Bounty Oil & Gas NL
BUY.AX
Australian Securities Exchange0.02
AUD
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Bounty Oil & Gas NL
BUY.AX
(Australian Securities Exchange)
Recent
price
0.02
P/E
ratio
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Bounty Oil & Gas NL is an independent Australian oil and gas explorer and producer, founded in 1999 and headquartered in Australia. The company engages in the exploration, development, production, and marketing of oil and gas properties primarily within Australia. Its core operations include oil production at the Naccowlah Block in southwest Queensland and exploration and development projects across key Australian basins including the Surat Basin, Carnarvon Basin, Cooper/Eromanga Basin, and Sydney Basin under the PEP 11 permit. Bounty's product portfolio consists mainly of crude oil and natural gas, with a focus on both upstream exploration and production activities. The company operates through two main segments: Core Petroleum, which encompasses oil and gas exploration, development, and production, and a Secondary segment related to investments in listed securities. Recent significant developments include Bounty becoming the operator of three Surat Basin oil projects centered on the Alton area, expecting initial production of 100 barrels of oil per day (bopd) by mid-2025, which could generate approximately AUD 2 million annually. The company has successfully completed a non-renounceable entitlement offer raising about AUD 231,000 to support oil development, exploration activities, and general working capital. In strategic cooperation, Bounty participates in the PEP 11 Joint Venture alongside BPH Energy Limited and Asset Energy for offshore gas exploration in the Sydney Basin; however, the Joint Authority has refused extension applications for PEP 11 as of January 2025, with the permit remaining valid until March 2025 while awaiting regulatory decisions. Bounty also has ongoing drilling operations to advance resource assessment and production in its key assets, including the Watkins North and Alton/Fairymount pools. The company maintains a robust balance sheet, free of debt, with increasing revenue streams from its oil sales in Queensland. It focuses on expanding oil production capacities while simultaneously exploring deeper Permian gas resources and contingent 2C oil reserves. Bounty's operations and investments span multiple basins, positioning it to capitalize on the projected recovery in oil prices in 2025. The experienced management team supports a strategic emphasis on appraising and developing onshore oil and gas opportunities with potential for growth through acquisitions and new project development in Australia. Its primary market is the Australian oil and gas sector, targeting upstream production and exploration with interests across several states. Overall, Bounty Oil & Gas NL is a focused Australian oil and gas independent with diversified exploration and production assets. Its recent strategic financing, operational advancements in Surat Basin, and participation in high-impact exploration permits highlight its growth trajectory within the domestic energy sector. The company continues to leverage partnerships and regulatory approvals to enhance its production base and resource portfolio.