BUY - Offshore Liberia Investor Presentation

Our oil exploration Investment Bounty Oil & Gas (ASX: BUY) just put out an updated investor presentation for its acquisition in offshore Liberia.

The Liberia offshore block is the reason we added BUY to our Portfolio.

This is BUY’s first presentation covering the new acquisition:

Check out the presentation here

Why we like BUY from a technical perspective

We did a pretty big deep dive in our initiation note (which you can see here).

BUT the main reason we liked the deal BUY did for these blocks is because the way deepwater targets are being explored has changed a lot inside the last ~10-15 years.

And NONE of the deepwater targets offshore in Liberia have ever been drilled.

Which we think is an opportunity - in a ‘post Guyana’ world.

For anyone who missed our initiation note.

The ultra deep water targets called “basin floor fan” plays were what delivered Exxon's ~11 billion barrels in discoveries offshore in Guyana.

Now, ultra-deep water targets are where most of the supermajors are focusing their offshore exploration around.

(basically on the hunt for the next Guyana)

~$280BN TotalEnergies which took 65% of the three blocks immediately west of the block BUY may end up owning - is going after those deep water “basin floor fan” targets.

Here is a visual summary of the basin floor fan concept AND why we care about them:

(source)

Interest in these type targets has developed quick too, here is Liberia from back in 2024:

(source)

And here is what it looks like now:

(source)

The majors look like they are thinking in a similar way, we came across this a couple of weeks ago

(source)

What do we want to see BUY deliver next?

🔄 Complete the offshore Liberia acquisition

We want to see BUY complete the acquisition of the offshore Liberia block.

Here are the conditions BUY needs to meet to get the deal done:

(source)

🔄 Define a prospective resource based on 3D/2D seismic data

We want to see BUY put together a prospective resource estimate on its block based on 3D/2D seismic data (instead of personal gut feel from the vendor’s geo team).

We think that will be when the market really starts to get a better understanding of the project.

Here are the milestones we are tracking:

• ✅ Licence the 3D and 2D datasets (licensed today)
• 🔲 Reprocessing complete
• 🔲 Seismic data results
• 🔲 Targets confirmed (Zeus and Jupiter)

🔄Production Sharing Contract

We want to see BUY convert its “Letter of engagement” over its Liberian block into a Production Sharing Contract