Bounty Oil & Gas NL (“Bounty”) is pleased to announce that the “Ocean Patriot” semi submersible drill rig has been positioned at the New Seaclem 1 location, fixed with 8 anchors and has ballasted down. All operations have proceeded smoothly aided by calm seas.
The well will be spudded later today; 2 days ahead of schedule.
Bounty will release further details as soon as this information is available.
The well operator is Asset Energy Pty Limited a wholly owned subsidiary of Advent Energy Limited.
About: Bounty Oil and Gas Nl
Bounty Oil and Gas Nl is an Australian ASX listed oil producer and explorer. Its core petroleum production and exploration assets are located in the Cooper/Eromanga Basins and in the Surat Basin in Queensland and South Australia. Its growth assets are spread over a number of high impact projects in Australia and Tanzania where it is exploring for oil and gas. In Australia it is a participant in PEP 11, Sydney Basin with up to 16 trillion cubic feet (TCF) gas potential and in other permits. In Tanzania it is a participant in the Kiliwani North gas discovery and is exploring additional gas pools with up to 1 TCF potential.
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Source: Bounty Oil and Gas ,December 14, 2010;