Bass Basin Exploration

The Bass Basin is under-explored and ARC believes there is considerable resource potential along with further upside from exploration.

Discoveries in the BassGas area have high liquids content which greatly enhances economics. In addition, the BassGas project provides a central infrastructure point for new gas developments.

There is also potential in the Yolla Field area for additional gas reserves and oil potential in the shallow section.

In addition to the Yolla Field and associated production licence, ARC’s interests in the Bass Basin include a number of contiguous exploration permits immediately surrounding the Yolla Field, including the Trefoil, White Ibis and Aroo gas condensate discoveries.

These discoveries provide immediate appraisal potential and recent 3D seismic acquisition over the area has allowed the potential of these discoveries to be further refined with appraisal drilling planned in late 2008.

ARC has also recently acquired a 40% interest in a further permit, to the west and south of the permits immediately surrounding Yolla. This contains a number of high quality gas and oil prospects which are planned to be drilled in 2008/2009.