Armour Energy expands Queensland acreage

Armour Energy said that the company 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 existing Queensland tenement position ATP 1087 and ATP(A)1107.

Armour Energy CEO Robbert de Weijer said “the two tenements increase Armour Energy’s acreage position by about 5,400 km2 (1.3 million acres).”

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.

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. This relates to an area of just 64km2 around Egilabria 2. The Lawn Shale fairway is estimated to be at least 1,500km2, Armour Energy said in a statement.

Native Title Agreements and relevant environmental clearances will be required before Armour Energy can be granted an exploration permit over the preferred tender areas.

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Press Release; Image: Armour Energy