Armour Energy Ltd is looking to farm-down its 100% owned exploration licences across the McArthur and Georgina basins. Armour operates six licences under the jurisdiction of the Northern Territory: EP 171, 174, 176, 190-192, which are all available for farm-in. There are also seven applications in place which were lodged between 2009 and 2010, covering nearly 45,000 sq km and Native Title negotiations are ongoing.  Armour was also offering interest in an additional exploration licence and four applications across the region and into Queensland jurisdiction. On 15 October 2019 Armour reported that it had entered into an agreement with Santos, for Santos to acquire 70% interest in ATP 1087-P and applications ATP 1107-P, ATP 1192-P, ATP 1193-P, EP(A) 172 and EP(A) 177. The deal is worth around AUD 15 million plus a further AUD 65 million in work programme commitments. Across ATP 1087-P, Armour reports 364 Bcf of contingent resources (3C) to date and anticipates enough gas in place to supply a 6 MMtpa LNG plant for 25 years. It was reported by the company that the proof of concept in Egilabria opens up a potential for additional 18.7 Tcf of prospective resources from shale gas, primarily within the Lawn formation and across staked plays. Both the Lawn and Riverleigh formations are considered proven source rocks, which lay under basal anticlinal plays. The source rock quality at Egilabria displayed TOC up to 11% with mature, dry gas. Armour would ideally revisit the wells to conduct an appraisal pilot to target 2-3 Bcf of recoverable gas.  In the remaining acreage where Armour operates with 100% interest, the company is seeking a partner to assist in additional seismic acquisition and drill a combination of exploration wells and appraisal/pilot wells to push the needle on 22 Tcf of prospective shale gas resources. A data room is available to review the shale gas plays and shallower, conventional plays which have been identified by Armour.  Armour is focusing on shale gas plays and deeper oil plays. The McArthur Basin contains large unexplored areas with stacked play opportunities as identified by Armour from seismic interpretation in the McArthur Group (Barney Formation), and the deeper Tawallah Group (Wollogorang and McDermott formations). To further delineate these opportunities, Armour is looking for a partner to assist with a regional seismic programme before drilling deep stratigraphic wells.  To date, just six wells exploration wells have been drilled by Armour in over 45,000 sq km of licensed area. Gas flows up to 3.3 MMcf/d have been achieved from the McArthur Group. Prospective resources for the McArthur Group (Barney Creek Formation), within EP 171 and EP 176, has been reported by Armour to be around 1.2 MMbbl oil and 13 Tcf gas.  There are also conventional oil and gas plays, including 18 prospects along the Batten Trough, dominantly in the Coxco Dolomite. The Glyde and Lamont Pass discoveries encountered gas bearing intervals within the dolomites and dolomitic shales of the target Middle Proterozoic Barney Creek Formation prior to drilling in to the Coxco Dolomite Formation which formed the wet gas discovery made by nearby zinc exploration well Glyde River 9, drilled in 1979.  Upon lifting of the hydraulic fracturing moratorium, which has been in place since September 2016, the Northern Territory government agreed to implement all of the 135 recommendations laid out in the final scientific enquiry report. This has affected the timeline in relation to the award considerations of Armour's extensive application areas. Non-invasive activities have been permitted during the Native Title negotiations carried out. Armour considers the areas ready for farm-out upon final the awards.  Armour Energy Ltd is offering participating equity in seven exploration licences as the company seeks to further test the shale gas/oil and conventional plays present.  Interested parties should contact:  Richard Fenton â Armour Energy, CEO  Email: rfenton@armourenergy.com.au
Armour Energy Ltd is looking to farm-down its 100% owned exploration licences across the McArthur and Georgina basins. Armour operates six licences under the jurisdiction of the Northern Territory: EP 171, 174, 176, 190-192, which are all available for farm-in. 