Bass: Tangai-Sukananti KSO operations update

(October 14, 2019)-- Bass Oil Limited is pleased to announce that since the Bunian-5 well was spudded on 24 September 2019 the rig has drilled to 1,424 mKB (-1,395 mSS (Sub Sea)), towards the core point above the first primary target, the TRM3 sandstone. This morning the rig was drilling to the core point prior to pulling out of the hole to pick up the core barrel to cut the core over the pay section.

During the week the rig ran and cemented the 9-5/8” intermediate casing and commenced drilling the 8-1/2” production section of the well.

The well will be drilled to a total depth of 1,700 mKB.

Next Steps

The rig will core the TRM sandstone, the first of the primary targets. Following which the well will be drilled to the second target, the K sandstone. The K sandstone is expected to be intersected at 1,516 mKB (-1,487 mSS)

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The Bunian Field Overview

The Bunian Field was discovered in 1998. Bunian-1 and Bunian-3ST2 are currently in production. The entire KSO area is fully defined by the 2011 Sukananti 3D seismic survey data, which was comprehensively reprocessed in 2014 to a very high quality.

The Bunian Field is a SW-NE trending anticline bounded by faults to the south, west and east. The elongated structure has two structural crests mapped at the primary objective TRM3SS reservoir level. Bunian-5 will test one of these crests and confirm the oil potential of the northern half of the Bunian Field. The Bunian Field contains oil at 3 reservoir levels. Bunian-5 will target the primary TRM3SS and secondary GRM and K reservoir levels, which have produced or tested oil at Bunian-1 (TRM3SS), Bunian-3ST2 (TRM3SS and K) and Bunian-4 (TRM3SS and GRM) wells.

For the combined reservoirs, the Bunian field has total best-estimate remaining recoverable reserves of 2.09 million barrels of oil JV share (0.602 million barrels oil net entitlement reserves to Bass). Bunian-5 is modeled to come on line at 750 barrels of oil per day and produce 0.546 million barrels of undeveloped recoverable oil JV share at the primary TRM3SS reservoir level.

Read also: Bass: Tangai-Sukananti KSO operations update

Bunian-5 is a vertical well being drilled from the surface location of the Bunian-4 deviated well. The well is estimated to take 30 days to drill and complete reaching a total depth of approximately 1,700 metres. In the success case, Bunian-5 will be completed and brought into production immediately. The drilling expenditure will be fully cost recoverable against existing production under the terms of the KSO. Joint Venture participants in the KSO are Bass Oil, Operator 55% and Mega Adhyaksa Pratama Sukananto Ltd (MAPS) 45%.

In addition to the existing fields, Bass has defined two exploration prospects being Sukananti Updip and Bunian West. Both prospects target oil potential at multiple reservoir levels which contain the oil in the existing Bunian and Tangai Fields within the KSO. (ends)