Oil sales for February totalled 18,656 barrels of oil and the monthly average oil price achieved was US$60.51, up from the average price of US$55.74 per barrel recorded in January.
An average of 690 barrels of oil per day was produced, down only 3% from January despite both the Bunian and Tangai 1 wells being shut for a substantial period due to downhole pump failures.
Tangai 1 has since been returned to production after pump repair operations and the company is awaiting a well service rig, expected in late March or early April, for pump replacement at Bunian 1.
Bass has sought approval from Indonesian state-owned oil and natural gas corporation PT Pertamina to issue a tender for a 750-horsepower capacity drilling rig to drill the Bunian 5 well.
Drilling is expected to begin by mid-year and Bass anticipates Bunian 5 will double production from the field and increase developed reserves.
Evaluation of potential onshore acquisition targets continues as Bass seeks to add prospective oil properties to its portfolio.