Australian gas & oil exploration company Bounty Oil & Gas NL has commenced its two-well oil exploration/appraisal program in the Naccowlah Block, Southwest Queensland, with Watkins North 1.
Watkins North 1 is a wildcat/ near field exploration well with a planned total depth of nearly 1840m measured depth below rig rotary table (MDRT). The well is designed to examine the Poolowanna/ Hutton/ Birkhead formations.
After completing the routine rig maintenance in four days, the well was spudded on 9 August. Santos Ltd. is the operator.
BUY will announce the results at the conclusion of the well. After the Watkins North 1 well is completed, the rig will be moved to drill Watkins North 2 well.
Bounty shares traded at AU$0.007 apiece at the time of writing on 9 August 2023.
Read the latest issue of the OGV Energy magazine HERE