Past year: ▲ 167%(0.15c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Nov 2019investor presentation● Neutral
AGM CEO presentation repeats known 2018/19 results: revenue up 130% to $3.66M, 39,792 bbl gross production and a 13-well Naccowlah program with 79% success. It says a 2020 program of up to 11 wells is planned. No new results.
31 Oct 2019quarterly activities report● Neutral
September 2019 quarter oil revenue was $1.11M from Bounty's 2% Naccowlah share, with production averaging 97 bopd. Cash was $1.23M with nil debt. Four wells await connection; Alton oil production is now expected in 2020, and PEP 11's operator plans a 2020 well instead of a 3D survey.
30 Oct 2019annual report▲ Good
The 2019 annual report repeats the known results: record $3.66M revenue, 11 wells drilled with 8 cased, and cash of $1.47M with nil debt. It adds that up to 9 more Naccowlah wells are proposed and the PEP 11 operator plans a well in 2020 or 2021.
30 Oct 2019other● Neutral
Appendix 4G governance checklist lodged with the annual report, referencing the corporate governance statement on the company website. Administrative filing with no new substance.
30 Oct 2019other● Neutral
Corporate governance statement current at 29 October 2019. It notes no separate diversity policy and no women on the board or in key management roles. Administrative disclosure with no new business information.
22 Oct 2019agm notice● Neutral
Bounty will hold its 2019 annual general meeting in Sydney on 28 November 2019. Administrative notice only.
1 Oct 2019annual report● Neutral
Media release on the full-year results: record revenue up 130% to $3.66M, operating profit $1.11M before non-cash items, net loss $2.78M. Cash and current assets were $1.47M (down from $2.48M) with nil debt. Three more Naccowlah wells are planned.
30 Sept 2019annual report● Neutral
Full-year accounts to 30 June 2019: record petroleum revenue of $3.66M and a net loss of $2.78M after a $3.16M non-cash impairment. Bounty's participation in 11 wells is listed, 8 cased for production. Tennaperra 9 is noted as a further discovery.
18 Sept 2019joint venture update▼ BadMajor
BPH Energy says the PEP 11 operator Advent (via Asset Energy, 85%) ended the RL Energy joint venture agreement by mutual consent. This removes the partner for the planned 3D survey; the JV is now reviewing its work program and a possible Baleen well. Bounty holds 15%.
6 Sept 2019drilling result▲ Good
Tennaperra 9, drilled to 1,819 m, found net oil pay in the Birkhead Formation and is cased and suspended as a potential producer. It tested an eastern extension into the Pinaroo PCA area. Bounty holds 2%.
30 July 2019quarterly activities report▲ Good
June 2019 quarter oil revenue was $1.17M, with a record $3.55M in receipts for the financial year and production at 129 bopd by quarter end. Watkins 4 and 5 came online in late May; two Jarrar wells are proposed next.
17 July 2019regulatory community update▲ GoodMajor
Queensland has renewed Petroleum Lease 441 Downlands, which Bounty owns 100%. This resolves the renewal thread; Bounty plans to flow-test Downlands 2, negotiate pipeline access and a gas sales agreement, aiming to restart gas production.
4 June 2019drilling result▲ Good
Watson North 3 (16 May) and Watson North 2 (25 May) both found good oil shows in the Westbourne Formation, with 7.6 m net pay logged at Watson North 3. Both are cased and suspended as potential producers. Bounty holds 2%.
26 Apr 2019quarterly activities report▲ Good
March 2019 quarter oil revenue was $927,500 for Bounty's 2% Naccowlah share, with production of 10,839 bbl and 121 bopd average. Watkins 4 and 5 are expected to add output once online; Watkins 6 was plugged.
15 Mar 2019half year report▼ Bad
Half-year to 31 Dec 2018: petroleum revenue $1.45M on 13,800 bbl sold, net loss $3.16M after non-cash impairments of $2.77M (Tanzania) and $0.41M (relinquished permits). This makes the Kiliwani/Nyuni exit a cost; the loss widened from $0.92M a year earlier.
