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BUY (BOUNTY OIL & GAS NL) 2010-01-04:
Bounty Oil & Gas announced that the Utopia 8 oil development well in the Utopia Field, SW Queensland is a further new oil discovery and will be cased and completed as a new oil producer. Oil from the Utopia Field is sold and trucked to the nearby Eromanga Refinery approx. 50km to the north. Good oil shows were recorded over a 10m interval in the Murta Zone from 1016 to 1026m BRT. The top of the zone was higher than in the recent successful Utopia 7. Logging operations are currently in progress.