Bass Strait Oil Company Limited will suspend work program for two of its Gippsland permits, offshore Australia.
The company had sought and has received approval from the National Offshore Titles Authority (NOPTA) for a 6 month suspension of the work program for both its Gippsland basin permits, Vic/P41 and Vic/P68.
Bass had sought the variation of the work program for both permits to allow further time to integrate and map the reprocessed 3D seismic data and Quantitative Interpretation (QI) data analysis from the NOMB seismic survey.
In addition, the Bass technical team have been mapping the data and already identified new oil and gas opportunities similar to and on trend with the Longtom, Basker/Manta/Gummy and Kipper fields.
Furthermore, Bass has identified a number of follow up oil targets on trend with Bass’ wholly owned Leatherjacket oil discovery contained in Vic/P68 permit. Leatherjacket was drilled by Esso in 1986 and discovered an oil column of over 25 metres in the highly productive upper LaTrobe group.
Bass Strait Oil Company Executive Director, Tino Guglielmo, said, “I am pleased with the progress the Bass team has made in identifying additional oil and gas exploration targets to date. The extension of the work programs provides the opportunity to mature these targets to prospects and leads.”
Equity interests in the permits are as follows:
Vic/P41 Joint Venture:
Bass Strait Oil Company Ltd – 64.565% and operator;
Oil Basins Limited – 17.935%;
Shelf Oil Pty Ltd – 17.5%.
Bass Strait Oil Company Ltd – 100%