Bounty Oil & Gas NL ( (AU:BUY) ) just unveiled an announcement.
Bounty Oil & Gas NL reported a cash position of $0.78 million with no debt as of March 2025. The company has increased its oil reserves in Queensland to 313,000 barrels, driven by acquisitions and project developments in the Surat and Cooper Basins. Bounty is progressing with oil development in the Naccowlah Block and plans to resume production in the Surat Basin later in 2025. Despite a temporary decline in oil revenue, production is expected to increase significantly by 2025-26. The company is also involved in legal proceedings concerning the PEP 11 offshore project and awaits regulatory decisions for the Jacobson Project in Western Australia.
More about Bounty Oil & Gas NL
Bounty Oil & Gas NL operates in the energy sector, focusing on oil and gas exploration and production. The company is actively involved in developing oil reserves in Queensland, Australia, with a particular emphasis on the Surat and Cooper Basins. Bounty is also exploring opportunities in offshore projects and is committed to expanding its oil reserves and production capabilities.
Technical Sentiment Signal: Sell
Current Market Cap: $2.01M
See more data about BUY stock on TipRanks’ Stock Analysis page.