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Corporate Spotlight

Bounty is pursuing a two branched business strategy to provide shareholders with opportunities for major capital gains through high impact growth exploration backed by a core business of production and low risk exploration to underpin the value of the company.
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NEW APPRAISAL DRILL

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New Appraisal Drill – Tennaperra 9 Naccowlah Block 

ASX Announcement 6 September 2019 


Bounty Oil & Gas NL (Bounty) reports successful continuation of the 2019 oil appraisal program at the Naccowlah Block, SW Queensland.


A further well; Tennaperra 9 was designed to test for an easterly extension of the producing zones in the Tennaperra Field into the Pinaroo PCA Block (within the Naccowlah Block near the Western edge of the Block).


Tennaperra 9 is located northwest of the producing Watkins Field located in PL 35 Naccowlah Block approximately 45 km southwest of the Jackson Oil Facility. (See Figure 1). The well was drilled with the Ensign 950 rig. 


Well details – Tennaperra 9:- 

Tennaperra 9 - was a vertical well drilled to total depth of 1819 metres MDRT designed to test for and further appraise several zones in the Westbourne and Birkhead Formations.


Location: 

Latitude - 28 degrees 0 minutes 38.74” South 

Longitude - 142 degrees 0 minutes 00.23” East


The well was spudded on 30 August 2019 and completed on 5 September 2019. 


The well encountered good oil shows in the Westbourne and Birkhead Formations with logging indicating net oil pay in the Birkhead Formation. After logging and fluid testing the well was cased and suspended as a potential Birkhead producer.


Bounty has a 2% interest in the Pinaroo PCA and Naccowlah Block.


Abbreviations: 

MDRT: measured depth below drill rig rotary table (metres) 

PCA: potential commercial area



Bounty is an Australian ASX listed oil producer and explorer (ASX Code: BUY). Its core petroleum production and exploration assets are located in the Cooper/Eromanga Basins in SW Queensland and South Australia and in the Surat Basin; E Queensland. It also holds oil exploration interests in Western Australia. Its growth assets are spread over a number of high impact projects in Australia where it is exploring for oil and gas. In Australia it holds 100% of AC/P32 in the Timor Sea and a 15% interest in PEP 11 offshore Sydney Basin.


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2 WELL APPRAISAL DRILLS

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2 Well Appraisal Drills – Watson North Naccowlah Block 

ASX Announcement 4 June 2019 


Bounty Oil & Gas NL (Bounty) reports successful continuation of the 2019 oil appraisal program at the Naccowlah Block, SW Queensland.


The further 2 well program was designed to further appraise and develop the producing zones at Watson North Field. Watson North is located in PL 35 Naccowlah Block approximately 45 km southwest of the Jackson Oil Facility. (See Figure 1). The wells were drilled with the Ensign 967 rig.


Well details – Watson North 3:- Watson North 3 - 


was a vertical well drilled to planned total depth of 1719 metres MDRT designed to further appraise several zones in the Westbourne and Birkhead Formations


Location

Latitude - 28 degrees 3 minutes 34.92” South 

Longitude - 142 degrees 4 minutes 46.93” East


The well was spudded on 5 May 2019 and completed on 16 May 2019. 


The well encountered good oil shows with logging indicating 7.6 metres net oil pay in the Westbourne Formation. After logging the well was cased and suspended as a potential Westbourne producer.


Well details – Watson North 2:-

 

Watson North 2 – was a vertical well drilled to planned total depth of 1715 metres MDRT designed to further appraise several zones in the Westbourne and Birkhead Formations. 


Location:

Latitude - 28 degrees 3 minutes 16.78” South 

Longitude - 142 degrees 5 minutes 5.99” East 


The well was spudded on 18 May 2019 and completed on 25 May 2019. 


The well encountered good oil shows in the Westbourne Formation. After logging the well was cased and suspended as a potential Westbourne producer.


Bounty has a 2% interest in the Naccowlah Block. 


Abbreviations: 

MDRT: measured depth below rig rotary table (metres)



Bounty is an Australian ASX listed oil producer and explorer (ASX Code: BUY). Its core petroleum production and exploration assets are located in the Cooper/Eromanga Basins in SW Queensland and South Australia and in the Surat Basin; E Queensland. It also holds oil exploration interests in Western Australia. Its growth assets are spread over a number of high impact projects in Australia where it is exploring for oil and gas. In Australia it holds 100% of AC/P32 in the Timor Sea with the Azalea Prospect as its first drill target and a 15% interest in PEP 11 offshore Sydney Basin.


Click here to view the full announcement

NACCOWLAH BLOCK

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2019 Oil Drilling Continuation - Naccowlah Block 

ASX Announcement 13 March 2019 


Bounty Oil & Gas NL (Bounty) reports that following completion of the first 3 wells; the 2019 program will continue with 2 appraisal wells at the Watson North Oilfield, Naccowlah Block, SW Queensland commencing with Watson North 2 around 21 March 2019. 


