Past year: ▲ 167%(0.15c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 Oct 2024quarterly activities report▼ Bad
September quarter oil revenue was $309k, with net production about 20 bopd. Cash was $1.06M with nil debt. Queensland reserves are now put at 313,000 bbl, down from 360,000. Oil revenue is guided lower at $1.2M pa in early 2025, and Alton production has slipped to 2025.
30 Oct 2024annual report● Neutral
Corporate governance statement for FY24, current at 30 October 2024. It repeats that Bounty has no written diversity policy and no women on the board or in key management. Administrative disclosure with no new business information.
30 Oct 2024annual report● Neutral
Appendix 4G governance checklist for the year ended 30 June 2024, signed by the Company Secretary. Administrative filing with no new business information.
30 Oct 2024annual report● Neutral
2024 annual report repeats FY24 results: revenue $1.61M, Queensland reserves of 360,000 bbl. The Chairman says the Government has indicated it will not approve the PEP 11 extension and Bounty will pursue its rights. Cash is quoted at $1.78M in one place and $1.28M in another.
21 Oct 2024agm notice● Neutral
Bounty will hold its 2024 AGM on 27 November 2024. Director nominations close 28 October. Administrative notice only.
11 Oct 2024regulatory community update● Neutral
The deadline to respond to the Minister's preliminary PEP 11 refusal view was extended to 15 November 2024. The Federal Court case was adjourned to on or after 7 February 2025. NOPTA had recommended approving the second application.
26 Sept 2024annual report● Neutral
Media release on FY24 results: revenue $1.61M, loss narrowed to $0.93M, cash and current assets $1.78M, nil debt. Queensland producing and contingent reserves are put at 360,000 bbl. The CEO notes PEP 11 refusal view and that legal advice is being taken.
25 Sept 2024annual report● Neutral
FY24 statutory accounts: revenue $1.61M, down 9%, and an operating loss of $0.93M versus $2.91M the year before. Production was 11,805 boe from the Naccowlah Block. Bounty remains a small producer with oil revenue lower on reduced prices.
23 Sept 2024listing compliance notice● Neutral
Bounty answered an ASX query on disclosure of the Minister's PEP 11 view. It says it learned of it at 2:11pm on 18 September, sought a pause within minutes, and announced the next morning. It confirms compliance with Listing Rule 3.1. The shares traded around $0.04 to $0.03 on resumption.
19 Sept 2024regulatory community update▼ Bad
Bounty confirms the Minister's preliminary view that PEP 11 applications should be refused; it has 30 days to make submissions. It says Queensland oil operations are proceeding, with more wells expected in 2025, and Jacobson variations are being pursued.
18 Sept 2024regulatory community update▼ BadMajor
Minister Ed Husic told the PEP 11 operator he has formed a preliminary view that the extension applications should be refused. The joint venture is consulting lawyers. This is a major setback after the long wait for a decision on Bounty's 15% permit.
18 Sept 2024other● Neutral
ASX paused trading in Bounty shares pending a further announcement. No reason is given in the notice itself; it relates to the PEP 11 news that followed.
8 Aug 2024material agreement▲ GoodMajor
Operator Coastal signed a binding Heads of Agreement with a rig contractor for the renamed Jacobson (formerly Cerberus) project. It covers two firm wells and one contingent, with drilling slated for late 2025, subject to approvals, tenure and a US$250,000 booking fee. Advances the Cerberus rig thread.
6 Aug 2024regulatory community update● Neutral
The PEP 11 operator filed a Federal Court application asking that the Joint Authority be compelled to decide the extension applications within 45 days. The first application has been pending 1,656 days. This escalates the long wait for a decision; Bounty holds 15%.
31 July 2024quarterly activities report● Neutral
June quarter oil revenue was $376k, taking the 12 months to $1.61M. Cash and liquid assets were $1.57M with nil debt. Alton production is now expected late 2024 to early 2025, and the PEP 11 decision remains pending. Alton-area resources are now put at 473,000 bbl.
20 May 2024regulatory community update● Neutral
The PEP 11 operator has engaged consultant Klarite to start environmental approval work for Seablue-1 ahead of any extension decision. The release cites the new Federal Future Gas Strategy and 5.7 TCF of prospective resources. Approval and rig availability are still pending.
