Bass Oil Ltd · ASX:BAS
Bass Oil — Bass Strait Oil Company — Investor Presentation (May 2007)
27 slides from Bass Oil's investor presentation, May 22, 2007
Slide 1: Bass Strait Oil Company Ltd - Oil for Australians
BASS STRAIT SS Ny Oil for Australians Bass Strait Oil Company Ltd May 2007 BASS STRAIT C) *s O11 fiw Aaisaresbicsnes
Slide 2: 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 3: 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 $10 million » Cash approximately $2 million BASS STRAIT es a bh C11 for Ansnaanes
Slide 4: BAS Permit interests
cu BAS Permit interests
Slide 5: BAS Forward Programme
BAS FORWARD PROGRAMME BASS Sif
Slide 6: BAS Gippsland Basin 3D Seismic Investment
BAS GIPPSLAND BASIN 3D SEISMIC INVESTMENT 1 Kilometres ae Lo. Os, Rey TERRACED OE iii AACA AANA oe Se oS OL Pipaine rome: Gas'Pipelinie: BAS Seismic Database - (Bi BAS Proprietary Surveys (22) Other Surveys Loaded (283 Proposed 3D Survey » Over 7000 sq km of 3D data on BAS interpretation system « Ap
Slide 7: Vic/P42 Operations Status - BAS 20% after farmout
VIC/P42 OPERATIONS STATUS - BAS 20% after farmout itseye- Omeo Gas 3D seismic survey $03 sq km Vic/P42 discovery (ME ot Fier » Farmin seismic acquisition complete, PSDM processing underway 2 Apache to drill and test well to complete farmin. Rig contracted for Q1 2008 « Marie survey completes 3D cove
Slide 8: Vic/P41 Prospects and Leads - BAS 45% and operator
VIC/P41 PROSPECTS AND LEADS — BAS 45% and operator Acquired 575sq.km Oscar 3D Feb 2005 Closures identified at Golden Beach and intra-Latrobe levels Kipling Prospect analogous to Kipper ~ AVO response on both 2P50 124MMb + 620bef Benchley Prospect - AVO response at Golden Beach and Volacor «P50 145MM
Slide 9: Kipper / Kipling AVO Response
KIPPER / KIPLING AVO RESPONSE Fluid factor response concordant with structure} KIPPER FIELD A Crestal fluid factor anomaly * Scaitop-1 [Possible GOC i - oS Mapped regional® <1 ..depth closure BASS Sif
Slide 10: Benchley Top Golden Beach AVO Response
BENCHLEY TOP GOLDEN BEACH AVO RESPONSE —_—_____ a a a Aan.nn. BASS STRAIT
Slide 11: Vic/P41: 3D Prospects
VIC/P41: 3D PROSPECTS Northern Fields 3D |"* , Soe 2001 am (2001) ViglPA1 Gas Field Field 7 | Relinquished es es eee area Benchley Prospect Cotton ;Prospect Basker! | Manta/ (| Gummy ee O1& Gas b.| s Oscar Prospects po : + ; : Victoria fe Nes - Fields Top Golden Beach Depth map showing Kipper, Kipli
Slide 12: Vic/P41: Prospective Resource Estimates
VIC/P41: PROSPECTIVE RESOURCE ESTIMATES 3D SEISMIC DEFINED PROSPECTS PROSPECT STOCHASTIC PROSPECTIVE RESOURCES (RECOVERABLE) P90 P50 P10 Probability of OIL GAS OiL GAS OIL Success MMb Bef MMb Bef MMb GAS Bef KIPLING (Vic/P41 Gas 22% only) Oil 15% 66 388 124 620 205 944 BENCHLEY Gas 17% (Golden Beach
Slide 13: Other Leads
OTHER LEADS Gy O81 Fela RE Gas Field le Top Latrobe closure [-""] Intra-Halibut closure (7 Golden Beach closure BASS STRAIT
Slide 14: Vic/P41: Deep Water Leads - Eastern Area
VIC/P41; DEEP WATER LEADS — EASTERN AREA Prospective one-line structuring « Further 2D seismic coverage needed » Deeper water » Charge risk BASS STRAIT C3 fw Ausemisoss
