Bass Basin

 

 

In the Bass Basin, the Company holds a 100% interest in permits T/42P and T/43P covering the Durroon Sub-basin, approximately 15 km off the north coast of Tasmania. These permits cover approximately 6140 sq km, with water depths ranging from 35 to 80 metres. 

 

The Targa Seismic Survey is scheduled to be recorded in May or June 2008. The survey will acquire  a total of 1100 km of 2D seismic across these Durroon Sub-basin permits. This will fulfil the Year 3 permit obligation for both of these tenements. The Targa survey is part of a multi-operator consortium conducting 2D seismic acquisition in various permits in southeast Australia.

 

There was little exploration in this area in the years prior to BAS being awarded these permits in 2006. The Company views the area as an under-explored, 'grass roots' exploration opportunity. The Bass Basin area is now fully permitted, indicating increasing industry interest in this region. Beach Petroleum has farmed-in to drill in the neighbouring permits in 2008. 

 

During its initial studies, BAS collected all available data in the area, including reprocessed seismic data. Interpretation of this integrated database indicates both structural and stratigraphic trapping potential at several levels, and large volume-potential leads have been identified. These leads are well located to receive hydrocarbon charge from postulated nearby 'kitchen' areas.