Bass Oil (ASX: BAS) has gained Indonesian regulatory approval for the drilling contract at its Bunian 6 development well, a key step in its plan to boost production by approximately 500 barrels of oil per day by mid-2026.
The drilling rig is already under contract to Pertamina EP and is scheduled to mobilise to the Bunian 6 site in May 2026.
All essential materials required for the drilling and subsequent completion activities are already on-site, indicating strong operational readiness.
Production Uplift Forecasted
The Bunian 6 well represents the final element of the firm work program for the Bunian KSO.
Bass Oil holds a 55% ownership interest and acts as the operator of the Bunian KSO, which currently maintains a production rate of approximately 250 barrels of oil per day (bopd).
Upon coming online, Bunian 6 is forecast to add a significant 500 bopd to existing production, with an expected online date of mid-2026.
This will deliver a near-term production uplift, with Bunian 3 having already produced over 1.2 million barrels to date.
Funding Secured for Development
The progression of the Bunian 6 drilling is supported by a recent $3 million capital raising that was successfully completed in March 2026.
The funds raised through the placement, issued at $0.063 per share, are allocated to various strategic projects, including this Indonesian development.
The capital raising also aimed to complete the Vanessa gas field acquisition and recommissioning, and advance the Kiwi liquids-rich gas project towards a Final Investment Decision (FID).
Operational Readiness and Risks
Bass Oil has confirmed that all necessary materials for the Bunian 6 operation are already on location.
Furthermore, the flowline for Bunian 3 has been installed and thoroughly tested, ready for connection when Bunian 6 comes online.
While significant progress has been made, potential risks for the project include execution challenges, timing delays, regulatory hurdles, and commodity price fluctuations.
Commodity price movements also remain a factor for oil and gas producers.
Bass Oil is yet to provide specific cost guidance for the Bunian 6 drilling operation.
