Bass Oil’s Triassic Study Uncovers New Commercial Hub Potential at Kiwi Gas Field

• Identification of new structural features north and south of Kiwi gas discovery
• Kiwi gas characterized by low CO2 and high condensate and LPG yields
• Evidence of a local hydrocarbon source kitchen in the Arrabury Trough
• Bass holds dominant acreage on western flank of Arrabury Trough
• Ongoing farm-in discussions and plans for seismic reprocessing and pipeline development

Expanding Horizons in the Cooper Basin

Bass Oil Limited has unveiled compelling results from its integrated Triassic gas study focused on its northern Cooper Basin assets. Following the successful production test at the Kiwi gas field, the study has identified additional structural features both north and south of the discovery well, pointing to the potential emergence of a new commercial hub centered on Kiwi.

This development is particularly significant given the distinctive qualities of the Kiwi gas, which boasts one of the highest condensate to gas ratios recorded in the Cooper Basin, coupled with exceptionally low carbon dioxide content. These characteristics not only enhance the gas’s market value but also suggest a more complex geological setting than previously understood.

A New Hydrocarbon Kitchen in the Arrabury Trough

Geochemical analysis indicates that the hydrocarbons at Kiwi likely originate from a local source kitchen within the Arrabury Trough, a departure from the traditional Patchawarra Trough source. This new source is thought to be lacustrine or marine in origin, with high organic content shales deposited in a saline, tidal-influenced environment. This discovery upgrades the prospectivity of the northern Cooper Basin, as it implies that hydrocarbons are migrating from this newly identified kitchen towards Bass’s acreage on the Basement Terrace.

The study’s mapping reveals multiple anticlinal structural trends and discrete channel belt sands that may act as stratigraphic traps, potentially increasing the size and commercial viability of the reservoirs beyond structural closures alone. Contingent resource estimates for Kiwi range broadly, reflecting the early stage of assessment but underscoring significant upside potential.

Strategic Moves and Future Development

Bass Oil is actively progressing farm-in discussions with third parties, aiming to leverage its dominant position on the western flank of the Arrabury Trough. Plans are underway to reprocess existing 3D seismic data to better delineate prospects and reduce exploration risk. Additionally, a proposed pipeline connecting Kiwi to existing Cooper Basin infrastructure is expected to lower development costs and facilitate commercialisation of the field and surrounding prospects.

With a contingent resource net present value estimated at around A$24 million for Kiwi alone, the company is positioning itself to unlock further value from this emerging Triassic play. Continued geochemical testing and seismic analysis will refine understanding of the source rocks and reservoir potential, guiding future drilling and development decisions.

Overall, Bass Oil’s Triassic study marks a pivotal step in expanding the company’s footprint in the Cooper Basin, highlighting a promising new frontier for high-value gas production with attractive liquids content.

Bottom Line?

Bass Oil’s evolving Triassic play at Kiwi could reshape northern Cooper Basin dynamics, but key development milestones remain ahead.

Questions in the middle?

• How will ongoing farm-in negotiations influence Bass Oil’s capital and operational plans?
• What timeline is expected for pipeline construction and first commercial gas sales from Kiwi?
• Will further seismic reprocessing confirm additional large-scale prospects in the Triassic play?