Past year: ▲ 167%(0.15c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
10 Aug 2020investor presentation● Neutral
BPH released a technical presentation supporting a revised Baleen drill target in PEP 11, with total depth of 2,150 m and a possible gas anomaly of about 24 km2. It describes risks and does not report new drilling or approvals. Bounty holds 15%.
31 July 2020quarterly activities report● Neutral
June 2020 quarter oil revenue was $341,226; full-year FY20 revenue was about $2.9M, below the roughly $3.0M guided. Cash was $1.55M with nil debt. Jarrar wells and others came online; four wells await connection. Further drilling is likely deferred; Alton production is still planned.
23 July 2020capital raising announcement● Neutral
BPH Energy, which holds an indirect stake in PEP 11 operator Advent, is raising $449,813 via placement at 1.5 cents plus up to $2.42M via rights issue. About $2M is for Baleen well planning. This is BPH's raising, not Bounty's.
7 July 2020other● Neutral
Partner BPH Energy released a 1992 Ampolex study naming the Baleen South lead on PEP 11 as a major target with a possible gas/condensate source. It is historical background supporting the Baleen well plan, not new data. Bounty holds 15%.
18 June 2020regulatory community update▲ Good
NOPTA says the PEP 11 joint venture application, lodged in December 2019 to enable drilling of the Baleen prospect, has finished assessment and is in the final decision phase. No timing was given. Bounty holds 15%.
18 June 2020price query● Neutral
ASX asked Bounty to explain a price move from $0.012 to $0.017 and sharply higher volume from 15 to 18 June 2020, and whether it holds undisclosed information. The letter has questions only, not Bounty's answers.
1 May 2020drilling result● Neutral
Cooroo NW 6 (1,860 m) was plugged and abandoned, ending the five-well Cooroo NW program. For 2020 Bounty took part in 8 wells: six cased for production and two plugged. The program is said to have materially extended reserves. Bounty holds 2%.
30 Apr 2020quarterly activities report● Neutral
March 2020 quarter oil revenue was $594,000 (5,568 bbl production). Cash was $1.54M with nil debt. Six successful wells await connection; Alton Lease 2 was renewed. Further oil drilling in 2020 is likely deferred given the oil price fall, per the company.
28 Apr 2020drilling result▲ GoodMajor
Cooroo 7 (1,932 m) and Cooroo NW 5 (1,916 m) both found oil and net pay and were cased and suspended as future producers; NW 5 confirmed a material northwest extension of the field. Bounty's 2020 tally is six successful wells and one plugged. Bounty holds 2%.
6 Apr 2020drilling result● Neutral
Cooroo NW 3 reached 1,916 m with net pay in the Westbourne and Birkhead and was cased and suspended. Cooroo NW 4 found weak shows and was plugged and abandoned. Cooroo NW 7 is next. Bounty holds 2%.
19 Mar 2020drilling spud● Neutral
Bounty joins a five-well appraisal program at Cooroo NW in Naccowlah, following the Jarrar wells. Cooroo NW 4 spudded 18 March 2020; Cooroo NW 3 is due around 22 March. Bounty holds 2%.
13 Mar 2020half year report▼ BadMajor
Half-year to 31 Dec 2019: revenue $1.97M (up from $1.45M), net loss $2.86M after a $2.904M non-cash impairment on relinquishing AC/P 32 after no farm-out. Bounty expects about $3.0M sales for FY2020 and declining production.
18 Feb 2020listing compliance notice● Neutral
ASX lifted the suspension and reinstated Bounty shares to quotation after receiving a response to the price query. This resolves the suspension; the response itself is not in this text.
18 Feb 2020price query● Neutral
ASX asked Bounty to explain a share price rise from a low of $0.004 on 12 February to an intraday high of $0.011, with sharply higher volume. It asked if any undisclosed information exists. The letter contains questions only, not Bounty's answers.
17 Feb 2020listing compliance notice● Neutral
ASX paused trading in Bounty shares pending a further announcement. Procedural notice; the reason follows in a price query.
17 Feb 2020price query● Neutral
ASX suspended Bounty shares from quotation pending a response to a price and volume query. Procedural step following the trading pause.
12 Feb 2020drilling result▲ Good
Jarrar 8 reached 1,914 m with very good oil shows and logged net pay in a thick Birkhead sand, and was cased and suspended. This completes the Jarrar phase; further 2020 Naccowlah drilling awaits timing and rig availability. Bounty holds 2%.
6 Feb 2020drilling spud● Neutral
Jarrar 8 spudded 4 February 2020 and is in progress. It is a deviated appraisal well planned to 1,896 m to test the Birkhead zone. Bounty holds 2%.
4 Feb 2020drilling result▲ Good
Jarrar 7 reached 1,971 m with very good Birkhead oil shows and logged net pay, plus shows in the Mackunda Formation. It was cased and suspended as a potential producer. Bounty holds 2%.
30 Jan 2020drilling spud● Neutral
Jarrar 7 spudded 24 January 2020 and is in progress. It is a deviated appraisal well planned to 1,977 m to test the Birkhead oil zone. Bounty holds 2%.
30 Jan 2020quarterly activities report● Neutral
December 2019 quarter oil revenue was $0.86M, down from $1.11M, with production averaging 79 bopd (97 bopd prior quarter). Cash was $1.7M with nil debt. Four wells still await connection; Alton production is targeted for 2020.
29 Jan 2020drilling result▲ Good
Jarrar 6 reached 1,890 m, found good Birkhead oil shows with logged net oil pay, and was cased and suspended as a potential producer. This is a successful start to the 2020 Naccowlah program. Bounty holds 2%.
28 Jan 2020joint venture update● Neutral
BPH reports the PEP 11 joint venture has applied to NOPTA to drill the Baleen target, extend the permit up to two years from March 2021 expiry and drop the 500 sq km 3D seismic requirement. Drilling is subject to approvals and financing. Bounty holds 15%.
20 Jan 2020other● Neutral
Share registry changed from Security Transfer Australia to Automic Group from 20 January 2020. Administrative notice only.
16 Jan 2020drilling spud● Neutral
Jarrar 6 spudded 16 January 2020, starting the 2020 Naccowlah appraisal program. It is a development well planned to 1,809 m to test the Birkhead oil zone. Bounty holds 2%.
29 Nov 2019agm notice● Neutral
Results of the 28 November 2019 AGM: both resolutions passed on the voices, with proxy votes heavily in favour. Administrative only.
