Past year: ▲ 167%(0.15c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
9 June 2021joint venture update● Neutral
A rig tender for Baleen-1 was issued to contractors with semi-submersibles in the region. Well planned in 125 m of water, about 40 days to reach depth, subject to approvals; CCS evaluation is subject to funding. Continues the rig search.
31 May 2021joint venture update● Neutral
Advent's subsidiary Asset Energy issued a call for tender for subsea wellhead equipment for Baleen. This is preparation so drilling can start once approvals arrive; no approval or funding is announced. Bounty holds 15%.
25 May 2021contract award▲ Good
BPH says PEP 11 operator Advent appointed Xodus under a lump-sum contract to prepare the Environmental Plan for Baleen-1, for first submission to NOPSEMA. Follows Xodus's earlier screening report; approvals still needed. Bounty holds 15%.
17 May 2021regulatory community update● Neutral
BPH, citing Geoscience Australia reports, highlights seafloor pockmarks off Newcastle as likely gas-escape features supporting PEP 11 gas potential. It restates the CCS angle for Baleen. Promotional, with no new well result or permit decision.
3 May 2021admin correction● Neutral
Bounty re-lodged its March 2021 quarterly cash flow report (Appendix 5B) on the latest form; the report itself is unchanged. It shows cash of $1.575M at quarter end and nil financing facilities.
16 Apr 2021joint venture update● Neutral
BPH says the Xodus environmental review report for Baleen has been received, setting out the program needed for an environmental impact assessment. Planned well depth is 3,150 m, subject to approvals and funding. Under assessment; no approval yet.
8 Apr 2021joint venture update● NeutralMajor
PEP 11 operator received a Basis of Well Design report from Add Energy for Baleen-1. The JV now plans, subject to approvals and funding, a deeper well of about 3,150 m (previously 2,150 m) to test Permian sandstones for gas and carbon storage.
12 Mar 2021half year report● Neutral
Half-year to 31 Dec 2020: petroleum revenue $0.70M (down from $1.97M), net loss $594,000 versus $2.865M a year earlier. Output averaged 58 bopd at period end. Five more Naccowlah wells planned for 2021; PEP 11 decision anticipated within 3 months.
8 Mar 2021price query▼ BadMajor
Bounty told ASX it had no undisclosed information behind the fall from $0.035 to $0.02, after reports that the Prime Minister does not support PEP 11. It says NOPTA is the decision maker and no decision has been advised.
4 Mar 2021other● Neutral
ASX again paused trading in Bounty securities pending a further announcement. The notice gives no reason; the follow-up query links it to the Prime Minister's comments on PEP 11.
1 Mar 2021joint venture update● Neutral
Per BPH, Add Energy has commissioned consultancy Xodus to do a preliminary environmental screening for the Baleen well in PEP 11, building on the 2018 seismic environmental plan. This is early preparation work only; Bounty holds 15%.
18 Feb 2021price query▼ BadMajor
Bounty told ASX it knew of no undisclosed information behind the price move from $0.029 to $0.047. ASX cited the NSW Deputy Premier's statement recommending PEP 11 not be renewed. Bounty added nothing further. This is a setback for the 15% PEP 11 stake.
17 Feb 2021other● Neutral
ASX paused trading in Bounty securities pending a further announcement. The reason is not given in this notice; the follow-up price query shows it came after NSW Government comments on PEP 11.
11 Feb 2021regulatory community update● Neutral
The PEP 11 joint venture says it has had no word from NOPTA on its extension applications and has sought clarification, after NSW Deputy Premier comments reported in the press. It says it is securing a rig for Baleen. Outcome remains open.
5 Feb 2021regulatory community update● Neutral
Bounty restates that the PEP 11 joint venture's application for a 24-month suspension of Year 4 work commitments and matching 24-month permit extension was accepted for processing by NOPTA on 4 February 2021, citing COVID-19. Bounty holds 15%. No decision yet; repeats the 5 Feb BPH news.
