Bounty Oil & Gas Nl · ASX:BUY
Bounty Oil & Gas Nl — Shareholder Meeting (November 2023)
15 slides from Bounty Oil & Gas Nl's shareholder meeting presentation, Nov 29, 2023
Slide 1: Bounty Oil and Gas NL Annual General Meeting CEO Presentation
Bounty Oil and Gas NL Annual General Meeting November 29, 2023 CEO Presentation Watkins North 2 Naccowlah Block ASX Code: BUY Philip Kelso - CEO
Slide 2: Disclaimer/Forward Looking Statements
Disclaimer/Forward Looking Statements This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a range of variables wh
Slide 3: BUY Corporate Snapshot
BUY Corporate Snapshot ASX Code BUY As at 20 November 2023 Price Range YTD $0.006 to $0.016 ASX Quoted Ord Shares 1.37 billion Gross FY Oil Revenue $1.77 million ASX Closing Price $0.007 Market Capitalisation $9.7 million $1.16 million Cash and Current Assets 30 Sept 2023 3
Slide 4: 2023 Annual Highlights
2023 Annual Highlights Cooper Basin • Drilled 3 Wells: Two successes one P&A • Watkins North 2 online at ~207 bopd BUY has 10% • Increased production and revenue by 90% month on month Surat – PL 2 and PL 46 • Acquired PL 46 Fairymount • Identified around 455,000 bbls oil potentially recoverable with
Slide 5: BUY Oil Production Expansion – Way Ahead
BUY Oil Production Expansion – Way Ahead Bounty now has a portfolio of drilling projects, which will be its focus over the next years: Naccowlah – JV BUY 2%;10% Watkins North 2 discovery • At least 10 NFE, Appraisal and Development targets PL 2 Alton – BUY operator 81.75 – 100% WI • Alton 1 and 3 Pr
Slide 6: Naccowlah SW Queensland – 2023 Drilling Campaign
Naccowlah SW Queensland – 2023 Drilling Campaign – BUY 2%;10% Watkins North 1 • Low to Prognosis • ~3 m pay • Online Oct 2023 • Qi 5 bopd Watkins North 2 BUY 10% • Some parties non-consent • BUY elected to drill at 10% • 7.6 m pay • Online Oct 2023 • Qi ~200 bopd Walter 1 P&A • Shows only, no free o
Slide 7: BUY South Surat Basin Queensland – PL 2 and PL 46
BUY South Surat Basin Queensland – PL 2 and PL 46 Building land position in proven oil reserves/resources in Southern Surat Basin Bounty has: • Completed study at Eluanbrook, Alton and Fairymount Oil Fields • Completely reworked all the data incorporating newly digitised records • Re-interpreted the
Slide 8: Eluanbrook – BUY 81.75% WI
Eluanbrook 2 – BUY 81.75% WI Eluanbrook 1 perforations straddle A and B Sands and the OWC which lies between them. A Sand marginal reservoir and HC charged, B Sand good reservoir but water wet, on production the well watered out rapidly Eluanbrook 2 Appraisal Well is to be drilled crestally and is A
Slide 9: Alton Oil Field Production – BUY 100% WI
Alton Oil Field Production – BUY 100% WI Alton 1 • Produced 278,000 bbls to date, decline analysis suggests 30,000 bbls remaining Alton 3 • Produced 845,000 bbls to date, decline analysis suggests 18,000 bbls remaining • Highest well in the Field 9
Slide 10: Alton Attics and Alton 11 (prop)
Alton Attics and Alton 11 (prop) Eastern Attic • A and B Sands (Upper Sands) attic limit top of perforations in Alton1 and by shale out to the north and south-west. Depending on how the reservoir behaves target in the range of 42 – 145 Mbo • D Sand (Lower Sands) limited by closing contour above wate
Slide 11: Fairymount Oil Field – BUY 100% WI
Fairymount Oil Field – BUY 100% WI Northern Lobe • Remaining oil behind perforations 16 – 60 Mbo • Fairymount 4 has reserves of ~10 Mbo from decline analysis, Southern Lobe • Remaining oil behind perforations 27 – 94 Mbo • Fairymount 3 and 8 have reserves from decline analysis of 48 Mbo Totals: 33 –
Slide 12: Fairymount Southern Lobe
Fairymount Southern Lobe The Southern Lobe has a target with total oil volumes of 53 – 198 Mbo comprising: • 26 – 94 Mbo potentially recoverable from existing wells, and • The remainder as oil above perforations requiring a new well, the way forward is being evaluated 12
Slide 13: PEP 11 – Drilling SeaBlue 1 BUY 15%
PEP 11 – Drilling SeaBlue 1 BUY 15% Federal Court orders NOPTA and Joint Authority to re-determine JV applications according to enable Seablue 1 to be drilled, it has now been referred back to NOPTA The formal decision is anticipated shortly The Joint venture continues to make preparations for 2024
Slide 14: BUY 2024
BUY 2024 Growth • East Australia gas supplies reaching critical deficits • PEP 11 decision awaited, major impact with potential for 2024 drill of multi TCF targets subject to permit/rig availability • Continue to evaluate significant growth opportunities as oil may lift to US$150/ bbl and major comp
Slide 15: ASX Listing Rules – Chapter 5 Reserves and Resources
ASX Listing Rules – Chapter 5 Reserves and Resources ASX LISTING RULES 5.25 – 5.45 • All Bounty Oil & Gas NL (Bounty) petroleum Reserves and Resources assessments follow guidelines set forth by the Society of Petroleum Engineers – Petroleum Resource Management System (SPE-PRMS). Bounty is compliant
Bounty Oil & Gas NL — Shareholder Meeting (November 2023) on 6ix