Key Highlights

  • Group production averaged 424 barrels of oil per day in October 2026, with total monthly production of 13,146 barrels.
  • Indonesian production reached 10,726 barrels net to Bass, with sales of 10,403 barrels at an average price of US$113.30 per barrel.
  • Total sales Revenue for October was A$1,827,629 net to Bass, up 8.3% on the prior comparison.
  • The Vanessa gas Facility is being recommissioned, with the export pipeline hydro-test crew scheduled to mobilise on 26 November 2026.

Bass Oil Limited (ASX:BAS) has reported that group production and revenue both increased in October 2026. The Australian oil producer holds a majority interest in sixteen Cooper Basin permits, including the 100%-owned Worrior and Padulla oil fields, and a 55% interest in an Indonesian KSO cooperation arrangement. The company reports that it is Debt free.

Production and Sales in October

Group daily oil production averaged 424 barrels of oil per day in October, with total monthly production of 13,146 barrels net to Bass, an increase of 28% in the monthly total. Indonesian production was 10,726 barrels net to Bass, up 37%, and sales of 10,403 barrels were made at an average oil price of US$113.30 per barrel, up 5%. The Tangai-Sukananti oil fields averaged 630 barrels of oil per day gross, equivalent to 346 barrels per day on a Bass share basis, after the Bunian 6 well was brought online in mid-September.

Cooper Basin production totalled 2,420 barrels for the month, averaging 78 barrels per day. Sales from the Cooper Basin were 1,559 barrels at an average price of A$180.52 per barrel, up 9%. The company reported that the Worrior and Padulla facilities both recorded uptimes above 99%. Total sales revenue for October was A$1,827,629 net to Bass. The company’s monthly production chart shows Indonesian output rising from about 7.86 thousand barrels in September to 10.73 thousand barrels in October, while Cooper Basin output held near 2.4 thousand barrels in each of those months.

Bunian 6 and Reserves Work

The Bunian 6 well has been a central focus of recent activity. The M sand in the well is performing well and has provided enough data to allow a reserve assessment. The field team is preparing a zone change to bring the primary TRM3 zone online, a step the company says is designed to maximise oil production during the current period of high oil prices. The subsurface team is updating its geological and reservoir models, with initial results showing that the well exceeded expectations and increased confidence in the westerly extension.

The joint venture has begun planning a self-funded follow-up drilling program of up to two wells in 2027, targeting the Bunian West and Bunian NorthWest structural highs. Reserve estimates are expected to be released with the year-end accounts, which require a reserves update.

Vanessa Gas and Gas Exploration

The recommissioning of the Vanessa gas field is progressing, with documentation to certify the restart of the facility being prepared for regulatory approval. Pressure safety valves have been recalibrated, re-certified and reinstalled, and the onsite electronic controllers have been energised and confirmed to be in working order. A draft Gas Transportation and Processing Agreement from the Cooper Basin joint venture is under review and is expected to be finalised in the current month.

The hydro-test crew for the gas export pipeline is set to mobilise on 26 November 2026 after road upgrade works are completed. The company says the project remains on budget and on schedule for start-up by year end. Bass has also reported progress on the Kiwi 1 field, where two tie-in Options are being evaluated for the FEED study, and on Triassic gas mapping on the trend around the Kiwi gas field following reprocessing of the Dundinna 3D seismic survey.

Closing Perspective

October’s figures show higher Indonesian output following the Bunian 6 start-up, alongside steady Cooper Basin production and progress on the Vanessa gas restart. Revenue outcomes will depend on oil prices and sales timing, both of which can move from month to month. Future updates on the Vanessa start-up schedule, the Bunian 6 reserves estimate and the year-end accounts will indicate how the production gains translate into annual results.