Bass Oil targets gas sales by late 2026

• Bass Oil is expanding its energy portfolio to target initial gas sales into the East Coast Gas Market by the end of 2026.
• The announcement drove a 1.64% increase in the Bass Oil share price following the operational update.
• The strategy focuses on fast-tracking the Vanessa acquisition while developing the Kiwi gas field to boost cash flows.

Bass Oil (ASX:BAS) has outlined plans to achieve its first gas sales into the East Coast Gas Market by the end of 2026 through the acquisition and restart of the Vanessa gas field.

The near-term operational shift builds on the company holding net cash of $3.2 million as of 30 June 2026 while reviewing multiple funding avenues to accelerate project timelines.

The company did not include formal executive statements within the market release.

The Vanessa acquisition includes a production well, processing equipment, and a direct pipeline connection to the Cooper Basin network, with the asset vendor contributing towards rehabilitation expenses.

Management stated that developing the wholly owned Kiwi gas field would more than double the company's booked reserves, supported by a $3.5 million South Australian government grant for pipeline construction.

Following the announcement, the Bass Oil share price was up at $0.062.

Beyond South Australia, recent drilling at the Tangai-Sukananti asset in Indonesia identified a new oil sand and a westerly extension of the Bunian field.