SOUTH SUMATRA BASIN - onshore
BAS 55% and Operator
The Company's acquisition of the Tangai-Sukananti KSO transforms Bass Oil into a profitable oil producer in a prolific oil and gas region. Current production capacity stands at over 600 bopd (100% JV share).
Bass Oil's Gross (55% share) 2P Reserves at 30 June 2017 are assessed to be 1.35 million barrels of oil. In accordance with ASX reporting requirements for fiscal environments that use production share contracts or similar, Bass reports Net 2P Oil Reserves of 0.70 million barrels. Production is expected to continue until mid 2025.
The KSO additionally provides a platform for future growth through low cost development opportunities and value-adding bolt-on acquisition.