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Bass Oil in trading halt ahead of Bunian-5 well flow test results

The trading halt will remain in place until Wednesday, November 6 or when an announcement is released.

Bass Oil Ltd - Bass Oil is in trading halt ahead of Bunian-5 well flow test results
Bunian-5 is modelled to come online at 750 barrels of oil per day

Bass Oil Ltd (ASX:BAS) is in a trading halt ahead of an announcement regarding the result of flow testing of Bunian-5 well in the Tangai-Sukananti KSO in Indonesia.

The trading halt will remain in place until the beginning of normal ASX trading on Wednesday, November 6, or when an announcement is made to the market, whichever occurs earliest.

Bunian-5 potential 

Last month the company announced that it was confident the Bunian-5 well had the potential to double overall oil & gas production from Bunian field in the prolific South Sumatran oil & gas region of Indonesia.

The well intersected the two primary reservoirs, TRM3 and K sandstones, at the same or slightly higher levels than at Bunian 3 ST2, the most prolific well in the field.

Both zones also exhibited oil shows comparable to Bunian 3 ST2 with 5 metres of net oil pay in each zone.

Quick facts: Bass Oil Ltd

Price: 0.0015 AUD

Market: ASX
Market Cap: $5.01 m

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