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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 (0%)+
Announcement
Release
31 Jul 2026 10:04AM
Price at Release
$0.019
Full Release
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Summary
Bounty Oil & Gas NL reported on their quarterly activities, highlighting significant financial maneuvers and operational updates for the period ending June 2026. The company generated unaudited petroleum revenues of $865,000 for the financial year, marking a 20% decrease compared to the previous year due to lower production. They implemented a 1 for 30 share consolidation and capital recapitalization, raising $4 million through a Tranche 1 Share Placement. Convertible and loan notes amounting to $299,000 were redeemed into equity shares. The operations focused on exploring further production opportunities in Queensland, particularly in the Naccowlah Block and Southern Surat Basin. Several new drilling activities are planned for the next quarter to bolster production and reserves. Bounty also reported a steady cash position, with strategic plans for future productions and compliance with financial and environmental standards.
Key Points
  • Petroleum revenues for the financial year ended 30 June 2026 were $865,000.
  • A 1 for 30 consolidation of share capital was completed.
  • A $4 million Tranche 1 Share Placement was executed.
  • Convertible and loan notes totaling $299,000 were converted into equity shares.
  • Operations continued in Queensland to explore new production opportunities.
  • Revenue from Naccowlah Block decreased by 20% year-over-year.
  • Bounty is planning new drilling activities for the next financial year to increase production.
  • Cash and cash equivalents at the end of the period were $2.9 million.
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.