In 2011 Bounty purchased a 2% interest in the Naccowlah Block SW Queensland. This Block covers an area of 1,064km², 40% of which is covered by the Naccowlah Block JV. The remaining area is covered by 22 Petroleum Leases encompassing the producing fields. Currently this area delivers 80 bopd net to Bounty with net 2P reserves of 104,000 bbls.  In recent years the joint venture partners have undertaken an extensive program of development, appraisal and NFE drilling.

The Jackson and Jackson South fields and associated production facilities are one of the largest in onshore Australia

The project has an extensive 3D seismic database and the joint venture has successfully drilled near field exploration wells at Irtalie East and Watson West and has an inventory of similar targets for both Near Field and Development operations for several years to come.  The principal targets lie in the Top Hutton and Basal Birkhead Formations, with secondary objectives in the Westbourne and Murta Formations.

Two further development wells targeting 2P undeveloped reserves of 250,000 bbls and potential production increases of 400 bopd are scheduled for later 2013 along with ongoing production optimization work on existing wells.