Armour Energy Delineated Northern Territory Gas Prospects

Armour Energy in an update on the planned 2013 Northern Territory conventional and unconventional exploration program, has said that it has delineated a series of eighteen conventional gas prospects holding 314PJ of risked, prospective resources in the Coxco Dolomite of the Teena Formation, a conventional, free‐flowing reservoir in the Batten Trough, McArthur Basin.

The company believes that this resource can be tapped by the drilling of 21 wells, doubling the previous Mean Prospective Resource of 156PJ for the Glyde Sub Basin.

Armour also plans to undertake a feasibility study to confirm the viability of and market for produced gas, in order to complete conditions precedent of a potential contract to convert this to 314PJ to 2P Reserves.

These conventional gas accumulations, discovered by Armour in the course of drilling the Glyde 1 ST1 lateral well in August 2012, occur within the porous and permeable dolomites of the Coxco Dolomite. 

Armour also continues to focus on its extensive unconventional naturally‐fractured and shale gas accumulations in the Batten Trough with a current mean prospective resource of 18.7TCF estimated within the Lynott, Reward and Barney Creek Formations.