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Bass close to securing Indonesian rig

Company now awaiting approval from Pertamina to hand out contract

Australian junior Bass Oil has secured a drilling rig for a planned development well at the Tangai Sukananti KSO in Indonesia.

Bass revealed Monday it had received tenders for a 750-horsepower capacity drilling rig for its planned Bunian-5 well, with contract terms and conditions already finalised with the preferred tenderer.

The company has submitted the contract award recommendation to state-run Indonesian company Pertamina and is awaiting approval.

Bass said it was hoping to drill the development well in October, with Bunian-5 anticipated to double production from the field to take up the remaining available production capacity of the Tangai-Sukananti field facilities as well as increasing developed reserves.

According to the company, total output from the Tangai-Sukananti KSO during July was 23,400, the second highest on record.

Bass also revealed Monday that it was progressing talks aimed at securing one or more onshore Indonesian acquisition targets as it looks to add additional prospective oil properties to its portfolio.

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