Bass Oil’s Bunian 6 well in Indonesia has uncovered a previously untested third oil pay zone, set to triple production and boost field reserves potential.
- Bunian 6 intersects oil pay in three reservoir zones
- Newly identified M sand zone adds low-risk production upside
- Production expected to rise from 250 to 750 barrels per day
- Well completion imminent with Bass holding 55% operated interest
- Potential reserve impact pending further testing and analysis
Third Pay Zone Emerges at Bunian 6
Bass Oil Limited (ASX:BAS) has revealed a significant development at its Indonesian Bunian 6 well, identifying oil pay in a third reservoir horizon; the M sand; alongside the expected TRM3 and K1 sandstone reservoirs. This newly discovered zone, not previously intersected in the Bunian field but a primary producer in the adjacent Tangai field, could materially enhance recoverable reserves once testing is complete.
Production Set to Triple with Well Completion
The Bunian 6 well is being completed as a tandem producer from all three reservoirs and is poised to come online shortly after the drilling rig departs. Current field production sits at around 250 barrels of oil per day (bopd) on a 100% basis, with Bunian 6 expected to boost this to approximately 750 bopd. Bass Oil’s 55% operated interest translates to a production increase from 140 bopd to 410 bopd, marking a substantial uplift in Indonesian output.
Strategic Implications for Bass Oil’s Growth
Managing Director Tino Guglielmo described the M sand discovery as a "welcome bonus" that strengthens the case for a westerly extension of the Bunian field. This low-risk production growth opportunity arrives amid elevated oil prices, underpinning Bass Oil’s ambition to transition into a profitable mid-tier energy company. The Bunian 6 well is the first of several growth projects underway in both Australia and Indonesia, signalling a step-change in the company’s operational scale.
Technical and Operational Context
The Tangai-Sukananti KSO, where Bunian 6 is located, lies within the prolific South Sumatra Basin and benefits from comprehensive 3D seismic coverage. The well targets multiple reservoir levels, with initial production from the TRM3 reservoir forecast at 500 bopd and an estimated ultimate recovery of 151,000 barrels (P50, 100% JV basis). While the chance of success is modelled at 80%, actual outcomes depend on drilling, completion, and reservoir performance.
Importantly, Bass’s drilling costs for Bunian 6 are fully recoverable under the KSO terms, mitigating capital risk. The joint venture comprises Bass Oil Sukananti Ltd as operator with 55% interest and Mega Adhyaksa Pratama Sukananti Ltd holding 45%.
Future Development Opportunities Highlighted
Beyond Bunian 6, integrated field studies including seismic reprocessing and advanced attribute analysis have identified additional drill targets such as Bunian West and Bunian North West. These prospects could further expand the field’s production profile, reinforcing Bass Oil’s growth trajectory in the region.
Bottom Line?
The discovery of the M sand pay zone at Bunian 6 offers Bass Oil a low-risk lever to triple Indonesian output, but the true reserve impact hinges on upcoming well tests and reservoir performance.
Questions in the middle?
- How will well testing validate the productivity of the newly identified M sand zone?
- What timelines and capital requirements will Bass Oil face to develop additional Bunian prospects?
- Could the production uplift at Bunian 6 materially shift Bass Oil’s valuation and strategic positioning?