ASX Code: BUY
Bounty Oil and Gas NL is a petroleum producer/explorer participating in 2009 drilling in proven oil and gas permits with Australian and International exposure. It is listed on the Australian Stock Exchange with the enviable code of "BUY".
The company has an energetic approach to oil and gas exploration and development and holds both national and international interests.
Bounty's 2010 focus includes:
Becoming a more significant producer by:
Drillling of 5 Development wells and workover one well in the Utopia Field SW QLD as the first phase of a 11 well programme designed to develop 1.7 MMbo (0.68 MMbo net to Bounty)
Commercialisation of the 17 Bcf recoverable gas pool tapped by Kiliwani North 1 well (Tanzania) and possible appraisal of a further 50 Bcf of contingent resources in the same pool with drilling.
Evaluation of the Bellbird oil field Surat Basin
Testing of three possibly four oil zones in Wakefield 1 PEL 218 Cooper/Eromanga Basins SA
Maintaining the Development Pipeline by:
Further exploration drilling in ATP 754P to test either the Mardi or Bidgel Creek oil prospects
Free carry through 2009 drilling of one well in PEP 11 offshore Sydney Basin where the partners have identified several large targets with potential for up to 2.5 Tcf gas.
Participating in further drilling in the extensive onshore Carnarvon Basin lands WA
Ongoing prospect and lead development