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Bass Oil (ASX:BAS) identifies significant gas resource

Bass Oil (ASX:BAS) says its identified a significant prospective resource that has the potential to materially grow its operations in the Cooper Basin in South Australia.

Bass Oil says the Deep Coal Gas Prospective Resource Report quantified the gas potential contained in PEL 182 at a ?best estimate? of 21 TCF of gas in place along with accompanying 845 billion barrels of condensate/oil in place.

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.

The Bass Oil share price is currently up 76%.

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