bass Oil in trading halt ahead of news regarding the Bunian-5 well in Indonesia
The Bunian-5 well has already been drilled to 1,424 mKB

Bass Oil Ltd (ASX:BAS) is in a trading halt ahead of news regarding the Bunian-5 well in the Tangai-Sukananti KSO in the prolific oil and gas region of South Sumatra, Indonesia.

The trading halt will remain in place until the beginning of trade on Wednesday, October 25, or when an announcement is made to market – whichever occurs earliest.

Bass Oil's shares last traded at 0.3 cents.

Bunian-5 drilling program

Last week the company drilled the Bunian-5 well to 1,424 mKB (metres below Kelly Bushing) towards the core point above the first primary target, the TRM3 sandstone.

The drilling rig ran and cemented the 9-5/8” intermediate casing and began drilling the 8-1/2” production section of the well.

In July 2019 the Tangai-Sukananti KSO was producing on average 750 barrels of oil per day from four wells.

Bunian-5 is a vertical well being drilled from the surface location of the Bunian-4 deviated well.

The well will be drilled to a total depth of 1,700 mKB and if successful, will be completed and brought into production immediately.

Quick facts: Bass Oil Ltd

Price: 0.003 AUD

ASX:BAS
Market: ASX
Market Cap: $10.03 m
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