Bounty Oil & Gas NL (AU:BUY) has released an update.
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Bounty Oil & Gas NL reports a slight decrease in oil prices and $1.61 million in unaudited revenue for the year, with $376,000 earned in the last quarter ending June 2024. The company is advancing oil development in Queensland’s Cooper and Surat Basins and has taken full ownership of additional reserves near Alton. They anticipate an increase in oil production, aiming for revenues above $3 million per annum by 2025, as they prepare to commence production in the Surat Basin and continue exploring for gas in the Carnarvon and Sydney Basins.
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