Past year: ▲ 167%(0.15c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Mar 2018half year report▼ Bad
Half year to 31 Dec 2017: petroleum revenue $0.82M, down 37%, net loss $923,629 including a $467,000 Kiliwani North impairment. Underlying earnings before impairment were $456,629. This confirms the Kiliwani impairment flagged earlier. Text is truncated.
27 Feb 2018admin correction● Neutral
Bounty amends its 19 February Kiliwani release because parts were non-compliant with ASX Chapter 5. The 57 BCF Kiliwani South figure and the 4.8 TCF Nyuni figure are deleted and replaced with qualitative descriptions. The Kiliwani North reserves are unchanged.
26 Feb 2018regulatory community update● Neutral
MEC says seismic equipment is being mobilised from the UK, with the PEP 11 2D survey expected to start in April and take 3-4 days. Bounty holds 15%. Timing slips from early 2018 to April, but the survey now looks near.
19 Feb 2018resource reserve update▼ BadMajor
First Kiliwani North reserves: 2P of 1.94 BCF gross after compression, with about 6.4 BCF already produced. Bounty's 9.5% share is 0.175 BCF. A Kiliwani South lead is named. Reserves are far below the 30.8 BCF in place because of compartmentalisation.
31 Jan 2018quarterly activities report▼ Bad
December 2017 quarter revenue was $391,237 (Kiliwani $54,298, Naccowlah $336,939), down from $492k. Output ended at 89 boe/day. Kiliwani recovered in December; Alton production is again said to be 3 months away at 45 bopd.
10 Jan 2018regulatory community update▲ GoodMajor
NOPSEMA formally accepted the PEP 11 Baleen 2D seismic environment plan, resolving the approval Bounty had been waiting on. Advent will start mobilising equipment. This clears a condition of the RL Energy farmout. Bounty holds 15%.
8 Jan 2018regulatory community update▲ GoodMajor
NOPTA approved an extension of the PEP 11 term to February 2021. This resolves the pending extension application. Commitments now include a 2D survey by Feb 2019, one exploration well in year 4 and 500 km2 of 3D seismic in year 5. Bounty holds 15%.
8 Jan 2018joint venture update● Neutral
MEC update on investee Advent: PEP 11 NOPSEMA response expected 11 January, RL Energy term sheet restated, and a marketing agency engaged to find drilling funders. Mostly repeats known facts; the rest concerns MEC's loan and Advent's other assets.
6 Dec 2017farm in farm out agreement▲ GoodMajor
Bounty confirms its conditional PEP 11 farmout to RL Energy: RL funds the 200 km 2D seismic to earn 10%, taking Bounty to 13.5%. An expedited 3D option (about $4M) could lift RL to 60%, diluting Bounty to about 6%. Cuts Bounty's cost exposure.
5 Dec 2017farm in farm out agreement▲ GoodMajor
A binding term sheet was agreed for RL Energy to fund PEP 11 2D seismic and earn 10%, diluting Bounty from 15% to 13.5%. Options could take RL to 60% via 3D seismic. Conditional on environment plan approval and title standing. This is the partner talk Bounty flagged.
4 Dec 2017regulatory community update● Neutral
MEC says NOPSEMA asked Advent for further written information on the PEP 11 seismic environment plan, with a reply due in 21 days and a decision about 21 days after. No resubmission needed. Bounty holds 15%; survey still early 2018.
30 Nov 2017agm notice● Neutral
AGM results: both resolutions passed on the voices. Proxy votes were 104.3M for and 21.7M against on resolution 1, and 182.3M for and 23.4M against on resolution 2. Administrative only.
29 Nov 2017investor presentation● Neutral
AGM presentation repeats known Surat Basin and AC/P 32 plans: Alton production targeted early 2018, Downlands gas likely 2018, Azalea 100 MMbo recoverable. Adds a Surat target table of about 1,040,000 bbl contingent resources. Text is truncated.
29 Nov 2017other● Neutral
Chairman's AGM address notes record income from oil and gas sales despite low oil prices. Alton workovers are being readied, and the AC/P 32 farm-out has still not succeeded. Largely repeats known points; no new figures.
