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BOUNTY OIL & GAS NL

ASX: BUY

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Description

Bounty Oil and Gas NL is a petroleum producer/explorer participating in development, near field and high impact exploration drilling in 2010. Bounty has a quality portfolio of petroleum acreage with 2P oil reserves of 1.2 million bbls at Utopia, Queensland and contingent resources of 4 million bbl of oil equivalent spread across proven oil and gas permits in Australia and Tanzania.

EP 359, EP412 & EP435 ONSHORE CARNARVON BASIN, WESTERN AUSTRALIA

Location: Exmouth, Western Australia
Basin: Carnarvon Onshore
Area: EP 359 - 557 sq. km., EP 435 237 sq. km., EP 412 944 sq. km.
Interest: EP 359, EP 435 and PL L16 10%; EP.412 65%
Operator: EP 359 EP 435 and PL L16 Rough Range Oil Pty Limited (subsidiary of Empire Oil & Gas N.L. [EGO]) EP 412 Bounty
Resource Estimates: Oil prospects have potential in the 2-5 MMbo range gas targets have potential of 50 bcf.

PEP 11 OFFSHORE SYDNEY BASIN, NEW SOUTH WALES

Location: Offshore from Newcastle, Sydney, NSW
Basin: Sydney Basin - Offshore
Area: 8,200 sq km
Interest: Bounty 15%, MEC Resources Ltd (through Advent Energy Pty Ltd.) 85%
Operator: Bounty Oil & Gas NL; MEC Resources Limited is the operator's agent
Resource Estimates: Individual exploration targets within the 0.2 - 2.5 Tcf Range with total upside of as much as 4 Tcf

AC/P 32 OFFSHORE VULCAN SUB-BASIN, TIMOR SEA

Basin: Vulcan Sub Basin
Area: 504 sq km
Interest: 15%
Operator: PTTEP Australia
Resource Estimates: Targets in excess of 100 MMbo remain untested

NYUNI BLOCK, OFFSHORE TANZANIA

Basin: Mandawa Basin
Area: 2692 sq km
Interest: 5%.
Operator: Ndovu Resources Limited ( Aminex PLC)
Resource Estimates: Kiliwani North Contingent Resources 40 Bcf gas (Pmean). Exploration leads total an additional 2 Tcf Prospective Resources

PEL 218, ONSHORE COOPER/EROMANGA BASINS, SOUTH AUSTRALIA

Basin: Cooper/Eromanga Basins Onshore
Area: 1,603 sq km
Interest: Bounty 23.28%
Operator: Beach Petroleum Limited
Resource Estimates: Leads and prospects ranging from 2 14 MMbo recoverableIt is anticipated that 2010 will see a testing programme on the well and further drilling.

ATP 740P, PL 71 & PL 119, ONSHORE SURAT BASIN, QUEENSLAND

Basin: Bowen and Surat Basins
Area: ATP 470P 253.4 sq km, ATP 471P (SG) 15 sq km, PL 71 134.3 sq km, PL 119 21.4 sq km
Interests: ATP 470P 51.781%, PL 71 - 20% (in new wells only), ATP 471P (SG) and PL 119 - 24.748%
Operator: ATP 470P and PL 71 - Origin Energy; ATP 471P (SG) and PL 119 - Mosaic Oil
Resource Estimates: PL 119 Downlands 2P reserves 0.53 Bcf; ATP 461P Spring Grove oilfield possible 2 MMbo recoverable in a tight reservoir

ATP 754P & ATP 552P, ONSHORE SURAT BASIN, QUEENSLAND

Location: Surrounding Alton and Fairymount Oilfields Queensland
Basin: Bowen and Surat Basins
Area: ATP 754P 2719.0 sq km, ATP 552P 124.4 sq km (under renewal)
Interest: ATP 754P 50%, ATP 552P 33.33%
Operator: ATP 754P - Origin Energy Ltd; ATP 552P - Bounty Oil and Gas
Resource Estimates: ATP 552P Bellbird Field Contingent Resources of up to 2 MMbo, ATP 754P Bidgel Creek Stratigraphic Prospect 1.2 MMbbls Pmean Prospective Recoverable Resources and Mardi Prospect 350,000 bbls Pmean Prospective Recoverable Resources

Utopia Block, PL 214 and ATP 560P, Queensland - Eromanga Basin

Location: 30 km south/east of Tarbat/Ipundu Oilfiled and 45km south/east of Eromanga, SW Queensland.
Basin: Cooper / Eromanga
Area: 305 sq km
Interest: 40% in PL 214 and associated production facilities
Operator: Oil Wells Inc. of Kentucky a subsidiary of Bidgeport Energy Limited
Resource/ Reserve Estimates: 3 million bbls (at P50) of oil in Murta Zone (Bounty: 1.2 million bbls)

Mine For

oil, gas

Location of operation(s)

Queensland, New South Wales, Western Australia, Tanzania

Australian Basins

Carnarvon, Sydney, Surat

Address

Level 7, 283 George Street
SYDNEY, NSW, AUSTRALIA

Phone

02 9247 4777

Email

Website


Last Updated

19/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.