Well spotted Mick. I don't believe Bunian-4 has previously been...

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GomezAddams

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24/02/17

11:30

Post #: 22873886
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Originally posted by mandp ↑

Further to my above..... I came across an article from Dec 2016, in which talked about the sale (Here.... http://www.evaluateenergy.com/Universal/View.aspx?type=Story&id=159494 )

It reads in part about the Bunian 4 well, ....
"Given that the effective date for the transaction is 1 October 2016, the recent increase in production and higher oil pricing is expected to result in a significant increase in net cash flow to Bass commencing in the first quarter of 2017. In early 2017, production capacity in the field will again be increased when the Bunian 4 well is brought on line. "

I thought I'd try and find something about this well, but only find references to it as a dot on a map or mentioned in the presentation (flippantly lol).

Do any of the longer term holders here know anything about this well????.
Had it been in production previously?, or come March is it's commision?.
The more I look into BAS, the more intriguing it gets lol.
Cheers,
Mick.

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Well spotted Mick. I don't believe Bunian-4 has previously been in production.

It was completed and tested in September 2015.

The COE Operational Update 2/10/15 indicated anticipated production of 100-200 barrels of oil per day from Bunian-4.

The COE March 2016 Quarterly indicated an intention to install a jet pump in the June quarter but, by this stage, the divestment process had commenced and I don't believe the installation went ahead. Sale of the KSO was announced on 7/6/16 (of course that sale subsequently fell through).

BAS Price at posting: 0.2¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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