• Block 2P & 2C developed reserves  were 6.848 mmbbls
• Bounty held 2% of 2P reserves: 69,000 bbls
• Bounty’s share of 3P reserves in the Block was 110,000 bbls.

In 2011 Bounty purchased a 2% interest in the Naccowlah Block SW Queensland. This Block covers an area of 1,064km², 42% of which is covered by Naccowlah Block JV. The remaining area is covered by 22 Petroleum Leases encompassing the producing fields. Currently this area delivers 80 bopd net to Bounty with net 2P reserves of 104,000 bbls.  In recent years the joint venture partners have undertaken an extensive program of development, appraisal and NFE drilling with significant success; resulting in gross oil revenue for Bounty of $3.7 million in 2019 from increasing oil production.

The Jackson and Jackson South fields and associated production facilities are one of the largest in onshore Australia.

The project has an extensive 3D seismic database and the joint venture has in 2019/2020 successfully drilled near field exploration wells at Irtalie East Watkins, Watson West and Cooroo Field and has an inventory of similar targets for both Near Field and Development operations for several years to come.  The principal targets lie in the Top Hutton and Basal Birkhead Formations, with secondary objectives in the Westbourne and Murta Formations.

So far in 2023 Bounty has participated in 3 new wells, 2 of which were cased and suspended ready for oil production.