Armour Energy Ups Northern Australia Gas Reserves Estimates

Armour Energy on Monday announced a 66 percent increase in its total Best Estimate Prospective Gas Resources in Northern Australia to 57 Trillion cubic feet (Tcf).

The update includes maiden Prospective Gas Resources from the Tawallah Group Unconventional Reservoirs in the McArthur Basin of the Northern Territory, as first announced by Armour on 29 April 2015, and the Riversleigh Shale located beneath the Lawn Hill Shale in ATP 1087, Queensland.  In addition, a new combined inventory totalling 193 conventional leads and prospects in the Northern Territory can target 4.9 Tscf of Best Estimate Prospective Gas Resources.  

Armour CEO, Robbert de Weijer, said, “To put it into context, one trillion cubic feet of gas can provide enough energy for one million people for 20 years, and our best estimate of prospective gas resources has been upgraded to 57 trillion cubic feet.  Potentially there will be multiple major developments in this vast, sparsely populated area.”

de Weijer added that the current prospective and contingent resources are certainly a great starting point, and the proposed North East Gas Interconnector pipeline between the Northern Territory and Queensland will enable major supplies of gas to flow to east coast markets.