30 Apr 2024quarterly activities report● Neutral
March quarter revenue was $399k, with nine-month revenue of $1.236M. Cash and current assets were $1.8M with nil debt. Bounty guides to $2.0-2.5M of oil revenue in 2024, Alton 3 restart work is underway, and the PEP 11 decision is still pending.
18 Mar 2024regulatory community update● Neutral
BPH says PEP 11 holders would consider challenging the NSW seabed mining and exploration bill under the Constitution if enacted. The permit is beyond NSW waters and remains in force. The operator is still seeking a rig for Seablue-1 while the extension decision is pending.
15 Mar 2024half year report▼ Bad
Half-year to December 2023: revenue $837k, down 24% on the prior half, and a net loss of $653k versus $198k a year earlier. Capital spending was $991k. Alton restart is being prepared, and a PEP 11 decision is expected within three months.
14 Feb 2024regulatory community update● Neutral
Bounty responds to proposed NSW legislation against offshore drilling, saying PEP 11 lies beyond NSW's 3 nautical mile jurisdiction and is under Commonwealth control. The permit remains in force, and the operator is still seeking a rig for Seablue-1.
31 Jan 2024quarterly activities report▲ Good
December quarter revenue was $560k, with Watkins North 1 and 2 online lifting production 75% on the prior quarter. Cash and current assets were $1.30M with nil debt. Alton restart work continues for 2024, and the PEP 11 decision is still awaited.
12 Jan 2024capital raising announcement● NeutralMajor
Bounty raised $1.15M through a placement at 0.9 cents a share, an 18.2% discount to the last price. 128M new shares come with free attaching options at 2.5 cents expiring November 2025. Funds go to projects and working capital; this dilutes existing holders.
What it means for a shareholder
128m new shares at about A$0.009 to raise about A$1.1m. That's 8.5% dilution: every existing holder's slice gets 8.5% smaller. If you held A$1,000 of shares (111,304 at the issue price), your slice goes from 0.00812% to 0.00743% of the company. To keep it you'd need 10,395 more shares - about A$93 at the issue price.
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29 Nov 2023investor presentation● Neutral
AGM CEO presentation largely repeats known facts. Watkins North 2 is online at about 207 bopd, Watkins North 1 at about 5 bopd, and Walter 1 was dry. It lists Surat targets, noting they are not reserves, and says the PEP 11 decision is anticipated shortly. Share price was $0.007.
24 Nov 2023regulatory community update▲ Good
BPH reports a NSW parliamentary committee recommended against the bill to ban offshore drilling, citing possible constitutional problems. NOPTA shows the PEP 11 applications as 'Under Assessment', with the Joint Authority decision the next step. Bounty holds 15%; no decision yet.
31 Oct 2023annual report● Neutral
The 2023 annual report repeats FY23 revenue of $1.77M, nil debt and an operating loss of $0.44M before non-cash charges. It expects about $2.4M of gross oil revenue in 2024 as the Watkins North wells come on. PEP 11 awaits NOPTA approval. The excerpt gives cash figures that differ ($1.23M and $1.50M).
31 Oct 2023annual report● Neutral
Corporate governance statement for FY23, current at 30 October 2023. It says Bounty has no written diversity policy or measurable gender objectives, and no women on the board or in key management roles. Administrative disclosure with no new business information.
31 Oct 2023quarterly activities report● Neutral
September quarter oil revenue was $273k and cash and current assets $1.16M, nil debt. NOPTA has made a recommendation to the Joint Authority on the PEP 11 extension, and the operator is seeking a rig for Seablue-1. Bounty has taken 100% of additional reserves next to Alton.
31 Oct 2023annual report● Neutral
Appendix 4G, the checklist for the corporate governance statement, lodged for the year ended 30 June 2023 and signed by the Company Secretary. Administrative filing only, with no new business information.
16 Oct 2023agm notice● Neutral
The 2023 AGM will be held on 29 November 2023. Director nominations close on 23 October 2023. Administrative notice only.
29 Sept 2023annual report● Neutral
Media release on FY23 accounts: revenue $1.77M, cash and current assets $1.50M, nil debt, and an operating loss of $0.44M before $2.4M of non-cash charges. Management expects revenue of about $2.5M in 2024 once the Watkins North wells are tied in, with up to five drills planned.
