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Bounty Oil & Gas NL Annual Report - 2011
PEL 218 Eromanga Basin, NE South Australia – Bounty 23.28% in section above the Permian
Location: 50 Km northeast of Moomba, SA
Background
PEL 218 is prospective for oil and coal seam gas (CSG). It covers the Nappamerri Trough the main source
kitchen for the oil and gas fields in the surrounding areas. In September 2008, Bounty earned in by funding
50% of Wakefield 1. It was the first well drilled specifically to test for oil in this part of the Eromanga Basin and
demonstrated that not only are hydrocarbons being actively generated but that many of the sands are oil
saturated and have suitable seals. Wakefield 1 well was cased and suspended to enable the joint venture to
test the oil shows in a number of zones in the Murta and McKinlay Members, Namur Sandstone, Adori
Sandstone and Birkhead Formation.
Wakefield 1 also intersected 9 metres of gassy coal at the base of the Winton Formation, confirming
widespread coals within the Nappamerri Trough. The best developed coals occur in a zone through the
licence with up to 14 metres of coal in the section. The Beach Energy-Adelaide Energy Joint Venture has
drilled two shale gas wells (Holdfast 1 and Endeavour 1) in the underlying Permian section in which Bounty
has no interest. These wells have also provided additional data on the coal distribution. If producible CSG is
proved, Bounty may have major reserves as the permit covers 1600 km 2 .
Testing has been curtailed in 2010 and in 2011 by the extremely wet conditions and flooding along the Cooper
Creek, SA. The forward program will involve testing Wakefield 1.
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