Shares in Bounty Oil & Gas have reached six months highs this week, reaching and holding 11.5 cents in anticipation of drilling the Leafcutter-1 well in the Perth Basin within the month.
Leafcutter-1 will test the upthrown block of the Beagle Ridge west of the onshore Woodada Gas Field, with Hardman Resources operating the well and holding 75% equity. Bounty has a 25% stake.
Bounty shares have been trading between nine and 10 cents over recent months, bottoming off 7c in March and late April.
Volume has picked up this week with BUY closing at 11.5 cents for the past two days. It closed on Friday at 9.1c.
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