PEP 150: BAS 15%

Bass Oil has for a 15% interest in PEP 150, operated by Beach Energy. The permit was granted in August 2013, after lengthy Native Title negotiations. The permit contains the 1989 Lindon and 1995 Digby oil discoveries. The permit is considered to be prospective for both oil and gas in the Sawpit and Casterton Formations, in both conventional and unconventional plays. However minimal activity and expenditure has been undertaken in the permit due to a Victorian State Government moratorium on onshore exploration. A permanent ban on the use of fracture stimulation was introduced in 2016. The Joint Venture is evaluating its position and Bass Oil is reviewing the future fit of this permit in it's portfolio.