BAS 0.00% 0.2¢ bass oil limited

confirmed oil and gas field in bass basin

  1. 11,175 Posts.
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    Looks like capper came in on Bass on Thursday afternoon and is still there at .039. I think a broker is onto this one, looked as if it was going to take off on Friday but I think someone wanted more in this range and thought he could sell high and buy up more lower. I dont think he realises how tight a registry Bass still is.

    More good news for AWE and ORG jv. BAS has a few permits from memory not too far away



    Rockhopper 1 confirmed as new field oil and gas discovery in
    Bass Basin, Tasmania
    Progress and Status: Origin Energy, on behalf of the T/18P Joint Venture, advises that
    as at 06:00 hours EDT on Monday 4 January 2010 the current
    operation at Rockhopper 1 is running wireline logs.
    Wireline pressure data recorded in the well to date confirm the
    presence of multiple hydrocarbon columns in a sequence of
    interbedded sands and shales in the Lower Eastern View Coal
    Measures. Selective wireline sampling has recovered oil from
    some sands and liquids rich gas from others. Thickness of
    individual sand beds varies from 1 metre to around to 5 metres.
    Reservoir quality appears to be variable.
    As no definitive water bearing sands are present in the target
    section, the Joint Venture is contemplating drilling a sidetrack to
    a downflank location on the Rockhopper structure to establish
    hydrocarbon column heights.
    It remains too early to comment on the commercial significance
    of this new field discovery, but the JV is encouraged by results to
    date, particularly by the recovery of crude oil from some sands.
    Well type and location: Rockhopper 1 is an exploration well located in exploration permit
    T/18P, operated by Origin some 38km west of the Yolla gas field
    and approximately 10km north-north-east of Trefoil 1.
    Rockhopper 1 is a deviated well. The final surface location is:
    Latitude: 39 47 34.1828 S
    Longitude: 145 26 21.4660 E
 
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