Quarterly Activities Report – End March 2011
Highlights:
- Record oil revenue of $1,303,565 for the 9 months ended 31 March 2011.
- Nyuni Block Tanzania:
- Rig mobilisation underway to drill Nyuni 2 in late May 2011, targeting 880 Bcf gas recoverable.
- Nyuni development licence granted for Kiliwani North gas field and full commercialisation underway.
- Utopia oilfield (PL 214): Utopia 11H a short horizontal offset vertical development well was delayed by wet weather, and is now anticipated to spud in mid May, 2011.
- Bounty achieved an after tax profit of $172,000 for the half year ended 31 December 2010.
- Bounty had $ 2.77 million cash, no debt and increased its proved producing oil reserves through completion of the Naccowlah Block acquisition.
Download this document
