Bass Oil (ASX: BAS) has commenced production testing at its Bunian-5 onshore oil well in Indonesia, recording strong flows of more than 1,100 barrels of oil per day.
The oil explorer and producer reported oil has been flowing since Saturday from the TRM 3 sandstone, one of the two productive oil reservoirs intersected at Bunian-5, at an average rate of 1,128bopd with a 2% water cut.
According to Bass, this result confirms the well is expected to double overall production from the Bunian field.
“This excellent flow result from the TRM 3 reservoir, the first of two known prolific oil-producing zones, demonstrates that a significant amount of production capacity remains at Bunian field,” Bass managing director Tino Guglielmo said.
The company said the well has been choked back for the next phase of the testing program, which will involve seven days of TRM 3 reservoir testing before beginning a similar test on the second primary reservoir, the K1 sandstone.
In October, Bass reported intersecting both reservoirs at Bunian-5 at the same or slightly higher levels than the currently producing Bunian-3ST2 well, with 5m of net oil pay recorded in each zone.
The Bunian field lies within the company’s 55% owned and operated Tangai-Sukananti KSO (production sharing contract) in the South Sumatran Basin, Indonesia, which it holds in joint venture with private Indonesian company Mega Adhyaksa Pratama Sukananti.
Bunian-5 is a vertical well that took 23 days to drill and complete, reaching a total depth of about 1,662m.
The well has been modelled to be brought online at 750bopd to produce 546,000bbls of undeveloped recoverable oil (joint venture share) at the primary TRM3 reservoir level.
According to Bass, oil produced from the testing program will be trucked and sold along with all other crude produced from Tangai Sukananti.
Bass shares were sitting 50% higher at $0.003 by early afternoon trade.