Bounty Oil & Gas NL is an Australia-based oil and gas explorer and producer. The Company is engaged in exploration, development, production and marketing of oil and gas (petroleum). It has oil production at Naccowlah in SW Queensland and two developed proved oil and gas leases in the Surat Basin and oil/gas exploration interests in Carnarvon Basin, WA. It also has material offshore exploration interests, including PEP 11 Sydney Basin. PEP 11 covers 4,576 square kilometers (km2) of the offshore Sydney Basin adjacent to the gas market in Australia. The Rationale Jacobson Project (Carnarvon Basin) incorporates 3,197 km2 of the three permits, namely EP 490 and 491 and TP 27 offshore Carnarvon Basin and lies 70 kilometers east of Barrow Island, Western Australia. It monitors the Rough Range 1B well in petroleum license L 16 onshore Carnarvon Basin, surrounding Rough Range Oil Field, 60 km South of Exmouth. The Naccowlah Block consists of ATP 1189 and 26 petroleum leases totaling 1,794 km2.