{"id":15938,"date":"2026-09-25T09:02:33","date_gmt":"2026-09-25T09:02:33","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=15938"},"modified":"2026-09-25T09:02:33","modified_gmt":"2026-09-25T09:02:33","slug":"liberia-bounty-oil-gas-expands-into-deepwater-liberia-via-petroquest-acquisition","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/liberia-bounty-oil-gas-expands-into-deepwater-liberia-via-petroquest-acquisition\/","title":{"rendered":"LIBERIA: Bounty Oil &amp; Gas Expands into Deepwater Liberia via PetroQuest Acquisition"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">ASX-listed explorer Bounty Oil &amp; Gas<strong> <\/strong>has announced a major strategic expansion into West Africa&#8217;s emerging deepwater play fairway, entering into a binding agreement to acquire 100% of PetroQuest Liberia Deep Water LLC.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Strategic Highlights of the Acquisition<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The deal provides Bounty with exclusive access to negotiate a Production Sharing Contract (PSC) over Block LB-32, a high-impact, 2,322 km\u00b2 offshore exploration block located in the Harper Basin, offshore Liberia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To fund the acquisition, technical due diligence, and initial evaluation workflows, Bounty secured $3.547,500 AUD in firm commitments via a strongly supported placement cornerstoned by institutional investors including Tribeca Investment Partners, L1 Capital Global Opportunities Master Fund, and S3 Consortium (Stocks Digital).<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>High-Impact Offshore Acreage:<\/strong> Block LB-32 spans 2,322 km\u00b2 in the Harper Basin at water depths ranging from 1,500 to 4,200 meters. It was the final unlicensed block in the Harper Basin prior to PetroQuest securing negotiation rights.<\/li>\n\n\n\n<li><strong>De-Risked via Existing Seismic:<\/strong> Covered by roughly 656 km\u00b2 of 3D seismic (part of the TGS Sunfish 3D survey) and 753 line-km of 2D seismic, enabling immediate mapping and resource quantification.<\/li>\n\n\n\n<li><strong>Proven Conjugate Margin Play:<\/strong> Offshore Liberia represents the conjugate margin to the prolific Guyana-Suriname Basin, sharing identical Cretaceous source rocks and deepwater turbidite fan structures.<\/li>\n\n\n\n<li><strong>Surrounding Major Activity:<\/strong> The entry follows recent acreage pushes by major energy operators across the margin, including TotalEnergies, Petrobras, ExxonMobil, Eni, and Murphy Oil.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Block LB-32 &amp; The Cretaceous Fan Play<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Block LB-32 targets Upper Cretaceous basin floor fan systems\u2014specifically the <strong>Jupiter (Turonian)<\/strong> and <strong>Zeus (Cenomanian)<\/strong> fan prospects\u2014which extend into LB-32 from neighboring blocks based on existing 3D seismic mapping.<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\"> <code>                               [ Block LB-32 ]\n                                2,322 km\u00b2 Area\n                                       \u2502\n            \u250c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2534\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510\n            \u25bc                                                     \u25bc\nPrimary Prospectivity                               Existing Seismic Coverage\n \u2022 Jupiter Fan (Turonian)                             \u2022 656 km\u00b2 Sunfish 3D Data\n \u2022 Zeus Fan (Cenomanian)                              \u2022 753 line-km 2D Data\n \u2022 Proven Aptian\/Cenomanian Source\n<\/code><\/pre>\n\n\n\n<p class=\"wp-block-paragraph\">These sand-rich fan complexes sit directly above mature Aptian lacustrine and Cenomanian-Turonian marine source rocks. The regional play fairway has already been validated by historical live oil recoveries (such as 38\u00b0 API oil at the Narina-1 well in the adjacent Liberian Basin) and massive regional discoveries along the West African Transform Margin, including Eni&#8217;s nearby 2.5B bbl Baleine discovery in C\u00f4te d&#8217;Ivoire.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Licensing Terms and PSC Timeline<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Under Liberia\u2019s executive allocation petroleum licensing framework, national oil company <strong>NOCAL<\/strong> holds title to Block LB-32 and issued a binding Letter of Engagement to PetroQuest.<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>PSC Negotiation:<\/strong> PetroQuest, NOCAL, and the Liberia Petroleum Regulatory Authority (LPRA) are negotiating the final Production Sharing Contract.