Kiliwani Pressure Testing - Nyuni 3D Seismic

Extracts From Bounty Oil and Gas NL Quarterly Activities Report and Appendix 5B – June 30, 2017

Kiliwani

Kiliwani North tested at 40MMcfg/day from Kiliwani North pool only 2km from the new Songo Songo gas plant and pipeline for Dar es Salaam

Production maintained over previous quarter to a satisfactory level at a slightly lower rate to accommodate temporary restriction at the Government owned gas plant

In July 2017, it was planned to shut down for at least 15 days for maintenance during which time the joint venture will conduct pressure tests at the well.

Nyuni

During the year to 30^th June 2017 Bounty increased its interest in Nyuni PSA to 10% increasing their “participation in one of the most dynamic and successful new exploration plays worldwide.”

Operator Aminex PLC, is negotiating a work program variation with TPDC to enable deep water the acquisition of deep water 3D seismic in the outboard sector of the PSA area and deferral of the two exploration well drilling commitment.

Once the variation to work commitment licence has been granted, a re-tender process is planned to select the 3D seismic contractor capable of acquiring high resolution 3D over key Pande West lead in 2017 and to identify other potential prospects in the deep water with a view to bringing them to drill ready status.

There are numerous other deep water channel/fan features with associated seismic anomalies apparent in the Nyuni block from the limited seismic coverage available.  The exploration licence is in good standing.  Bounty has also commenced steps to acquire additional gas interests in Tanzania

Source:  Bounty Oil and Gas