Bass Oil’s Bunian 6 Well Set to Triple Indonesian Output to 750 bopd

Bunian 6 Well Achieves Key Milestone

Bass Oil Limited (ASX:BAS) has confirmed that its Bunian 6 well in Indonesia’s Tangai-Sukananti KSO has intersected oil pay consistent with pre-drill expectations in the TRM3 and K1 sandstone reservoirs. The well reached a total depth of 1807.9 metres on 24 August before commencing wireline logging. Following this, the rig will run and cement production casing and complete the well as a tandem producer targeting both reservoirs.

The well is expected to come online in early September, with initial production forecast to triple the current field output from 250 barrels of oil per day (bopd) to 750 bopd on a 100% joint venture basis. Bass Oil’s 55% share of production is projected to increase from 140 bopd to 410 bopd, reinforcing its role as operator and majority interest holder in the permit.

Strategic Growth in Indonesia Amid High Oil Prices

Managing Director Tino Guglielmo highlighted the well’s significance, noting that Bunian 6 represents a low-risk production growth opportunity at a time of elevated oil prices. He described the well as the first of several growth initiatives underway in both Australia and Indonesia, aimed at establishing Bass Oil as a profitable mid-tier energy company.

The Bunian Field, discovered in 1998, sits within the prolific South Sumatra Basin and benefits from comprehensive 3D seismic coverage. The field contains oil across three reservoir levels, with Bunian 6 targeting the primary TRM3 and K1 sandstones while also intersecting secondary reservoirs that have shown oil in other wells.

Cost-Effective Development Under KSO Agreement

Bass Oil’s drilling expenditure for Bunian 6 is fully cost recoverable against existing production under the terms of the KSO with joint venture partner Mega Adhyaksa Pratama Sukananti Ltd (45%). This arrangement mitigates upfront capital risk and aligns with Bass’s debt-free status and value creation strategy.

Internal modelling estimates an initial production rate of 500 bopd from the TRM3 reservoir alone, with an expected ultimate recovery of 151,000 barrels of oil on a P50 basis (100% JV share). The company assigns an 80% chance of success to these forecasts, acknowledging that actual outcomes depend on drilling and reservoir performance.

The well’s location near the crest of the structure is designed to accelerate oil drainage, with further drilling targets identified nearby, including Bunian West and Bunian North West. These prospects could provide additional upside if development proceeds.

Implications for Bass Oil’s Production Profile

This development follows Bass Oil’s recent operational momentum, including a 132% surge in quarterly oil sales revenue and the completion of the Vanessa gas field acquisition in the Cooper Basin. The Bunian 6 well’s commissioning is poised to materially lift the company’s Indonesian production, complementing its Australian assets and gas project ambitions.

The timing of production ramp-up in early September will be a key milestone to watch, as it will provide the first tangible data on the well’s performance and its contribution to group output. Given the company’s stated aim to become a mid-tier player, the success of Bunian 6 will be a critical proof point for its growth strategy.