<\/li>\n\n\n\n<li><strong>Legislative Ratification:<\/strong> Following final negotiation, the PSC will be submitted to the Liberian Parliament for formal ratification.<\/li>\n\n\n\n<li><strong>Expected Completion:<\/strong> Because core commercial terms were defined in the underlying agreement, PSC execution and parliamentary approval are targeted for completion by January 2027 or shortly thereafter.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">Leadership Perspective<\/h2>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>&#8220;The proposed acquisition of PetroQuest Liberia Deep Water LLC represents a significant opportunity for Bounty to secure exposure to a deepwater exploration block in the Harper Basin, offshore Liberia, while maintaining a disciplined structure that links material vendor upside to independent technical validation and farm-out delivery.&#8221;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2014 The Board of Directors, Bounty Oil &amp; Gas NL<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">Next Steps for Bounty Oil &amp; Gas<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Following completion of the placement and initial transaction milestones, Bounty\u2019s primary near-term objectives include:<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>Seismic Data Acquisition:<\/strong> Licensing the 656 km\u00b2 Sunfish 3D dataset directly from TGS.<\/li>\n\n\n\n<li><strong>Independent Resource Assessment:<\/strong> Commissioning an independent qualified petroleum reserves and resources evaluator (QPREe) to define prospective resources under ASX Listing Rules.<\/li>\n\n\n\n<li><strong>Farm-Out Preparation:<\/strong> Highlighting drill-ready targets on Block LB-32 to attract global exploration partners and farm-in operators.<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ASX-listed explorer Bounty Oil &amp; Gas has announced a major strategic expansion into West Africa&#8217;s emerging deepwater play fairway, entering into a binding agreement to acquire 100% of PetroQuest Liberia &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/liberia-bounty-oil-gas-expands-into-deepwater-liberia-via-petroquest-acquisition\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":15939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[12620,3917,7932,7933,12621,12619],"class_list":["post-15938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-block-lb-32","tag-bounty-oil-gas","tag-harper-basin","tag-liberia-petroleum-regulatory-authority","tag-nocal","tag-petroquest","entry"],"jetpack_publicize_connections":[],"jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-494","jetpack-related-posts":[{"id":8638,"url":"https:\/\/www.oilnewskenya.com\/index.php\/liberia-makes-changes-to-its-bid-evaluation-criteria-for-the-2020-offshore-licensing-round-for-the-harper-basin\/","url_meta":{"origin":15938,"position":0},"title":"Liberia Makes Changes to its Bid Evaluation Criteria for the 2020 Offshore Licensing Round for the Harper Basin","author":"","date":"July 20, 2020","format":false,"excerpt":"The Government of Liberia, through the Liberia Petroleum Regulatory Authority (LPRA), has made significant adjustments to its bid evaluation criteria for the 2020 Offshore Licensing Round for the Harper Basin. These modifications, according to the Director General,\u00a0Hon. Archie Donmo, \u201care in response to the devastating impact of Covid-19 on the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Liberia-Harper-basin-Round.jpg?fit=615%2C393&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Liberia-Harper-basin-Round.jpg?fit=615%2C393&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Liberia-Harper-basin-Round.jpg?fit=615%2C393&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":15524,"url":"https:\/\/www.oilnewskenya.com\/index.php\/liberia-totalenergies-partners-with-bluenergies-in-its-offshore-harper-basin-fan-play\/","url_meta":{"origin":15938,"position":1},"title":"LIBERIA: Totalenergies Partners with Bluenergies In Its Offshore Harper Basin Fan Play","author":"","date":"January 16, 2026","format":false,"excerpt":"BluEnergies has successfully entered into an industry standard joint study and application agreement (JSAA) with the Liberian upstream subsidiary of TotalEnergies SE (TTE) in order to further explore the prospectivity of the Company's deep water fan play in the Harper Basin, offshore Liberia. The West Africa Transform Margin, where the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Liberia-BluEnergies.jpg?fit=1200%2C884&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Liberia-BluEnergies.jpg?fit=1200%2C884&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Liberia-BluEnergies.jpg?fit=1200%2C884&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Liberia-BluEnergies.jpg?fit=1200%2C884&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Liberia-BluEnergies.jpg?fit=1200%2C884&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":15861,"url":"https:\/\/www.oilnewskenya.com\/index.php\/liberia-bluenergies-and-totalenergies-progress-operations-harper-basin\/","url_meta":{"origin":15938,"position":2},"title":"LIBERIA: