Past year: ▲ 82%(3.30c – 6.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Sept 2026drilling result▲ GoodMajor
Logs and mud logs show a third oil zone, the M sand, in Bunian 6. It has not been seen before in the Bunian field but is the main producing zone in the neighbouring Tangai field. It will be tested when the well starts; reserve impact is yet to be quantified.
26 Aug 2026drilling result▲ GoodMajor
Bunian 6 reached 1,807.9 m and logs show oil pay in the TRM3 and K1 sandstones, in line with pre-drill expectations. It will be completed as a producer and come online in early September, targeting field output rising from 250 to 750 bopd. Well flow rates are not yet tested.
21 Aug 2026drilling progress report● Neutral
A replacement top drive got Bunian 6 drilling again, reaching 1,573 m of a planned ~1,820 m. Logging and completion are now expected by end of August, with production shortly after. No result yet.
14 Aug 2026drilling progress report▼ Bad
Bunian 6 casing was cemented and the wellhead and blowout preventers tested, but the rig stopped at 1,257 m to repair the top drive hydraulics. Drilling of the final section is yet to restart. Online still stated as late August, which now looks tight (inference).
7 Aug 2026drilling progress report● Neutral
Bunian 6 was drilled to 1,257 m, the intermediate casing depth, and the rig was running the 9-5/8 in casing. Next: cement it and drill the production hole to about 1,820 m. Online still stated as late August. No result yet.
31 July 2026drilling progress report● Neutral
Bunian 6 drilling resumed after the mud pump fix and reached 1,144 m. Intermediate casing point is now about 1,300 m, then the production section to about 1,820 m. Online still expected late August.
24 July 2026drilling progress report● Neutral
A replacement mud pump was installed at Bunian 6 and was being tested at 1,012 m before drilling resumes. Plan is to finish this section to about 1,440 m, then set casing. Online still late August.
17 July 2026drilling progress report▼ Bad
Bunian 6 drilling is suspended at 1,012 m awaiting replacement mud pumps, with restart expected around 24 July. The online date moves from early July to late August, a delay to the extra production Bass is targeting.
10 July 2026drilling progress report▼ Bad
Bunian 6 reached 1,012 m, only 117 m of progress in the week, and the rig stopped for mud pump repairs. The report still says online early July, though the drilling has not reached the casing point.
3 July 2026drilling progress report● Neutral
Bunian 6 was drilled from 403 m to 895 m this week, heading for about 1,400 m before intermediate casing. Total depth is still about 1,820 m. The report still says online in early July, which looks unlikely given the depth so far (inference).
26 June 2026drilling progress report● Neutral
Bunian 6 surface casing cementing was completed and the blowout preventer installed and tested after some rig repair downtime. Drilling the next section from 403 m continues. Online date still stated as early July. No result yet.
19 June 2026drilling progress report● Neutral
Bunian 6 was drilled to 403 m and surface casing was run and cemented. Target depth is still about 1,820 m, with production expected to rise from 250 to 750 bopd, online early July. No result yet.
12 June 2026drilling progress report● Neutral
Bunian 6 was drilling ahead at 193 m on 12 June, heading to a surface casing depth of 410 m. Target depth remains ~1,820 m, with production still expected to rise from 250 to 750 bopd in early July. No new result yet.
9 June 2026drilling spud▲ GoodMajor
Drilling of Bunian 6 in Indonesia began 5 June, about a month later than the 'early May' timing previously given. It targets ~1,820 m over about 30 days, aiming to lift field output from 250 to 750 bopd, online early July. Bass (55%) rates success at 80%; cost recoverable.
16 Apr 2026drilling scheduled▲ GoodMajor
The rig is mobilising for Bunian 6 in Indonesia, with drilling due to start in early May and the well online in mid June. Bass (55%) rates success at 80%, targeting about 1,820 m, lifting field output from 250 to 750 bopd. Costs are recoverable against existing production.
26 Mar 2026resource reserve update● NeutralMajor
At 31 December 2025, 2P oil reserves were 0.796 million barrels, largely unchanged from 0.789m. 2C contingent resources were 1.824 million barrels of oil equivalent (from 1.792m). Kiwi gas resources are unchanged, with front-end engineering work planned in 2026.
