it would be very nice if BUY gave us its take on this...

it would be very nice if BUY gave us its take on this announcement.
"As a part of the sale, the Company will receive 1,000,000 fully paid ordinary shares in Bounty Oil & Gas NL
(ASX: BUY)."

BUY is obviously building up a significant portfolio in the Surat Basin. But, what else have BUY had to pay for these permits?
and according to DLS
"represents an expenditure saving to the Company of more than $10 million dollars in expected work commitments over the next three (3) years."
So I guess this means BUY now has the same work commitment.

Shareholders deserve a bit better communication

The interests sold by DLS in the two permits are as follows:
ATP 823P 100%
ATP 552P 50%

This adds to current holdings acquired recently. Now Kelso would know these blocks as DLS acquired ATP 823 a couple of years ago on his watch. BUY already had the other 50% of 552P.

I see this as positive. I get the feeling that Kelso is taking BUY forward.

I am concerned about funding. BUY have a significant commitment to PEL 218 where we are paying for 50% of seismic and 50% of a drill. and now we have a much higher work commitment spend.
We may just have enough in kitty to do this.

Now there is one way for BUY to raise significant funds.
I'm starting to speculate that BUY are certain that PEP11 will actually happen. If PEP11 drill was announced, BUY sp would rocket, which would allow BUY to raise significant money in a 'high' ssp. far higher than 1.5c.