Independent geological assessment by Fluid Energy Consultants has confirmed a significant gas resource in Bass Oil’s 100 per cent owned PEL 182 permit in the Cooper Basin.
Fluid’s report estimates 21 trillion cubic feet of gas and 845 million barrels of oil in deep coals discovered below 2500 metres in the permit area, called the Moolion East deep coal prospect.
Tino Guglielmo, managing director for Bass, said that the existing infrastructure of the Cooper Basin could make commercialisation of the resource more efficient.
“At a time when the domestic gas market continues to face huge challenges meeting demand, this new potential gas resource represents a credible material contributor of gas to the domestic market,” he said.
Santos and the Cooper Basin joint venture are trialling horizontal drilling adjacent to PEL 182 as it works to commercialise the same geological setting.
Bass is considering self funding, farm-out, or third party investment to progress the opportunity.
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