Bounty Oil & Gas expands into Liberia's Harper Basin with the acquisition of PetroQuest Liberia Deep Water and a A$3.55 million placement to fund exploration of the LB-32 block.
Bounty agreed to acquire PetroQuest Liberia Deep Water and raise A$3.55m, but the deal is conditional and subject to approvals, making the immediate impact neutral.
Bounty Oil & Gas has entered an agreement to acquire PetroQuest Liberia Deep Water, securing exclusive negotiation rights for the offshore Block LB-32. The deal, supported by a A$3.55 million capital raise from cornerstone investors, remains subject to regulatory approvals and the successful execution of a production sharing contract by late 2026.
Block LB-32 is located in Liberia's Harper Basin and contains deepwater fan prospects, specifically the Jupiter and Zeus targets, offering potential for significant resource discovery.
The deal requires due diligence, shareholder and regulatory approvals, a minimum A$3 million capital raise, and the successful execution or clear path toward a production sharing contract.