Armour Energy Expands in Queensland

Armour Energy Limited has been awarded two new exploration licenses in Queensland, Australia.

The company Thursday announced that it has been successful in its tender for Queensland Petroleum Land Releases (PLR) 2014‐1‐2 and 2014‐1‐3, which are located to the southwest of the company’s existing Queensland tenement position ATP 1087 and ATP(A)1107.

“Being awarded preferred tenderer status for these new tenements is an exciting development for the company as it increases the company’s exposure to the South Nicholson Basin and in particular the highly prospective Lawn and Riversleigh Shale Formations.  The two tenements increase Armour Energy’s acreage position by about 5,400 km2 (1.3 million acres),” Armour Energy CEO Robbert de Weijer said.

From work done to date in its existing permits, Armour believes that prospective Isa Super‐Basin sediments continue to the southwest, underlie both PLR 2014‐1‐2 and PLR 2014‐1‐3 and continue westward into the company’s Northern Territory tenements.  Both the Lawn Shale and Riversleigh Shales are believed to be present.   

“There are various synergies that exist in developing gas resources in ATP 1087 and ATP(A) 1107 and potential resources within PLR 2014‐1‐2 and PLR 2014‐1‐3,” the company said.

Third party independent certifier SRK Consulting estimates Contingent Resources relating to the Lawn Hill Shale Formation in the Egilabria 2 well of 364BCF 3C; 154BCF 2C; 33BCF 1C.