Armour Finds More Gas In Queensland

An in house assessment by Armour Energy on the prospectivity of the Isa Super Basin, South Nicholson Basin and overlying Carpentaria Basin in the company’s wholly owned ATP 1087 tenement in North Queensland, has identified four new play types that have the size and characteristics to yield, following successful exploration programs, material gas and oil accumulations.

The assessment reveals targets of up to 18 TCF of contained gas in place in the Riversleigh Shale underlying the Lawn Shale which hosts an independently assessed Mean Prospective Resource of 22.5 TCF of gas. Three additional plays could host up to 1.8Tcf of gas and 137 million barrels (MMbbl) of liquids.

Armour intends to collect up to 250 km of 2D seismic data during the forthcoming winter field season in order to mature and prioritise these plays and leads for drill testing.

During the 2013 drilling campaign, expected to commence in ATP 1087 in the second quarter of the year, Armour plans to drill three vertical wells and one lateral well targeting the Lawn Hill Shale.  The first well is proposed in the eastern area of ATP 1087 adjacent to the Egilibria 1 well which recorded up to 8% gas (390 gas units) on mud logs during drilling in 1992.