Slide 15: Vic/P47: Prospects and Leads
VIC/P47: PROSPECTS AND LEADS Judith - Emperor Subgroup Prospective Gas Accumulation = Longtom-3 flowed at 77MMscf/d from Emperor Subgroup & FID is imminent a Longtom-3 upgraded prospectivity and reduced reservoir risk Gilbert Blocks : ob) Oils Gus Ld 7 age Gay Resources Nh. Vic/P47 Bass Strait Gil C
Slide 16: Judith Appraisal Opportunities
JUDITH APPRAISAL OPPORTUNITIES « Shell Australia, 1989 « Strong gas shows & seismic amplitude anomalies coincident with well passing through Judith Fault « Tilted fault block at Judith-1 « Emperor Subgroup — Kipper Shaie & Admiral Formation Reservoirs = 109.7m net pay interpreted BASS Sif
Slide 17: Judith Gas Sand - Acoustic Amplitude
JUDITH GAS SAND 3 — ACOUTSTIC AMPLITUDE Stucturally concordant amplitudes BASS Sif
Slide 18: Judith Deeper Sand - Acoustic Amplitude
JUDITH DEEPER SAND — ACOUSTIC AMPLITUTDE tu cturali ly Acoustic amplitude oncordant — 1000 amplitudes | : BASS STRAIT 2
Slide 19: Judith Gas Deliverability
JUDITH GAS DELIVERABILITY SSW ME gas sand water sand ago 000m Longtom 2 P Vertical Exaggeration ~2.4 « Longtom-3 lateral well produced at commercial rates (up to 77 MMscf/d) « Judith deliverability studies assume Longtom-3 style lateral wells BASS Sif
Slide 20: Vic/P47: Judith Gas Delivery
VIC/P47: JUDITH GAS DELIVERY Potential delivery site Patricia Baleen process facility ViciP47 Baas Strait Oil Company Ltd Roby Off & Gee Lid Eagle Bay Resources NL Nase oF NE. Moby Gite Gad lid Potential delivery site | Fatrica-Baleen hub | 40% 35% 28% SH Oli Field Gas Fieid Judith Eriperor Gas Play
Slide 21: Bass Basin Acreage - BAS 100% and operator
BASS BASIN ACREAGE — BAS 100% and operator ae a — page 2 gptiatat 7 o Hl rvroney t Sous _giosioes T37P| ~gPounboan TiseP) | gens oo Ge ® e, Pabcan:S freee qgpenanae pers BASS STRAIT ‘oil, a8 a é- ae i Durroon ‘Sub-basin Durroon Sub-basin Location Map After Edgerly and Taylor 1950, 2004 Gazettal pack
Slide 22: Bass Basin: 1/42P and 1/43P Leads
BASS BASIN :1/42P and 1/43P LEADS Durroon Sub-basin exhibits significant NW-SE structuring » Leads as identified by previous operators and studies _ 4 7 « Potential for new play concepts in undrilled section « Initial studies / data collection underway BASS STRAIT & C3 fw Ausemisoss ass Seeate
Slide 23: 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 STRAIT
Slide 24: T42/P: Near Base Eastern View TWT - Lead A
T42/P: NEAR BASE EASTERN VIEW TWT —-LEADA All available seismic from 1969 to the present converted to SEG Y « 2200km data scanned « 781km pre stack reprocessed, 1490km post stack reprocessed » Significant tilted fault block horsts at Intra Eastern View/Durroon Formations « Planned 2D/3D acquisition
Slide 25: Otway Basin - Portland Trough Oil Fairway
OTWAY BASIN — PORTLAND TROUGH OIL FAIRWAY PEP150 Lan any CRAs ae fie ee a ye Hea oie ol + 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 youn
Slide 26: BAS Permit interests
cu BAS Permit interests
Slide 27: 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
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