Bass Oil Limited (ASX: $BAS) Kiwi 1 Extended Production Test (EPT) Update

Bass Oil Limited (ASX: $BAS) has announced the commencement of the Kiwi 1 Extended Production Test (EPT) to confirm the potential field size and gas composition. The company has received all regulatory approvals and long lead equipment, with the workover rig contract being finalized for mobilization to the site by the end of April.

Executive Commentary on Kiwi 1 Extended Production Test

The Kiwi 1 EPT is a key milestone for Bass' growth plans in the Australian gas market. The main objective of this test is to gather the data required to confirm commerciality and to upgrade the potential of the surrounding prospects and leads. We have received a number of enquires from third party gas wholesalers interested in contracting gas from Kiwi and we will be running these negotiations in parallel to enable us to monetize the gas once the test is finalized and it demonstrates the commercial potential of the field.

Summary of Kiwi 1 Extended Production Test Announcement

Bass Oil Limited (ASX: $BAS) has announced the commencement of the Kiwi 1 Extended Production Test (EPT) to confirm the potential field size and gas composition. The company aims to upgrade the potential of the surrounding prospects and leads based on the results of the test. With the successful test at Kiwi, the company may enter the eastern states' gas market, providing a pathway for growth in the Australian gas sector. The results of the test are expected to be known within 60 days of commencement, with commercial gas offtake agreements to be negotiated thereafter. Bass Oil Limited is focused on leveraging its competitive strengths to create value and expand production in the Cooper Basin and South Sumatra, with a clear commitment to growth and value creation.