Past year: ▲ 167%(0.15c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 Feb 2015joint venture update▼ Bad
Kiliwani North: TPDC has started the skid metering unit and laid pipe to the licence boundary. Pipeline pressure testing is now expected in the first half of 2015, a slip from Q1. The gas sales agreement remains unsigned. Bounty holds 10%.
10 Feb 2015joint venture update● Neutral
Bounty repeats that NOPTA suspended the PEP 11 Year 2 work programme until 12 August 2015. The revised programme lists a 200 km 2D survey and, later, an exploration well and 500 km2 3D survey. This is a re-release of the partner's notice.
10 Feb 2015joint venture update● Neutral
Partner MEC Resources reports regulator NOPTA approved suspending PEP 11's Year 2 work programme (200 km 2D seismic and geotechnical studies) until 12 August 2015. Asset Energy holds 85% as operator, Bounty 15%.
5 Feb 2015joint venture update▼ Bad
Kiliwani North's gas sales agreement, largely complete, is delayed by government approval processes. Operator Aminex now targets first production in the first half of 2015, versus early 2015 earlier. Pipeline pressure testing is expected in Q1 2015. Bounty holds 10%.
20 Nov 2014asset acquisition disposition▲ GoodMajor
Bounty confirms an indicative agreement to buy all Empire's Carnarvon Basin permits, including Rough Range oil field, now said to be held 100% by Bounty, and the Rivoli gas discovery. A formal agreement is still to be finalised; no price given.
20 Nov 2014other● Neutral
AGM address: FY14 petroleum revenue passed $3M, but Tapis oil has fallen from US$105 to US$79.50, which would hit next year's income if it persists. Kiliwani gas contract signing expected shortly; Carnarvon purchase from Empire noted; Azalea farm-out interest from several large companies.
20 Nov 2014investor presentation● Neutral
AGM presentation repeating known themes: FY14 profit $1.14M, record oil revenue $3.14M, Azalea 500 MMbbl in place farm-out, and Kiliwani gas lifting Bounty from about 60 to over 400 boepd in early-mid 2015. No new events.
20 Nov 2014asset acquisition disposition▲ GoodMajor
Empire Oil & Gas says it signed an indicative deal to sell Rough Range Oil Pty Ltd, holding its six Carnarvon tenements (36-90% interests), to Bounty for a small cash sum plus production royalties. Subject to a formal share purchase agreement.
13 Nov 2014joint venture update● Neutral
Kiliwani North's 2 km wellhead pipeline to the Songo Songo plant has started, due by end 2014. The gas sales agreement is largely complete, awaiting TPDC and Ministry approval. Aminex is selling up to 13% to Solo Oil for US$6.5M; Bounty waived pre-emption rights.
30 Oct 2014annual report▲ Good
FY14 annual report: first year above $3.1M crude sales and $1,138,300 profit, with no new equity raised. Discovered P2 reserves stay at 2.66 million boe. Kiliwani gas sales are expected early 2015. Azalea is put at 500 million bbl in place, 100 million recoverable.
17 Oct 2014price query● Neutral
ASX asked Bounty to explain a rise in its share price from $0.016 to an intra-day $0.020, with higher trading volume. This is only the query; no explanation or reply is included in the text.
17 Sept 2014annual report▲ Good
Year to June 2014: net profit $1.138M against a $1.497M loss, on total revenue of $4.118M. Petroleum revenue was $3.143M, and trading securities profit was $1.239M. Cash and current assets $3.85M, nil debt. Roy Payne joined and Higginbotham resigned.
17 Sept 2014annual report▲ Good
Media release for the FY14 accounts: oil revenue up 45% to $3.14M, net profit $1.138M, cash $3.85M, nil debt. The CEO cites the Azalea farm-out campaign and Kiliwani gas on track for early 2015. It repeats the accounts, with no new events.
5 Sept 2014joint venture update▲ Good
Operator update says Kiliwani North's first gas into the new regional pipeline is due early 2015, at about 20 MMcf/d gross (about 3,500 boepd). The state gas sales agreement is largely negotiated with no material issues left. Bounty holds 10%.
1 Aug 2014security holder rights change● Neutral
The 20 million unlisted options exercisable at $0.032 lapsed unexercised, leaving Bounty with no options on issue. No new shares or cash result.
