The L16 Petroleum Licence straddles the Rough Range anticline home to Australia’s first oil discovery in 1955.  The primary target is oil in the Cretaceous Birdrong Sandstone up dip from the source kitchen in the Paterson Trough immediately to the west of Rough Range.  The Dingo Claystone is the prime source rock in this area and for much of the Carnarvon Basin.  Where drilled within Bounty’s lease the Dingo Claystone is just within the oil window, the drill cuttings show bright fluorescence instantaneous fluorescent oil cut with solvent and have a total organic carbon content of 1% – 2.5%.  Within the Patterson Trough (Paterson East Lead) the Dingo Claystone is expected to be well within the oil window and to make an excellent target for a shale oil play.

Bounty is conducting an extensive review of the seismic, structural and geological database to identify a more certain method for defining seismic structures. There are significant oil reserves within PL L16