Roadhouse Presenting Diverse Program to Melbourne Investment Community
THE CONFERENCE CALLER: The Resources Roadhouse will be in Melbourne next week presenting our inaugural Resources Roadhouse Roadshow. Here’s a quick bite of two of the companies that will be presenting.
Encounter Resources (ASX: ENR) controls a large portfolio of 100 per cent-owned projects in one of Australia’s exciting mineral provinces considered prospective for copper and critical minerals including the Aileron project in the West Arunta region of Western Australia.
Encounter recently completed a $10.5 million placement, the funds from which have been earmarked to accelerate and expand the company’s upcoming drill program at Aileron project.
The drilling will pick up from results and modelling from the company’s 2023 exploration campaign that confirmed the presence of shallow, high-grade niobium-REE mineralised carbonatites at several prospects and the discovery of large-scale primary niobium-REE carbonatite-hosted mineralisation within a five kilometre corridor.
Elsewhere in the company portfolio, Encounter reported assays from two drill holes completed at the Zeta target at the Jessica copper project in the Northern Territory confirming the presence of copper sulphide bearing veins and alteration signatures associated with iron oxide copper gold (IOCG) style mineralisation.
“The NT has significant untapped copper potential which has been recognised by numerous major resources companies,” Encounter Resources managing director Will Robinson said.
“Located in a previously unexplored region of the NT, the first holes drilled at Zeta targeted large magnetic and gravity anomalies.
“Both holes intersected red-rock hematite alteration and copper associated with quartz–carbonate veining which is interpreted as a distal alteration signature to a potential IOCG style mineral system.”
The Jessica project is subject to a Joint Venture with South32, which has the right to earn a 60 per cent interest in the project via sole funding $15 million of exploration expenditure within 10 years.
Bass Oil (ASX: BAS) is an oil producer with majority interest in eight permits in the Cooper Basin of Australia that includes the 100 per cent-owned Worrior and Padulla oil fields.
The company is also in Indonesia where it holds a 55 per cent interest in the Tangai-Sukananti KSO, which it acquired in 2017 instantly transforming Bass Oil into a profitable oil producer in a prolific oil and gas region.
Bass Oil’s Tangai-Sukananti KSO 2P Reserves as at 31 December 2023 were assessed to be 0.741 million barrels of oil with production expected to continue until 2032.
In 2023 Bass secured a 10 year licence extension for the KSO which now expires in September 2035.
In October 2022 Bass completed the acquisition of its portfolio of Cooper Basin assets.
These included a 100 per cent interest in the producing Worrior and Padulla oil fields that, as of January 2024, are producing approx. 100 barrels of oil per day (bopd) at a gross profit margin of around $64 per barrel at a Brent oil price of around US$80.
The fields provide 2P reserves of almost 366,000 barrels of oil and 2C contingent resources of approximately 582,000 barrels of oil.
The portfolio also contains properties that host prospective appraisal and exploration opportunities.
Bass Oil owns a high equity stake (74%-100%) in fifteen Cooper Basin licences, representing one of the largest acreage holdings in the core of the Cooper Basin covering a cumulative area of approximately 1,900 square kilometres.