Australia's Bounty Oil & Gas dips most in 3-1/2 years on preliminary permit denial

Bounty Oil and Gas NL

19/09/2024 06:13

** Shares of Australia's Bounty Oil & Gas  BUY.AX  fall as
much as 33.3% to A$0.003, their biggest loss since early-March
2021
    ** The oil & gas explorer hits its lowest level since June
27
    ** Co says Australian Industry Minister has preliminary view
to refuse petroleum exploration permit at Sydney Basin
    ** 12.3 mln shares change hands, compared with the 30-day
average volume of 2.3 mln
    ** BUY stock down 65% YTD at 0509 GMT, significantly
underperforming the ASX 200 energy  .AXEJ  sub-index which is
down 17.3%

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))