Past year: ▲ 167%(0.15c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Feb 2023regulatory community update▲ GoodMajor
The PEP 11 joint venture filed proposed consent orders in the Federal Court to end the case without a trial. If granted, the March 2022 refusal of the extension is set aside and must be re-decided. PEP 11 stays in force meanwhile.
3 Feb 2023regulatory community update● Neutral
BPH Energy's release repeats the PEP 11 consent orders announcement filed with the Federal Court. It is a third-party re-release with no new information beyond Bounty's own statement.
3 Feb 2023listing compliance notice● Neutral
ASX says the suspension will be lifted once Bounty releases its PEP-11 Federal Court announcement. Administrative notice only.
2 Feb 2023listing compliance notice● Neutral
At Bounty's request, shares were suspended from quotation pending an announcement on the status of the PEP-11 Federal Court case. This follows the 31 January trading pause.
31 Jan 2023other● Neutral
ASX paused trading in Bounty shares pending a further announcement. The reason is not given in this notice. Administrative notice only.
11 Jan 2023drilling scheduled● Neutral
The four-well 2023 Naccowlah program starts with Tequila 2, a vertical appraisal well planned to 1757 m, with the rig being set up to spud within 24 hours. Bounty holds 2%. Results will generally be reported when the well finishes.
30 Nov 2022investor presentation● Neutral
AGM CEO slides repeat known plans: four to five Naccowlah wells in 2023, Surat restart, PEP 11 appeal, and Cerberus funding talks with Coastal. Eluanbrook 2 target is estimated at about 625 kbbl, of which 186 kbbl is recoverable. Bounty takes a 10% interest in Watkins North 2.
31 Oct 2022other● Neutral
Annual corporate governance statement, current at 31 October 2022. It describes board practices; it notes no written diversity policy or gender objectives, and no women on the board or in key management roles. No new business information.
31 Oct 2022admin correction● Neutral
Corporate governance checklist (Appendix 4G) lodged with the annual report. Administrative only, with no new information.
31 Oct 2022annual report● Neutral
Annual report repeats FY22 results: revenue up 29% to $1.90M, cash and current assets $3.34M, no debt. Outlook is four more Naccowlah wells, Surat production in 2023, and Cerberus drilling subject to funding talks. The PEP 11 Federal Court case continues.
30 Sept 2022annual report● Neutral
Media release on FY22 results: revenue up 29% to $1.90M, cash and current assets $3.34M with zero debt, and an operating loss of $0.36M before non-cash items. The PEP 11 Federal Court case continues; documents were due to be produced the next month.
30 Sept 2022annual report● Neutral
FY22 statutory accounts show revenue of $1.90M, up 29%, and a net loss of $2.49M, after a $1.75M write-off of oil and gas assets. Bounty will join four Naccowlah wells in early 2023, after Cooroo NW 7 in July.
23 Sept 2022director officer appointment● Neutral
Non-executive director Roy Payne resigned, citing expected overseas travel in 2022/23. He had served on the board since 2014. This follows the appointment of Sachin Saraf three days earlier.
20 Sept 2022director officer appointment● Neutral
Sachin Saraf, Bounty's CFO since 2014, is appointed an additional director. He also remains company secretary, per the later accounts. This broadens the board, which has had only a chair and two non-executives.
6 Sept 2022investor presentation● Neutral
Conference slides restate known facts: about 1.3 billion shares, $0.008 price, $11M market cap, $3M cash and assets, FY22 revenue $1.90M. FY23 revenue is targeted at about $2.4M, with four Naccowlah wells proposed for 2023 and Surat development through 2023.
23 Aug 2022regulatory community update● Neutral
BPH, PEP-11 operator's parent investor, says it is reviewing its options after media coverage of Scott Morrison's ministerial powers being used on PEP-11. The June Federal Court case alleges bias in the refusal. Bounty holds 15%; this is a third-party release.
5 July 2022drilling result▲ GoodMajor
Cooroo NW 7 reached 1854 m on 4 July after spudding 30 June, with good oil shows in the Hutton and Birkhead formations. It will be cased and suspended as a future producer. Bounty holds 2%; no flow rates are given.
29 June 2022drilling scheduled▲ Good
Bounty announces the Cooroo NW 7 appraisal well in the Naccowlah Block, with spud expected 29 June 2022, targeting 1843 m. It follows the 2019-20 five-well program, which added proven reserves. Bounty holds 2%; results come when drilling ends.
29 June 2022investor presentation● Neutral
Webinar slides repeat known points: Naccowlah revenue of $240,000 a month, oil above A$150/bbl, and plans for Alton, Eluanbrook and Downlands in the Surat Basin in 2H 2022. Alton was shut in at under 50 bopd. No new results.
28 June 2022investor presentation● Neutral
Notice of a 29 June webinar by COO Kane Marshall on Surat Basin production growth. Announcement of the event only, with no new results.
23 June 2022production update▲ Good
Bounty says Naccowlah revenue is running at $240,000 a month with oil above A$150/bbl, and it is fast-tracking 100%-owned Surat Basin production in 2022 ahead of three appraisal drills. It is exploring alternative financing and farm-in partners.
9 June 2022regulatory community update▲ GoodMajor
WA regulator approved suspension of work programs and term extensions for Cerberus permits EP 490, 491 and TP 27 through to May 2026. An identical EP 475 application is pending, with approval anticipated. Year 3 seismic work has started.
2 June 2022regulatory community update● NeutralMajor
Advent's subsidiary, as PEP 11 operator for the joint venture including Bounty (15%), applied to the Federal Court to review the refusal to vary and extend the permit. This follows the March NOPTA refusal; the outcome is open.
7 Apr 2022farm in farm out agreement▲ GoodMajor
Bounty exercised its option to lift its Cerberus farm-in from 25% to 50%. Coastal issued a letter of intent for the Valaris JU-107 jackup rig for two firm and one contingent well. Bounty says no material cash calls are expected short term.
31 Mar 2022investor presentation● Neutral
Conference presentation repeating known points: 1.3 billion shares, $0.012 price, $16.4M market cap, 2021 petroleum revenue $1.59M. Cooroo Northwest well is slated for the second half of 2022; Alton restart plans are restated.
30 Mar 2022regulatory community update▼ Bad
BPH Energy repeats the NOPTA refusal of the PEP 11 variation and extension, with the joint venture taking legal advice on a statutory review. Duplicates Bounty's own announcement.
30 Mar 2022regulatory community update▼ BadMajor
NOPTA formally refused the PEP 11 work-program variation and 24-month term extension, confirming the December 2021 government signal. The joint venture (Bounty 15%) can seek review and is taking legal advice; Bounty says it has already pivoted to Cerberus.
29 Mar 2022investor presentation● Neutral
Notice that COO Kane Marshall will present at the NWR Near Term Producers Conference on 30 March 2022. Announcement of an event only, with no new information.
23 Mar 2022drilling result▲ Good
Carnarvon's Pavo-1 oil discovery in the Bedout Sub-basin is said to upgrade analogous Stork and Amos targets at Cerberus. Santos plans Yoorn-1 on Cerberus's northern border in Q4 2022. This is another company's discovery, not Bounty's; its resources are under review.
16 Mar 2022half year report● Neutral
Half-year to 31 Dec 2021: revenue $816k (up 17% on prior half), net loss $493k versus $594k a year earlier. PEP 11 flagged as material uncertainty; two further Naccowlah wells planned for 2022.