5 Feb 2021regulatory community update● Neutral
BPH says the PEP 11 joint venture lodged a new application for a 24-month suspension of Permit Year 4 work commitments with matching 24-month extension, citing COVID-19. NOPTA accepted it for processing on 4 February 2021. Bounty holds 15%.
5 Feb 2021regulatory community update● Neutral
MEC Resources, an investor in PEP 11 operator Advent, repeats that the COVID-19 extension application was accepted by NOPTA on 4 February 2021. It restates Bounty's 15% direct interest. No new information for Bounty shareholders.
27 Jan 2021price query● Neutral
Bounty replied to ASX over a price rise from $0.020 to $0.028 with high volume, saying it knew of no undisclosed information. It pointed to the PEP 11 application being with the Joint Authority, the Add Energy agreement and media coverage of carbon capture funding.
13 Jan 2021joint venture update● Neutral
BPH says PEP 11 operator Advent signed a preliminary agreement with Add Energy to review rig availability and scope for the Baleen well. The NOPTA application is still in the final decision phase. Bounty holds 15%.
27 Nov 2020investor presentation● Neutral
AGM presentation repeating known points: 2020 revenue $2.91M, 27,286 bbl production, 9-well Naccowlah program, 5 wells planned for 2021, and a Surat Basin goal of 1 million barrels. PEP 11 extension is still awaited.
2 Nov 2020annual report● Neutral
2020 Annual Report: revenue $2.91M, operating profit $0.43M before non-cash items, cash $1.47M, nil debt. Management plans 5 more Naccowlah wells in 2021 and expects PEP 11 permit extension shortly to drill Baleen in 2021, though no approval is reported. AGM set for 27 November 2020.
2 Nov 2020other● Neutral
Annual corporate governance statement, current at 30 October 2020. It sets out board practices and notes no measurable gender diversity objectives. No new operational or financial information.
2 Nov 2020admin correction● Neutral
Appendix 4G, the standard checklist pointing to Bounty's corporate governance statement for FY2020. Administrative filing with no new substance.
30 Sept 2020annual report▼ Bad
FY2020 accounts: revenue fell 21% to $2.91M (2019: $3.6M) on lower oil prices and output, and the net loss was $3.1M including a $2.90M impairment. Of nine Naccowlah wells drilled, seven were cased for production and two were plugged and abandoned, and Bounty expects 2P reserves to rise in 2020.
30 Sept 2020annual report● Neutral
Media release on FY2020 results: revenue down 21% to $2.91M, net loss $3.1M, cash and current assets $1.47M, nil debt. CEO cites a $1.42M capital raise and plans to seek another offshore gas project alongside PEP 11, and at least 5 more Naccowlah wells in 2021.
21 Sept 2020listing compliance notice● Neutral
ASX paused trading in Bounty shares pending a further announcement. This is a procedural notice; no reason is given in the text.
8 Sept 2020other● Neutral
BPH, for Advent, proposes using the Baleen well to investigate carbon capture and storage as a secondary objective, citing published estimates of at least 2 TCF of CO2 storage in the offshore Sydney Basin. This is a proposal only, with no approval or funding stated. Bounty holds 15%.
4 Sept 2020price query● Neutral
ASX queried a move from $0.015 to $0.023 with high volume on 3 September 2020. Bounty replied it knew of no undisclosed information, noting NOPTA's website shows the PEP 11 suspension, variation and extension application is now with the Joint Authority for decision.
14 Aug 2020other● Neutral
BPH released a 2010 seabed geochemical review saying the area around the proposed Baleen drill site looks best for hydrocarbon influence. It is supporting data for the planned well, not a new result. Bounty holds 15% of PEP 11.
11 Aug 2020other● Neutral
MEC Resources, which holds 49.4% of Advent, the PEP 11 operator, only points to BPH's 10 August PEP 11 update. It carries no new information.
