Bass Oil Ltd · ASX:BAS
Bass Oil — Bass Strait Oil Company — Technical Presentation (May 2006)
20 slides from Bass Oil's technical presentation, May 5, 2006
Slide 1: Vic/P41 Farmout Presentation
BASS STRAIT Fr. h Onl for Aastralians BASS STRAIT OIL COMPANY Ltd ACN G08 694 817 Tel: (+61 3) 9614 0426 Level 25 Fax: (+61 3) 9629 0428 ASX RELEASE Vic/P41 Farmout Presentation In 2005, the Vic/P41 joint venture recorded the first 3D seismic survey in this offshore Gippsiand Basin permit. Bass Stra
Slide 2: Vic/P41 Farmout: Permit Interests
BASS STRAIT OIL COMPANY LTD — VIC/P41 FARMOUT: Vic/P41 Bass Strait Oil Company Ltd — Operator Moby Oi! & Gas Ltd Eagle Bay Resources NL BAS Permit Interests BASS STRAIT ees Oe ot fess
Slide 3: Vic/P41 — Structural Location
VIC/P41 — STRUCTURAL LOCATION LEGEND Preserves Prtacozole Outeroo af coe Ftd - Patacoueic Granite ——~ ati Zotacvous extensionat ‘Sirzaleckl Outerop Late Cretaceous Fauits Tomary Resen! Seqmenss 8... Malar Anica Tends ofthe Giepsiand Basin Baily Miccene Basin Inversion’ Oi Fioid tae ‘Aor Wtotands 8 t
Slide 4: Gippsland Basin Stratigraphy
GIPPSLAND BASIN STRATIGRAPHY ] ae - SEASPRAY GROUP ‘Gorpression ‘bash inversion, - reverse faulting, Anu chee [uber ae core Waa Hemost Bike COBIA: : ey a ee. : Oftshore basin ot i m yy, . st ieepens, sitet SUBGROUP os , ii g mops ‘but tealting tinted ‘# eeaeenae Taber E satel ‘Lowe: ‘iene ‘baleat HA
Slide 5: Vic/P41 Prospects and Leads
VIC/P41 PROSPECTS AND LEADS Acquired 575sq.km Oscar 3D Feb 2005 » Oscar 3D processed Oct 2005 » Structural interpretation complete and closures identified at Golden Beach and intra-Latrobe levels « Kipling Prospect analogous to Kipper » Oscar prospects analogous to Basker field = Cotton in constrain
Slide 6: Top Golden Beach depth map of prospects
Le Ai J i] } e L + Northern Fi Id 3D THER ACESS Oil & Gas it ) ViefP44 Field 7 Relinquished >. Kipper r Area ea an (1999) © sept Jac OSE, ObART Y Kipling Prospect Sole Gas Field a ane Benchley Prospect Cotton Prospect Oscar Prospects i See 1 Mictoria 20 km 1 Top Golden Beach Depth map showing Kipper
Slide 7: Vic/P41 - Schematic Cross-Section - Kipling Lead
VIC/P41 - SCHEMATIC CROSS-SECTION - KIPLING LEAD (WITH KIPPER FIELD INSET) “Upper” Latrobe Group Goldan Beach Sub-Group tion Harnmerhead - 1 (AAR y : es _- | ‘Alter Ofialioran & Jonnstone, 2004 BASS STRAIT Fr, hs ui fou chnsinalianes
Slide 8: Vic/P41: Kipling Prospect
VIC/P41: KIPLING PROSPECT South North km Oscar XLN-1380 showing Kipling Prospect downthrown fault closure 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 b
Slide 9: Vic/P41: Benchley and Cotton Prospects
VIC/P41: BENCHLEY AND COTTON PROSPECTS » Seismic traverse along downthrown side of Rosedale Fault showing: «Benchley Latrobe closure «Cotton Latrobe closure s Kate Shale identified from downlapping and MFS on seismic — good intraformational seal » Fault seal risk for upper Latrobe section
Slide 10: Top Golden Beach depth map of prospects