24 Mar 2026drilling progress report● Neutral
Reprocessing of the Dundinna 3D seismic has begun, with geochemical work to follow, to test the Triassic source theory near Kiwi. Kiwi contingent resources remain 1.1-11.5 BCF. Results are expected by June 2026. Continues the Triassic study from December.
1 Dec 2025drilling result▲ Good
Triassic study found structural features north and south of Kiwi, pointing to a possible new gas hub. Kiwi gas is low in CO2 and rich in condensate. Bass says it is progressing third-party farm-in talks. No new volumes were given.
28 Mar 2025resource reserve update▲ GoodMajor
At 31 December 2024, 2P reserves were 0.789 million barrels, largely unchanged. Cooper Basin 2C contingent resources rose 52% to 1.735 million boe because of Kiwi's high condensate yield; Kiwi alone is 1.178 million boe (up from 1.016 million in November).
8 Nov 2024resource reserve update▲ GoodMajor
Amended Kiwi release: the mean case is replaced by 2C and 3C cases. After-tax NPV (10%) is A$24m at 2C, A$73.5m at 3C and A$2.8m at 1C, on A$16m capex. The 2C was raised from 0.601 to 1.016 million boe on the lab results. This supersedes the A$36m figure.
6 Nov 2024resource reserve update▲ GoodMajor
Kiwi 1 screening economics gave an after-tax NPV of A$36m on a mean case, with a 2C of 1.016 million boe. Bass has started working towards a final investment decision and is looking at off-balance-sheet funding. This was amended two days later, with the mean case removed.
16 Sept 2024resource reserve update▲ Good
Phase 1 of SLB's PEL 182 deep coal study is finished. The earth model shows a favourable stress setting, so Bass moves to a phase 2 economic assessment led by SLB. The Rapid Resource Assessment is no longer seen as critical. Santos supplied calibration data in exchange for access to the model. No new resource figure.
12 Aug 2024drilling scheduled▲ Good
Wild Desert Rig 10 was mobilising to Kiwi 1, with well completion stated to start on or about 18 October (a typo later corrected to 18 August) and take about 7 days. The test was to run a 14-day flow and a pressure build-up of up to 60 days.
26 June 2024drilling scheduled● Neutral
Kiwi 1 earthworks are due to finish by 30 June. Wild Desert Rig 10 is contracted for the completion, expected mid-July after release by another operator, taking 7-10 working days. The test follows. Rig timing has moved from the earlier June slot.
29 May 2024drilling scheduled▲ Good
Earthworks to repair the Kiwi 1 road and prepare the wellsite have started, due to finish around 13 June; the rig slot will be confirmed afterwards. All test equipment has been delivered. This follows months of rain delays, which the managing director acknowledged as frustrating.
22 Mar 2024drilling scheduled▲ GoodMajor
Bass will start the Kiwi 1 extended production test once road access is restored. Approvals and equipment are in hand; the Wild Desert Rig 4 is expected on site around end April, with results within 60 days. Kiwi's 2C is 5.24 bcf; gas buyers have made enquiries.
15 Mar 2024resource reserve update▲ GoodMajor
Year-end 2P reserves rose 17% to 0.805 million barrels (Australia 0.366, Indonesia 0.439), mainly from the KSO extension moving Indonesian resources into reserves. 2C contingent resources are 1.229 million barrels, with Cooper 2C up 110% as Kiwi gas is booked for the first time.
26 Sept 2023resource reserve update▲ GoodMajor
Bass began buying long lead items for the Kiwi 1 gas well extended test, targeted for Q4 2023. Seismic mapping gives Kiwi a revised 2C contingent resource of 5.24 bcf and 3C of 11.5 bcf. Kiwi 1 discovered gas in 2003 and has never been completed for production.
31 Mar 2023resource reserve update▲ GoodMajor
At 31 December 2022, 2P reserves were 0.688 MMbbl, up 62%, and 1P 0.382 MMbbl, up 21%, driven by the Cooper Basin acquisition. Indonesian 2P fell to 0.300 MMbbl as drilling delays pushed output beyond the July 2025 permit expiry. 2C contingent resources are 1.341 MMbbl.
27 Feb 2023drilling scheduled▲ GoodMajor
Bass secured a rig for a two-well workover: Worrior 11 from about 2 March (5 days), expected to add 200 bopd and 120,000 barrels of reserves, and Worrior 8 tubing leak repair (20-40 bopd). Resolves the long-delayed rig availability; targets 300 bopd Cooper Basin output.
