Ann: Bass Logs Record Production in November, page-2

Highlights:

- Bunian 5 well successfully tested and brought on-line with multiple reservoir horizons
confirmed.
- One of the two primary target reservoirs, the TRM 3 sandstone, delivered a stabilised
peak rate of over 860 barrels of oil per day (bopd) and currently on line and being
constrained.
- Field production is being optimised, highlighting the Company’s confidence in sustained
long-term performance of the Bunian Field.
- Monthly production in November averaged a record 975 bopd JV share up 36% from
October and 9% higher that the previous production record set in October 2018
- December field production rate averaging over 1,100 bopd with further increases
planned
- November production totalled 29,225 barrels of oil JV share or 16,074 barrels net to Bass
- November oil sales totalled 27,423 barrels of oil JV Share or 15,083 barrels net to Bass
- Monthly average oil price was US$62.32 per barrel up 6% from October
- High impact business development opportunities under advanced evaluation