Bass Oil (ASX:BAS) Lifts Output as Bunian 6 Comes Online in Indonesia

Sonal Goyal

23 October 2026 06:52 PM AEDT

Bass Oil (ASX:BAS) Lifts Output as Bunian 6 Comes Online in Indonesia

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Key Highlights

Quarterly oil sales were A$2.82 million, up 4.4%, at an average realised price of US$97.27 per barrel.
Group production rose 20.9% to 23,944 barrels, averaging 260 barrels of oil per day net to Bass.
Bunian 6 came online on 23 September, lifting field production to about 700 bopd from 250 bopd.
Cash was A$2.07 million with no debt, plus A$5.4 million in restricted cash for Cooper Basin rehabilitation obligations.

Bass Oil Limited (ASX:BAS) reported on 23 October 2026 that group oil production for the September 2026 quarter rose 20.9% to 23,944 barrels, with the Bunian 6 well in Indonesia coming online late in the period. Oil sales totalled A$2.82 million, up 4.4% on the June quarter, at an average realised price of US$97.27 per barrel.

Bunian 6 Lifts the Indonesian Result

Production net to Bass averaged 260 barrels of oil per day. At the Tangai-Sukananti KSO, where Bass holds 55% and is operator, the company produced 16,390 barrels, up 30.9%, and sold 15,736 barrels, up 25.3%. Bass realised an average of US$88.84 per barrel in Indonesia, down 8.2%.

Bunian 6 was completed as an oil producer, and was brought online from the M sand on 23 September after testing. Initial production was 797 bopd. Total field production has since stabilised at about 700 bopd, up from 250 bopd, or 385 bopd from 140 bopd on a Bass share basis. The company said the effect on field reserves and production strategy will be quantified after further analysis of the test data.

In the Cooper Basin, the 100%-owned Worrior and Padulla fields averaged 82 bopd, up 2.5%. Sales fell 21% to 6,178 barrels because road closures after local rain affected trucking, and Cooper Basin revenue was A$0.94 million.

Why This Could Matter

Managing Director Tino Guglielmo said Bunian 6 was the most impactful project delivered this year and that the higher production, combined with oil prices above US$100 per barrel, is expected to lift free cash flow through year end and into 2027. The company anticipates the drilling cost will be paid back in cash by January 2027. It also expects revenue from first gas sales from the Vanessa field early in the new year.

Gas Projects in the Cooper Basin

At the 100%-owned Vanessa gas field, the recommissioning project is on budget and on schedule for start-up by year end. September work included a pipeline coating survey that showed no defects, and hydro-testing of the export pipeline is scheduled for November. The company said the field's processing facility and 5-kilometre pipeline give it a route to the east coast gas market.

For Kiwi, GPA Engineering is finalising a pre-FEED study update. Reprocessed Dundinna 3D seismic data is identifying multiple structures on trend with the Kiwi gas field.

Where Things Stand

Bass ended the quarter with A$2.07 million in cash, down from A$3.18 million, which the company attributed mainly to the cost of drilling Bunian 6, and it carries no debt. A final A$54,000 payment on 1 October completed the rehabilitation bond required in South Australia.

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