Bass Oil Hits Three Pay Zones at Bunian 6 Tripling Expected Field Output
Key Takeaways
- Bunian 6 intersected oil pay in three reservoirs — pre-drill targets TRM3 and K1, plus an unexpected M sand zone new to the Bunian field — exceeding the original well plan.
- Field production is expected to triple from 250 bopd to 750 bopd (100% JV basis), lifting Bass Oil's 55% operated share from 140 bopd to 410 bopd once the well comes online.
- The M sand is the primary producing zone in the adjacent Tangai oil field, giving geological credibility to what would otherwise be an untested new zone at Bunian.
- A reserve quantification update for the M sand is a near-term catalyst, with well testing and further data analysis still to be completed following the rig move.
- Bass enters this growth phase debt free, with additional drill targets at Bunian West and Bunian North West identified, and Australian East Coast Gas Market entry flagged for late 2026.
Bunian 6 delivers third pay zone and a tripling of current production
Bass Oil Limited has reported a standout well result from its Bunian 6 well in Indonesia, with oil pay confirmed in three separate reservoirs, including an unexpected third zone that has added material upside beyond the original pre-drill plan. The well intersected pay in the two pre-drill targets, TRM3 and K1, and then identified additional oil pay in the M sand at the base of the well. With the well being completed as a tandem producer across all three reservoirs and due to come online shortly after the rig moves off location, field production is expected to climb from 250 bopd to 750 bopd on a 100% JV basis, translating to 140 bopd to 410 bopd on Bass’s 55% operated share. This is a well that outperformed expectations, and the reserve upside from the M sand still has to be fully quantified.
When big ASX news breaks, our subscribers know first
What the M sand discovery means for Bass Oil
A zone with no prior Bunian oil pay intersection, but proven next door
Oil pay had not previously been intersected in the M sand in the Bunian field, making this a new producing zone for the field. What gives investors confidence is that the M sand is the primary producing zone in the adjacent Tangai oil field, so while it is new to Bunian, it is a known, productive geological unit in the immediate vicinity. That proximity substantially reduces the uncertainty around whether the zone can deliver.
The impact on Bunian field reserves will be quantified following further analysis of the data acquired during the evaluation programme and upcoming well testing. That reserve update is a near-term catalyst investors should track closely. Geologically, the Bunian field is a faulted anticline discovered in 1998, situated in the prolific South Sumatra Basin and covered entirely by 3D seismic, providing solid subsurface coverage for ongoing development decisions.
Production and recovery expectations
The key technical figures for Bunian 6 are:
- Initial production rate forecast from TRM3: 500 bopd
- Estimated ultimate recovery (P50, 100% JV basis): 151,000 barrels
- Chance of success (Pg): 80%, based on internal modelling and the performance of nearby wells
- Bass operated interest: 55% | JV partner Mega Adhyaksa Pratama Sukananti Ltd (MAPS): 45%
These estimates are based on internal modelling and performance of nearby wells. Actual results may differ and are subject to drilling and completion outcomes, along with reservoir performance.
| Metric | Detail |
|---|---|
| Well | Bunian 6 |
| Reservoirs targeted | TRM3, K1, M sand |
| Current field production | 250 bopd (100% JV) |
| Expected production post-completion | 750 bopd (100% JV) / 410 bopd (Bass 55%) |
| Estimated ultimate recovery (P50) | 151,000 barrels |
Understanding KSO agreements — what it means for Bass shareholders
A KSO (Kerja Sama Operasi) is an Indonesian production-sharing cooperation agreement that allows an operator to develop an oil field in exchange for cost recovery against production revenue. In practical terms, this means Bass’s drilling expenditure at Bunian 6 is fully cost recoverable against existing production under the KSO terms, so well costs are recovered through production rather than written off. That is a materially different risk profile compared with a stand-alone exploration well with no cost recovery mechanism. Bass holds the 55% operated interest, meaning it controls operational decisions and captures a proportional share of the upside, while JV partner MAPS holds the remaining 45%.
The next major ASX story will hit our subscribers first
What comes next for Bass Oil
Tino Guglielmo, Managing Director
“Bass is very pleased with the Bunian 6 well result. The oil pay identified in the M sand is a welcome bonus and should positively impact field oil recoveries. This result is adding weight to the interpretation of a westerly extension to the Bunian field and offers Bass low-risk production growth at a time of high oil prices. Bunian 6 is the first of several growth projects currently underway in Australia and Indonesia that together will establish the Company as a profitable mid-tier energy company.”
The near-term pipeline of catalysts investors should monitor includes:
- Bunian 6 coming online following the rig move off location (near-term)
- Well testing of the M sand reservoir
- Reserve quantification update following further data analysis
- Additional drill targets identified by the integrated field study: Bunian West and Bunian North West
- Entry into the Australian East Coast Gas Market, flagged for late 2026
Bass enters this growth phase debt free, with the strategic ambition to establish itself as a profitable mid-tier energy company across both its Australian and Indonesian operations.
Get ASX Oil and Gas Alerts Before the Market Moves
Big News Blast delivers FREE breaking ASX energy news directly to your inbox within minutes of release, complete with in-depth analysis already done. Join 30,000+ subscribers who stay ahead of market-moving announcements the moment they hit. Click the “Free Alerts” button at Discovery Alert to start receiving real-time alerts today.