Bass Oil Ltd. identified a significant prospective gas resource in Cooper basin, South Australia.

Gas from deep coals, lying below 2,500 m, represent a new play in the basin and potential new material source of gas for the domestic market. The company has identified 21 tcf gas-in-place potential in PEL 182 at the basin along with 845 million bbl condensate-oil.

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 and when comingled with conventional gas produced from sandstones. Bass will conduct further studies to identify the best commercialization strategies.

Bass is operator at PEL 182 (100%).