Bass Oil Ltd · ASX:BAS
Bass Oil — Bass Strait Oil Company — Investor Presentation (July 2006)
30 slides from Bass Oil's investor presentation, Jul 28, 2006
Slide 1: Bass Strait Oil Company Ltd
BASS STRAIT SS Ny Oil for Australians Bass Strait Oil Company Ltd BASS STRAIT C) ~ ERI for Aaarmolinas
Slide 2: Company contact details
OH for Austral Base Strait Oli Company Ltd, Level 2: Telcpiene. (81) (5) 2b 14 0428, Facsimile, (61) (6) 9014 0426, Email. SOlLcon ee BASS STRAIT C) th
Slide 3: Directors and Management
DIRECTORS AND MANAGEMENT — Bernard Wheelahan, Chairman — Chairman of Pacific Hydro, Deputy Chairman Transfield Services Ltd, former Shell senior executive — Andrew Adams, Managing Director —- BSc, MBA, former Amoco Canada and Santos executive, member of APPEA Exploration Committee — Geoffrey Albers,
Slide 4: Corporate Status
CORPORATE STATUS » 129 million shares + 15 million options « Directors and Management approximately 25% « Top twenty approximately 30% « Total shareholders 2,800 = Market capitalisation approximately $8 million » Cash approximately $2.5 million BASS STRAIT SSS th ED Bho asenoliine
Slide 5: Activity Since ASX Listing
ACTIVITY SINCE ASX LISTING « ASX listing on 30 September 2004, $16 million raised « Moby-1 gas discovery well drilled October 2004 « Oscar, Moby and Bazzard 3D surveys recorded January - March 2005 « ZaneGrey-1 gas and condensate discovery well drilled March 2005 « $2 million placement October 2005
Slide 6: Bass Strait Oil Company Ltd Acreage
Slide 7: BAS Forward Programme
BAS FORWARD PROGRAMME — Capitalise on Gippsland 3D Seismic Investment — Develop New Bass Basin and Otway Basin Acreage — Pursue New Opportunities Gippsland: Vic/P41 *3D interpretation / AVO 2006 ongoing BAS 45% operator *Farming out for carry through drilling | 22007 drilling Gippsland: Vic/P42 «Apa
Slide 8: BAS Gippsland Basin Acreage
BAS GIPPSLAND BASIN ACREAGE Gippsland Basin map showing the location of BAS. permits BASS STRAIT rs th EW far ob 7
Slide 9: BAS Gippsland Basin 3D Seismic Investment
BAS GIPPSLAND BASIN 3D SEISMIC INVESTMENT ae ye _ —— » Over 7000 sq km of | . 3D data on BAS nn interpretation system « Approximately 2000 - sq km of proprietary 3D data _ » Oscar survey basis for Vic/P41 farmout « 500 sq km new Vic/P42 3D scheduled for Q4 2006 with Apache oy BAS Selkimic Datslane E
Slide 10: Vic/P42 Prospects & Leads - BAS 20% after farmout
VIC/P42 PROSPECTS & LEADS - BAS 20% after farmout Apache farmin announced May 2006 » Apache to record and process 500 sq km 3D seismic 04 2006 and drill one well to earn 60% in permit Gas! ndansaie Value of Apache work estimated at approximately $35 million New survey will complete 3D coverage in no
Slide 11: Vic/P42: Tarra SE / Devilfish Leads
VIC/P42: TARA SE / DEVILFISH LEADS SW Tarra SE Devilfish NW NE NW of Vic/P42 only 2D seismic coverage >10 significant leads with many plays Examples: «Tarra SE Low risk top Latrobe, analogous to Perch Oil Field «Devilfish NW Higher risk intra- Latrobe fault closure BASS yi
Slide 12: Vic/P42: Hemingway Prospect - Seismic Dip Line
