BAS Record production from Indonesian oil field Release Date: 9...

BAS
Record production from Indonesian oil field
Release Date: 9 April 2018
Highlights
- March Operations Update -
 Record March output as Indonesian oil field production lifts ~21% on February levels as a result of optimisation work
 Highest output since 2017 project acquisition
 Further uplift of 150-250 barrels of oil per day expected from Bunian-3
 Total March production of 19,883 barrels of oil (JV share) or 10,936 barrels (net to Bass)
 March oil sales totaled 19,299 barrels of oil (JV Share) or 10,615 barrels (net to Bass)
 Optimisation work undertaken resulted in a ~20% uplift to 650 BOPD at Tangai-Sukananti KSO (South Sumatra) with further gains expected over coming weeks
Monthly Production:
Australian oil producer, Bass Oil Limited (ASX:BAS) is pleased to report in its monthly operations update, record March oil production from the Company’s Indonesian oil production assets.
During March, Bass reported total field production of 19,883 barrels of oil (JV Share) or 10,936 barrels of oil (net to Bass). The strong production uplift of 21% brings production from Tangai- Sukananti KSO in South Sumatra to its highest levels since project acquisition by Bass Oil early in 2017. As foreshadowed in previous announcements, this robust and improving performance is a direct result of the successful optimisation work pursued by Bass over the past 6 months.
March oil sales equaled 19,299 barrels of oil (100% JV Share) or 10,615 barrels (net to Bass) at an average realised oil price of US$59.83 (A$77.82) per barrel.