Past year: ▲ 167%(0.15c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Feb 2013drilling result▲ GoodMajor
Utopia 14 reached total depth with very good oil shows over a 12 m interval in the Murta zone, at the Utopia East closure about 3 km from the main pool. Logging is still to come; Bounty (40%) says this opens more of the 200 sq km lease.
11 Feb 2013drilling spud● Neutral
Utopia 14, the second of two Utopia development wells with Bounty at 40%, spudded 10 February 2013 to test a separate eastern closure, targeting about 1,030 m. Success is said to add around 25 bopd and could lead to a wider development of the field.
8 Feb 2013drilling result● Neutral
Utopia 13 hit the Murta oil reservoir with 2-3 m of net good sand above the oil-water contact and will be cased as a producer. Bounty went non-consent here, so it does not share in this well's result unless it buys in. Utopia 14 is due to spud around 11 February.
8 Feb 2013price query● Neutral
ASX queried the share price rise from $0.021 to an intra-day high of $0.028 on 8 February 2013, with higher trading volume. Text is the query only; Bounty's reply is not included.
7 Feb 2013admin correction● Neutral
Bounty adds the competent person statement for reserves and resources figures in its 4 February 2013 seminar presentation. No new information.
5 Feb 2013investor presentation● Neutral
CEO presentation to an investor seminar repeats known projects: Utopia drilling, AC/P32, Kiliwani North at 10%, and Nyuni. It gives 838.4M shares quoted, a $0.02 share price and a $16.7M market capitalisation. Government plans have Kiliwani North producing in early 2014.
31 Jan 2013quarterly activities report● Neutral
December quarter: oil revenue $557,254 on 5,883 bbl sold, up from $472,362. Half-year oil revenue was $1.03M versus $1.29M a year earlier. Utopia 12 and 14 are due to start in February 2013; current assets exceed $6M.
30 Jan 2013drilling scheduled▲ GoodMajor
Bounty will join two Utopia development wells (Utopia 12 and 14, 40% interest) from around 5 February 2013, targeting an additional gross 8 MMbbl. Success could more than double its Utopia oil output. It goes non-consent on Utopia 13 but keeps buy-back rights.
24 Dec 2012capital raising announcement● Neutral
Bounty issued 44.25M shares to employees and directors approved at the AGM, raising $299,250: 38.25M at $0.005 and 6M at $0.018. Options exercisable at $0.14 lapsed, leaving 20M options at $0.032. Shares quoted now total 816.4M.
What it means for a shareholder
44.3m new shares at about A$0.0068 to raise about A$299,250. That's 5.3% dilution: every existing holder's slice gets 5.3% smaller. If you held A$1,000 of shares (147,870 at the issue price), your slice goes from 0.0186% to 0.0176% of the company. To keep it you'd need 8,239 more shares - about A$56 at the issue price.
Create a free account to see this worked out for your own holding.
22 Nov 2012agm notice● Neutral
Results of the 22 November 2012 AGM: all twelve resolutions passed on the voices, with proxy votes in favour well ahead of those against. Administrative.
22 Nov 2012investor presentation● Neutral
AGM chairman's address and CEO presentation say the Key Tanzania purchase is complete, giving Bounty 10% of Kiliwani North. They also say Bounty will seek a joint venture partner to drill a 20-80 MMbbl AC/P32 target, and the Farawell 3D shows up to 700,000 bbl. Largely repeats known facts.
19 Nov 2012asset acquisition disposition▲ GoodMajor
Key Petroleum sold all its Tanzanian assets to Bounty, including its 5% of Kiliwani North and subsidiary Funguo Petroleum. Bounty pays US$250,000 cash plus A$156,000 of Bounty shares. This completes the extra 5% Kiliwani North interest noted earlier, bringing Bounty to 10%.
31 Oct 2012annual report● Neutral
2012 annual report restates the record oil revenue of $2.66M, a $30.83M net asset figure, nil debt, and 100% of AC/P32. It states Bounty lifted its Kiliwani North interest to 10% (45 BCF certified reserves). It largely repeats results already reported.
31 Oct 2012quarterly activities report● Neutral
September quarter: oil revenue $472,362 on 4,629 bbl sold, down from $585,520 as new Naccowlah well flush production faded. Farawell 3D completed; Irtalie East 2 was dry in the target but Irtalie East 3 found 10.4 m of pay. Three Utopia wells planned from about January 2013.
