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Bounty Oil & Gas (ASX: BUY) releases latest progress update for Watkins North 1 oil well

August 11, 2023 04:30 AM BST | By Sonal Goyal
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 Bounty Oil & Gas (ASX: BUY) releases latest progress update for Watkins North 1 oil well
Image source: Company website

Highlights

  • Bounty Oil & Gas reports progress on the Watkins North 1 oil well.
  • The company is gearing up to undertake a pressure test at the well.
  • BUY plans to drill an 8-1/2” production hole to approximately 1712 MDRT.

Oil & gas explorer and producer Bounty Oil & Gas NL (ASX: BUY) has shared an update on the Watkins North 1 well oil exploration/appraisal program in the Naccowlah Block, Queensland.

Watkins North 1 is a well with a planned depth of 1840 metres MDRT designed to examine formations including Birkhead/Hutton/Poolowanna.

Bounty shared that early morning 11 August 2023, Watkins North 1 was at 621.5m, having cemented 9-5/8” surface casing. The company has begun with preparations to undertake a pressure test and drill 8-1/2” production hole to nearly 1712 MDRT (measured depth below rig rotary table).

Worth mentioning here is that the well was spudded on 9 August 2023.

BUY shares traded at AU$0.007 on 10 August 2023.


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