Armour Energy – ASX code AJQ
Armour Energy has one of the largest shale gas acreage positions in Australia. Armour Energy Limited (Armour Energy) is focussed on the discovery and development of gas and associated liquids resources in a hydrocarbon province in northern Australia.
Armour Energy in the news …
The Market Doesn’t Like What It Sees From Armour Energy Limited’s (ASX:AJQ) Revenues Yet As Shares Tumble 33%
17 April, 2023 – The Armour Energy Limited share price has fared very poorly over the last month, falling by a substantial 33%. For any long-term shareholders, the last month ends a year to forget by locking in a 64% share price decline.
Insiders who bought this year lost AU$132k as Armour Energy Limited (ASX:AJQ) sheds AU$2.3m in value
16 February 2023 – The recent 14% drop in Armour Energy Limited’s (ASX:AJQ) stock could come as a blow to insiders who purchased AU$327k worth of stock at an average buy price of AU$0.01 over the past 12 months. … their initial investment is now only worth AU$195k, which is not great.
Armour Energy exploration licenses
The company has a diverse portfolio of assets across Queensland, Northern Territory, Victoria & South Australia with a primary focus on the discovery, development and production of Gas, LPG, Gas Condensate and Oil.
McArthur Basin, Northern Territory
The McArthur Basin is a region located in the Northern Territory of Australia and is known for its potential for significant oil and gas resources. Armour Energy has a significant presence in the McArthur Basin, holding exploration permits covering over 11,000 square kilometers in the region.
Cooper Basin, South Australia/Queensland
One of Armour’s key projects is located in the Cooper Basin, a region spanning the borders of South Australia and Queensland.
The Cooper Basin is one of Australia’s most important hydrocarbon-producing regions, and Armour Energy’s interests in the basin include both conventional and unconventional resources. The company has an extensive portfolio of permits in the area, covering over 22,000 square kilometers, and a 100% interest in these potential gas fields.
Surat Basin, Queensland
Armour Energy’s Surat Basin asset includes three gas fields: the Kincora, Roma North, and South blocks. The company has conducted extensive exploration and appraisal activities in the area, identifying substantial gas resources and establishing a significant production base.
In addition to its conventional gas resources, Armour Energy is also exploring the potential for unconventional gas in the Surat Basin, including coal seam gas and shale gas.
Armour 100% owner & operator of Kincora Gas Project, a 4 exploration Authority to Prospect (ATP) licenses covering over 2,000 km2. Armour is operator of 3,000 km2 of production licenses and exploration licenses with 90 development wells in 39 gas fields and 6 oil fields with 40 current production wells
As of March 20, 2012, Armour Energy held 100% ownership interests in two granted exploration permits, exploration permit (EP) 171 and EP 176, located in the Northern Territory.
Armour Energy has exclusive rights in respect of an additional 13 exploration permit applications (EPAs) in the Northern Territory.
Armour Energy has a substantial acreage position covering approximately 126,000 square kilometers of the McArthur, South Nicholson and Georgina Basins.
In December 2011, the Company secured a 13% interest in Lakes Oil, an oil and gas explorer focused on the Otway and Gippsland Basins, Victoria and entered an agreement to earn 51% interest in two tenements (petroleum exploration permit (PEP) 166 and PEP 169) held by Lakes Oil and an option to acquire 50% of Lakes Oil’s interest in a third tenement.
The Board of Armour Energy includes four past Directors of Arrow Energy, and the same expansive approach to exploration and development that drove Arrow’s evolution is planned for Armour Energy
Otway Gippsland Basin (offshore)
The Otway Basin is a region located off the southern coast of Australia, spanning the border between Victoria and South Australia. The basin is known for its potential for significant oil and gas resources, and Armour Energy’s key focus area is the company’s Enerprise North Prospect. Armour holds a 51% interest in Enterprise North-1.
Newstead, Brisbane Gas Storage Facility
453 acre site, PL 27, with three existing gas wells and pipelines to Kincora Gas Plant and Wallumbilla Hub.
Armour Energy spuds Queensland shale gas well
August 26, 2013 – Armour Energy (ASX: AJQ) has spudded the Egilabria 4 vertical well targeting multiple plays in the Carpentaria Basin, Queensland.
These include the Lawn and Riversleigh Shales as well as the basal Jurassic sands. Of these, the Lawn Supersequence in ATP 1087 was previously assessed to host Mean Prospective Resources of 22.5 trillion cubic feet of gas.
In addition, while no resource assessment has been completed for the Riversleigh Shale, gas shows were noted in the sequence at the 1990s Comalco Argyle Creek 1 and Desert Creek 1 wells.
Separately, the company has identified numerous leads in ATP 1087 that have the potential to host hydrocarbon accumulations.
The earlier Egilabria 2 is being prepared for an eight stage hydraulic stimulation to be carried out within two weeks. This will be followed by a production test.
Egilabria 2 had encountered gas flows and shows during drilling above and through the Lawn Shale.
Index page: Gas Explorers in Australia
