Bountys Woodada19 report,24/5/2002

  1. 2,104 Posts.
    Good to see that Bounty is still making announcements to its shareholders even though there's no extra news since yesterdays report.

    Progress Report for Woodada #19 Well

    Document date: Fri 24 May 2002 Published: Fri 24 May 2002 12:28:57
    Document No: 216756 Document part: A
    Market Flag: N
    Classification: Progress Report

    HOMEX - Perth

    Bounty Oil & Gas NL provides the following progress report on the
    drilling of the Woodada #19 gas well. All depths are in metres below
    the Kelly Bushing on the rig floor.

    Period: 24 hours to 6am on 24/5/02.

    Current Depth: 2,841 mKB (Total Depth).

    Progress: Pull out of hole and lay down drill pipe.
    Commence running 7 inch (178mm) casing.

    Forward program: 1. Conduct long term flow testing through
    casing of the sandstones within the basal
    Irwin River Coal Measures and High Cliff
    Sandstone to determine type of formation
    fluid (oil or water) and productivity.

    2. Conduct long term flow testing of Carynginia
    Limestone to confirm the economic potential
    for gas production.

    Indications: Please refer to previous announcements.

    Primary and Secondary
    Targets: Please refer to previous announcements.

    Participants: Hardman Resources Ltd 75%
    Bounty Oil & Gas NL 25%

    T Fontaine

    NOTE: In accordance with ASX listing requirements, the geological
    information supplied in this report has been based on information
    provided by geologists who have had in excess of five years
    experience in their field of activity.


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