VIC/P42: HEMINGWAY PROSPECT - SEISMIC DIP LINE ~ HEMINGWA) ae Top Mingfiath Fortralicns Sila Event Near Top Nannygai Pay Zone Yop Golden Beach 30 DIP LINE Downthrown fault closure Intra Latrobe play Closure: - 13.0 km? areal ~ 160 m vertical On trend with proven fault seal in Omeo-1 131 MMb prospect
Slide 13: Vic/P41 Prospects and Leads - BAS 45% and operator
VIC/P41 PROSPECTS AND LEADS — BAS 45% and operator Acquired 575 sq km Oscar 3D survey February 2005 « Structural interpretation complete and closures identified at Golden Beach and intra-Latrobe levels « Seismic AVO project ongoing « Kipling Prospect analogous to Kipper « Oscar prospects analogous t
Slide 14: Vic/P41: 3D Prospects
VIC/P41: 3D PROSPECTS = } Kipper OW & Gas Field mnie | ae Pas Northem Fields 3D |" (2001) 3D (7999) Kipper Oscar Prospects ~~ Sole Gas Fleld (a Seno Benchiey Prospect _ Cotton 30 (2005) 20 ken f Top Golden Beach Depth map showing Kipper, Kipling, Benchley, Cotton Trend and Basker/Manta/Gummy and Osc
Slide 15: Vic/P41: Schematic Cross-Section - Kipling Lead
VIC/P41: SCHEMATIC CROSS-SECTION - KIPLING LEAD (WITH KIPPER FIELD INSET) § Hammerhead <4 N LL .. - he Moe ere Ue Sohemalie Croes Section ~ Kipper Arse "Upper" Latobe Group Golden: Beach i ania Sub-Group ic | mi ci ie Watoran & yohestone, cot BASS STRAIT ee 3 th EW far basen
Slide 16: Vic/P41: Kipling Prospect
VIC/P41: KIPLING PROSPECT South North Golden Beach prospective reservoir juxtaposed against Strzelecki in upthrown block « Preliminary AVO work suggests gas cap at culmination = fault seal « Bright events at top Golden Beach likely to be volcanics = effective top seal in Kipper s “Mega-closure” like
Slide 17: Vic/P41: 3D Prospects
VIC/P41: 3D PROSPECTS = } Kipper OW & Gas Field mnie | ae Pas Northem Fields 3D |" (2001) Kipper 3D (1999) Oscar Prospects ~~ Sole Gas Fleld (a Seno Benchiey Prospect _ Cotton 30 (2005) 20 ken f Top Golden Beach Depth map showing Kipper, Kipling, Benchley, Cotton Trend and Basker/Manta/Gummy and Osc
Slide 18: Basker / Oscar Comparison
BASKER / OSCAR COMPARISON DEPTH (mS8} BASKER-1 GUMMY-1 MANTA-1 CHIMAERA-1 B Ea x # A N cen: amaiaae Ue memes Bava Fer Basker/Manta Schematic 4000 “Cross Section wi Base Gippsland ee en 2k a a Yop Channel -2000 + pa [ceo Base Channa La Base L. Balinel 31 Top Golden Beach Subgroup 3000 -| $000 4 po re
Slide 19: Basker / Oscar Comparison
BASKER / OSCAR COMPARISON Basker Inline Oscar Inline SOUTH e__ Basker_ Gummy NORTH © SOUTH « Oscar « Oscar leads on trend with Basker s Thick prospective reservoir section interpreted at intra-Latrobe and Golden Beach « Multiple volcanic seals suggested on seismic BASS STRAIT ee © th EFL Bar essen
Slide 20: Latrobe Group Source Rock Maturity - Seaspray Group Isopach Map
LATROBE GROUP SOURCE ROCK MATURITY - SEASPRAY GROUP ISOPACH WVIAP «Overburden decreases eastward in basin «Overburden removed in Bass Canyon to southeast «Latrobe Halibut Subgroup and Golden Beach sequences oil mature for Vic/P41 prospects at Present day Modified from GeoScience Victoria, DP! and Fr
