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.