Le Ai J i] } e L + Northern Fi Id 3D THER ACESS Oil & Gas it ) ViefP44 Field 7 Relinquished >. Kipper r Area ea an (1999) © sept Jac OSE, ObART Y Kipling Prospect Sole Gas Field a ane Benchley Prospect Cotton Prospect Oscar Prospects i See 1 Mictoria 20 km 1 Top Golden Beach Depth map showing Kipper
Slide 11: Basker / Oscar Comparison
BASKER / OSCAR COMPARISON BASKER-1 GUMMY-1 MANTA-1 CHIMAERA-1 B we 4 eo A N| . Basker-1 1983 Shell fe p= Sea Floor discovery flowed record Basker/Manta 574 tbbl/d 1000 Ie nonematic « 30.1 MMb P50 oil ross section reserves Basker-Manta _-———~_ Base Gippsland . a eo Limestone « Basker-2 undergoing 2 -
Slide 12: Basker / Oscar Comparison
BASKER / OSCAR COMPARISON Basker Inline Oscar Inline SOUTH Basher g Sumy NORTH SOUTH « Oscar » NORTH Leads « Oscar leads on trend with Basker Sha « Thick prospective reservoir section interpreted at intra-Latrobe and Golden Beach « Multiple volcanic seals suggested on seismic BASS STRAIT Dil
Slide 13: Latrobe Group Source Rock Maturity - Seaspray Group Isopach Map
LATROBE GROUP SOURCE ROCK MATURITY - SEASPRAY GROUP ISOPACH MAP “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, OP? and Fr
Slide 14: Vic/P41 Prospect Summary: Prospective Resources
VIC/P41 PROSPECT SUMMARY: PRELIMINARY ESTIMATES OF PROSPECTIVE RESOURCES STOIHP Oil case Recoverable oil MMb MMb 4225 1690 329 4115 346 142 Preliminary deterministic estimates of undiscovered petroleum initially in place and prospective resource for oil only, or gas only, cases. This thus represents
Slide 15: Bass Strait Oil Company Ltd — Contact
BASS STRAIT OIL COMPANY LTD — CONTACT lan Reid, Technical Advisor ian.reid@bassoil.com.au 03-9614 0426 Level 25, 500 Collins St, Melbourne Vic 3000 ViciP41 Bass Strait Oil Company Lid- Operator 45% Moby Oil & Gas Lid 30% Eagle Bay Resources NL 25% BASS SERAIT ne
Slide 16: Vic/P41 Second Term Proposed Commitments
VIC/P41 SECOND TERM PROPOSED COMMITMENTS Period Ending Commitment 13 February 2007 3D seismic interpretation — quantitative geophysics 13 February 2008 G&G studies — source and migration 13 February 2009 250 km 2D seismic and commercial studies 13 February 2010 One well 13 February 2011 Interpretati
Slide 17: Water Leads on 2D GBS02 Survey
WATER LEADS ON 2D GBS02 SURVEY. Deep water Charge risk Further 2D seismic coverage needed BASS STRAIT
Slide 18: BAS Gippsland Basin 3D Seismic Database
BAS GIPPSLAND BASIN 3D SEISMIC DATABASE ae . » Major investment in | Se 3D acquisition H |. : » All BAS Gippsland oes oe Basin prospects are a 3D defined — / reduced exploration Cc risk a ; : “\ » Over 7000 sq km of = : 3D data on BAS interpretation system ue ie » Approximately 2000 : 7 Ly sq km of
Slide 19: Vic/P41 First Term Commitments Completed
VIC/P41 FIRST TERM COMMITMENTS COMPLETED Period Ending Commitment 13 May 1999 Data review (189 km 2D seismic completed) 13 February 2001 500 km 2D seismic acquisition 13 February 2002 One well (Northright-1 completed, also 450 km 2D seismic completed) 13 February 2003 200 km 2D seismic (221.5 km com
Slide 20: Bass Strait
BASS STRAIT o a = Li w) [au a = = Oo oO (ea fe) < = I - = UJ = Lu Ww al <= a5 a) pe << x G. Oo -
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