Bass Oil's Kiwi Gas Field Development

Bass Oil (ASX:BAS), an Australian oil producer, has declared the commercial viability of its Kiwi gas field in the Cooper Basin. Recent flow tests from the Kiwi-1 well indicate high production potential. The field's ATAX NPV is estimated at $36 million with a planned $16 million investment. This development could more than double the company's current reserves.

Summary and Future Outlook for Bass Oil

Bass Oil (ASX:BAS) has announced promising results from its Kiwi gas field, with high production rates and low impurities. The field's development is seen as a strategic move to enhance the company's production capabilities, aligning with its goal to become a mid-sized oil and gas producer. With a $36 million ATAX NPV and a $16 million investment plan, Bass Oil is moving towards a Final Investment Decision and exploring funding options to expedite development. The company aims to integrate the Kiwi field into the Cooper Basin gas network and consider early condensate sales. This venture is positioned to address expected gas shortages in the Australian east coast market, contributing to Bass Oil's growth strategy.

Executive Commentary on Kiwi Gas Field

The Kiwi gas field's promising test results mark a significant step for Bass Oil. The potential of this asset aligns with our growth strategy to enhance production capabilities and shareholder value,' said Managing Director Tino Guglielmo.