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Bounty Oil & Gas NL (ASX:BUY) Utopia 11H - Successful Oil Development Well

Utopia 11H – Successful Oil Development Well
 
Bounty Oil & Gas NL (“Bounty”) is pleased to announce that the Utopia 11H development well at Utopia Oil Field has reached its final depth of 1264 m MDRT (1017.2 m TVD) having successfully drilled a 176.5m horizontal drainhole in the Murta reservoir. The well continued to encounter excellent oil shows in very good quality reservoir sands throughout the horizontal leg. The well has been cased and completed as a Murta oil producer. It is anticipated that the well will be placed on production before 30 June 2011.

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