not even at resevoir depth, page-21

What is the key point of an exploratory well?

PROVE THE RESERVE

Then what

DEPENDS ON THE RESERVE

Why plug and abandon ??

THEY DIDNT BRING A FULL PRODUCTION PIPE FROM NEWCASTLE WITH THEM

If we strike gas , and dont do any environmental damage in the process, the big boys will be all over us to get involved - Look where it is !!!

Plugging and abandoning can be temporary, but is mandatiry to ensure NO environmental damage whilst decisions are being made on next steps


as a reminder see recent Surat activity announcement below

Ubute 1 was a successful exploratory drill at Surat thta was plugged and abandoned

see announcement below

15 November 2010
ASX/MEDIA RELEASE
Ubute 1 Final Report - Utopia Block
Bounty Oil & Gas N.L. (??Bounty??) announces that the Ubute 1 oil exploration well within the
northern section of the Utopia block (ATP560P) will be plugged and abandoned. Electric logs
established the presence of thick sections of the Birkhead and Hutton Formations displaying
reservoir quality sands but with only trace oil. These Formations contain major oil reserves in
the area and proof of their presence upgrades the potential for stratigraphic traps in the
Utopia Block and for conventional traps in ATP 789P Bargie South Block (100% Bounty) to
the north.
The well has also contributed to understanding of potential oil migration pathways in the
Utopia.Block.
Current operations ?V ADS 6 Rig setting abandonment plugs following completion of electric
logs.
ADS 6 will immediately commence the next 2 wells in the program which will be
development wells in the producing Utopia Oil Field.
Participating interests are:
?h Bounty Oil & Gas NL 40%
?h Bridgeport Energy Limited 60% (Operator