Past year: ▲ 167%(0.15c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
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.
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.
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.
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.
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.
8 Mar 2022drilling scheduled▲ GoodMajor
Cerberus drilling program set at two firm wells (a Stork/Amos target and new Belfon) plus contingent Expanse; rig tender issued, indicative timing Q4 2022 subject to approvals. Preliminary seismic analysis is said to lower risk; updated resource estimates promised by end-March work.
15 Oct 2021farm in farm out agreement▲ GoodMajor
Bounty farms into four Carnarvon Basin permits (Cerberus) to earn 25% by funding $6M of three exploration wells, with six-month options on two further 25% tranches ($9M and $12M). It also raised $2.74M by placement; Kane Marshall joins as COO. Resolves the October suspension.
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%.
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%.
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%.
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%.
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%.
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%.
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%.
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%.
