Bounty Oil and Gas NL says that Utopia 13 development well at Utopia Oil Field SW Queensland has intersected the Murta zone oil reservoir with oil shows in the zone having similar characteristics to the Utopia 3 production well to the north.

The well proved approx 2-3 metres of net reservoir (good sand) out of 4 metres of gross reservoir above the oil water contact.

Core cut through the interval has been despatched for analysis and the well will be cased as a production well.

Bounty had elected to go non consent in the Utopia 13 well but retains buy back in rights under the joint operating agreement.

Tags: Bounty Oil & Gas