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Bounty Oil & Gas NL (ASX:BUY)

ALERT: Price-sensitive ASX Announcement for BUY
Current share price for BUY : $0.019 -0.006 (-24%)+
Announcement
Release
19 Jun 2026 9:09AM
Price at Release
$0.025
Full Release
download
Summary
Bounty Oil & Gas NL has announced that the Federal Court of Australia dismissed the judicial review application concerning the PEP11 Permit, in which Bounty holds a 15% interest. The decision to refuse the permit's extension and variation stands, and the company, along with its joint venture partners, is considering an appeal. PEP11, located offshore the lower Hunter Region in NSW, is seen as a potential contributor to mitigate the forecasted east coast gas supply shortfall. Bounty has assured that it will keep the market informed about further developments, including any appeal decisions, and trading in its securities will recommence post-announcement.
Key Points
  • Federal Court dismisses PEP11 judicial review brought by Asset Energy Pty Ltd.
  • PEP11 is a joint venture with Bounty Oil & Gas NL holding a 15% interest.
  • PEP11 Permit remains refused following NOPTA's decision.
  • Bounty and joint venture partners are considering an appeal.
  • PEP11 is located offshore the lower Hunter Region in NSW and is prospective for natural gas.
  • The permit is considered significant for addressing east coast gas supply shortfall.
  • Trading in Bounty's securities to resume following the announcement.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.