GIPPSLAND BASIN - offshore

Vic/P68, BAS 100% and Operator

Permit Vic/P68 is located in the north-eastern Gippsland Basin, approximately 20 kilometres south of the Victorian Coast.

This permit provides Bass Oil with exposure to the extension of two proven gas producing trends: The Rosedale Fault system sets up prospects analogous to the Longtom Gas Field. Further south, a second fault system trend extension is analogous to the Basker/Mantra/Gummy Oil and Gas Fields. A number of large prospects have been defined on modern NOMB 3D seismic data as shown. The permit and prospects are strategically positioned with respect to near future development plans at the Sole Gas Field.

Additionally this permit contains the small Leatherjacket Oil discovery (Exxon, 1986) which together with numerous look-alike leads presents a low cost opportunity to test for a commercial oil cluster development in shallow water, nearshore Gippsland Basin. Bass Oil is actively seeking investors to monetise this asset or become a Joint Venture partner to assist with future work commitments in Vic/P68.

vic/p68