Australia: Armour Wins Two NT Exploration Permits

Armour Wins Two NT Exploration Permits

Armour Energy said that it has been granted exploration tenements EP191 and EP192 over a combined area of 24,700km² (6.1 million acres) in the Northern Territory.

The granting of EP191 and EP192 will allow Armour to extend its exploration program into the southern portion of the McArthur Basin and east towards the Isa Superbasin in ATP 1087, Queensland, where the company is completing its 2013 exploration program targeting the Lawn and Riversleigh shale formations.

Ongoing studies and reviewed core hole data have identified additional shale source rock prospectivity in the Wollogorang and McDermott Formations of the Tawallah Group in the newly granted tenements.

Live oil was reported within the McDermott Formation in the GSD7 well drilled by BHP in northern EP191 in 1995. The oil was described as coming from carbonate veining within evaporitic dolostone and dolomitic mudstone between 550 and 620 metres depth.

The recognition of hydrocarbon generation from these formations demonstrates the potential for deeper hydrocarbon accumulations below the Barney Creek Shale in EP171 and EP176, also held by Armour.

Additionally, Armour believes the Wollogorang and McDermott Formations are key exploration targets in EP’s 174, 190, 191 and 192. These 100% owned Armour tenements contain a number of large surface expressed basins, synclines and anticlines based on regional magnetics.

In 2014, Armour Energy will commence a series of feasibility and regional studies that will examine the hydrocarbon potential of the Wollogorang and McDermott Formations to generate leads and prospects and to high‐grade areas for enhanced geophysical survey acquisition.

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LNG World News Staff, October 3, 2013; Image: Armour