Bass Oil Hits Pay at Bunian 6 to Triple Production to 750 bopd
Bass Oil has intersected oil pay at its Bunian 6 development well in Indonesia, a completion-stage success that positions the company to triple production at the Tangai-Sukananti KSO. The well hit the TRM3 and K1 sandstone reservoirs in line with pre-drill expectations, confirmed by wireline logs. Field production is expected to rise from 250 bopd to 750 bopd (100% share), lifting Bass’s share from 140 bopd to 410 bopd as Operator and 55% interest holder. The well is expected online early September 2026 after the rig moves off location. Bass remains debt free.
Bunian 6 well results confirm oil pay
The well reached total depth of 1,807.9 metres on Monday 24 August 2026 prior to the wireline logging program. Oil pay was intersected in the primary TRM3 and K1 sandstone reservoirs, the two target zones that support existing field production.
Remaining operational steps follow a defined sequence:
- Complete remaining logging runs
- Run and cement 7″ production casing
- Complete the well as a tandem oil producer from the TRM3 and K1 reservoirs
- Rig moves off location, well comes online early September
The well also intersected secondary targets — the GRM and TRM0 reservoirs — both of which have produced or shown oil in other field wells. These zones provide optionality for future intervention work if primary reservoir performance warrants it.
This is a completion-stage success. The geological risk was retired when logs confirmed oil pay in the target sands. What remains is execution risk around casing, cementing, and perforation — standard well completion work that the operator controls.
| Metric | Current | Post Bunian 6 | Bass Share (55%) |
|---|---|---|---|
| Field production (bopd) | 250 | 750 | 140 to 410 |
| TRM3 forecast initial production | — | 500 bopd | — |
| Estimated ultimate recovery (P50, 100% JV) | — | 151,000 barrels | — |
| Chance of success (Pg) | — | 80% | — |
The 500 bopd initial rate, 151,000 barrel estimated ultimate recovery, and 80% chance of success are based on internal modelling and performance of nearby wells. Actual results may differ subject to drilling, completion, and reservoir outcomes.
When big ASX news breaks, our subscribers know first
Why cost recovery makes this a low-risk growth play
Bass’s drilling expenditure is fully cost recoverable against existing production under the terms of the KSO (Kerja Sama Operasi), the production-sharing contract structure used in Indonesia.
Cost recovery means the operator recovers its capital spending — in this case, drilling and completion costs for Bunian 6 — from a designated portion of gross production revenue before profit is split between the parties. In practical terms, Bass funds the well upfront but recoups that expenditure from the field’s existing cash flow before splitting net revenue with its joint venture partner.
This structure reduces financial risk for shareholders. The company is not betting future profitability on a single well outcome — it is advancing a field development plan where the cost base is recovered incrementally from a producing asset.
Joint venture participants in the Tangai-Sukananti KSO are Bass Oil Sukananti Ltd (Operator, 55%) and Mega Adhyaksa Pratama Sukananti Ltd (MAPS, 45%). Bass operates the permit and holds majority interest, giving it control over drilling schedules, completion design, and field development decisions.
Inside the Tangai-Sukananti KSO and the Bunian field
The Tangai-Sukananti KSO sits in the prolific South Sumatra Basin, a mature hydrocarbon province hosting the Bunian and Tangai oil fields. The permit lies along an extensive trend of large oil fields running north-west and south-east of the KSO area.
The Bunian field was discovered in 1998. It is a faulted anticline — a structural trap where layers of rock have been folded upward and offset by faults, creating compartments that hold oil. The entire KSO area is covered by 3D seismic, providing high-resolution subsurface imaging that guides well placement and reduces geological uncertainty.
Bunian 6 is located near the crest of the structure, the highest point of the anticline where oil accumulates. The well is designed to accelerate drainage of the field by targeting reserves in the structural high that existing wells may not efficiently access.
An integrated field study — including reprocessing of the Sukananti 3D seismic survey and advanced seismic attribute analysis — de-risked Bunian 6 and identified follow-on drilling targets: Bunian West and Bunian North West. These prospects sit on the same permit and share the same reservoir characteristics, geological setting, and infrastructure access. That is a defined pipeline of development opportunities with significantly lower cost and execution risk than greenfield exploration.
Tino Guglielmo, Managing Director
“Bass is pleased with the Bunian 6 well result. The recent performance of the Bunian field offered an opportunity for low-risk production growth at a time of high oil prices. This well is the first of several growth initiatives currently under development in Australia and Indonesia as Bass aims to establish itself as a profitable mid-tier energy company.”
The next major ASX story will hit our subscribers first
What comes next for Bass Oil
Bunian 6 is the first of several growth initiatives the company has flagged across its Australian and Indonesian asset base. The company has stated it will enter the Australian East Coast Gas Market in late 2026 and is developing three gas projects. These are company-stated plans, subject to final investment decisions, regulatory approvals, and market conditions.
In the Cooper Basin, Bass holds 100% ownership of the Worrior and Padulla oil fields plus interests across 14 permits. The combination of producing oil assets in Indonesia, operated oil fields in Australia, and gas development projects under evaluation positions the company across multiple revenue streams and commodity exposures.
The debt-free balance sheet supports this expansion path without requiring dilutive equity raises or term debt facilities to fund near-term capital programs.
Near-term catalysts for Bass include:
- Bunian 6 online early September 2026 — first production and confirmation of initial flow rates
- Additional Bunian targets under evaluation — Bunian West and North West prospects identified in recent field studies
- East Coast Gas Market entry targeted late 2026 — timing subject to project development schedules and regulatory milestones
What this tells you is that Bass is executing a field development program on a producing asset with visible line of sight to multiple follow-on wells, rather than relying on high-risk exploration in frontier acreage. The operational leverage comes from incremental production additions on existing infrastructure in a cost-recoverable structure.
Want the Next ASX Energy Winner in Your Inbox?
Join 30,000+ investors receiving FREE breaking ASX energy news within minutes of release, complete with in-depth analysis. Click the “Free Alerts” button at Discovery Alert to get market-moving oil and gas announcements delivered straight to your inbox the moment they break.