Bass Oil seals 100% Vanessa acquisition with 10m SCF/day plant and 5km pipeline

·       Bass Oil (ASX:BAS) completed the acquisition of a 100% interest in the Vanessa gas field and associated facilities.

·       The company now holds a shut‑in production well, a 10m SCF/day gas plant and a 5km pipeline tied into the Cooper Basin network.

·       Bass Oil (ASX:BAS) said Vanessa is intended to support first east‑coast gas sales by late 2026 and help unlock deeper gas resources in PEL 182.

Bass Oil (ASX:BAS) has completed the acquisition of a 100% interest in the Vanessa gas field, including a shut‑in well, gas processing facility and 5km pipeline into the Cooper Basin transmission network.

The company said Vanessa marks a step toward entering the east‑coast gas market at a time when it believes demand and pricing remain supportive for smaller, low‑cost operators.

“This is an important milestone towards Bass’ entry into the East Coast Gas Market,” said Bass Oil (ASX:BAS) Managing Director Tino Guglielmo.

Bass said South Australia’s Department of Energy and Mining has approved the transfer of licences PPL 268 and PRL 135, and that engineering studies for reinstating production are underway with GPA Engineering assisting on certification and recommissioning work.

The company stated it is targeting first gas sales by late 2026 after recommissioning the Vanessa well and facilities, and that it sees the project as the first step in growing a new gas arm for the business.

Following the announcement the Bass Oil (ASX:BAS) share price was unchanged at the time of release.

Bass noted that Vanessa, which has a 10 million standard cubic feet per day nameplate capacity and previously produced 1.1 billion cubic feet over two years, is also intended to help test and potentially commercialise unproven conventional, tight gas and deep coal resources within its 100% owned PEL 182 permit.