Bounty Oil & Gas (ASX:BUY): PEP-11 Federal Court Hearing Set for February 2026

2 min read | September 29, 2025 11:35 AM AEST | By Aditi Sarkar

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Bounty Oil & Gas (ASX:BUY): PEP-11 Federal Court Hearing Set for February 2026 — Image source: Company update

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Highlights

Federal Court hearing for PEP-11 now scheduled for 20 and 23 February 2026 in Sydney.

Justice Jackson adjourned proceedings to the NSW Federal Court following a technical law review.

Bounty holds a 15% interest in PEP-11 and operates oil & gas assets across the Cooper/Eromanga and Surat Basins.

Bounty Oil & Gas NL (ASX:BUY) has provided an update regarding the ongoing Federal Court proceedings concerning PEP-11. The update follows a recent announcement by Bounty and operator BPH Energy Limited (ASX:BPH) concerning the handling of the Originating Application.

Federal Court Hearing Details
On 16 September 2025, Justice Jackson, after considering technical points of law submitted by the parties, decided that the hearing should be conducted by him in New South Wales. The proceedings have been adjourned to the Federal Court, Sydney Registry, with the hearing now listed for 20 February 2026 and 23 February 2026.

Originating Application and Joint Venture Context
The Originating Application was lodged by Asset Energy, a 100% owned subsidiary of Advent Energy Ltd (BPH 36.1% direct equity), acting as operator on behalf of the PEP-11 Joint Venture partners, Bounty and Asset Energy.

Bounty’s Asset Portfolio
Bounty is an Australian ASX-listed oil producer and explorer with annual gross oil revenue of AUD 1.2 million. Its core assets are in the Cooper/Eromanga Basins and Surat Basin in Queensland, with additional high-impact exploration interests across Australia, including a 15% direct interest in PEP-11 offshore in the Sydney Basin and potential exploration assets in Western Australia.

BUY shares last traded at AUD 0.003 on 24 September 2025.

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