BluEnergies and TotalEnergies Progress Operations, Harper Basin","author":"Samuel Kamau Mbote","date":"July 13, 2026","format":false,"excerpt":"BluEnergies has provide an operations update on the work program currently being conducted on the blocks LB-26, LB-30 and LB-31 jointly with TotalEnergies in the Harper Basin, offshore Liberia. The work program, designed to confirm and enhance drillable prospects within the Blocks, is on schedule and comprises the following operations:\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Liberia-BluEnergies.jpg?fit=1200%2C884&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Liberia-BluEnergies.jpg?fit=1200%2C884&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Liberia-BluEnergies.jpg?fit=1200%2C884&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Liberia-BluEnergies.jpg?fit=1200%2C884&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Liberia-BluEnergies.jpg?fit=1200%2C884&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":15244,"url":"https:\/\/www.oilnewskenya.com\/index.php\/liberia-totalenergies-is-awarded-four-offshore-exploration-permits\/","url_meta":{"origin":15938,"position":3},"title":"LIBERIA: TotalEnergies is Awarded Four Offshore Exploration Permits","author":"","date":"September 17, 2025","format":false,"excerpt":"TotalEnergies has signed four Production Sharing Contracts (PSC) for the LB-6, LB-11, LB-17 and LB-29 Exploration blocks offshore Liberia, which were awarded following the 2024 Direct Negotiation Licensing Round organized by the Liberia Petroleum Regulatory Agency. The blocks LB-6, LB-11, LB-17 and LB-29, covering an area of approximately 12,700 square\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/09\/Liberia-blocks.webp?fit=1110%2C1110&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/09\/Liberia-blocks.webp?fit=1110%2C1110&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/09\/Liberia-blocks.webp?fit=1110%2C1110&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/09\/Liberia-blocks.webp?fit=1110%2C1110&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/09\/Liberia-blocks.webp?fit=1110%2C1110&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":9059,"url":"https:\/\/www.oilnewskenya.com\/index.php\/liberia-local-companies-to-participate-in-the-liberia-offshore-license-round-2020\/","url_meta":{"origin":15938,"position":4},"title":"LIBERIA: Local Companies to Participate in the Liberia Offshore License Round 2020","author":"","date":"September 6, 2020","format":false,"excerpt":"Following a vigorous evaluation of Liberian companies who applied to be pre-qualified for the country\u2019s ongoing Offshore License Round for the Harper Basin, The Liberia Petroleum Regulatory Authority (LPRA) has pre-qualified Seven (7) Liberian Companies. Nine (9) companies expressed interest to be pre-qualified but the evaluation panel denied two companies\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Liberia-Harper-basin-Round.jpg?fit=615%2C393&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Liberia-Harper-basin-Round.jpg?fit=615%2C393&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Liberia-Harper-basin-Round.jpg?fit=615%2C393&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12270,"url":"https:\/\/www.oilnewskenya.com\/index.php\/liberia-tgs-announces-enhancement-of-key-3d-seismic-data\/","url_meta":{"origin":15938,"position":5},"title":"LIBERIA: TGS Announces Enhancement of Key 3D Seismic Data","author":"","date":"May 20, 2022","format":false,"excerpt":"TGS has announced an agreement with the National Oil Company of Liberia (NOCAL) to reprocess over 5,100 square kilometers of 3D seismic data over Blocks 8 & 9 in the offshore Liberia basin. The survey will be processed using a Pre-Stack Depth Migration (PSDM) workflow to enable optimal imaging of\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/LiberiaOilGasTGS.png?fit=500%2C422&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-25-105808.png?fit=1125%2C591&ssl=1","_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=15938"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15938\/revisions"}],"predecessor-version":[{"id":15940,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15938\/revisions\/15940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/15939"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=15938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=15938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=15938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}