Bounty Oil Issues Share to Raise Capital

Bounty Oil & Gas NL announces that it has allotted the 13,750,000 shares at 14.5 cents each to raise A$1,933,750 (less costs of the issue) pursuant to the Shareholder Share Purchase Plan.

Of these shares, a total of 1,092,000 shares were issued as part of the underwriting to clients of Burdett Buckeridge Young Limited (Placement Shares).

The Placement Shares were issued in reliance on the relief from the resale restrictions in subsection 707(3) of the Corporations Act provided in the Australian Securities and Investments Commission Class Order 02/1180 (Class Order).

In accordance with the Class Order the Directors advise that they are not aware of any information that would be required to be disclosed under section 713(5) of the Corporations Act, if a transaction specific prospectus were to be issued in reliance on section 713 of the Corporations Act in relation to the securities, that has not already been disclosed to ASX.