19 Oct 2012regulatory community update▲ GoodMajor
The regulator approved a variation to AC/P32's work commitment. Bounty (100%, operator) must now reprocess 100 km² of seismic over permit years 4 and 5, with no obligation to drill. Reprocessed data shows two prospects of 20-80 MMbbl and a 10-20 MMbbl lead.
28 Sept 2012agm notice● Neutral
Bounty gives notice that its Annual General Meeting will be held on 22 November 2012 at 10.00 a.m. in Sydney. Administrative notice only.
26 Sept 2012annual report▲ Good
FY12 accounts: record oil revenue $2.665M and net profit $2.122M, including $1.705M realised gains on listed securities. Cash and current assets $6.64M, nil debt, net assets $30.87M. Bounty also bought out partners in AC/P 32.
14 Aug 2012farm in farm out completion● NeutralMajor
PEP 11 renewed for five years from 13 August 2012. Advent's subsidiary Asset Energy has formally registered its 85% interest, earned by drilling New Seaclem-1, leaving Bounty with 15%. This completes the transfer left open since January 2011.
31 July 2012quarterly activities report▲ GoodMajor
June quarter: revenue $585,520; FY12 oil revenue up 35% to $2.32M. Bounty reports acquiring 100% equity and operatorship of AC/P 32. An independent review lifts Nyuni undiscovered gas to 5.6 TCF (280 BCF net). Farrawell 3D has started.
31 May 2012regulatory community update▲ Good
A 335 line-km 2D seismic survey has started in the Nyuni transition zone, taking about six weeks. A 500 km deep-water survey follows in late 2012. Together they meet the initial work commitment, which runs to October 2013. Bounty holds 5%.
27 Apr 2012quarterly activities report● Neutral
March quarter: revenue $486,535 on 5,193 bbl sold, slightly below the prior quarter. Downlands remains shut in; Farrawell 3D is delayed to late second quarter. Kiliwani North pipeline materials bought but the sales contract is still being negotiated.
14 Mar 2012half year report▲ Good
Half-year to December 2011: net profit $1.238M versus a $251,208 loss for FY11, on oil revenue up 42.3% to $1.44M. Cash $1.197M; current assets and investments $6.07M. Azalea drill decision expected by mid-year.
31 Jan 2012quarterly activities report▲ Good
December quarter: revenue $530,166; calendar 2011 oil revenue a record $2.11M. Current assets $5.6M. Downlands is now fully owned but still shut in. Utopia 3D seismic indicates up to 8 MMbo; Farrawell 3D contracts signed.
5 Jan 2012price query● Neutral
ASX queried the share price rise from $0.018 to an intra-day $0.026 on 5 January 2012. Bounty answered that it knew of no undisclosed information and no other explanation, and confirmed it complies with the listing rules.
29 Nov 2011agm notice● Neutral
Results of the 28 November 2011 AGM: all three resolutions passed on the voices, with proxy votes in favour well ahead of those against. Administrative.
28 Nov 2011investor presentation▲ GoodMajor
Chairman's AGM address calls 2011 challenging but financially sound. It announces Bounty has bought partners' Downlands interests and now owns 100%, with oil development in 2012. Kiliwani North tie-in is expected early 2012 and an Azalea/Wisteria well within 2 years.
28 Nov 2011investor presentation● Neutral
CEO AGM presentation restates known facts: 772M shares, market cap about $15.4M, 2P reserves 3.37 MMboe. Plans 5 or more wells in 2012 and aims to at least double production, though Utopia 10 and 11H underperformed.
1 Nov 2011material agreement▲ GoodMajor
Operator Aminex signed the new Nyuni Area PSA covering 1,690 km² offshore Tanzania, replacing the expiring original PSA and adding 338 km² of northern blocks. Bounty holds 5%. This resolves the open PSA renewal; resources remain 2.8 TCF (Pmean).
1 Nov 2011quarterly activities report● Neutral
September quarter: revenue $718,058 across Utopia, Naccowlah and Downlands, with 10,686 boe produced. Utopia 3D seismic indicates 8 MMbo above the oil-water contact, with more drilling planned. Nyuni 2 is suspended; Farrawell Updip 3D seismic has not started.
31 Oct 2011annual report● Neutral
2011 Annual Report repeats the results already released: oil revenue up 164% to $1.72M, net loss $251,208, $1.33M profit on trading listed securities, $5.46M cash and investments, no debt. It confirms Nyuni 2 was suspended. AGM is set for 28 November 2011.
