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An update from Bounty Oil & Gas NL ( (AU:BUY) ) is now available.
Bounty Oil & Gas NL has announced that Asset Energy Pty Ltd, the operator of the PEP-11 Joint Venture, has applied for a judicial review with the Federal Court regarding a decision made by the Commonwealth-New South Wales Offshore Petroleum Joint Authority. The decision in question refused the joint venture’s applications to vary, suspend conditions, and extend the term of Petroleum Exploration Permit NSW-11. The application seeks to quash the decision and remit the applications for reconsideration. This legal action could impact Bounty’s exploration activities in the Sydney Basin, potentially influencing its market position and stakeholder interests.
More about Bounty Oil & Gas NL
Bounty Oil & Gas NL is an Australian oil producer and explorer listed on the ASX under the code BUY. The company generates gross oil revenue of A$1.6 million annually and holds core petroleum production and exploration assets in the Cooper/Eromanga Basins and the Surat Basin in Queensland. Bounty is also involved in high-impact projects across Australia, with a 15% interest in PEP 11 offshore Sydney Basin and exploration interests in Western Australia.
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.44M
For detailed information about BUY stock, go to TipRanks’ Stock Analysis page.
