Bass Oil Limited (ASX:BAS), an Australian-listed oil producer with a majority interest in eight permits in the Cooper Basin (Australia) and a 55% interest in a South Sumatra Basin (Indonesia) KSO, has been awarded a $3.5 million grant from the South Australian Government’s Gas Initiative program for its 100% owned Kiwi liquids-rich gas project. The funding will specifically support the construction of a pipeline to connect the Kiwi gas field to existing Cooper Basin infrastructure. This grant validates the project’s importance and provides essential funding for this key development phase.
The grant, part of the SA Gas Incentive Grant program, aims to bolster the state’s gas supplies. The grant agreement is subject to standard conditions and is targeted at projects that can be brought online by the end of 2028. Previous production tests at the Kiwi 1 well in late 2024 demonstrated commercial production rates of 4.1 million cubic feet per day (mmcfd) of gas, along with 988 barrels of condensate per day (bcpd), constrained only by on-site condensate storage capacity.
Bass Oil is currently exploring options for the remaining project funding, including discussions with parties interested in farming into the project. Managing Director, Mr. Tino Guglielmo, stated that this grant represents a significant milestone in bringing the Kiwi gas project online and opening a valuable new liquids-rich Triassic gas play in the northern Cooper Basin. He further added that the grant validates the significance of the Triassic play in expanding gas resources within the Cooper Basin.
Further details regarding the Kiwi gas project and the Triassic gas play can be found in the Company’s December Quarterly report released on 29 January 2026, as well as previous ASX releases from 1 December 2025 and 8 November 2024. The announcement has been authorised for release by the Board of Directors of Bass Oil Limited.
