Past year: ▲ 167%(0.15c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Sept 2023annual report▼ Bad
FY23 statutory accounts show revenue of $1.77M, down 7%, and a net loss of $2.91M, including a $2.12M asset write-off. Bounty's 2% share of Naccowlah 2P reserves is 69,000 bbl. Cash and current assets are not stated in the excerpt provided.
29 Sept 2023annual report● Neutral
Re-release of the 29 September full-year media release with the same figures and no new information.
7 Sept 2023drilling result▲ GoodMajor
The campaign closed with Watkins North 1 (2%) and 2 (10%) cased for production, and Walter 1 (2%) plugged and abandoned after weak oil shows. Bounty expects the two Watkins North wells to add over A$1M a year to revenue once tied in.
1 Sept 2023regulatory community update● Neutral
BPH's release says additional information has gone to NOPTA on the PEP 11 extension and variation applications. The operator is still seeking a rig for Seablue-1, with drilling possible in the first half of 2024. PEP 11 stays in force and no decision has been made.
28 Aug 2023drilling spud● Neutral
Walter 1, the third well of the Naccowlah program, has spudded and was at 612 m. It targets the Birkhead and Hutton formations about 2 km west of the Watson South Field. Results are due at the end of the well.
25 Aug 2023drilling result▲ GoodMajor
Watkins North 2 (Bounty 10%) found good oil shows with 7.6 m of net pay in the Birkhead sands, and was cased and suspended as a future producer. Bounty also joins Walter 1, a further exploration well, with the rig moving there.
18 Aug 2023drilling spud● Neutral
Watkins North 2, in which Bounty holds 10%, has spudded after the Watkins North 1 success, with a planned depth of about 1,858 m. Results are expected around 25 August.
15 Aug 2023drilling result▲ GoodMajor
Watkins North 1 reached 1,711.6 m and found fair to good oil shows and porosity in the Birkhead Formation. It will be cased and suspended as a future oil producer. This is the first success of the 2023 Naccowlah campaign, following the Tequila 2 failure in January.
11 Aug 2023drilling progress report● Neutral
Watkins North 1 had set surface casing at 621.5 m and was preparing to drill to about 1,712 m. No result yet.
9 Aug 2023drilling spud● Neutral
Watkins North 1 in the Naccowlah Block spudded on 9 August 2023 after four days of rig maintenance. At 6am it was drilling surface hole at 55 m, with results due at the end of the well.
4 Aug 2023drilling scheduled● Neutral
Santos's rig is on location and Watkins North 1 in the Naccowlah Block is due to spud around 6 August, to about 1,840 m, taking roughly 8 days. This is the first of the three wells flagged in the quarterly reports.
31 July 2023quarterly activities report● Neutral
June quarter oil revenue was $319k, giving $1.77M (unaudited) for FY23; cash and current assets $1.40M, nil debt. Two Naccowlah wells start in August (Bounty 10% in Watkins North 2). Extra PEP 11 material, including a drill commitment, went to NOPTA.
21 July 2023regulatory community update● Neutral
A newly declared Hunter offshore wind area is said not to materially affect the PEP 11 title or main targets. The extension applications are still being considered by NOPTA, and the operator is looking for a rig for the 35-day Seablue-1 well, possibly in the first half of 2024.
28 Apr 2023quarterly activities report● Neutral
March quarter revenue was $340k at A$133/bbl, giving $1.45M for nine months; cash and current assets $2.20M, nil debt. Bounty will join three Naccowlah wells from June 2023, with 10% in Watkins North 2. Alton restart is still being prepared.
16 Mar 2023half year report● Neutral
Half-year to December 2022: revenue $1.106M, up from $816k, and net loss $198k, narrower than $493k a year earlier. Bounty says NOPTA is reconsidering PEP 11 with a decision expected within three months. Cerberus awaits operator funding progress.
14 Feb 2023other● Neutral
ASX paused trading in Bounty shares pending the PEP 11 judgment announcement. Administrative notice only.
14 Feb 2023regulatory community update▲ GoodMajor
The Federal Court quashed the March 2022 refusal of the PEP 11 extension, finding apprehended bias by then Prime Minister Scott Morrison. The application goes back to the Joint Authority for fresh decision. This resolves the court case; the extension itself is still undecided.
13 Feb 2023regulatory community update● Neutral
Notice that the Federal Court will hand down judgment in the PEP 11 case on 14 February. Bounty will request a trading halt beforehand. Procedural notice only.
7 Feb 2023regulatory community update● Neutral
The judge vacated earlier pre-hearing orders in the PEP 11 case. Bounty and BPH expect the court to consider the agreed settlement and decide the matter. PEP 11 stays in force meanwhile.
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.
30 Jan 2023quarterly activities report● Neutral
December quarter revenue was $490k at A$143/bbl, giving $1.106M for the half year; cash and current assets $2.50M, nil debt. Tequila 2 was drilled and plugged after moderate to weak oil shows, the first of four 2023 wells. Alton work continues.
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.
1 Dec 2022agm notice● Neutral
All three AGM resolutions passed on the voices at the 30 November 2022 meeting, with proxy votes in favour well ahead of those against. Administrative result only.
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 2022quarterly activities report● Neutral
September quarter revenue was $616k at A$159/bbl, with cash and current assets of $2.55M and nil debt. Bounty took an extra 8% in the Watkins North 2 well, part of four 2023 wells. Alton production slipped to 2023; Cerberus drilling funding talks continue.
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.
