Bass Oil Limited (ASX:BAS): How Bunian Six Is Changing Indonesian Production

Aditi Sarkar

10 November 2026 03:07 PM AEDT

Bass Oil Limited (ASX:BAS): How Bunian Six Is Changing Indonesian Production

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Highlights

Bunian 6 commenced production on 23 September 2026, increasing output at the Indonesian field.
September-quarter group production reached 23,944 barrels, up 20.9% from the June quarter.
Quarterly oil sales Revenue was A$2.82 million, an increase of 4.4% quarter on quarter.
Bass reported A$2.07 million in cash and A$5.4 million in restricted rehabilitation funds at 30 September 2026.

Bass Oil Limited (ASX:BAS) produces oil in Australia’s Cooper Basin and Indonesia’s South Sumatra Basin, with interests in the Worrior and Padulla fields and the Tangai-Sukananti operation. During the September 2026 quarter, the company brought the Bunian 6 well into production, increased group oil volumes and advanced preparatory work on its Australian gas assets.

Bunian 6 Adds Production in Indonesia

Bass Oil Limited (ASX:BAS) completed Bunian 6 and brought the well online from the M sand on 23 September 2026. Initial production was 797 barrels of oil per day (bopd), with a 1% water cut. Following commissioning, total field production stabilised at approximately 700 bopd, compared with about 250 bopd before the well started.

Bass operates the Tangai-Sukananti arrangement with a 55% interest. Its share of Indonesian production increased 30.9% quarter on quarter to 16,390 barrels in the September quarter, while its share of oil sales was 15,736 barrels. The company stated that further evaluation of Bunian 6 data would inform the field’s reserve assessment and production strategy.

Quarterly Sales and Cash Flow

For the September 2026 quarter, Bass Oil Limited (ASX:BAS) reported group production of 23,944 barrels, an increase of 20.9% from the June quarter. Oil sales revenue rose 4.4% to A$2.82 million, while the average realised oil price was US$97.27 per barrel, 1% lower quarter on quarter. The higher revenue therefore accompanied increased sales volumes despite a modest reduction in realised pricing.

The Cooper Basin Worrior and Padulla fields produced an average of 82 bopd during the quarter. Sales from these Assets were affected by road closures following rain in July, although trucking resumed in August. Bass reported 99% operational uptime at both facilities. The company’s September-quarter operating cash inflow was A$1.169 million, while its cash balance declined to A$2.07 million from A$3.18 million at 30 June 2026, primarily reflecting Bunian 6 drilling expenditure.

Bass Oil Limited (ASX:BAS) also held A$5.4 million in restricted cash for Cooper Basin rehabilitation obligations. That balance is distinct from unrestricted operating cash and cannot be treated as freely available funding. The company reported no Debt at quarter-end, but the timing of further development spending and production receipts remains relevant to its liquidity.

Australian Gas Projects and Execution Milestones

Alongside Indonesian oil production, Bass Oil Limited (ASX:BAS) continued work on recommissioning the Vanessa gas field in the Cooper Basin. September activities included a pipeline coating survey, generator servicing and pressure-safety-valve work. Regulatory documentation was being prepared, and the company maintained a targeted start-up by the end of 2026. This remained a planned milestone, not achieved gas production.

The Kiwi gas project was also progressing through engineering studies. Two potential tie-in Options were under evaluation ahead of further design work and an eventual Investment decision. Separately, interpretation of reprocessed seismic data identified structures along the Kiwi trend.

Key Insights

Bass Oil Limited (ASX:BAS) entered the final quarter of 2026 with Bunian 6 contributing to Indonesian field output and higher quarterly group production. The September results also show the importance of distinguishing unrestricted cash from rehabilitation funds and separating completed production milestones from proposed gas developments. Subsequent operating reports can clarify whether the new production rates are sustained and how the Vanessa and Kiwi projects progress through their remaining technical and regulatory stages.

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