Pennyoil? Why do you like it?
I see it as going sideways or down in the short to medium term due to having no company making exploration/production happening in the next 12 to 18 months.
Also, cash on hand is extremely low. Without selling some of their equity investments or doing a capital raising they'll be out of cash early in the new year.
yes - you are right with the share price being sideways BUT they have massive exposure to three areas (Nyuni, AC/P 32 and PEP11). If you compare this company to some of the coal bed methane companies in Australia (acerage, cash flow) you will be suprised. A partner in AC/P32 and this share is a hit.
Tanzanian production from Kiliwani North has been pushed back further according to the latest update from Aminex, the operator. Now looking at late calendar 2014, previously was expected in the first half of calendar 2014.
Bounty Oil Development Drilling 2013. :idea:
17th September 2019
Companies Announcement Office
Level 4, 20 Bridge Street
Sydney, NSW 2000
BPH Energy Ltd (ASX: BPH) investee Advent Energy PEP 11 developments
BPH is wishes to advise that investee Advent Energy Ltd has now terminated by mutual
consent the RL Energy Joint Venture Agreement for the PEP11 permit.
Advent, through wholly owned subsidiary Asset Energy Pty Ltd, holds an 85% interest and is
operator of the permit. Bounty Oil and Gas NL (ASX: BUY) holds the remaining 15%.
The Joint Venture is now reviewing the work program and evaluating proceeding with the
drilling of a well at the Baleen drill target subject to approvals of NOPTA and other regulatory
The PEP11 project lies in the offshore Sydney Basin adjacent to the NSW coast, extending
from Sydney to Newcastle and situated in Commonwealth waters.
The PEP11 project comprises significant structural targets believed to hold material quantities
of natural gas.
PEP11 is supremely located to potentially supply gas into the east coast gas market.
Advent completed, with JV partner Bounty Oil, a 200-line km 2D seismic survey in PEP11 in
the second Quarter of 2018 at Baleen to assist in the potential future drilling of this target
approximately 30 km south east of Newcastle. BPH holds a 22.6 % interest in Advent Energy
• Petroleum Revenue up 130% to $3.66 million (2018 $1.57 million)
• Operating profit of $1.12 million before non-cash expenses
• Average price received A$106/bbl
• Gross Production 39,792 barrels
• Downlands gas field licence renewed, operations underway to return to
Appraisal, Development and NFE.
• 13 well Naccowlah program completed with 79% success rate
• Similar Naccowlah program being planned for 2020
• Targeting over 1 million barrels in the Surat Basin in Bounty controlled
needs a new board ..great play just mis managed imo
bang .. trading halt,,
where smoke fire imo
topped up looks cheap
from .005 a 3 bagger
go buy, $$ bring on pep 11 drill..watch sgc a roughie in the gas space//