Bass Oil Ltd (AU:BAS) has released an update.
Bass Oil Limited is set to commence an Extended Production Test at the Kiwi-1 well site to evaluate its production capabilities, including gas and fluid sampling and reservoir pressure measurements for reserve determination. The test is crucial for potential commercialization, particularly in light of the Australian Energy Market Operator’s report predicting a gas supply shortfall by 2027, with current domestic spot market prices already high. Success at Kiwi-1 could significantly boost Bass’s gas reserves amidst these favorable market conditions.
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