Visit www.armourenergy.com.au for more information.
Gas, oil and condensates
Armour Energy Limited is an ASX listed exploration and production company focused on the discovery, development, and production of world class gas and associated liquids resources.
Armour commenced its exploration activity in an extensive and recently recognised hydrocarbon province in northern Australia – in the Northern Territory and in north-west Queensland. The domestic and global demand for gas, combined with the new shale extractive technologies and experienced personnel, provides Armour with an extraordinary opportunity to define and ultimately develop these new liquids rich gas provinces.
In 2016-2017, Armour completed the acquisition of petroleum resources, tenures, production and transportation infrastructure assets on the Roma Shelf in the Bowen-Surat Basin, Queensland from Origin Energy. These assets - Armour's Kincora assets - offer significant cashflow opportunities through the production of oil, gas, LPG and condensate.
The acquisition sets Armour up to become a significant producer of oil, gas, LPG and condensate, strategically located near the Wallumbilla gas hub on the east coast of Australia. Furthermore the Newstead storage facility with a capacity of 7.5 PJs (including 2.3 PJs of contained sales gas) provides Armour with a significant business opportunity to manage this facility and to maximise returns during periods of high gas demand.
Armour's overall achievements currently include:
Oil production commenced August, 2016 from the Emu Apple oil field in the Bowen-Surat assets
Production via Armour's Kincora gas project from 2018 has bought positive cash flow into the business: 2P reserves of 67.9 PJ at December 2018
Currently focused on gas, oil and liquids production and the expansion of infrastructure and in-ground assets at the Kincora Project
Vast exploration potential in new underexplored and rich petroleum provinces in north west Queensland and the Northern Territory
Diversified portfolio of production and large scale exploration opportunities with excellent results to date
Well positioned to become a major supplier to Australian east coast and export markets, with gas demand expected to significantly increase
Proven Board and management team with track record for delivering shareholder value
Armour's permit areas are characterised by low population densities, cooperative stakeholders, and aspects of the natural environment suited to the exploration and development of a future gas and liquids province.
Armour Energy holds approximately 7% of Lakes Oil Nl. Lakes holds a certified onshore gas resource of 11TCF in Victoria Australia (of which approximately 3TCF is conventional), which at the current norm for valuing in-ground gas resources of 50 cents per Gigajoule, provides a value of $5.5B.
For more information on Lakes Oil NL please head to: www.lakesoil.net.au