Slide 21: Vic/P41: Deep Water Leads - Eastern Area
VIC/P41; DEEP WATER LEADS — EASTERN AREA » Prospective one-line structuring « Further 2D seismic coverage needed » Deep water « Charge risk BASS yi
Slide 22: Vic/P47: Prospects and Leads - BAS 40% and operator
VIC/P47; PROSPECTS AND LEADS - BAS 40% and operator mt see FIELDS: o .. LONGTOM PATRICIA BALEEN, — Vic/P47 Boxe Strait Olt Sorapany Aid Moly O14 Gas Ud fargo Bay Husourcas Ni, iMoby 29: Seney BAR LAB ek SLi eisai ANN 3AM a en Biegaeor Gas Pay (Oe, Peeepaciouasa « Judith-1 gas discovery review and re
Slide 23: Judith-1 - Well Seismic Tie - Northern Fields 3D
JUDITH-1 — WELL SEISMIC TIE - NORTHERN FIELDS 3D . wa VBBy oe aoe cepa ter Downthrown Fault BASS STRATE Ol ~ EL Bar Arse
Slide 24: Longtom / Judith Comparison
LONGTOM / JUDITH COMPARISON Longtom Inline Judith Inline Longtom Gas Judith Gas SOUTH Accumulation NORTH SOUTH ® accumulation NORTH ge « Judith — highside tilted fault block « Longtom — lowside 3-way dip closure [LB ) « Identical reservoir sequence « Both defined by Esso Northern Fields 3D BASS 3 Te
Slide 25: Seismic Tie - Judith-1 to Longtom-1
SEISMIC TIE — JUDITH-1 TO LONGTOM-1 « Longtom-1 gas-bearing Emperor continuous with Judith section ~ same age Longtom Tie . « Judith-1 - Kipper Shale & Admiral Fm reservoirs » Additional potential within upper & lower unpenetrated horizons BASS STRAIT
Slide 26: New Bass Basin Acreage - BAS 100%
NEW BASS BASIN ACREAGE - BAS 100% ios ut igi cosy a “gress ee : oO peri ee Lait) | BASS STRAIT . a’ a oar Durroon Sub-basin Location Map a hn Aller Edgwely aval Toye 7980, 204 Bazeltal package Two Durroon Sub- basin permits awarded February 2006 6,120 sq km contain one shallow well (with shows) on s
Slide 27: Durroon Sub-Basin Seismic Cross-Section
DURROON SUB-BASIN SEISMIC CROSS-SECTION wsw Durroon Sub-Basin Durroon-1 ESE Seismic Line bmr88-306 \ Possible turbidite sands with stratigraphically trapped hydrocarbons BASS sf re
Slide 28: Otway Basin - Portland Trough Oil Fairway
OTWAY BASIN — PORTLAND TROUGH OIL FAIRWAY PEP150 + Oil prone source rocks in parts of the Portland Trough interpreted to provide relatively recent oil generation where source rocks have not passed into the gas phase as is common in the Otway + Relatively young and shallow reservoirs have access to t
Slide 29: Otway Basin - BAS Acreage
OTWAY BASIN — BAS ACREAGE PEP150._ MA “m nese roseeey Se a eve . : i x iat 2 % @l tela Sy, saab Tapa “hy * BAS 25% in PEP 151 * BAS farming-in to earn 15% in PEP 150 * PEP 150 contains Lindon oil recovery, permit to be awarded pending native title BASS STRAIT C) th KLE fase
Slide 30: Important Notice - Disclaimer
IMPORTANT NOTICE - DISCLAIMER This presentation has been prepared by Bass Strait Oil Company Ltd (“BAS” or the “Company”), with the purpose of providing general information about the Company. it should not be considered as an offer or invitation to subscribe for or purchase any securities in the Com
Bass Strait Oil Company — Investor Presentation (July 2006) on 6ix