13 Mar 2019drilling scheduled● Neutral
The first three 2019 wells are done: Watkins 4 and 5 were very good and extended the Birkhead zones, while Watkins 6 was plugged. Two Watson North appraisal wells follow, starting with Watson North 2 around 21 March 2019.
7 Mar 2019drilling result▲ Good
Watkins 5 reached 1,713 m, finding a 13 m gross Birkhead interval with good oil shows. It is cased and suspended as a potential producer and the rig is released. Bounty holds 2%.
4 Mar 2019drilling spud● Neutral
Watkins 5, the third well in the 2019 five-well appraisal programme, has spudded. Planned depth is 1,811 m. Bounty holds 2%.
26 Feb 2019drilling result▼ Bad
Watkins 6 reached 1,713 m, testing the southern limit of the Watkins field, and found reasonable oil shows in several Westbourne and Birkhead sands. It was plugged and abandoned after logging, and the rig moved to Watkins 5. Bounty holds 2%.
20 Feb 2019drilling spud● Neutral
Watkins 6, the second well in the 2019 five-well appraisal programme, spudded 20 February with planned depth 1,706 m. Bounty holds 2%.
19 Feb 2019drilling result▲ Good
Watkins 4 reached 1,740 m, finding a 12 m gross interval in the Birkhead reservoir with good oil shows. It is cased and suspended as a potential producer. Rig moves to Watkins 6. Bounty holds 2%.
13 Feb 2019drilling spud● Neutral
Watkins 4 spudded 11 February 2019, the first of a five-well appraisal programme at Watkins and Watson North. Planned depth is 1,740 m. Bounty holds 2%.
12 Feb 2019joint venture update▲ GoodMajor
Bounty and Asset Energy say they have mutually resolved the outstanding 2018 seismic survey matters. Bounty keeps its 15% of PEP 11, with Asset Energy at 85% as operator. A work-commitment variation has been sought for a roughly $4M, 500 sq km 3D survey.
31 Jan 2019quarterly activities report▲ Good
December 2018 quarter oil revenue was $923,960 for Bounty's 2% Naccowlah share, with production averaging 100 bopd. Four newly drilled wells are being brought online. Bounty expects Naccowlah revenue of $2.8M for the full year and five more appraisal wells in early 2019.
10 Dec 2018drilling result▲ GoodMajor
Wallis 1 found oil in the Adori, Birkhead and Birkhead/Hutton zones at 1,913 m and is cased and suspended as a potential producer. It was the last well of the 2018 Naccowlah campaign and the rig is released. Bounty holds 2%.
3 Dec 2018drilling spud● Neutral
Wallis 1, a near-field exploration well 6.3 km southwest of Jarrar, spudded 2 December with planned depth 1,931 m, targeting the Birkhead and Poolowanna zones. Bounty holds 2%.
30 Nov 2018drilling result▼ Bad
Wenda 1 reached 1,960 m with reasonable oil shows in the Westbourne and Birkhead zones and is being plugged and abandoned. It is the second near-field exploration well in a row not completed. Rig moves to Wallis 1. Bounty holds 2%.
27 Nov 2018investor presentation▲ Good
AGM presentation repeats known facts: 2019 oil revenue expected to reach $2.6M, 13 to 14 Naccowlah wells in the programme, Downlands gas renewal said to be imminent, and a target of over 1 million barrels in the Surat Basin. No new announcements are evident in the readable text.
27 Nov 2018agm notice● Neutral
All resolutions at the 27 November 2018 AGM passed on the voices. Proxy votes were 131.7M for and 38.9M against on resolution 1, and 217.4M for and 26.6M against on resolution 2. The resolution subjects are not stated.
27 Nov 2018other▲ Good
At the 2018 AGM the chairman said five of six wells in the 13-well Naccowlah programme so far were cased as future producers. He cited an oil price of about A$90 a barrel, and said drilling continues into the new year.
