Menu

Australian Shares is the world's biggest free online database of information on Australian resource companies.

Time to Update your company profile
Australian Shares

ARMOUR ENERGY LIMITED

ASX: AJQ

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Armour Energy projects are in a new petroleum province in a 100% owned region across the McArthur, South Nicholson and Georgina Basins in the Northern Territory and Queensland, and in the onshore Gippsland Basin in Victoria in joint venture with Lakes Oil.

Shale gas exploration in Australia is at its infancy and Armour Energy believes it currently has a unique opportunity as an early entrant into this hydrocarbon province in northern Australia.

Armour Energy has assembled a significant tenure position that would be difficult to replicate, given the approximately 133,000 km2 now controlled by the Company through its two granted permits, EP 171 and EP 176, its exclusive rights over 13 other EPAs in the Northern Territory. Armour Energy has been granted ATP1087 and is preferred tenderer on ATP1107 in North West Queensland. The tenements cover approximately 3.6 million acres and encompass the south Nicholson Basin and underlying Isa Super basin which extends westward into the Company’s Northern Territory applications. The acreage is largely contiguous over key areas of the southern McArthur and South Nicholson Basins, as well as the northern and central parts of the Georgina Basin and is comparable in size to the Barnett and Eagle Ford shales as depicted in the image below.


Enlarge

The primary target for Armour Energy’s aggressive drilling program over the next three years is to define up to 9 Tcf of gas resources and reserves from the Lawn Hill Shale Play in the eastern area of ATP1087. This is a sufficient gas volume to supply a 6 million tonne per annum Liquefied Natural Gas (LNG) project for a period of 25 years.

To complement Armour Energy’s prospective areas in Northern Australia, the Company made a strategic investment in Lakes Oil, an oil and gas explorer focused on the Otway and Gippsland Basins, Victoria and entered agreements on three key projects:

  • PEP166 in the Onshore Gippsland Basin where, in addition to its stake in Lakes, Armour holds a 25% interest and a right to earn up to 51% by drilling an additional well or, alternatively, expending $4.75 million on exploration. The main target within PEP166 is the extensive gas resources reservoired in the Strzelecki Group and oil in the Rintoul Creek Sandstone;
  • PRL2 in the Onshore Gippsland Basin where, over the next 2 years (or potentially longer, depending upon extensions resulting from regulatory delays), Armour has options to acquire in its own right half of Lakes’ project interest in the Trifon and Gangell blocks within PRL2 and a 25% interest in the balance of PRL2. Alternatively, Armour may match Beach Petroleum’s farm-in agreement on PRL2 under certain conditions; and
  • PEP169 in the Otway Basin where Armour holds a direct 51% interest. PEP169 hosts the 2012 Moreys 1 gas and condensate discovery and the promising Otway 1 target.

Mine For

oil, gas

Location of operation(s)

Northern Territory, Victoria

Australian Basins

Otway, Gippsland, MacArthur, South Nicholson, Georgina

Address

Level 27 111 Eagle Street
Brisbane, Queensland, Australia

Phone

+61 7 3303 0620

Email

Website


Last Updated

8/08/2014

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.