PEL 182 (Bass 100%)

PEL 182 is an exploration licence in the Patchawarra trough. The Patchawarra trough is assessed to contain a world class unconventional deep coal gas target.

The licence also contains additional conventional oil and gas exploration potential.  A previous operator performed a detailed prospectivity review and identified numerous oil and gas prospects and leads for further evaluation. 

Deep Permian Coal Gas 

Bass has previously identified the Moolion East deep coal prospect with an assessed prospective resource of 568 BCF of gas and 22.7 million barrels of condensate.  

This opportunity is on trend with the Beanbush gas field which is the focus of efforts by the Santos operated Cooper Basin Joint Venture to commercialise this deep coal resource.   Bass has recently finalised the scope of a study to identify the most effective strategy to progress the commercialisation of this significant deep coal gas resource in PEL 182.  The study will be carried out by a globally respected service company. It will commence and be completed in 2024.   For further information please see the ASX Announcement “Significant Gas Resource Identified in PEL 182 (Bass 100%)”, released 16 November 2022. 

The Deep Coal Gas Prospective Resource Report quantified the gas potential contained in PEL 182 (Figure 1) at a “best estimate” of 21 TCF along with and accompanying 845 million barrels in place of condensate/oil. 

Gas from deep coals, lying below 2500 metres, represent a new significant gas play in the Cooper Basin and potential new material source of gas for the domestic market. 

Gas is known to exist in the Permian aged coals of the Toolachee, Epsilon and Patchawarra formations and has flowed at potentially commercial rates after fracture stimulation.

Santos and the Cooper Basin Joint Venture has been working on commercialising these coals.  More recently, Santos has drilled and fracked the Beanbush 3 horizontal well adjacent to PEL 182, in the same geological setting and on trend in the Patchawarra Trough.

Table 1: Total OHIP and Associated Liquids in the ground in PEL 182

Bass and Fluid have defined a prospective area, named the Moolion East Deep Coal Prospect, within the permit where a pilot horizontal well or wells would be best placed to test the deep coal play.  Santos previously drilled the Moolion East 1 well searching for conventional hydrocarbons but was unsuccessful.  However, the well intersected a significant thickness of deep coal in the Permian section which is the target of this play and study (Figure 2).

The potential Prospective Resource volume of the Moolion East deep coal prospect is 568 BCF of gas and 22.7 million barrels of condensate (oil).

Table 2: Moolion East Deep Coal Gas and Oil Best Estimate (2U) Prospective Resources as Assessed by Fluid

The method for developing this significant resource is expected to be similar to the successful shale gas plays in North America by horizontal drilling and fracture stimulation.

Bass will commence studies aimed a maturing the Moolion East prospect to drillable status. Bass (100%), as operator of PEL 182 has the flexibility and optionality to conduct drilling for its own account, or to attract farm in partners to carry the company’s expenditure.