9 Nov 2017listing compliance notice▼ BadMajor
ASX queried Bounty's September quarter Appendix 5B, saying cash of $1.089M and forecast outflows of $1.149M mean it may lack funds to continue operating, though gas receivables are owed. ASX asked about capital raising plans and compliance with Listing Rule 12.2. A response was due 9 November.
7 Nov 2017admin correction● Neutral
Bounty corrects its AGM notice: the 29 November 2017 meeting is on a Wednesday, not a Friday. Administrative only.
6 Nov 2017agm notice● Neutral
Bounty says its 2017 AGM will be held on 29 November 2017. Administrative notice only.
1 Nov 2017regulatory community update● Neutral
MEC says Advent resubmitted the revised PEP 11 environment plan to NOPSEMA. The 200 line km 2D seismic is now targeted for early 2018, later than the third quarter 2017 earlier expected. Bounty holds 15%.
31 Oct 2017quarterly activities report▼ Bad
September 2017 quarter revenue fell to $492,284 (Kiliwani $304,635) as Kiliwani was shut in part of the quarter; output ended at 171 boe/day. Alton first oil is again '3 months' away, now 45 bopd, and a heads of agreement was initialled with Armour on ATP 754P.
31 Oct 2017annual report● Neutral
2017 Annual Report repeats record $2.68M revenue, $0.9M operating profit before non-cash items and $2.39M cash with nil debt. It says Kiliwani is expected to contribute at lower rates in 2018, and an equity raising could be needed to drill a well.
31 Oct 2017other● Neutral
Corporate governance statement, current at 30 October 2017. It says there is no written diversity policy and no women in key management or on the board. No new business information.
31 Oct 2017other● Neutral
Appendix 4G governance checklist lodged with the annual report, pointing to the governance statement on the company website. Administrative filing with no new business information.
13 Oct 2017joint venture update● Neutral
PEP 11 2D seismic is awaiting a revised environment plan approval. A permit suspension and extension application is pending with NOPTA. The operator has hired a firm to attract major partners, and Bounty is in talks with investment partners. Bounty holds 15%.
29 Sept 2017annual report▲ Good
Media release on FY2017 results: record revenue $2.68M, net loss $0.38M (prior $4.42M), cash and current assets $2.39M, nil debt. Surat Basin oil and gas production is planned for 2018, and Bounty will join PEP 11 2D seismic in late 2017.
29 Sept 2017annual report▲ Good
Full-year accounts to 30 June 2017: revenue $2.68M (up 149%), net loss $387,778 (prior $4.43M) after $834,259 impairment. Directors' report notes Alton transfer completed and Irtalie East 6 cased as a potential producer.
11 Aug 2017drilling result▲ Good
Irtalie East 6 reached 2,070 m (planned 2,185 m) and was cased and suspended as a future Birkhead Formation oil producer. Bounty holds 2% of this Naccowlah development well, so the impact is small.
4 Aug 2017regulatory community update● Neutral
MEC says NOPSEMA gave initial feedback on the PEP 11 2D seismic environment plan submitted 3 July 2017, allowing modification and resubmission. Advent expects to address it within 30 days. Described as standard procedure. Bounty holds 15%.
31 July 2017quarterly activities report● Neutral
June 2017 quarter revenue was $716,652 (Kiliwani gas $519,851), with output slightly down to 262 boe/day. Kiliwani was shut in during July for maintenance and pressure tests. Alton production is still described as 3 months away, now at 25 bopd.
26 July 2017regulatory community update● Neutral
Bounty says Tanzania's new mining and mineral export laws do not affect it, as its joint venture operations are only in petroleum and gas. No change to its business.
20 July 2017production update● Neutral
Kiliwani North kept averaging 15 MMcf/d in 2017. TPDC payments were delayed, but all gas up to February 2017 had been paid, and operator Aminex was working to clear arrears. Partners were re-evaluating data for more drilling targets, and Bounty holds 10%.
