Bass Oil Limited (ASX:BAS): Bunian Well Results Shape Indonesian Production Plans

Aditi Sarkar

16 October 2026 10:32 PM AEDT

Bass Oil Limited (ASX:BAS): Bunian Well Results Shape Indonesian Production Plans

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Highlights

Bunian-6 encountered oil pay in the TRM3 and K1 sandstone reservoirs during August drilling.
Further analysis identified an M Sand oil zone, broadening the potential production contribution.
Bass holds a 55% operating interest in the Tangai-Sukananti operation in South Sumatra.
The company initially targeted an increase in gross Indonesian field production from 250 to 750 barrels daily.
Australian interests include the Worrior and Padulla oil fields and the developing Vanessa and Kiwi gas opportunities.

Bass Oil Limited (ASX:BAS) produces oil in Indonesia and Australia while advancing natural gas opportunities in the Cooper Basin. Its portfolio includes a 55% operated interest in the Tangai-Sukananti oil operation in South Sumatra and wholly owned Worrior and Padulla oil fields. Bunian-6 is central to its current Indonesian production plans.

Bunian-6 Broadens the Reservoir Picture

A 26 August 2026 announcement confirmed that Bunian-6 had intersected oil pay in its targeted TRM3 and K1 sandstone reservoirs. The well reached a total depth of 1,807.9 metres before wireline evaluation. Bass Oil Limited (ASX:BAS) planned to install production casing and complete the well to produce from both intervals, using existing infrastructure. The announcement identified early September as the expected timing for bringing the well online, rather than reporting that sustained commercial production had already been established.

Subsequent analysis and testing also drew attention to an additional M Sand interval. The supplied research describes this as a third oil-bearing zone not initially included in the principal development case. The additional interval could contribute production, although short tests cannot establish sustained rates. Longer operating data are required to determine the contribution that Bunian-6 can consistently deliver.

Production Ambitions and Ownership Economics

The company’s August update set out an ambition to raise Indonesian field output from 250 barrels of oil per day to 750 barrels per day on a 100% working-interest basis. Bass Oil Limited (ASX:BAS) stated that its attributable share of production would reflect its 55% interest. This is a target rather than a confirmed sustained output figure, and eventual results depend on well performance, surface facilities and operational uptime.

Gross volumes should not be confused with Bass’s net entitlement. The production-sharing structure and eligible development expenditure also affect the amount of cash that reaches the parent business. The August announcement said the Bunian-6 expenditure was recoverable against production under the relevant operating arrangement, an important qualification when evaluating the project’s economics.

Australian Assets Offer a Separate Development Path

Indonesia is not the whole operating story. Bass Oil Limited (ASX:BAS) also owns the Worrior and Padulla oil fields in South Australia and holds additional Cooper Basin interests. Its May 2026 investor presentation outlined the planned restart of gas sales from Vanessa and work toward commercialising the Kiwi gas discovery. These opportunities differ from Bunian-6 because gas production needs suitable processing, transport access and customer arrangements before it can support recurring sales.

Vanessa has a well, processing equipment and pipeline connection, but these do not establish commercial production. Engineering work, approvals and project funding remain relevant to the development timetable.

Operating Constraints and Key Disclosures

Bass Oil Limited (ASX:BAS) faces exposure to oil-price movements, well decline, drilling performance and costs across two jurisdictions. Results from early well tests can differ from steady-state production. In Australia, gas projects may also require further investment before first sales. Actual sales remain an important test.

Key Insights

The Bunian-6 programme has added identifiable oil-bearing intervals to Bass Oil Limited’s (ASX:BAS) Indonesian development plan. The main indicators in subsequent releases will be stabilised output, Bass-attributable production, the contribution of each completed zone and evidence that volumes translate into cash receipts. Separately, the Vanessa and Kiwi programmes provide a longer-dated route to broadening the revenue base, subject to further commercial and operational milestones.

FAQs

Q: What is Bass Oil Limited (ASX:BAS) developing at Bunian-6?

A:A development well in South Sumatra intended to increase production from the Tangai-Sukananti operation.

Q: What reservoirs were identified in the drilling updates?

A:The TRM3 and K1 sandstones were confirmed in August, with an additional M Sand interval described later.

Q: Does the 750-barrel target represent Bass’s net production?

A:No. It is a gross field target; Bass holds a 55% operated interest.

Q: What Australian projects are relevant to Bass Oil Limited (ASX:BAS)?

A:The Worrior and Padulla oil fields, plus gas development work involving Vanessa and Kiwi.

Q: Which updates matter after well testing?

A:Sustained production rates, completed reservoir performance, cash generation and progress on Australian gas sales.

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