yup .... drilling in Tanzania coming up. Maybe news on offshore...

yup .... drilling in Tanzania coming up. Maybe news on offshore Sydney due. Not that many shares on issue, so if they find something, you haven't seen nothing yet.
Here's a quick overview, copied from my wp account

Utopia Oil Field (40%):
The Utopia Oil Field is located in ATP 560P in the Eromanga Basin in SW Queensland. During the March quarter 2007, the four operating wells produced 3,574bbls. Average daily production from the field was 39.71bbls.
AC/P 32 - Vulcan Sub-Basin (16%):
The area covers the Magnolia and Wisteria prospects which may hold up to 85mmbo and 52mmbo recoverable respectively. As at March 2007, work has been completed on the newly acquired 3D seismic data identifying a multi-horizon prospect.
PEP-11 - Offshore Sydney Basin (100%):
PEP 11 covers a 200km long, 8400sqkm exploration area. The area is totally untested, but highly prospective. Adjacent wells drilled onshore Sydney Basin have flowed gas or encountered oil shows. BUY has identified the Biggus prospect as a major target. The company believes it has the potential to hold up to 1.2 Tcf of recoverable gas. As at March 2007, BUY has obtained a suspension and a 12 month extension to its PEP 11 permit term.
WA-324-P - Bonaparte Basin:
The exploration permit is located 80km off the coast of Western Australia. Since commencing work in the permit, Bounty has reprocessed 318km of seismic data and believes there to be a number of prospects that may contain large amounts of recoverable gas. As at March 2007, BUY continues on mapping the 340km of the Dolphin seismic survey.
Other Interests:
Bounty’s other projects include WA0325-P & WA-327-P in Offshore Perth Basin, EP 412 (65%) in the Carnavon Basin, the Nyuni Block (6%) in Tanzania, EP 435 (10%) in Rough Range and PEP 38215 in the Great South Basin, NZ.