4 July 2014regulatory community update▲ GoodMajor
AC/P 32 has been renewed for five years from 24 June 2014, covering 342 km2 and the Azalea prospect. Bounty (100%) is seeking partners to drill Azalea in 2015/16, resolving the renewal pending since April.
20 June 2014joint venture update▲ Good
Partner MEC Resources says the PEP 11 joint venture (Asset Energy 85% operator, Bounty 15%) is preparing a roughly 225 km2 3D seismic survey off Sydney. Timing is November 2014 to May 2015, subject to approvals and a vessel.
6 June 2014director officer appointment● Neutral
Sachin Saraf, a CPA, is appointed Company Secretary and Financial Controller, filling the role left by Higginbotham. The board is now Reveleigh (chair), Ross and Payne, with Kelso as CEO.
5 June 2014director officer appointment● Neutral
Director and company secretary Gary Higginbotham retired for ill health and resigned all Bounty positions. He had served since 2008. This removes the CFO and secretary role held with the board.
30 May 2014director officer appointment● Neutral
Roy Payne, a Queensland commercial lawyer with over 30 years' experience, joins the board as an additional director. Bounty calls it a first step in broadening the board's expertise.
14 Mar 2014half year report▲ Good
Half year to December 2013: net profit $1.09M, against a $1.50M loss for FY13. Oil revenue rose 37% to $1.55M. Cash and investments were $3.85M, down from $5.61M at June 2013. Azalea farmout campaign continues.
12 Mar 2014investor presentation● Neutral
CEO conference presentation repeats known themes: 2013 oil revenue $2.6M, Kiliwani gas from early 2015, and a plan to drill Azalea in AC/P 32. Market cap $13.1M at $0.014. It now quotes Azalea recoverable as 100-200 MMbo, versus 113 MMbo earlier.
28 Feb 2014joint venture update▲ Good
Operator Aminex reports Tanzanian state-built pipeline and Songo-Songo plant on schedule for early 2015, with the lateral 15% laid. The Kiliwani North gas sales agreement is now 'largely complete', up from 'advanced' talks. Bounty holds 10%. (Release text carries an old 2013 date line.)
2 Dec 2013drilling result● Neutral
Utopia 16 (Bounty 40%) was cased as a potential Murta producer with a 7 m oil column in low-productivity sands. Bounty went non-consent in Utopia 15, also cased with oil shows, and in Utopia 17, keeping buy-back rights in both.
27 Nov 2013investor presentation▲ GoodMajor
CEO's AGM presentation puts Azalea at 511 million barrels in place and 113 million recoverable, to be farmed out for drilling in FY2014/15. It plans the 500 BCF Fanjove gas well in early 2014 (Bounty 5%) and says Bounty is working on acquisitions in Australia.
15 Nov 2013drilling spud● Neutral
Utopia 16 spudded 11 November 2013 and was drilling at 995 m, aiming for the Murta Zone about 900 m east of Utopia 14. Bounty holds 40%. Utopia 17, where Bounty went non-consent, was cased and suspended pending operator review.
6 Nov 2013other● Neutral
Beach Energy's October drilling report covers Cooper Basin wells and Egypt and Romania; Bounty is not mentioned. PEL 218 is noted as Beach 70%, Chevron 30%, with Boston-3 drilling there. Little relevance to Bounty beyond that.
1 Nov 2013material agreement▲ Good
Operator Aminex says Kiliwani North gas sales talks with Tanzania's state company are advanced and expected to conclude before year end. The state will build the tie-in line at its cost, with gas sold at the wellhead. First gas stays early 2015; Bounty holds 10%.
30 Oct 2013drilling scheduled● Neutral
Bounty plans a new Utopia drilling round at its 40% PL 214 field: it will join Utopia 16 and, if that succeeds, Utopia 15. It goes non-consent in Utopia 17, spudding the next day, keeping buy-in rights. This follows the Utopia 14 success.
30 Oct 2013annual report● Neutral
2013 annual report repeats the year's results: petroleum revenue $2.173M, $3.228M fresh equity raised, and discovered reserves of 4.42M boe. The chairman says Bounty is confident of a farm-in partner for a proposed $25M AC/P 32 well targeting 20-80M barrels. No new events.