The 3 wells completed in 2019 have further developed and appraised the producing zones at Watkins Oil Field. Watkins 4 and 5 achieved very good well results which have extended the Watkins producing Birkhead zones. Watkins 6 was plugged.


Watkins and Watson North Fields are located in PL 35 Naccowlah Block approximately 40 km southwest of the Jackson Oil Facility (see Figure 1).


Bounty is an Australian ASX listed oil producer and explorer (ASX Code: BUY). Its core petroleum production and exploration assets are located in the Cooper/Eromanga Basins in SW Queensland and South Australia and in the Surat Basin; E Queensland. It also holds oil exploration interests in Western Australia. Its growth assets are spread over a number of high impact projects in Australia where it is exploring for oil and gas. In Australia it holds 100% of AC/P32 in the Timor Sea with the Azalea Prospect as its first drill target and a 15% interest in PEP 11 offshore Sydney Basin. 


FIGURE 1 

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MANAGEMENT

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DIRECTORS

GRAHAM REVELEIGH

Chairman; Non-Executive Director
Qualifications:BSc. MSc, M. Aus IMM.
ExperienceMr Reveleigh is a professional geologist and has nearly 41 years experience in the resources industry both in Australia and overseas. Early in his career, he worked in the oil industry, then spent most of his career in exploration, mine management and construction in the mineral industry. Mr Reveleigh has had extensive experience in petroleum in recent years as a director of Drillsearch Energy Limited and a director of Canadian producer: Circumpacific Energy Corporation. He retired as a director of those companies in late 2007. He is a Member of the Australasian Institute of Mining and Metallurgy and a member of the Petroleum Exploration Society of Australia. He was appointed a director and chairman in 2005.
Special responsibilitiesChairman of the company; geotechnical advice.

CHARLES ROSS

Non-Executive Director
Qualifications:BSc.
ExperienceMr. Ross has had extensive experience in the private and public equity and corporate finance market in Canada, USA and Europe for 20 years. He has operated extensively in corporate asset acquisition and divestiture, review and development of corporate financing strategies, administration, compliance procedures and investor relations in North America and the Euro zone. He was a director of Circumpacific Energy Corporation (a subsidiary of Drillsearch Energy Limited) from 1992 until 2008. This has included management involvement in most aspects of petroleum exploration, development and production operations in the Western Canada Basin and other areas. He was appointed a director in 2005.
Special responsibilitiesAudit reviews.

ROY PAYNE

Non-Executive Director
Qualifications:Solicitor, Queensland.
ExperienceMr Payne is a commercial lawyer with over 30 years’ experience. Prior to working in private practice as a lawyer he worked for the Department of Justice, Queensland for 12 years where he qualified to be a Clerk of the Court and a Magistrate.

Mr Payne has many years of experience in the corporate world. He has been the chairman of a listed mining exploration company. He is currently the chairman of the board of a private ship maintenance and repair company and the chairman and director of two limited liability, not for profit companies that operate a public art gallery and a gallery foundation. He has a wealth of knowledge and experience with corporate governance and mining exploration.

Special responsibilitiesCommercial law and Queensland statutory compliance.

MANAGEMENT

PHILIP F KELSO

Chief Executive Officer
Qualifications:BSc. LLB
ExperienceMr. Kelso has 45 years experience as a lawyer and geologist. He started his career as a hard rock geologist and after 7 years switched to law in 1975. He practised as a barrister and solicitor focussed on commercial, resources and environmental law. He has international oil and gas experience having worked on exploration, development, acquisition and commercialisation projects in Australia, North America, South East Asia and Europe.Until 2007 Mr. Kelso was Managing Director of Drillsearch Energy Limited and of its Canadian offshoot Circumpacific Energy Corporation. He managed the group's growth through project and equity financing as it participated in a major oil development project in the Cooper Basin and land and equity acquisitions which laid the grounding for its major growth as a Cooper Basin oil producer and in development of its assets in the Western Canada Basin.He was Chairman and Director of Dome Resources NL and has overseen mine development and operations.He was appointed CEO of Bounty Oil in March 2008 and has overseen its acquisitions and oil and gas development projects in Australia and Tanzania.

SACHIN SARAF

Company Secretary, Financial Controller
Qualifications:B.Com (Hons); PGDCom, CPA
ExperienceMr Saraf comes with significant experience in upstream petroleum production operations with several ASX listed energy companies.



INVESTOR NEWS

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INVESTORS

http://www.bountyoil.com/home/investors/


CONTACT

BOUNTY OIL & GAS NL 

Level 7, 283 George street, Sydney NSW 2000

Ph: 61 2 9299 7200
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