Oil-Bearing Formation
(It Z.PJt. staff Corretpondentl SYDNEY, August 18. Bounty Oil, Ltd, today declined to elaborate on its report to the Sydney Stock Exchange that its Bounty No. 1 well, near Murchison, had penetrated an oil-bearing formation. “The report was carefully worded to give a true picture of the situation at the time,” said the company's secretary. Mr D B. Kirkpatrick. In its report, the company said Bounty No. 1 had penetrated a 2ft section of oilbearing formation at 5716 ft At 5630 ft the drill penetrated a fractured zone In which petroliferous gas was encountered, the directors said. '
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Bibliographic details
Press, Volume CX, Issue 32379, 19 August 1970, Page 1
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99Oil-Bearing Formation Press, Volume CX, Issue 32379, 19 August 1970, Page 1
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