Bass Oil’s Kiwi-1 well surpasses expectations with high condensate yield and low impurities

Bass Oil (ASX: BAS) has obtained positive early flow test results, with condensate levels far exceeding expectations at its Kiwi-1 well in the Cooper Basin.

Under sampling program conditions, the Extended Production Test (EPT) well at Kiwi-1 has flowed at a rate of 1.7 million cubic feet per day with a flowing wellhead pressure of 2,118 pounds per square inch and 349 barrels of condensate per day.

Notably, the well delivered a higher liquid hydrocarbon yield than expected, with a condensate-to-gas ratio of over 200 barrels per million cubic feet (MMcf) at a relatively-light 65-degree API gravity rating.

Lower impurity levels

“We are incredibly pleased to announce the strong results delivered by the Kiwi-1 Extended Production Test,” managing director Tino Guglielmo said.

“The results have far exceeded our expectations for the well, with hydrocarbon liquids flowing at multiples of internal projections and very low levels of impurities in the gas stream.”

Initial field gas measurements registered lower-than-expected impurity levels, with a CO2 content of 4.5% and no hydrogen sulphide, highlighting the reservoir’s potential to be a major source of future revenue for the company.”

Assessing field size

Bass is continuing its work on the Kiwi-1 EPT to obtain sufficient information to determine the size of the reservoir.

The well will then be shut in for a pressure build-up survey, with the results assisting in determining the resource and further informing the commercialisation model.

Assessment of timelines and development options will be undertaken as results are received.

Resource upgraded

Kiwi-1 was drilled in 2003 as an exploration well, resulting in a Triassic age, Callamurra Member gas discovery that flow-tested at 9.6MMcf per day on drill stem tests.

Bass has interpreted a 3D seismic survey over the area and upgraded the potential size of the Kiwi discovery to a mean contingent resource of 5.24 billion cubic feet (Bcf) and a 3C contingent resource of 11.5Bcf.

The company has also identified other prospects and leads on trend with Kiwi-1 from the geological work conducted by Bass’s technical personnel.

Mr Guglielmo said indications from the production test strengthen the potential for significant upside in the recoverable gas potential of the area based on the technical work to date.