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Bass Oil: Shares skyrocket on gas resource discovery in PEL 182 | Fintech InShorts: Latest fintech news, analysis by experts

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Bass Oil: Shares skyrocket on gas resource discovery in PEL 182

By Steve Sam

November 17, 2022

Bass Oil Shares skyrocket on gas resource discovery in PEL 182

Bass Oil (BAS) discovers a “significant” prospective gas resource within its PEL 182 permit in South Australia’s Cooper Basin
Fluid Energy Consultants completed a geological assessment of the permit, estimating its gas potential to be 21 trillion cubic feet of gas along with 845 million barrels of condensate
Bass and Fluid defined the Moolion East prospect as the ideal area to test the deep coal play through one or more horizontal wells
The company says this is a “very exciting” development, and it will conduct further studies to take the prospect to drillable status
BAS shares are up 103 per cent on the back of the discovery to trade at 7.5 cents at 2:14 pm AEDT