Bounty Oil & Gas

Bounty Oil & Gas NL (ASX:BUY) is an Australian oil and gas company focused on production, development, and exploration opportunities. The company produces oil from the Naccowlah Block in southwest Queensland with reserves of 273,000 barrels from the Naccowlah production leases as of September 2023.

The company also has development and exploration interests across other permits in Queensland. These include 100% ownership of the Alton oilfield and Fairymount oilfield in the Surat Basin, which contain undiscovered contingent resources. Bounty is working to bring shut-in wells at Alton back into production.

Additionally, Bounty Oil & Gas has exploration exposure through a 15% interest in PEP 11 offshore Sydney Basin. This permit contains the Baleen gas prospect which the joint venture hopes to drill in 2024. PEP 11 is located close to significant gas markets with no domestic gas supply.

Bounty ended September 2023 with strong oil revenues and with cash and current assets at $1.16 million. The company generates oil revenue from production in the Cooper Basin, with the potential for growth through development of Alton and exploration of PEP11.