Bass Oil Limited (ASX: BAS), Australia’s exploration and production company, has announced that the Bunian 5 well has intersected the two primary reservoirs, the TRM3 and K sandstones. Both the reservoirs were intersected at the same or slightly higher levels than at Bunian 3 ST2 which is the most prolific well in the field.
- Both the zones have exhibited oil shows which is comparable to or better than those in Bunian 3 ST2, with 5 meter of net oil pay in each zone;
- BAS is confident that Bunian-5 has the potential to double overall production from the Bunian field.
At AEST 12:43PM, the stock was trading at $0.003, up by 50% from its previous close.
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