Bass Oil Reports A$570K April Revenue with 226 Barrels Daily Output

Steady Production Amid Operational Challenges

Bass Oil Limited (ASX:BAS) maintained a steady production output in April 2025, averaging 226 barrels of oil per day across its Australian and Indonesian assets. The company reported total sales revenue of A$570,750 (approximately US$366,000), reflecting consistent operational performance despite some setbacks.

In the Cooper Basin, production from the Worrior and Padulla oil fields, both wholly owned by Bass, reached 2,622 barrels for the month. However, output was slightly down by 6% due to downtime caused by a pump failure at Worrior. The company swiftly addressed this by installing a spare pump, restoring normal production levels. Notably, oil sales from the Cooper Basin increased by 38% compared to March, as inventory levels normalized following heavy rains earlier in the year. The average sales price achieved was a robust A$107.84 per barrel.

Strategic Move into Gas with Vanessa Acquisition

A significant highlight of Bass Oil's update is the pending acquisition of a 100% interest in the Vanessa gas field, located within permits PPL 268 and PRL 135, from Beach Energy. This transaction, subject to regulatory approvals, includes a shut-in production well, processing facilities, and a pipeline linking the field to the Cooper Basin gas network. This acquisition marks Bass's first foray into gas production, aligning with Australia's evolving energy landscape and the growing east coast gas market.

The Vanessa field holds conventional gas reserves in the Epsilon formation, with promising untapped potential in deeper formations that could be unlocked through advanced fracture stimulation techniques. This positions Bass not only to diversify its portfolio but also to capitalize on emerging opportunities in gas and deep coal resource commercialisation.

Advancing Development and Exploration Initiatives

Bass is progressing a deep coal commercialisation study in partnership with SLB, leveraging the Vanessa well as a reference point. The upcoming phase will focus on designing fracture stimulation to economically exploit this resource, potentially accelerating field testing without the need for costly new drilling.

Meanwhile, development plans for the Kiwi gas field continue, with ongoing discussions around transportation and processing options. Bass is also preparing to reprocess seismic data to better image hydrocarbon reservoirs, a move expected to enhance exploration success.

Indonesian Operations and Drilling Delays

On the international front, Bass's Indonesian Tangai-Sukananti oil fields saw a 7% increase in production to 4,152 barrels for April, despite an 8% drop in average oil prices to US$63.60 per barrel. However, development drilling at the Bunian 6 well has been delayed due to rig availability issues, with ongoing negotiations to secure a drilling slot with Pertamina EP.

Overall, Bass Oil's April update reflects a company balancing steady production with strategic growth initiatives, particularly its entry into gas production and deep coal resource development, while managing operational challenges in both Australia and Indonesia.