crooky Posted April 13, 2012 Share Posted April 13, 2012 Lakes Oil (ASX: LKO) and Armour Energy expect to next week spud the Moreys-1 gas exploration well in the onshore Otway Basin that could result in early cash flow if successful. The Moreys prospect is a tilted fault block that straddles the border between Lakes' PEP 169 and Somerton Energy's PEP 168 along a known west northwest trending hydrocarbon fairway. It targets the Late Cretaceous Waarre C sands with secondary targets in the overlying Flaxman formation and underlying Eumeralla Formation. The rig, which is already on site, is expected to spud Moreys-1 on April 18. It will take about 10 days to drill the well to its planned total depth of about 2000 metres. Nearby fields are located both to the east and west while an existing gas pipeline is less than 1 kilometre away. Lakes added that Moreys appears similar to the McIntee, Fenton Creek and Mylor fields operated by Origin Energy (ASX:ORG). Armour, which is currently in the middle of its initial public offering to raise up to A$75 million, is funding the cost of the well to A$2.5 million to earn its 50% stake in PEP 169. Link to comment Share on other sites More sharing options...
crooky Posted April 13, 2012 Author Share Posted April 13, 2012 wrong site / wouldn't allow me to start new topic . / new company IPO /listing the other night /day ened up here, Link to comment Share on other sites More sharing options...
Nick_crx Posted August 13, 2012 Share Posted August 13, 2012 some commentators think this is the next BRU. Results on friday are a good start. one to keep an eye on, cashed up and lots of targets. Link to comment Share on other sites More sharing options...
crooky Posted October 30, 2012 Author Share Posted October 30, 2012 Conventional Gas Resource in the Glyde Sub â€Basin of EP 171, Northern Territory, increases from 10.2BCF to 130.7BCF Link to comment Share on other sites More sharing options...
bam_bamm Posted March 12, 2014 Share Posted March 12, 2014 Just noticed the stack of former Arrow/Bow management involved with Armour Energy. Nicholas Mather Robert de Weijer Stephen Bizzell Bell Potter has recently initiated research coverage Morgans has issued a new research report. Can't say I am very familiar with the basins that Armour has interests in. Anyone else having a look at Armour? Link to comment Share on other sites More sharing options...
persistent/2 Posted August 30, 2015 Share Posted August 30, 2015 AJQ Armour Energy TRADING HALT It seems Chinese suitor (AFReview today) Link to comment Share on other sites More sharing options...
lgrif Posted February 10, 2017 Share Posted February 10, 2017 Been no interest in AJQ for a long time until now. Seems to have broken downtrend however; resistance appears to be ~ 9.5-10c; 12c; 16c; 18c. Just my thoughts, DYOR. Link to comment Share on other sites More sharing options...
blacksheep Posted April 17, 2018 Share Posted April 17, 2018 Seems to be some interest today - SP up 8.89% @ 9.8c. Could be due to the NT Government lifting the Fracking moratorium? AJQ have some acreage put on hold. In September 2016, the Northern Territory Government announced a moratorium on hydraulic fracturing of onshore unconventional reservoirs including the use of hydraulic fracturing for exploration, extraction and production, including Diagnostic Fracture Injection Testing. This moratorium places a halt on any territory-wide activity for Amour until the moratorium is lifted. Fracking set to resume in the Northern Territory as moratorium lifted http://www.abc.net.au/news/2018-04-17/frac...-lifted/9666022 Link to comment Share on other sites More sharing options...
lgrif Posted April 17, 2018 Share Posted April 17, 2018 Thanks for the quick info B/sheep. I would have expected CTP to get a nudge up also, even though much of it's NT fields are conventional. Mayby the news hasn't circulated yet ? Link to comment Share on other sites More sharing options...
nipper Posted March 17, 2021 Share Posted March 17, 2021 Proposed Demerger of Northern Basin Oil & Gas Business HIGHLIGHTS: • Unlocking unrecognized value for shareholders through proposed demerger and separate ASX listing of Armour's Northern Basin Oil & Gas Business. • McArthur Oil & Gas Ltd ( a new company ) is proposed to be created to hold the Northern Basin Oil & Gas Business and demerged from Armour through an in-specie share distribution to existing shareholders. • IPO and capital raise of $60 to $65 million for McArthur Oil & Gas proposed to fund acquisition of Northern Basin Oil & Gas assets from Armour and to fund forward exploration. • Proposed total consideration of $40 million cash plus a minimum of 33.3% retained interest by Armour shareholders in McArthur Oil & Gas. The consideration received by Armour will be used to retire its outstanding debt. • As part of the IPO and, subject to Armour shareholder approval, Armour intends to distribute on a tax-effective in specie basis shares in McArthur Oil & Gas of a minimum of 33.3% by a return of capital to existing shareholders of Armour and will provide shareholders with a direct interest in two separately listed companies. • Armour shareholders expected to also be provided a priority entitlement to participate in the IPO of McArthur Oil & Gas. • McArthur Oil & Gas proposed to be the dominant exploration license holder in McArthur Basin with 13 permits covering ~89,000 km2 and major holding in South Nicholson Basin with 1 permit covering ~7,900 km2. • McArthur Basin has proven conventional and unconventional shale gas resources with a focus on near term production development opportunities from existing conventional discoveries. • Independently certified Prospective Resources of 34 TCF (Best Estimate) of conventional and unconventional gas and 1.2 billion barrels of oil and hydrocarbon liquids (Best Estimate). • 193 conventional leads and prospects identified in Coxco and Reward Dolomites and Tawallah Group Sandstones with 4.3 TCF Prospective Resources (Best Estimate). Link to comment Share on other sites More sharing options...
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