Slipper Reef lies just north of Rons Wall and follows the same pattern: a very flat reef top at 12–15 m and a reef edge that becomes vertical as it runs north-west, dropping to sandy, rocky bottom with kelp and small boulders at 26–29 m. The mooring sits on a large boulder in 23 m within a distinctive bay-like formation – three sides rise to 12 m and the fourth opens to deeper water – which makes a natural amphitheatre to explore at the start or end of the dive.

Fixed life is excellent. Sponges and gorgonians in pink, red, yellow and purple cover the reef edge, and caves on the south-eastern side often hold wobbegong sharks. Schools of big-eyes shelter in the overhangs, and one-spot pullers, old wife, black reef and six-spined leatherjackets, big bream and drummer crowd the reef. Cuttlefish and large bull rays are common, and like Rons Wall the site is known for male eastern king wrasse, a fish McFadyen describes as rare in NSW.

The layout allows divers to tailor the dive: a deep wall section heading north, a shallower section west along the edge, and a leisurely finish exploring the bay and caves around the mooring. The short run from Shellharbour means it can be done as a relaxed first or second dive, and the moderate top depth gives Advanced divers a long, varied dive with a safe, shallow end point. It is a favourite of Bass Point regulars on calm days, and the mooring makes it easy for private boats to find.

Launch from the Shellharbour Marina boat ramp (Shellharbour Village; trailer parking and toilets), about 105 km and 1.5 hours south of central Sydney. Head east out of the harbour and around Bass Point; Slipper Reef is about 3.5 km (under 10 minutes) from the ramp, north of Bass Point Island. The mooring is anchored on a large boulder at 34° 35.475' S 150° 54.423' E in 23 m.

Bass Point juts well out to sea south of Shellharbour, so its outer reefs take swell from the north-east through to the south. Boat dives here want a swell under about 1.5 m and moderate winds; in a south-easterly the outer sites become rough very quickly, and the short run from Shellharbour Marina means operators can come back in if conditions build. Westerly winds in late autumn and winter give the best flat seas and clearest water, often 15–20 m.

Visibility drops after big seas stir the sand and after heavy rain.

Start deep, heading north along the reef edge at 26–29 m for about 75 m, then return shallower. Next explore west from the mooring along the edge for another 75 m, and finish by checking the eastern, southern and south-western areas around the mooring and the south-eastern caves for wobbegongs.

Shellharbour Scuba and Photography Centre runs boat dives around Bass Point from Shellharbour Marina when numbers allow; United Divers (Fairy Meadow) and Sydney-based operators such as Expedition Dive run occasional charters; most other visits are private and club boats.