Past year: ▲ 167%(0.15c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
26 Feb 2019drilling result▼ Bad
Watkins 6 reached 1,713 m, testing the southern limit of the Watkins field, and found reasonable oil shows in several Westbourne and Birkhead sands. It was plugged and abandoned after logging, and the rig moved to Watkins 5. Bounty holds 2%.
20 Feb 2019drilling spud● Neutral
Watkins 6, the second well in the 2019 five-well appraisal programme, spudded 20 February with planned depth 1,706 m. Bounty holds 2%.
19 Feb 2019drilling result▲ Good
Watkins 4 reached 1,740 m, finding a 12 m gross interval in the Birkhead reservoir with good oil shows. It is cased and suspended as a potential producer. Rig moves to Watkins 6. Bounty holds 2%.
13 Feb 2019drilling spud● Neutral
Watkins 4 spudded 11 February 2019, the first of a five-well appraisal programme at Watkins and Watson North. Planned depth is 1,740 m. Bounty holds 2%.
10 Dec 2018drilling result▲ GoodMajor
Wallis 1 found oil in the Adori, Birkhead and Birkhead/Hutton zones at 1,913 m and is cased and suspended as a potential producer. It was the last well of the 2018 Naccowlah campaign and the rig is released. Bounty holds 2%.
3 Dec 2018drilling spud● Neutral
Wallis 1, a near-field exploration well 6.3 km southwest of Jarrar, spudded 2 December with planned depth 1,931 m, targeting the Birkhead and Poolowanna zones. Bounty holds 2%.
30 Nov 2018drilling result▼ Bad
Wenda 1 reached 1,960 m with reasonable oil shows in the Westbourne and Birkhead zones and is being plugged and abandoned. It is the second near-field exploration well in a row not completed. Rig moves to Wallis 1. Bounty holds 2%.
26 Nov 2018drilling spud● Neutral
Wenda, a near-field exploration well 6.6 km west of Jarrar, spudded 23 November with planned depth 1,963 m, targeting the Birkhead and Poolowanna zones. Bounty holds 2%.
20 Nov 2018drilling result▲ Good
Cooroo North West 2 reached 1,902 m and found good oil in the Westbourne and Birkhead zones. It will be cased and suspended as a potential Birkhead or dual-zone producer. Rig moves to Wenda. Bounty holds 2%.
15 Nov 2018drilling spud● Neutral
Cooroo North West 2, an appraisal well in the producing Cooroo NW field, spudded 14 November with planned depth 1,899 m. Bounty holds 2%.
12 Nov 2018drilling result▼ Bad
Pallano East 1 reached 1,973 m with only reasonable oil shows and is being plugged and abandoned. It is a miss among the recent successes at Naccowlah. Rig moves to Cooroo NW 2. Bounty holds 2%.
5 Nov 2018drilling spud● Neutral
Pallano East 1, a near-field exploration well testing a 3D seismic structure northeast of Jarrar, spudded 4 November with planned depth 1,964 m. Bounty holds 2%.
5 Nov 2018drilling result▲ Good
Jarrar 5 found an oil column in the Birkhead/Hutton zone and is cased and suspended as a potential producer, resolving the pending result. The CEO counts four successful wells in the Birkhead zone. Rig moves to Pallano. Bounty holds 2%.
1 Nov 2018drilling progress report▲ Good
Jarrar 5 spudded 27 October and reached 1,954 m with oil shows in the Birkhead/Hutton zone. Logging is being prepared. Bounty holds 2%.
23 Oct 2018drilling progress report● Neutral
The rig has moved to the Jarrar 5 location, the second Jarrar appraisal well, and is under scheduled maintenance before spudding. It will test the Birkhead/Hutton zone. Bounty holds 2%.
18 Oct 2018drilling result▲ Good
Jarrar 4 reached 1,947 m and found an oil column in the Birkhead/Hutton zone. It is being cased and suspended as a potential producer. The rig moves 2 km to Jarrar 5. Bounty holds 2%. A third successful appraisal well after Watkins 2 and 3.
16 Oct 2018drilling spud● Neutral
Bounty reports two more appraisal wells at the Jarrar Field in PL 77, Naccowlah Block. Jarrar 4 was spudded 11 October and had reached 1,846 m with drilling continuing. Bounty holds 2%.
21 May 2018drilling result▲ GoodMajor
Watkins 2 and Watkins 3 (spudded 12 May, TD 1,736 m) both found oil in the Birkhead Formation and were cased and suspended as potential producers. The rig has been released. Bounty holds 2%. This continues the Naccowlah drilling program and adds to the Irtalie East 6 success.
10 May 2018drilling spud● Neutral
Bounty is joining a 2-well oil appraisal program in the Naccowlah Block; the first well was spudded 4 May 2018 and drilled to 1,697 m. Bounty holds 2%. Results are to be reported at the end of the well. Corrected in the next release.
4 May 2018farm in farm out agreement▲ GoodMajor
MEC said a conditional PEP 11 farmin agreement was signed by Asset Energy and RL Energy, replacing the term sheet. RL earns 5% by preparing the environmental approval documents and a further 55% by completing a 500 km2 3D survey, carrying Asset's costs up to $4M. Bounty (15%) supports it.
20 Apr 2018drilling result▲ GoodMajor
The PEP 11 2D seismic survey of about 200 line km was completed on 19 April 2018, meeting the Year 2 commitment and putting the permit in good standing. Processing comes next; the RL Energy farmout still depends on its conditions. Bounty holds 15%.
16 Apr 2018drilling progress report▲ Good
The PEP 11 2D seismic survey of about 200 line km has begun, mainly over the Baleen gas prospect 30 km southeast of Newcastle. It satisfies the Year 2 work commitment. Bounty holds 15%.
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.
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.
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.
18 July 2017drilling spud● Neutral
Irtalie East 6 development well spudded 17 July 2017 in the Naccowlah Block, planned to reach 2,185 m. Bounty holds 2% and will report results at the end. Small interest in a routine development well, consistent with the planned Naccowlah drilling.
19 May 2016drilling scheduled● Neutral
MEC says ocean bottom seismographs are being considered for the planned PEP 11 seismic programme, with an application made to Geoscience Australia. Bounty holds 15%. This is a possible survey technique only; nothing is confirmed.
16 May 2016drilling scheduled● Neutral
MEC says a roughly 200 line km seismic survey is being planned over the Baleen prospect in PEP 11 (target 2,150 m, 125 m of water), and rigs are being assessed. Any drilling needs final technical review and further fundraising or a joint venture partner. Bounty holds 15%.
14 Apr 2016drilling scheduled● Neutral
Re-release by BPH Energy of the Advent Energy notice that a vessel is contracted for the 200 line km PEP 11 Baleen seismic survey. Timing awaits approvals. Bounty holds 15%. Duplicate of the Grandbridge and MEC releases.
